Importance of Cloud-based Performance Appraisals
Performance appraisal is an evaluation method followed by enterprises to identify strengths, contributions, and areas of improvement of their employees to distribute their duties and decide give them financial raise accordingly. Employees are assessed on the basis of KPIs set at the time of joining and the evaluation takes place at different time intervals, including monthly, quarterly, half-early, and annually as per the company’s policy. People who have a say in the candidate’s employment activities are consulted by the HR team to conduct the performance appraisal. These stakeholders are reporting managers, team leads, project team members, directorial board members, and so on.
Assessing employees’ performances manually is hectic for both HR team members and managers. Noting it all down on a paper or excel sheet and then using ad-hoc process for evaluation can create not-so-friendly appraisal score and thereby demotivate the employees. Thanks to the advanced technology for inventing the cloud-based performance appraisals. Unlike paper or excel based evaluation, cloud-based performance appraisals bring ease and accurate results for evaluation.
Why Do Organizations Need Cloud-based Performance Appraisal Software?
In the beginning, these software solutions needed bigger computing power, huge investments, and trained staff to run the system in a company. It restricted the use of such software as only big enterprises with huge finances could afford it. Fortunately, it has evolved significantly; therefore, all small and big businesses can now have it. Advanced performance appraisals like SuiteVal require no software installation as they are browser based software.
Here is why every organization needs a cloud-based performance appraisal tool.
Data Privacy and Security
Most of the HR related data is privacy sensitive, consisting of a lot of financial and demographic information of the company and its employees. There is no doubt that security aspects of applications and data are much better taken care of by a cloud-based HR solution. Primarily, a cloud-based software is created for security from the ground up, with apps and data being hosted remotely on a regular basis. Another benefit is related to restricting and managing both ID based access and physical access to data.
Ease of Use
Cloud-based performance appraisal tools, such as SuiteVal are easier to use and don’t require any training beforehand. This solution can be used by any HR team member without having any trouble. It allows enterprises to implement an advanced performance management procedure.
Automatic Software Updates
Human Resource Management is the department that is always concerned about the compliance aspects. Another great advantage of using an online performance appraisal tool is software updates take place automatically and on a timely basis, which is of great value from a compliance perspective.
New business regulations, such as privacy requirements for employee data, take place every year. Most of these regulations need businesses to make comprehensive reports at frequent intervals. Also, they need to certify that any software used conforms to the latest regulations. Since cloud-based solutions are managed by professional vendors, automatic updates take place to meet the latest regulations effortlessly. It is important to consider that the applications come with built-in advanced reporting capability, creating reports for compliance purposes also becomes an easy task.
Less Discrepancies and Errors
Automated solutions, like SuiteVal, collect feedback from stakeholders and they report decisions without bias. When the entire process is carried out manually, poor communication between stakeholders and HR sometimes result in discrepancies. On the other hand, cloud-based appraisal systems provide clear options to rate employees as per their KRA and KPI. Their scores are recorded and presented to the final decision making authority, so there is no chance of errors.
