If you’re still using pen and paper, or informal conversations as a method of performance evaluation, you should become aware of how 360 degree feedback software can make your job easier. Save time, increase productivity, and get insights by implementing a performance management software.
Here are some big reasons why you should implement a performance management software before you conduct your next reviews.
1. Save time and keep all records in one place
We live and work in an increasingly digital world. Technology has made processes in the workplace easier and faster—and as you know, time is money. Sticking to paper-based performance reviews is time-consuming and prone to error. Documents and papers might get damaged or misplaced. And when it’s time to refer back to past documents, you can imagine how frustrating it could be to sift through file cabinets.
With a performance management software, all employee evaluations are completed and stored there. Anytime you need to look up past reviews or send evaluations, it’s all in one centralized place. The process is more streamlined and saves time for all parties involved. Without a doubt, leadership 360 assessment tools have modernized the way performance reviews are conducted.
2. 360 degree feedback software helps eliminate bias
Managers can sometimes let their biases affect their judgment during employee evaluations, even when they don’t mean to. A manager may favour an employee over the others, or they might rate an employee negatively without valid reasons. Biased evaluations can be incredibly damaging. Employees walk out feeling unhappy for being unfairly evaluated, and the company can lose employees from skewed performance reviews.
With leadership 360 assessment tools, businesses are able to conduct performance reviews that eliminate bias. Rather than relying on one individual’s review of an employee’s performance, these tools enable you to collect reviews from the key people who work with that employee. This gives you a clear and unbiased perspective of the employee’s work performance. By going through the reviews, you’ll be able to see trends and patterns to let you understand how that employee works.
3. Employees are more engaged with more frequent reviews
Annual performance reviews are becoming less popular in the workplace for a few reasons. For one, they’re unrealistic because managers can’t possibly recall every single thing each employee did all year. Since it only happens once a year, the feedback given can be irrelevant because it’s too late for an employee to act on it.
TriNet and Wakefield Research conducted a study to see how full-time workers between the ages of 18 and 34 felt about annual performance reviews. The study showed that the participants disliked the infrequent feedback. 62% of them felt blindsided by a performance review, and 74% reported feeling “in the dark” about how their managers and colleagues think they’re performing.
Leadership 360 assessment tools allow you to schedule and conduct as many performance reviews you need. You can schedule them to be biannually, quarterly, or whatever works best for your company. More frequent performance reviews keep employees engaged and more aware of their standing in the workplace.
4. Improve communication between managers and employees
A performance review enables a manager and an employee to have a one-on-one conversation. It’s a chance for both parties to have a discussion on the employee’s performance, accomplishments and goals. Depending on the company, sometimes these reviews don’t happen as often as a manager or employee wants. In a worst case scenario, there may be no performance review at all.
While some people have no problem asking their managers for feedback, others may be too shy or uncomfortable to be direct about it. Therefore, scheduled performance reviews are excellent opportunities for managers to communicate with employees. It’s a private conversation where both parties can have an open dialogue to learn, assess and improve. Creating, scheduling and delivering your performance reviews from a software can help facilitate these meetings easily.
5. You don’t need to be a huge organization to benefit from an employee performance software.
There are multiple reasons why any organization can improve from having a software dedicated to managing employee performance. Regardless of what type of company you are, it’s important to have a centralized place to store all information pertaining to employee performance. Why not check out one of the best 360 degree feedback software tools out there?