For any organization, the performance of its employees builds the efficiency of their respective departments, and that collective efficiency eventually decides the success rate of that company.
Thus, for the corporates, keeping a tab on the performance metrics of their employees becomes crucial and pivotal.
In this regard, the traditional techniques involved in measuring employee performance, including just the KPI reports that are filled once in a year, don’t contribute much.
Hence, it becomes important for that organization’s HR management software to be equipped with a dedicated Performance Management tool to monitor and manage the performance of the workforce.
Need of Performance Management Software in 2024
The pandemic has changed the nature of work forever, and corporates are still switching between the on-premises and remote working. However, managing both the work models simultaneously becomes a hard nut to crack for HR managers.
They need to change their strategies accordingly, particularly for tracking employee performance and measuring productivity. Thus, establishing a common process, irrespective of changing work pattern, becomes an absolute requirement.
Corporate factors impacting the performance
Employees, round the globe, share similar feelings and have same requirements and needs.
Thus, taking the global business environment into consideration, we have tried to list down some of the factors responsible to influence your performance metrics.
- Employee Engagement
According to a survey conducted by the leading employee communications & advocacy platform Smarp, 71% of business executives feel that employee engagement is crucial to boost the performance and company success.
Furthermore, the study revealed that US companies lost approx. 400-500 billion dollars each year due to the disengaged employees in the organization.
Thus, in a nutshell, it is important for organizations to keep their workforce engaged in corporate or other activities, especially when they’re working remotely.
- Employee Retention
It is actually harder to retain the employees than hiring them, approx. 63% of the companies participated in the survey feel. Hiring employees for a short-term period results in wasting your time, money and resources.
Also, along-serving employee becomes a valuable asset for the employers, well-versed with company’s rules and working. Thus, losing such gems is always difficult for organizations too.
Now the big question arises that how to increase the loyalty of employees towards the organization. Appreciation and satisfaction at workplaces keep your workforce motivated.
Timely appraisals should be conducted by the companies, which again calls for an automated Performance Management Software.
Is it a time for testing the Waters?
There are multiple HR management software available in the market, making selection of the best-in-breed solution difficult for businesses.
Moreover, companies don’t have ample time, money and favourable environment to test the efficiency of different software. Thus, to go with an experienced name makes perfect sense to them.
One such HRMS is TecWork HRMS, equipped with the Employee Performance Management Tool. Backed with years of experience and satisfied clientele, it is the perfect solution to assess performance and measure productivity.
However, we’re not recommending you to trust us blindly. Below we’re presenting the features of TecWork HRMS that help companies make performance management as seamless and effective as possible.
- Daily monitoring task-sheets
As discussed above, continuous mapping of performance-related data is more beneficial for the employers, rather than just relying on the annual reports.
The solution for this is in-built daily task-sheets offered by TecWork HRMS.
Tasks done and hours spent in accomplishing them can be easily mentioned daily, and subsequently monitored and tracked by the management.
- Daily attendance and breaks
Yet another performance index important to monitoring performance of employees is the daily attendance and breaks.
Whether working from home, on-premise or opting for a hybrid working model, HR managers, having TecWork HRMS, will never find it difficult to track the attendance.
It offers both biometric and digital attendance punches to record accurate time. Additionally, managing breaks is also a critical issue faced by the HR managers.
It has been consistently reported that employees utilize more than dedicated time for lunch and tea breaks.
- Project status
TecWork has solution for that too, as punches for breaks can also be added in the daily attendance system.
This will either make your employees strictly follow the pre-defined time, or compensate for the extra time consumed.
We’re not done yet with the features of TecWork HRMS Project allotment is yet another offering to evaluate performance.
Managers or team leaders can allot tasks to their teams and can also check the status – completed or pending.
Wrap up
So, this blog perfectly explains that the right technological tool like TecWork HRMS when deployed to manage people and their performances can help construct the most efficient and progressive workforce. So, what are you waiting for? Get HeRd today! For more info, Contact us.
