Performance Management Software

A.   What is Performance Management Software PMS ?
Performance management is a systematic approach that involves a range of activities undertaken to get the best performance from people to achieve agency and team objectives and individual goals.

B.   Benefits of an automated PMS tool
  1. The strategy and company goals are better communicated, understood, and accepted efforts are aligned in the direction of the achievement of the strategic goals.
  2. If there is a link to pay, the increase and/or bonus budget will be spent on a fairer basis, will be more credible, and should yield better returns in terms of recognition / motivation aspects, hence cost effective.
  3. Better control and measures of performance activity, ensuring individuals are focused on the right priorities which reduces absenteeism.
  4. The ability to identify skill gaps and training needs.
  5. Helps line managers to manage their people more effectively.

C.   PMS Features / Process
1.   KRA / Goal Setting
Key Results Areas enable you to maximize the contribution zone between yourself, the company and the customer, as well as the customer’s clients. Furthermore, it matches your individual aspirations with the company and customer requirements.

2.   Multiple Reviewers
Capture reviews and feedback from different Functional heads or Supervisors.

3.   Assessment & Evaluation
360 degree feedback & performance ratings with Focusing on defined indicators, including customer perspective, internal-business processes, learning and growth and financials, to monitor progress toward organization's strategic goals

4.   Normalization
An inherent part of Appraisal process which includes Percentage calculations for increment basis contribution by Functional heads and Supervisors.

5.   Promotions and Payout
Both Quantitative & Qualitative results properly describes a process of judging past performance and not measuring that performance against clear and agreed objectives.

6.   Balanced Score Cards
Captures both leading and lagging performance measures and monitor organization performance against strategic goals.