What is Employee Performance Management software?

Employee performance management covers a wide range of activities including staff appraisals, competency management, goal alignment, career development, succession planning, and compensation management.

Ideally it should be a systematic process by which a company strives to improve organisational effectiveness and productivity through consistently tracking and optimising employee performance over three stages:

Goal setting…

Aligning each employee's objectives with the organisation's goals to create a high-performance culture where everyone has a clear line of sight from their contributions to organisational priorities.

Conducting staff appraisals…

Assessing the employee's performance against the established goals and competency requirements of their job. Typically conducted once or twice a year (if not more), appraisals consist of a series of interlinking steps for assessing employee performance, providing ongoing feedback on progress with stated goals, and developing future performance expectations. Problem areas are identified and corrective measures put in place, including any coaching or training that the employee may need.

Developing talent…

Ultimately, Employee Performance Management is about developing talent through career planning, training and personal development with the end goal of retaining valuable workers. Effective talent development reduces turnover in critical positions, manages succession plans, minimises business disruptions, and reduces the risk of non-compliance, litigation, and damaged business reputation.

Organisations typically use cumbersome home-grown or traditional paper-based systems to administer performance appraisals. This labour intensive approach lengthens the appraisals cycle and often results in missed deadlines. It is complicated to manage the associated workflow, especially where multiple appraisers are involved. Consolidating results to identify skill gaps and investigate competency patterns is particularly difficult.

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The Covalent online performance management system transforms your appraisals process to reduce the time, and thus costs, involved. It also delivers better organisational performance, with a more engaged and productive workforce. Finally, Covalent captures crucial business intelligence to support HR decision-making.