Are you thinking of evaluating a SAAS performance management solution for your enterprise? Wondering how to start? Whom to ask? Where to look? What to look for? We’ve got you covered. Here’s a phase-wise exhaustive checklist of all the things that are most incumbent to bear in mind before choosing an Enterprise-grade SAAS Performance Management Solution.
- Get a sponsor
- Form an evaluation committee
- Expect the evaluation to take between 10-12 weeks
- Bet on a vendor / digital partner - not just a solution
- Assess the availability of data & stability of your org
- Assess the HR trends in your industry.
- Solution Functionality
- Pricing Terms & Conditions
- Availability or Uptime
- Recovery Capability
- System Response Time
- Accountability for Quality of Product
- Security & Privacy
- Personalisation Capabilities
- Integration Capabilities
- Workflow Capabilities
- Data & Analysis Capabilities
- Responsiveness to Requested Enhancements
- Ease of Upgrade & Control Over Version Updates
- Flexibility to Shift from On-premise to Cloud Deployment
- Hidden Costs like Additional Data Storage & Processing Fees
Solution Functionality fit is one of the most critical aspects to get right in any performance management system to ensure that your performance process runs in a seamless manner. We went the extra mile and created an elaborate checklist/RFP to ensure that you have a definitive guide to all the must-have features that your performance management system MUST contain!
Sharing a quick indicative snapshot below but I strongly advise that you go ahead and download the full version of the RFP TEMPLATE. This will also come super handy when you undertake an overall HRMS transformation exercise.
- An end-user experience (from a UI/UX perspective) that boosts tech maturity & digital experience / leadership, and enhances your overall business performance.
- Alignment with your org’s performance philosophy, be it Continuous Feedback, Multi Stakeholder Feedback, OKR, MDO, Periodic Check Ins, Individual Development Plans, 9 Box Talent Matrix, Succession Planning, etc.
- Ability to provide a consolidated view of every talent’s profile; acting as a vantage point to predict critical metrics like compa-ratio, attrition and such like.
- Extent of integration with other talent-related products like Rewards & Recognition, Engagement, Continuous Feedback, etc.
- Ability to configure and change with time & your evolving business requirements. Because your philosophy could change over time. Today you have OKR, tomorrow you may discover you want MDO. Today you have a 5 point rating scale. Tomorrow you may need a 4 point. Today you have a bell-curve. Tomorrow you may do away with calibrations altogether. So something that is elastic, scalable and tuned to your moving targets.
- Ability to drive transparency, alignment and a collective purpose in the org through deep performance features like Goal Cascading, Balanced Scorecard, etc.
- Ability to seamlessly track KPIs & improve operational & performance benchmarks.
- Ability to show you a persona-based dashboard specific to all the hats you don, be it HOD, Line Manager or Employee.
- Potential to manage performance in a nimble fashion on mobile, balancing TAT with desired business outcomes. The focus being, not just on finishing the cycle on time or responsive and agile performance management, but on running a quick, uncomplicated process that gives you a valuable long-time benefit.
- Ability to team and support a dynamic work environment full of cross-functional teams, linear teams, gig workers, off-shore labour, multilocational managers, individual contributors and so on. A system that supports different types of professionals and workforce in keeping with their languages, backgrounds, shifts, workstyles and preferences.
- Potential to impact culture & nudge desired behaviours in your org through suggestions and tooltips on the product (giving you an insight into a particular feature or defending why it’s important for you). Something that gets you exactly the behaviour you want and expect from your employees.