(From Business Wire) -- For mid-sized organizations, performance
management may seem like an unnecessary bureaucratic exercise, in
part because of manual, paper-based processes. But a solid
performance management strategy, coupled with the automation of key
processes, can give organizations a significant competitive
advantage and help to drive business growth. A new white paper from
learning and talent management software provider Cornerstone
OnDemand, "Performance Management Solutions for the Midmarket
Organization: Why Bother?" examines the business benefits of - and
best practices for - creating a performance-oriented culture in
Readers of Cornerstone's white paper will learn how the right
performance strategy and technology support can help midmarket
organizations achieve the following:
- Improve efficiency and compliance. According to CedarCrestone
research, automating the performance management process can reduce
operational costs by 20 percent.1 These cost savings are due in
part to the reduction of errors inherent in manual processes.
Automation also helps managers to provide constructive feedback to
employees on a more frequent basis - and in less time.
- Make performance reviews relevant. Organizations with
best-in-class performance management processes are 47 percent more
likely to reinforce formal annual reviews, supplemented with
informal reviews at least once per quarter.2 Technology can
transform performance management from a once-a-year event into an
ongoing process that also includes development plans and learning
- Maximize productivity and pay for performance. Top performers
almost always exceed the performance of average workers by at least
25 percent - making them valuable assets to an organization.3
Technology solutions can nurture better performance, focus
individual efforts on key business strategies, and make it easier
to recognize and reward superior performance.
Download the complimentary whitepaper here.