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Organisations are making the move towards cloud-based HR systems and leveraging its capabilities to better manage resources and cut down on non-essential costs. There are many benefits of switching to a cloud-based HR system, and it is especially beneficial for an organisation like ourselves, as we are in a fast-paced industry. We have decided to give a little insight into what changes we have made in order to be even more aligned with our culture and beliefs collectively.
We have recently commenced the rolling out of our new Performance Management System – BambooHR. This new system is another important step forward to moving towards a high-performance culture where everyone is clear on their role, performance expectations and their goals. Like many companies, we had a system which was paper-based and cumbersome. It worked, but with a fast-paced and constantly evolving, changing business like ours, we decided it was time for a change!
Why it is important to implement a performance management system?
Our objective is to have a robust and agile Performance Management (PM) system which empowers managers and leaders to drive high-performance teams which build into talent management and development consistently across the globe. We want to enable employees to drive their own career ambitions and provide clarity on the expectations, goals and objectives of their role. We are moving from traditional reviews to more meaningful reviews.
The idea is that the system will provide managers and employees with data to drive Performance Management discussions and that the PM system will form an integral part of managers and employees every day working life. It will not be an annual tick box exercise but an ongoing factor within our employees everyday working life. With this, it can bring about improvements to be the best we can be in our roles. 😊
How are we Implementing the Performance Management System?
Our new Performance Management system is an upgrade to the current HR system which is BambooHR. The Performance Management system requires:
Semi-annual Performance Assessments
These are filled out by both manager and employee separately and are blinded until both have completed the assessment individually. These 7 questions are to be completed in advanced. Then, followed by a meeting or call between both employee and manager, so it is not your traditional cumbersome process.
Semi-annual Peer Reviews
Employees are to provide peer review on their co-workers. What better person to ask for feedback than the person who works with them everyday? These are done anonymously, so they do no need to fret. Also, the peer review is short and simple with only 2 questions. We encourage all to be honest in feedback in order to allow for growth.
Quarterly Goal Setting
A brief meeting happens between employees and managers to discuss the goals to set. These goals are S.M.A.R.T goals and both parties have to agree on. Once they reach an agreement, managers will enter the goals into BambooHR. If goals have been set from the previous quarter, then they will discuss on the progress and work on setting new goals.
Benefits of Implementing a Performance Management System
One of the pros of moving to BambooHR is the ability to update goals anytime. This helps goals to accurately reflect what employees are trying to achieve. Moreover, employees and managers are able to update and comment on the progress of the goals. This is definitely a motivator! We all love praise and completing those little tasks call ‘WINS’ from time to time. This is also one of the ways we can motivate employees virtually while they are all working from home. The system also sends our reminders prior to the due date of goals.
Furthermore, our goals are all S.M.A.R.T – Specific, Measurable, Attainable, Realistic and Timely. By having SMART goals, we will be able to work even ‘SMARTER’. This is a powerful tool that gives everyone a voice – employees, managers and leaders alike so that we, in return, can provide our customers with the best quality services.
Essentially, this is an amazing system that we are very excited about. It will definitely help us to start improving, growing and learning even more!