New Solution from Paycor Allows Business Leaders to Create a Culture of Continuous Development with a Modern Performance Management System
Human Capital Management (HCM) company Paycor launched Paycor Talent Development, a performance management software that empowers companies to focus on continuous development with coaching conversations that will help employees feel more engaged, create the right level of focus and deliver better business outcomes. Paycor Talent Development helps businesses inspire employees, improve efficiency, and align their workforce to their company’s top priorities.
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Through all of the changes 2020 inspired, managers are having to find new ways to evaluate performance and provide feedback. Traditional performance management solutions are failing to deliver the results organizations need. Gartner stated that 82% of HR leaders said performance management wasn’t effective at achieving its primary objective, and only 38% said it kept pace with business needs. Performance reviews can be a critical component to improving employee productivity and engagement. When performance reviews are done right, organizations see 14% higher employee engagement and 24% higher workforce performance.
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Paycor Talent Development offers a low touch, yet robust, development management platform that provides automated workflows to support your processes. Key product features include:
- 1:1s – Streamline continuous conversation between managers and employees, keeping everyone focused on and accountable for their top priorities.
- Feedback – Improve the communication loop (peers, teams, company) and facilitate a culture of engagement, self-improvement & team development.
- Employee Ratings – Use a 9-box grid to visualize individual employee performance and develop coaching strategies so they can better achieve their potential.
- OKRs/Goals – Work toward the same goals with transparent and aligned objectives and key results (OKRs). Clear alignment of priorities eliminates wasted hours spent on unproductive and non-impactful work.
- Performance Reviews – Pull data from 1:1s, feedback and goals to conduct time-efficient reviews based on historical performance data to reduce bias.