BENEFITS OF PERFORMANCE MANAGEMENT SYSTEM
Benefits of an Appraisal Management System
A performance appraisal management system provides the following benefits for employees, managers, HR and the company as a whole:
1. Performance Based Compensation and Rewards
A lot of times, managers get caught up in fulfilling their various responsibilities and do not have much time to interact with the rest of the staff. A performance management system ensures that managers communicate clearly with to discuss performance issues with employees. It also allows managers to reward the right employees in the correct manner. The company can use this data to properly plan budgets, set the stage for performance improvement plans (PIP) and any other actions that may follow. These actions will encourage and motivate employees to perform at optimum levels.
2. Aimed Staff Development
A performance management system is a good way to discover learning and development needs and is an important part of a progression process. It helps employees remain updated on ongoing performance evaluations, so that they can act thoughtfully and consistently to the facts. In this way performance appraisals help improve morale and increase productivity.
3. Identify and Help Under-Performers
Not only is it important to reward good work, we also need a platform to deal with employees who need improvement. Employee performance evaluations help to identify and document employees who are under-performing and why. Managers can then recommend the necessary actions to bring these employees up to speed, whether through further training, increasing their benefits, or even through counselling.
4. Documentation of Employee Performance Evaluations
It is crucial for an organization to keep performance records of all employees, and even more so for many years. This is where a performance appraisal software proves its usefulness. These performance evaluation records serve many purposes in helping managers track the historical development and performance of every employee in a company. They can even give insights to help managers with strategic talent development, such as succession planning or leadership development.
Wolke’s software licensing and delivery model is flexible, scalable and economical wherein a software is licensed on a subscription basis and is centrally hosted. It’s easy to implement and works on taking on new modules as and when needed. SaaS is typically accessed by users using a thin client via a web browser. Talk to us for an economical switch on switch off model.
Wolke provides the best Time & Attendance Solutions integrated to Payroll, to a number of clients nationally and internationally in the UAE, GCC, MENA and European region. It is a company based in Dubai Internet City UAE and has capabilities across Abu Dhabi, Sharjah, Ras Al Khaimah, Ajman, Fujairah, Umm Al Quwain. It has also expanded across Bahrain. It solutions are robust, flexible and scalable.
Primarily, we will need an understanding of your company processes, gather requirements and eventually implement a standardized system. Wolke also provides Microsoft Dynamics NAV/AX/CRM implementation and solutions. Besides our experience in a world class affordable HCM / HRMS Suite (Human Resource Software Solution) with modules like Core HR, Payroll, Time & Attendance, Employee Self Service, Performance Appraisal, Outsourced Payroll service and SaaS payroll model we assist our clients in various ERP solutions. Talk to us on your software needs. We are reliable, responsive and economical in our approach to our customers. Period. Talk to us if you are a construction, Logistics, Banking, Hotel, Trading, Financial Services, Landscaping, Facilities Management, IT, Developer, Contractor, Consultant, Engineering, Distribution, Shipping, Retail, Wholesale, Events or a Media Company.