Performance management software refers to a technological tool designed to help HR managers create relevant objectives that align with the goals and mission of the organisation, document performance, and write appraisals.
It allows HR managers and leaders to easily track, analyse and evaluate their employees, ensuring that goals are met and all major issues are addressed. The performance management data collated by the software can inform on aspects including career trajectory, company goals, compensation, hiring decisions, performance reviews or anything that relates to human capital management.
The key objective of this tool is to improve business performance by systematically working on employee productivity. It primarily works to ensure that individual employees and teams are fully engaged and in alignment with organisational goals.
The tool replaces an annual performance review process with a robust process of real-time performance tracking, goal setting and feedback.
