What are the benefits of introducing Performance Management?

There are many benefits to introducing a performance management solution within an organisation. We work closely with our clients to make sure that we provide a solution that aligns to their needs and available budget. This could be the delivery of a simple online appraisal system to eradicate administration time and paper usage, or a platform that supports company-wide culture change.

Empowers both managers and individuals

Most performance appraisal systems can help increase productivity by streamlining paper based processes and providing faster reporting. However, again Actus stands out from other providers as it has an open design which gives greater visibility and empowers managers and individuals to take control of the annual appraisal process, reducing the workload for HR and increasing accountability and buy-in from the end users.

Increases employee engagement

Unlike other performance appraisal systems, Actus™ has been designed to encourage meaningful year round performance conversations which increases employee engagement (which is a business benefit in its own right). Many of our clients have introduced Actus™ as the foundation of their employee engagement or organisational development strategy. We can arrange an informal discussion with a member of our team to outline how other clients have used Actus to implement their employee engagement strategy.

Increases compliance and reduces risk

Actus has been designed to increase compliance and reduce risk through better documentation of all performance management processes through the 1 to 1, performance improvement appraisal and recording of key qualifications. This allows organisations to demonstrate adherence to process and provides increased compliance.

The payback period for investment in our Performance Management solution is on average six months.  The introduction of a performance management culture will positively impact staff attrition rates, in turn reducing recruitment costs. The onboarding of new staff will be much more effective and efficient improving retention rates safeguarding associated investment.  Taking a continuous performance management approach will result in a stable, engaged and motivated workforce. 

Productivity

  • Removes paper and associated administration from HR
  • Aligns staff effort with key objectives (greater focus on performance can return 20% increased productivity)
  • Increases visibility of individual performance (cost of HR and admin time running and collating paper based systems for 1000 staff (£12,800)
  • Ensures objective management becomes an ongoing process

Value     

  • Increases ability to target training and minimise associated costs
  • Reduces attrition/Increased talent retention
  • Reduction in recruitment costs (recruitment and replacement of top talent can be as high as £80,000)
  • Cloud-based – no need for costly upgrades or CAPEX costs
  • Reduces waste associated with paper based PM process

Governance

  • Increased evidence and audit trail of conversations (the average cost for an employer at a tribunal, win or lose, is £8,500)
  • Increased ability to meet Audit/IIP or CQC requirements (fines for data protection breaches from £500 up to £500,000)
  • Increased visibility of qualifications and their expiry dates
  • Data follows individual throughout career

Engagement     

  • Increases clarity of role and focus on what is expected
  • Creates the ability for regular interaction and feedback
  • Embeds a year round approach to people management
  • Increases accountability through greater involvement