Most organizations, managers and employees see performance management as a one-off, yearly event. On the other hand, researches have clearly shown that continual performance feedback and review is the best way to achieve good results.
Studies show that companies that conduct quarterly reviews are 45% more likely to have improved financial performance and 64% more chances of staying competitive in the market. The best asset execution management software today allows employees to get immediate feedback, helps them know where to improve and get good at their jobs.
However, not all performance management software are created equal. Some still follow the traditional approach of performance appraisals. But there are some that are disrupting the industry and the workplace.
While your business is moving fast, you are setting goals for your employees only once in a year without any scope for change or revision. Do you feel your goal-setting is not keeping pace with the pace of your business? If yes, your business definitely needs a good performance management software that simplifies the process and keeps the workforce on the right track.
An asset performance management system encourages a culture of continuous feedback giving everyone a clear picture of where they stand and where they should improve.