4 mins
Employee engagement is important in the modern business environment. Highly engaged employees can boost your company's profitability by 21%. Engaged employees are also easier to retain. In fact, businesses with highly engaged employees have an 18% lower staff turnover.
There are many employee engagement strategies that employers can use, including the use of performance management tools. Using employee engagement strategies is important for employee retention and important for ensuring that your employees can perform to the best of their ability.
Understanding Employee Engagement
It's easy to confuse employee engagement and employee satisfaction. While the two are related, they are not one and the same. Employee engagement is a connection that employees feel towards their organization. Engagement is a mental and emotional state that helps employees feel invested in their job and committed to their organization.
Engaged employees care about getting their job done, and because they feel a genuine interest in their work, they're often more productive while they're on the job. Often, organizations can boost profits by boosting profitability. For this reason, many organizations seek ways to improve employee engagement.
Role of Performance Management Tools in Engagement
Performance management tools are a series of tools that help employees track performance and understand what they can do to improve their performance in the workplace. Performance management tools are key to helping employees make strategic and targeted improvements in the workplace. Using these tools can help employees align their goals with the organization's goals, enabling them to optimize their work and improve efficiency. Performance management tools do things such as:
- Provide continuous feedback. Through performance management tools, employees have regular access to feedback from managers. This helps answer the most basic of employee questions: how am I doing? Providing employees with regular feedback also helps them to make adjustments to their work in real-time, so they can better contribute to the needs of the organization.
- Highlight development opportunities. Performance management tools track employee development. This allows employees and their managers to record training that has already been taken, training that has yet to be taken, and training that would benefit the employee.
Beyond Traditional Appraisals
Traditional performance reviews were given once annually, and between performance reviews, employees often had little or no way to know whether their work and productivity were on target to meet company goals.
In recent years, many companies have switched to a dynamic, continuous performance management system. Under this system, employees receive regular feedback throughout the year, which is recorded in the performance management system. This allows employees to adjust their work habits regularly to ensure their work aligns with organizational goals.
Seizing the Future: The Path Ahead
If your company hasn't yet invested in employee engagement and performance management tools, now is the time. Performance management tools have features such as:
- Feedback tracking allows employees and managers to track and access feedback anytime, anywhere.
- Training management features show managers and employees which certificates have been earned, what has been assigned, training due dates, and other information.
- Tracking for employee disciplinary letters and accompanying HR actions.
Performance management software is essential for businesses in today’s fast-paced environment. Companies that have not yet invested in such software may miss out on opportunities to optimize employee engagement.
Our Performance Management Products
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Engagedly
HR Performance Solutions
HR Performance Solutions helps organizations customize, simplify, and automate meaningful performance processes.
Contact Marbles HR for Performance Management Tools and HR Technology Solutions
If you represent a business that needs performance management tools for your employee development plans, take time to explore Marbles HR Marketplace for your company's performance management solutions.
Our performance management tools are designed to align with your employee engagement strategies and are essential for improving workplace productivity. If you're a performance management product or supplier, contact Marbles HR to learn how to become listed in our Marketplace.
Effective performance management tools are key to revolutionizing employee engagement, leading to a more productive, motivated, and committed workforce. Discover Marbles HR's innovative performance management solutions to boost engagement and productivity in your organization. Get started today!
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