Performance management software is a computer program or suite that makes it possible for an organization to monitor and optimize the overall effectiveness of its workforce at the individual and collective levels. A good performance management program can help an enterprise to attract and keep the best possible talent.
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Performance management software focuses on workforce productivity, efficiency, and progress. Performance reviews take place on a continuing basis at an administrative level. Reviews also facilitate medium-term and long-term performance forecasts at a strategic level. An effective performance management program must interact with other tools, in particular workforce analytics.
Other desirable features and goals of performance management software include:
- Keeping employees motivated.
- Helping employees track their progress within the organization.
- Helping employees plan their futures in the organization.
- Providing a Web site for employees to monitor their own data.
- Eliminating task redundancy.
- Tying employee compensation to individual achievement.
Expert Gerie Owen provides of comparison of the top tools for conducting performance testing in the enterprise.