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Employee reviews are arguably the best opportunity an organization has to energize and motivate its employees. Managers get a chance to sit down and have a one-on-one conversation with employees, as well as give and receive 360-degree feedback. For many organizations, though, the process of scheduling, executing, and documenting reviews can be incredibly arduous. Relying on traditional methods, managers and human resources (HR) professionals are left with countless paper forms and records to review and file, which takes away from time and energy spent on the review itself.
There are more than 100 different employee performance management software solutions available for modernizing and automating the evaluation processes in an organization. With so many options to review, it’s no small task to find the best fit for your organization. That’s why we have written this buyer’s guide to help you identify the right solution.
Here’s what we’ll cover:
Employee evaluation software systems automate the cumbersome--and often time consuming--task of regularly evaluating employees. With the right evaluation and employee management software in place, the challenge of strategically developing your organization's workforce becomes a collaborative effort with tangible results. These systems enable employers to focus on identifying top talent and developing employees to better fit the needs of an organization. Employee appraisal software also makes it easier for managers to track employees’ goals and performance throughout the year, and then share this information with authorized users across the organization.
The HR software market is growing, and the emergence of new strategic companies has pushed all vendors to increase the pace of innovation. One major change in HR and talent management software has been the move toward cloud computing. Cloud computing, also known as Software as a Service (SaaS), is a model in which the software vendor hosts the application on the web, making it easy for you to securely access the application through any web browser.
One key benefit of web-based software is that users can access the system from anywhere. With this model, employees can log in and perform self reviews, view past reviews, view recent achievements against goals set, and schedule reviews without bothering the busy folks in HR. Managers can set reminders, run performance reports, flag top talent for advancement, and then easily share this information among departments. Traditionally, these activities were more limited to the HR department, where a much smaller set of employees had access to older client/server systems.
Employee review software functionality includes:
Before reviewing employee performance evaluation software, it's important to assess what type of buyer you are. We believe that 90 percent of buyers fit into one of these categories:
|These types of buyers...||Should evaluate these systems...|
|Best-of-breed buyer||iCIMS Talent Platform, ReviewSNAP, Plateau|
|Integrated suite buyer||Ascentis, Sage Abra, SAP ERP Human Capital Management|
|Cost-conscious buyers||TrakStar, SuccessFactors, Sonar6|
When researching employee performance review software, there are a number of market trends you should understand:
Thanks to recent developments in the employee evaluation software market, updating processes to engage, energize and retain talent is less daunting. It’s just a matter of performing thorough performance management software comparisons and finding the right system that can handle your unique needs today and in the years to come. By implementing a new system and modernizing your approach to reviews and workforce development, your organization has a great opportunity to build culture, while attracting and retaining top talent.
Many managers lack the time required to effectively execute annual reviews. Reviewing paper records, submitting forms and manually tracking performance throughout the year can be a hassle. Consequently, organizations often miss out on the full value of the information generated in the review process. Not to mention, development and retention strategies are difficult to enforce, and top talent can slip through the cracks. By failing to take advantage of the performance appraisal software available to them, organizations run the risk of hurting their bottom line.
The following topics have been part of recent discussions within the HR market:
We're able to offer this service to buyers for free, because software vendors pay us on a "pay-per-lead" basis. Buyers get great advice. Sellers get great referrals.