The Importance of Performance Review Software

Performance reviews are in an interesting spot in today’s professional culture. Some organizations have dismissed the practice altogether, while others are raving about the successes of the 360-degree review.

If your organization conducts performance reviews you know they have the potential to contribute to the growth and longevity of both your employees and business. What you might not know is that performance review technology can increase the positive potential of the review process. Let’s dive into some of the reasons performance review software aides your review experience.

1. Eliminate paperwork

Going paperless is perhaps the most obvious advantage of utilizing a performance review software. Your managers and HR team no longer has to track and organize stacks of paperwork associated with employee reviews. Performance review technology enables managers and supervisors to easily check in on an employee’s job performance from the same platform they manage their hours, payroll, and benefits.

Enhance employee engagement

2. One platform for competency accountability

By having access to employee performance data from the same place you review hours and submit payroll, your employees can easily check in on employee and company goals. Dominion’s Performance Review software allows managers to create company and employee goals, list competencies for skill assessment, and more. Allowing employees to refer back to these set competencies and goals will encourage employee accountability, as they can check on exactly what they need to be working towards.

3. Track, measure, and set goals

Like I mentioned above, Dominion’s Performance Review software allows for easy access to performance data and analytics to monitor your employees' progress. As the year goes by, an integrated software becomes helpful for staying aligned with quarterly and yearly goals and communicating exactly what is expected.

And employees who have a clear picture of how their personal objectives impact the entire organization are much more likely to feel valued and committed to their place of work. Lastly, having the ability to set and measure individual employee goals gives plenty to talk about when it's time to conduct the performance review.

4. Automate feedback and review cycles

One of the biggest complaints against performance reviews is that they are untimely. If the review is being conducted once a year, it’s often difficult to recall small moments of greatness an employee exhibited or annoying work habits you’d like to see stomped out. Instead of holding back potential praises or formal warnings for the formal employee review, tell employees in real-time what you appreciate and what you wish to see changed. Easier said than done though, right?

But by automating the performance review cycle, you can set reminders and notifications so all parties involved are on the same page and can be prepared to talk about what’s going well and what isn’t.

5. Integrate merit increases into payroll

Undoubtedly one of the best aspects of the performance review is the chance of receiving a raise. If you’ve decided an employee has met their goals and contributed valuable to the business, Dominion’s Performance Review software allows approved managers to integrate merit increases directly into payroll. The desired increase is reviewable by other managers before its submission and final approval.

If you’re ready to automate review cycles, set up goals and competencies, and improve your overall performance review experience, request a demo for Dominion’s Performance Review software!