The workplace is changing. Companies can’t afford the inefficiencies of outdated software and processes, and employees want to know that their organization is setting them up for long-term success. The right HR software can help in both areas—increasing efficiency while strengthening the performance management process.
And executives see the value. In a Deloitte survey of over 7,000 business and HR leaders, 74% of respondents said that digital HR is a top priority. They defined digital HR as “integrated mobile and cloud technologies to build an app-based set of services designed to incorporate HR programs into an employee’s daily life”.
If you’re searching for new systems, here are four HR software features to keep an eye on.
Organizations want to make HR decisions based on strong data. In fact, 77% of respondents in the Deloitte survey rated people analytics as important or very important.
HR software is now able to gather and analyze data—on turnover trends, demographics, hiring patterns, real-time employee feedback, social networks, and more—to identify top talent and strengthen recruiting and performance management processes.
Many companies are recognizing that the tradition of annual performance reviews simply isn’t effective anymore. If employees feel like their talents aren’t being recognized or utilized correctly, or that their company isn’t invested in their career development, they won’t hesitate to look for new jobs. 64% of millennial workers in the U.S. expect to leave their current employer in the next five years, and a similar percentage say that their “leadership skills are not being fully developed.”64% of millennial workers in the U.S. expect to leave their current employer in the next five years. Click To Tweet
Perhaps that’s why 71% of executives ranked workforce management as a priority for their organizations. There has been a major shift from annual reviews to regular quarterly or monthly check-ins. The right HR software can track these meetings and allow both managers and employees to fill out assessments for more productive performance conversations.
Goal Management and Real-Time Feedback
These are two HR software features that tie into the performance management process. Using goal management software, employees and managers can set performance goals, along with step-by-step subtasks, and track progress as they work towards completion. This feature helps teams stay on track, ensures that vital work is being accomplished, and creates a culture of accountability and transparency.
Employees should also have the ability to provide real-time feedback about projects, policies, processes, and peers. They can also recognize and celebrate successes. Managers can then save and organize this feedback for easy reference during check-ins and reviews.
Integrated Remote Workforce
It should be easy to integrate freelance workers and independent contractors into the system, and software should also be accessible by employees working remotely. Why is this a critical function? Because 43% of U.S. employees work remotely at least part of the time, and there were over 57 million freelancers in the U.S. in 2017. And that trend will only continue, as experts project that over 50% of the U.S. workforce will be freelancing by 2027.Experts project that over 50% of the U.S. workforce will be freelancing by 2027. Click To Tweet
As the line between in-house and remote employees continues to blur, management and HR should be able to include all workers in all necessary processes and workflows. This will boost accountability while ensuring that everyone, regardless of location, is on the same page.
Ready to evolve your company’s performance management? Request a demo today!