Performance reviews that happen once a year are not very popular among employees. No employee likes to wait for a year to end to receive feedback on their performance. Employees desire more specific, timely, and continuous feedback. Similarly, employers need to identify top performers and spot talent gaps to ensure high productivity in the organization. However, all this seems daunting with a manual performance management process.
Manual performance management eats up a lot of time and is often prone to biases. But with a robust PMS in place, you can get rid of all these issues. Zimyo, a leading HR Tech platform for top performers and growing businesses, has started offering performance management solutions to help organizations overcome these challenges associated with manual performance reviews. The main objective of the solution is to enable organizations to measure their employee's performance in no time.
With this solution, organizations can provide employees with continuous feedback, encourage learning and development among employees, and create an inclusive people culture. Besides helping organizations, this new product also helps employees to track their performance and identify their strengths and areas of improvement from a holistic perspective.
Along with KPIs & KRAs Zimyo’s PMS also helps in setting OKRs (Objectives Key Results) that ensure every employee works in one direction to achieve a common goal. OKR is a performance management tool that is simple, practical, and straightforward which helps in setting, tracking, and measuring feasible or quantifiable goals. Different teams or departments can set different objectives and measure different key results depending on their requirements. We also have a set of company-wide OKR framework (https://www.zimyo.com/okr-framework/) that helps you define your objectives and set clear goals in a hassle-free manner.
The tool ensures a fair and transparent performance assessment or review process, thus helping in improved employee satisfaction.
Continuous performance reviews help organizations identify top talents ready for promotion and determine compensation adjustments. According to research done by Gallup, continued feedback from organizations accounts for 14.9% less turnover than other companies offering annual reviews.
“Investing in a performance management system is a great way to build a motivated and skilled workforce. When all employees are clear on what is expected of them and are aligned with the company’s objectives, organizations can expect commendable outcomes. With this new product, we are helping organizations make quick and informed decisions related to employee growth. The tool will help them offer right opportunities to right people, thus, preventing them from losing their best people”, said Ajay Kadyan, Co-founder, Zimyo.
Zimyo’s PMS is fully customizable and automated and helps you learn and identify actionable insights on both businesses and employees. This valuable performance analytics helps you get clear insights into how well employees are performing, where things need to be improved, which strategy is showing results, etc. All this information helps you take necessary action and address the present and future performance gaps before it becomes a serious problem. An automated system also reduces the administrative burden of the HRs or managers, thus helping in a fast and fair review process.
Deloitte's Global HR Trends research reveals that almost 70% of organizations' performance management processes have been reinvented. This is why organizations have started adopting new tools or systems to manage or monitor their employees' performance.
“For the past few months, we have been receiving a lot of requirements from numerous small and medium scale enterprises that want to improve their company culture by leveraging the benefits of a technology-driven performance management system. And we are delighted to say that with the help of our dedicated and experienced team, we’ve successfully catered to the needs of hundreds of organizations by creating custom performance strategies,” said Kadyan.
Goals setting and management- Improve business performance and encourage employee development by defining and assigning KRAs, KPIs & competencies.
360-degree feedback- Allow organizations to get a clear picture of the employee’s performance, skills, and behaviours by receiving feedback from employees, their colleagues, reporting managers, and other teams.
OKR framework- Set, communicate, and track goals easily so that all employees work towards achieving the same goal. Zimyo offers you a guide and framework built for each and every department present in your organization on how you can set an OKR from scratch in your company.
Employee Evaluation- Measure your employee’s performance and categorize employees (star performers, average performers, non-performers,) using normalization analysis or bell curves.
9-box Matrix- 9-box matrix allows HR leaders to view relevant performance data (such as performance score, potential score, and critical contributor indicator, etc.) at a glance.
Performance Assessment- With performance data stored in one centralized place, it becomes easy for managers to provide positive feedback to their employees, identify areas for improvement, reward, and recognize the top talents and make critical business decisions.
Detailed performance reports and analytics- Detailed performance-specific reports and highly configurable analytics offer deep insights on performance status, progress, strengths, and weaknesses of your employee, top talents, etc.
Continuous Feedback Mechanism- Zimyo’s PMS streamlines and simplifies the process, helps you break down the goal-setting process into clear steps, keeps progress on track, and increases the chances of achieving a goal on time.
To learn more about Zimyo’s PMS visit- www.zimyo.com
Trusted by more than 500+ CHROs, Zimyo is a one-stop solution for all your HR needs.
Organizations such as Bajaj Capital, 88 Pictures, iMocha, Talent Integrators, and other renowned organizations have reposed their faith in Zimyo’s HR solutions to achieve significant improvements in performance, productivity, & workforce engagement.
95% of its partners found Zimyo the easiest platform to switch and set up their complex processes in the shortest turnaround time. Recently, Zimyo has received G2’s Enterprise Leader Badges in Summer 2021 Reports.
These awards take into account customer satisfaction, engagement, as well as market presence. An amazing 95 percent of users rated Zimyo 4 or 5 stars which is a significant number.
Along with performance management solutions, Zimyo also offers Core HR, Payroll, Time & Attendance, Recruitment & Onboarding, Employee Engagement, and Employee Benefits solutions.
If you are someone who is struggling with the following issues:
1. Disengaged workforce
2. Payroll errors
3. Lack of workforce visibility & metrics
4. Cumbersome recruitment and onboarding
5. Inconsistencies in data
6. Too much manual effort & other employee management issues
Then Zimyo’s comprehensive workforce management suite is all you need. Zimyo solutions make every HR task, from recruitment to onboarding, to employee’s last day in the organization, smooth & hassle-free.
So whether you need to automate tedious HR processes or offer innovative & affordable financial solutions to your workforce, Zimyo has got you covered.
Disclaimer: No Deccan Chronicle journalist was involved in creating this content. The group also takes no responsibility for this content....