Oracle NetSuite announced a range of enhancements to its platform, including a new performance management application in SuitePeople.
Broadly speaking, the updates are meant to help small and mid-market companies improve management and operations across the organization. In SuitePeople, employee onboarding, payroll and performance management capabilities have been added..@NetSuite's Performance Management module now taps into data generated by employees in their day-to-day work, #HR #HRTech Click To Tweet
New onboarding checklists allow HR to tailor its programs according to a new employee’s role, with the goal of making them more productive, more quickly. The checklists outline a process that runs from offer to equipment-ordering and setting up direct deposit.
Enhancements to SuitePeople Payroll help organizations manage retirement-plan deductions by facilitating action on compliance issues and automating employer and employee matches.
Performance Management Using Real-World Data
The most interesting enhancement, however, is NetSuite’s new approach to performance management. Besides centralizing administration of the process, the Performance Management tool ties into other areas of the organization-wide NetSuite platform. From there, it collates performance metrics and applies them to an employee’s goals, laying the groundwork for discussions between workers and managers.
“We’ve leveraged the power of the suite to connect the individual to the work they do across the suite,” said Oracle NetSuite Vice President of HCM Product Management Hanif Ismail. “A lot of the work that people do is it recorded in the suite. Well, why not leverage that data to connect that individual to the work that they’ve done?”
Ismail said NetSuite’s approach was developed after conversations with a number of customers. A key challenge companies described was engaging people with the whole process of performance management. NetSuite’s product team decided the solution lay in NetSuite itself, specifically its ability to capture data from systems employees used in their day-to-day work.
For example, Ismail explained, the CRM system captures a variety of data based on a sales person’s work, such as opportunities and win rates. Incorporating that information into performance management “connects the individual to the actual work they’re doing within the suite,” Ismail said. In addition, he noted, the system is “self-maintained,” allowing both manager and employee to access the same information ahead of any discussions. That allows managers to focus on coaching rather than data collection and review.
NetSuite plans to build out Performance Management with additional features, such as kudos and other expressions of feedback. “The intention is to make this their cockpit, so that all the insight they need to do this performance review is right there,” Ismail said.
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