Performance management is all about drafting and establishing a culture that motivates the continuous enhancement of processes in business. Further, it also enhances an individual’s skills, contributions, and behavior. There are a lot of factor upon which the performance management relies, like managing performance, performance indicator, performance measurement, good/poor performance, SMART objectives, performance improvement, objective setting, performance appraisal, team appraisal, feedback, and appraisal training.
It is a process by which employees and managers work together to a scheme, monitor and make a review of an employee’s overall contribution to the system and his/her work objectives. More than just a performance review, it is the simultaneous process of setting goals, evaluating progress report, and providing continuous coaching and feedback to make sure that employees are able to fulfill their career goals and objectives.
One of the important ingredients in developing the employees is a well-executed and comprehensive management system blending elements such as throughout performance appraisals, regular face- to- face meetings, procedures in order to control underperformance.
Performance management is a well-defined term used to describe the practice of a system that rides decision about remuneration. Disciplinary performance, performance, promotions, developments, and transfer need within a system.
It is a much broader concept than disciplinary process or a performance appraisal. It aims to improve team, functional, individual, and organizational performances. An effective one calculates the advancement being made towards thriving firm’s business aims. They do this by establishing, planning, evaluating, monitoring, and reviewing functional, individual, team and organizational performance.
Holistically, it may assimilate recruitment, selection, job design, development, training, disciplinary counseling procedures, compensation, benefits, performance appraisals, career planning.
The HR departments work the best when they have the right set of tools, those tools that can integrate information about various aspects of the firm, such as management of employee. Without the right sets of tools, this entire process can turn out to be a huge nightmare. Performance reviews can be even worse.
Luckily, there are few outstanding tools, which can make these tasks a lot easier.
Appraisal Smart (based on Server/ Client system): It handles performance management and reviews. It automates the review process. This tool is pliable in its cycle of performance and it can handle appraisals within various months’ interval system. It will also make an anniversary review for the employee. It can handle 20- 1000 number of employees.
Orange HRM: It is a web-based application that arrives in two flavors, the open or three source versions and the version based on clouds. It measures the employee performance module, which is designed specifically to help in the performance review of the employee. Each section is based on performance scale of 1 to 10. After completion, every individual review can be accepted, submitted, or rejected.
ICIMS: It is a tool powerhouse, which offers a striking performance module review. The module for compensation solution and the performance management of ICIMS manages certain range for tasks, for example, performance management assessment’s checklist, well-defined reporting tools, etc. it helps in further controlling the succession planning of an employee as well.