This article is about Oracle Performance Management Benefits and its capabilities.
Today enterprises are focusing on Performance Management, to improve the productivity of their workforce. The main challenge they face is to implement an effective performance management system.
Using Oracle Performance Management, enterprises can:
- Define objectives and track them throughout the year.
- Align individual objectives with those of the enterprise
- Evaluate an single competencies and progress on objectives at a point in time.
- Enable feedback on an individual performance by multiple participants.
Oracle Performance Managements Benefits as shown below:
Create a Library of Re-usable Objectives
- You can able to create an objectives library, for the entire enterprise. All employees have the rights to access the objectives library and copy objectives from it, into their personal score cards (Scorecards are used to track objectives throughout the year).
- Objectives can also be imported to the system library from other performance management systems.
Automatic Objective Allocation
You can automatically allocate objectives to multiple groups of employees and is based on certain defined eligibility criteria.
Managers can cascade their own objectives to their employees either by replicating their objectives or creating new objectives that are associated or linked to their own objectives.
Set Parallel Objectives
You have the flexible way to allow employees and managers to set their objectives in parallel, at the same time.
Record and Track Objective Progress
Employees can record progress against each of their objectives in the personal scorecards. Managers can preview and track the progress of employee objectives and if possible provide feedback and take any action if required.
Automatic Creation of Appraisals
Oracle Performance Management creates appraisals gradually on a specified date for all members of the user designated population.
Support for multiple types of appraisals
Oracle Performance Management supports manager appraisals, self appraisals and multi-participant appraisals.
Collaborative Appraisal System
Information is shared between the main appraiser and the appraisee. Based on the terms of the enterprise, the main appraiser can specify the parts of the appraisal that should be shared with the appraisee.
Include Competencies and Objectives in the Appraisal
You can add competencies based on an employee’s job to be evaluated in the appraisal. You can add objectives from the employee’s personal scorecards to be rated in the appraisal.
Create and Maintain Appraisal and Assessment Templates
HR professionals can quickly create and maintain appraisal templates, competency-assessment, and objective-assessment templates.
Evaluate Employee Advancement Potential
Managers can easily comment on an employee’s career advancement potential within the appraisal.
OPM (Oracle Performance Management) allows you to create and administer questionnaires for the various potential participants in the main appraiser, the appraisal process, appraisee, reviewers, and other participants.
Calculate Final Ratings using Formulas
You can use formulas to perform calculations to derive the final rating. For instance, you can combine competency and objectives ratings to arrive at the final rating value.
Integration with Learning Management
You can also recommend a learning path for the appraisee using OLM (Oracle Learning Management).
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