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Why Focus on Continuous Performance Management?

Posted by: Andrew Hunt | June 30, 2017

Home/ Blog / Why Focus on Continuous Performance Management?

Several organizations are still treating performance management as a yearly event. However, research by Deloitte shows that organizations with an ongoing focus on performance management have better business results. Companies where employees revise or review their goals quarterly or more frequently are:

  • 45 percent more likely to have above-average financial performance and
  • 64 percent more likely to be effective at holding costs at or below level of competitors

Companies today need to transition their performance management from an event to a powerful ongoing business activity in order to ensure that the company’s managers and employees get the best snapshot of how they are performing, contributing and progressing towards goal achievement.

performance-management

Effective performance management ensures employees get the ongoing coaching, feedback, and development they need to succeed in their roles and deliver the results you need to grow your business. It helps increase employee productivity, improve employee engagement, and reduce turnover, which ultimately lowers costs and improves the bottom line.

Predict360’s Performance Management System enables managers to target employee performance and align employee activities with organizational strategy. It automates performance management and streamlines the performance appraisal process to promote goal achievement, productivity, continuous feedback, coaching and development. It helps organizations achieve the following:

  • Integrated data in one system that provides the most robust employee data in view for managers and their employees.
  • Highly configurable dashboards, that makes goal setting easy and transparent. It gives managers and their employees the best snapshot of how they are performing, contributing and progressing towards goal achievement.
  • Aligned employees’ individual goals and organizational goals, resulting in proactive goal management.
  • Highly configurable automated performance management system, resulting in increased productivity and profitability.

About the company

360factors, Inc. (Austin, TX) helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures management, risks and controls, audit management and inspections, and on-line training and qualifications, in a single cloud-based platform based on artificial intelligence.

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