How Employee Performance Management System can help you enable a productive workforce
In a recent survey, it was observed that companies that adopt continuous performance feedback significantly outperform the competition at a 24% higher rate.
This shows that employees at all organizations expect continuous feedback and suggestions on how they can advance in their job roles and career. They no longer want just an attractive compensation package, but they also want to learn how to move forward in their professional lives.
SAP SuccessFactors Performance & Goals help you develop an all-in workforce guided by strategy, goal alignment, performance improvement, and recognition of your top talent. Let’s see all the other benefits of an employee performance management system.
1. Drive continuous performance management
An employee performance management system allows your employees and managers to stimulate continuous dialogue and feedback and have more structured conversations about aligning performance planning with goals and improvising on the same.
Employees can request real-time feedback from managers and peers, capture a live summary of achievements for one-on-ones and performance assessments, and keep managers updated on their progress and performance priorities.
On the other hand, managers can track the team’s progress against goals, assess each individual’s activities and achievements to hold more effective performance check-ins, and provide actionable feedback.
2. Revolutionize the performance review process
The age-old process of performance management no longer works today. Asking employees to fill out paper-based forms or providing them with just annual reviews is no longer enough for the dynamic world we live in today.
When employees are wearing multiple hats and working on different projects every month and even every week, they expect continuous reviews, and they also don’t want to spend too much time on this process.
SAP SuccessFactors Performance & Goals help your team complete reviews more quickly and easily and even reduce the time and costs associated with paper-based processes.
3. Have powerful goal management
With SAP SuccessFactors login, you can see a goal library of more than 500 SMART (Specific, Measurable, Attainable, Realistic, and Timely) goals. You can choose and modify any of them to suit your business’s objectives.
Having such goals keep your employees motivated and reaching for the right milestones. They can even tweak their performance goals with respect to the overall business goals.
You can even cascade goals to drive alignment and continuously update employee effort, success probability, and comments with features such as Mobile Goal Management.
Managers can track individual, team, and company-wide progress for these cascading goals.
4. Deploy accurate performance assessments
Create a simple and engaging experience with a balanced and complete view of employee performance with “Ask for feedback” and 360-degree reviews. This results in better quality reviews, faster user adoption, and an increase in completion rates.
You can even activate calibration to ensure objective and fact-based decisions when it comes to performance and compensation.
These performance assessments also summarize employee achievements and feedback tied to performance and development goals so you can easily make crucial decisions.
5. Identify top talent
With performance management software, you can identify top and bottom performers based on individual achievements rather than team achievements. You can even take a look at the different competencies each individual has demonstrated and how they can move ahead in your organisation.
With SAP SuccessFactors, you can measure the value and impact each of your employees has and how they have progressed in their roles over a period of time. This helps your HR leaders make unbiased pay for performance decisions.
6. Adhere to compliance
If you have branches in different parts of the world, you need to handle a lot of legal processes and compliances. With SAP, you can create an audit trail of discoverable documents to ensure the legality of reviews.
You can even adhere to Sarbanes-Oxley and other regulations. As HR managers, you can focus on fair performance reviews by setting such measures in your SAP system and making sure that your team follows the same during compensation and performance decisions.
7. Create accurate performance reports
You may need to show the leaders in the organization how your HR decisions are backed with facts. To do that, you can create performance reports with employee and review data stored in the performance management system.
If you’re making use of other SAP HR systems, you can even create comprehensive reports like how recruiting a particular employee helped achieve the business’s performance goals.