Performance Management & Appraisal Software

What is Performance Management & Appraisal Software?

Performance appraisal software is used to automate tasks related to the employee review process. These business apps help with assessing, incentivizing and praising employee work performance. By recording and archiving all materials related to employee assessment, users can accurately track employee progress over time and ensure employee objectives are aligned with company goals. These tools also help managers identify talent for advancement and put plans in place to develop this talent.

Common features of performance appraisal software include 360 degree feedback surveys to promote teamwork and communication. This means that not only managers and team leaders have the ability to leave feedback on staff and departmental performance but peers, subordinates, coworkers and supervisors also have the ability to leave feedback.

By consolidating data aggregated from your chosen sources, these tools present an overall assessment of departmental or individual performance through features such as stars or number ratings. Results can often be gathered in real-time and displayed through graphic dashboards. This data can be compared against other departments or past results. It can also be exported and shared in a variety of formats.

Performance appraisal tools offer easy-to-use and branded templates to create performance appraisal reviews. Employees can access these reviews via their personal accounts, they can also carry out self-reviews, view recent achievements, set future goals and schedule future reviews. They can also submit feedback on their reports, improving transparency and understanding across the company.

Reward schemes can be put in place using the compensation modules of performance appraisal software. You can create different level budgets to automatically calculate rewards based on positions. You can establish pay grades and associate them with job descriptions and salaries, then create compensation plans depending on pay grades. Some apps will also make compensation recommendations based on performance review and overall rating.

Questionnaires are another common feature of performance appraisal software. These can be customized to assess the qualities you are looking for in potential candidates for hire or promotion. These qualities might include level of competency, leadership level, skills and certificates.

By using performance appraisal apps to determine your review cycles, you can automatically schedule group surveys and performance reviews at specific times. The reporting tools of these applications help to make sense of feedback and identify areas for improvement and future development.

Key Features & Benefits

  • Create review templates
  • Determine employee assessment criteria
  • Gather and organize review results
  • Provide 360 degree feedback
  • Assess and compare departmental and employee performance over time
  • Set individual and team goals and milestones
  • Determine monetary compensation based on pay grades
  • Identify candidates for promotion
  • Set review cycle periods