What is Performance Management Software?
The term ‘Performance Management Software’ is used to refer to the software that helps in performance management of a company. Its main purpose is to improve the performance of a business by suggesting the focus areas for improvement.
It was developed for taking care of annual performance reviews. However, with the changes in the performance management system, the software has also evolved into a system which actively tracks employee engagement, their performance, setting goals as well as providing feedback based on the observations.
Performance management software also helps the company to adapt quickly to the changing expectations of the marketplace. They can track individual employees and suggest improvements on an individual level.