What is the Best Performance Management Software?

Managers often lean on performance management tools to keep their employees engaged and on track with their tasks. With so many different product offerings on the market, it can be challenging to sift through to find a solution that solves your specific needs. As your organization contemplates a return to normalcy, whether on-site or remote, take time to evaluate your performance management solutions and learn about these five tools.

This article discussing the pay-for-performance compensation model and the benefits and drawbacks of this strategy was originally published in May 2015. All relevant copy and statistics have been updated as of April 2021. In today’s competitive talent market, employers need to find ways to engage their employees and capitalize on competitive advantages to attract and retain A Players. One area that organizations can customize and personalize their strategies is in their compensation model for employees. Employees want to work for an organization that values the effort they put in, and employers want to find a strategy that attracts talent without breaking the bank. One compensation strategy that has been discussed in the HR space is the pay-for-performance model. Join us as we dive deeper into what this compensation strategy is and the impact of implementing it in your organization.

This article on performance management strategies and best practices was originally published in December 2017. All relevant statistics and copy have been updated as of March 2021. Performance management improvements are typically a continuous project. When you think about the effectiveness of your performance management process you may ask yourself: Is my strategy working? Who’s doing it best? How can I get my team to assume accountability? In past discussions about performance management on our blog, we’ve recognized that the general process for creating a performance management strategy is as follows: