Promotes a focus on performance metrics and measurement of achievements against metrics to improve business performance.

What is Performance Management?

Performance Management involves synergy between managers and employees in devising methods to plan, track, and review employees’ career goals, work objectives, and contributions to the company. A well-developed performance management process ensures employees receive adequate training and timely appraisals, and have clearly communicated, rewarding career growth plans. The right combination of performance management strategies results in high levels of employee satisfaction, low turnover and employees’ increased contribution towards company goals.

The Challenges

  • Manual Performance Management are a thing of the past. These systems are often not liked by both managers and staff and invariably fall into disrepair. They are cumbersome, people intensive and a source of great frustration for line managers as they do not feel they have any control.
  • Time-consuming paper-based and manual employee performance appraisal processes result in counter-productive performance management initiatives.
  • Rising administrative costs and time consuming management efforts leads to operational inefficiency.

Our Solution

Predict360’s Performance Management System is a licensable standalone web-based application or can be part of an integrated regulatory change management, audit, incident, policy, procedures, competency and learning management solution. Our cloud-based technology, enables managers to target employee performance and align employee activities with organizational strategy that gives more room to mutual success for employees and their managers.

It automates performance management that allows you to increase productivity and profitability. Streamlines the performance appraisal process to promote goal achievement, productivity, continuous feedback and coaching and development.

Key Features

  • Integrates data in one system to provide the most robust employee data in view for managers and their employees.
  • Highly configurable dashboards 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.
  • Aligns your employees’ individual goals to organizational goals for a proactive goal management.

Five Steps to Improve Your Performance Management System

The following five steps will ensure that organizations design and implement effective Performance Management processes:

1. Measurement using logic-driven analytics.

Analytics and metrics are important performance management tools for establishing standard reference points to assess performance and to statistically gauge individual and team results. Analytics helps in ensuring that employees and departments are focused on the most pivotal drivers of company performance.

2. Segment the workforce.

Differentiate employees by type of role and other factors that are correlated to performance management. Segmentation can be done on the basis of two aspects:

  • Supply-side segmentation – driven by factors related to the employee such as generational and cultural differences.
  • Demand-side segmentation – identifies pivotal roles i.e. roles where exceptional performance makes the biggest difference.

3. Leverage risk.

Develop processes to assess risk and distinguish between “good” and “bad” risks. Risk may have a negative connotation, but careful assumption of reasonable risk is important.

4. Integrate programs, functions and organizations.

An effective performance management system links processes to other HR programs of the organization ensuring better result measurement. An example of such a linkage is between individual performance management results and pay decisions so as to understand the implications of the employee value proposition.

5. Optimize the investment.

Organizations seeking to optimize their results and investments can differentiate according to service levels, give increased rewards, leverage for more pivotal roles and identify significant new investments that will help improve talent management.