Employee Performance Management Software & Skill Building
The skills gap crisis isn’t a new issue in the workforce. In fact, a found that 50% of all employees will require reskilling by 2025. A in 2020 also discovered that 74% of CEOs are concerned about the availability of key skills. So, what is there to do? Employee performance management software could be your solution.
The Importance of Skill Building
So, why is skill building so important anyway? Technology continues to undergo rapid advancements. The way we work and our work-life values saw a large transformation post-pandemic. Organizations must be flexible and prepared for change. This starts with having adaptable employees.
Creating a culture of continuous learning increases employee productivity, engagement, and problem-solving abilities. Embracing skill building in regular workplace practices fosters a dynamic workforce. Employees handle unprecedented challenges with confidence and shift with market trends.
What’s more, providing professional development opportunities directly affects retention and talent acquisition. says 87% of millennials value “professional or career growth and development opportunities” in a job. If you want to attract new talent and remain competitive, it’s time to invest in skill-building.
What is Employee Performance Management Software?
With all the tech advancements in recent years, it can seem overwhelming to have to constantly implement and familiarize yourself with new tools. It doesn’t have to be painful, though. Employee performance management software is worth utilizing.
Employee performance management software helps set goals, track performance, offers insights, and provides real-time feedback. In this technology, analytics and AI come together to solve the complex tasks that HR and managers face when it comes to talent management.
Features of this software include:
- Setting goals
- Tracking performance
- Coaching and training
- Scheduling meetings
- Collecting and offering feedback
- Recognizing and rewarding achievements
The Benefits of Employee Performance Management Software
The major benefit of employee performance management software is that it takes some of the workload from HR and managers. It also helps them collate data and reduces the risk of error. If there aren’t any official practices around performance management and employee development, employers can easily overlook these tasks.
Through the system, employees leave notes that managers can follow. They can access holistic feedback from supervisors, colleagues, and subordinates. Managers and employees can use the software to schedule check-ins, both online and in person. The system then aggregates employee progress and offers this information to managers for their formal reviews.
Using Employee Performance Management Software for Development and Skill Building
So, how do you use employee performance management software for skill building and professional development? When you input your employee data, you will include skills and competencies. Here you can track their professional progress and update this list throughout employee tenure.
Based on progress and career projections, employers can also use the software to provide learning resources and development opportunities. It’s much easier to update training materials and adjust them to industry standards when it’s all in one system. Don’t forget to align these goals with company goals to ensure rounded growth.
A major aspect of appreciating employees and encouraging them further is rewarding efforts. Employee performance management software can manage your rewards system and remind managers. Employees will see that you’re serious about saying thanks and value them.
Employee Performance Management Software Examples
The next step is deciding which employee performance management software to use. It’s important to pick one that suits your organization’s needs. Here are five examples of top-rated software and their specialty.
- – remote teams
- – strategic goal alignment
- – employee recognition and engagement
- – core and specialized HR services
- – skills management and talent development
Skill Building Is The Way Forward
Talent is the single most important part of any business. Without the right skills and competencies, it’s impossible to maintain growth and remain competitive in the market. That’s why investing in employee performance management software is worth your time and money.
It isn’t enough to train onboarding staff and leave it at that. Continuous skill building is the way forward. Managers and HR already have enough on their plates – offloading some of their tasks onto software frees up time and resources. Technology may get confusing, but it can be extremely helpful.
And while we’re on the topic, have you considered competency management software? Why not make the whole talent management process easier?
Insights You Need to Get It Right
