Know about Performance Management

Updated in November - 2024 | Subscribe to watch greytHR how-to video

As an organization grows, managing employee performance effectively becomes important. However, it does not have to be complicated. 

Performance Management System (PMS) can simplify managing employee performances by helping them stay motivated and also aligned with the company's goals. With PMS, you get a simple, organized way to manage employee performance without any stress. From goal setting to reviews, the system does it all, so employees can focus on delivering great results.

What is Performance Management?

Performance Management is a software that helps organizations track, measure, and improve employee performance by setting clear objectives and giving regular feedback. It is a digital guide to performance tracking and development, which ensures everyone is working towards a common goal. You can think of it as a roadmap for your employees' growth. It is also known as a performance evaluation or performance appraisal system.

Performance Management may be referred to differently in various organizations such as KRA (Key Result Areas) and KPI (Key Performance Indicators). In greytHR, we refer to KRAs as Goal Plans that define the key areas of focus and the KPIs as Reviews that track the progress within those areas. 

How do organizations benefit from Performance Management?

• Set specific, measurable goals so employees know what is expected.

• Provide timely feedback for quick adjustments and growth.

• Align work with goals and recognize achievements to boost motivation.

• Use stored data for smooth, transparent reviews and promotions.

• Save time for strategic tasks by automating performance management.

What does greytHR Performance Management offer? 

greytHR's PMS simplifies performance evaluations with goal setting, tracking, feedback, and customizable reviews. It aligns employee performance with business goals and integrates outcomes with rewards, fostering continuous improvement through insights and reports.

How to get started with Performance Management on greytHR?

A quick glimpse of greytHR Performance Management

Get started with Performance Management

Get started with greytHR Performance Management in three simple steps:

1. Set up performance period

2. Create goal plan

3. Create review cycles

Other related links:

• Set up performance period

• Create goal plans

• Manage goal plans

• Create review cycles

• Manage review cycles

Recommended links:

• 4 Ways to Use Data Analytics for Employee Performance Management

• Performance Management System

• Goal Setting and Alignment

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