A performance management system is a type of employee review software used for setting goals and tracking employee performance. This provides insight into the overall functions of departments and employees, ensuring unity towards achieving organizational and professional goals. Performance management software helps your company, managers, and employees define actionable steps towards continuous career development and advancement.
Prioritize Employee Development
Our extensive performance management software streamlines your process to give leaders, supervisors, and employees the tools for growth and success—minus the paperwork and manual tasks. Enable transparent, two-way communication with 360 feedback, Journals, and peer recognition to keep development top of mind throughout the year—not just during annual reviews. Help employees take ownership of their own career development and give managers the tools to support them.
Promote Engagement and Boost Morale with Peer Recognition
Increase connection among employees and help them feel valued by recognizing and celebrating their peers with Paylocity's recognition tool. These accolades can even be served up in annual reviews.
“It's a one-stop shop for all those performance reviews and the corrective actions.”
“Paylocity has just been indispensable by helping us formalize a performance review plan and program.”
September 23, 2021
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Frequently Asked Questions
Performance management is critical to providing growth and development opportunities that support both employees and business goals. When performance management is prioritized, it empowers transparent communication between a company and its workforce. This allows managers and HR staff to monitor employees' progress towards their career goals. Cloud-based employee review software makes it easy to stay on top of the performance for each employee by facilitating the conversations around employee growth.
Some key components of performance management systems and solutions are goal management, full-scale feedback (feedback collected from managers, peers, and self-evaluations), and performance reviews.
- Goals: Performance review software allows for goals to be set and defined in one location and shared with an employee’s manager.
- Feedback collection: Many platforms also offer feedback collection from a variety of sources like supervisors and peers. This includes self-assessment functionality, like Journals, that provide an outlet for ongoing conversations about goals, projects, and performance.
- Performance reviews: Performance review capabilities provide structure for defined performance assessment periods – including a customizable set-up and grading system that employees can be measured against based on the feedback and goal components.
Performance reviews are an essential part of the ongoing dialogue between employees and their managers, and they look a bit different among organizations. However, most employee reviews follow these steps:
- Discuss the employee’s role. The employee’s job description might need an update to better reflect their current responsibilities.
- Review the employee’s self-assessment. There are pros and cons of self-evaluation, but ultimately, they get employees more involved.
- Submit a written review. Managers should also document their assessment of each employee’s performance.
- Set performance and professional development goals. Keeping employees motivated increases engagement.