Employees are crucial because their performance is critical to the overall success of the company. You cannot grow a company on the backs of unhappy and frustrated employees. You need employees who can get the job done, while at the same time doing it efficiently and effectively. Moreover, always keep in mind that employees should represent your organization and its core values in the best light. Employees have a powerful energy to bring to the organization, but that energy can only be utilized properly if you listen to them, understand their wants and needs, motivate them, and guide them wisely.
Read on: Why employees' opinions matter and how to collect them
In this article, we’ll discuss the features that systems like Vault ERP provide to help businesses make the most of feedback to boost performance.
The value of feedback
Employee feedback is crucial for several reasons, serving as a cornerstone for personal and organizational growth. Firstly, it fosters a culture of continuous improvement. When employees receive regular feedback, they gain a clearer understanding of their strengths and areas for development. This helps them to improve their skills and performance, leading to increased productivity and job satisfaction.
Secondly, feedback promotes engagement and motivation. Employees who feel that their contributions are recognized and valued are more likely to be committed to their work and the organization. Constructive feedback provides the recognition employees need to feel appreciated, while also guiding them on how to enhance their performance.
Moreover, feedback strengthens communication between employees and management. Open, two-way communication helps build trust and transparency, creating a more cohesive and collaborative work environment. This, in turn, can reduce misunderstandings and conflicts, improving overall workplace morale.
Finally, effective feedback supports better decision-making. Managers can use feedback to identify trends and areas needing improvement across the team or organization, enabling more strategic planning and resource allocation. In essence, employee feedback is a vital tool that drives performance, engagement, and organizational success. By investing in robust feedback mechanisms, companies can ensure continuous growth and a positive workplace culture.
ERP features that help with feedback
Designed to help with all aspects of your business, ERP software often comes with a variety of features that can transform how you approach employee feedback. Let’s take a look.
Data collection and analysis
ERP software can track key performance indicators (KPIs) relevant to each employee’s role. This data provides objective insights into how employees are performing over time. By collecting real-time data on various activities, ERP systems also provide up-to-date feedback on performance, allowing for timely and relevant feedback.
Read on: Have you properly defined your KPIs to your best advantage?
Time tracking
ERP systems can track the time employees spend on various tasks, helping to identify areas where they excel or may need improvement. This helps in providing feedback on efficiency and time management. Furthermore, time tracking within projects can help managers see how effectively employees are contributing to project goals, enabling targeted feedback. At Vault ERP, we’re particularly proud of our Time Tracking Module, and even use it ourselves to great effect.
Accessible UI
An accessible UI ensures that both managers and employees can easily navigate the system, making it simpler to give and receive feedback.
Centralized processes
By centralizing HR, project management, and performance tracking, ERP software ensures all relevant data is in one place, making it easier to provide comprehensive feedback. Centralization ensures that feedback is consistent and based on the same set of data, reducing biases and discrepancies.
Introducing Vault ERP’s Evaluations Module
The Vault ERP Evaluations Module provides you with the insights you need to improve your business in real-time. It tracks employee performance and productivity at your company. You can see how reliable your team and their job performance are from the supervisor's point of view. Additionally, it warns you of bottlenecks and other issues arising during the month.
With our system, you can track how diligent your employees are when arriving at the office, track their behavior in the office, give recommendations for improvements, and be informed of any incidents. All this can be done through:
- Office presence
- Time tracking
- Recommendations
- Incidents
Time Balance gives you a snapshot into individuals’ behavior, letting you know who has fallen behind in the number of hours worked and who is a go-getter. These indicators are more than just eye-opening, they are crucial to getting to know your employees better. Furthermore, the visually appealing graphics make it easy for a manager to spot the patterns of specific employee behavior repeating over time so that it can be addressed and avoided in the future.
Read on: Manage and track time off easily
Praise motivates: How digital awards can help
It’s not just about monitoring actions; there’s also an emotional component to employee performance. If we all rewind a little (or a lot) back to our school days somewhere in the books was Maslow’s hierarchy of needs – it still stands proudly in the center of the page with its bright colors. The rule of esteem emphasizes that all humans strive to receive praise and be recognized by other members of society.
Are your employees praised regularly, accepted, and valued by other peers, subordinates, or supervisors? What about your all-stars, super-performers, and employees of the month? Are they aware of the great impact they’re making on overall company success?
Mark Twain once said: “I can live for two months on a good compliment.”
Salary is not and should not be the only indicator of job performance. This is where a good system can make a difference. ERP software can manage and automate digital awards for recognizing excellence. Employees can receive immediate recognition for their achievements, boosting morale and motivation. Some ERP systems even incorporate gamification features, allowing employees to earn points or badges for outstanding performance, which can be shared company-wide.
At Vault ERP, we use special badges to reward and appreciate those who deserve it. Employees can give each other a reward followed by a nice message of appreciation. These special badges can also be used as a form of positive feedback to boost the morale of those employees who need that extra nudge in the correct direction. They cost nothing, but are proven to be effective. Challenge employees to become “Good Job” or “Knowledge Share” Masters and reward those who do.
Read on: 8 ways Vault ERP can help your HR department
Rewards like this are an easy and quick way to have a significant effect on the teams and their performance without the need to spend excessive time on individual assessment. More importantly, when it is in real-time and delivered immediately, it can have the biggest impact on both receiver and provider because both are important; giving and receiving. Make appraisals a simple part of your practice.
Boost performance with Vault ERP
Unlock the full potential of your team with powerful employee insights and feedback. From key performance indicators to time tracking, Vault ERP boasts a variety of features that can help your employees become the best they can be. Motivate and praise your employees with the Evaluations Module, or identify key areas for improvement with the Time Tracking Module.
Contact us for a free demo today to find out how Vault ERP’s HR Module can help you.
