Website Netlify Link: https://develop--viewpms.netlify.app/

Overview A performance management system helps businesses track and evaluate employees' productivity. This provides managers with insightful feedback on areas to upskill workers to deliver quality on the job. Also, PMS lets managers align employees towards business objectives and identify potential bottlenecks that impede workers' performance.

Why are we doing this?

Managing and retaining top talent is challenging. PMS resolves this, clarifying how an employee's work syncs with the company’s goal. It helps workers understand the metrics that impact their performance and how to use them to execute tasks effectively. PMS fosters a healthy, transparent, and stress-free workplace that boosts productivity.

How do we know this is a real problem worth solving?

Research shows that businesses without PMS struggle to optimize their talent. Productivity may decline as workers lack a system with relevant metrics for tracking performance and identifying lapses at work. PMS empowers open and flexible work procedures, helping staff meet their professional objectives and upskill.

Additionally, PMS provides valuable insights that will inform broader human capital management decisions.

How does this fit into the overall company objectives?

An end-to-end PMS caters for talent improvement from their recruitment into the company to their exit. Managers set SMART goals for employees via PMS to track and align individual efforts with company efforts.

What problem is this solving?

Performance management systems are designed to solve several problems that organisations may face, including:

Misalignment of employee goals Poor employee performance Poor communication and transparency Lack of motivation and engagement Inefficiency and low productivity Difficulty retaining top talent Absence of Integration Ignoring Change Management in System Implementation Lack of Leadership Commitment Manual performance evaluation processes

Who are we solving for?

Our solution is for web3-based businesses, seeking a web3 native platform for talent management. This product aims to proffer a solution for organisations with complex or manual performance management processes.

What are the user benefits?

The user benefits of this product include but are not limited to

Boost consistency and reduce bias: In an organisation, a streamlined and automated procedure promotes consistency and minimises bias. You won't forget to conduct staff reviews or check-ins thanks to workflow automation, and data insights ensure that your decisions are unbiased and just.

Improved processes: The firm may determine whether staff training methods are effective with objectivity, a streamlined procedure, and data insights. A solid process depends on knowing which training packages are effective.

Retain employees: Strong manager-employee relationships, open lines of communication, and regular meetings all aid in coordinating employee goals with overall company goals. The likelihood that an employee will remain at their employment increases when they can find meaning in their work. Develop employee careers and achieve business goals: Developing your personnel is the key to expanding a business. A single goal management methodology, data insights, and time-saving automation tools offer prospects for business expansion and personnel advancement.

Reduced stress: Regular feedback and a consistent, established performance review process can improve employee-employer relationships, enhance communication, and reduce employee anxiety. Employees who have a clearer understanding of expectations, what metrics they’re being reviewed on, and how their performance is affecting the overall business experience less stress ad be more engaged in their day to day work.

Better productivity: Without consistent and formal reviews of employee performance, it’s impossible to identify the gaps that are hindering your employees from doing their best work. It’s not necessary to hire perfect employees; those who have a solid skillset, good experience, and a personality and work ethic that fit your company's culture can be incredible assets. If they lack certain training or need motivation, it’s possible to address these things as part of your performance management process and create the strongest team possible for your organisation.

Better documentation and reduced risk: Businesses have a huge responsibility to be compliant with employment and labour laws. Without proper documentation, you could be at risk for lawsuits or other legal issues if a terminated employee sues your business for unlawful termination or discrimination. Employee reviews and other employee performance documentation help protect your business and ensure that you’re following all necessary and relevant laws.

Goals Completing the project by May 2023. Acquire the first 10 companies in six month of launch in 2023 Achieve 90% customer retention rate after the first year of launch. Create a product which helps to deliver the outstanding performance goals of the client's users. Create unique product offering to satisfy client expectations

Success Metrics We will track the following metrics to measure success:

Customer acquisition Customer retention rate (CRR) Customer satisfaction Customer Lifetime Value (CLTV or LTV) Return on investment (ROI)

Pricing and Compensation The cost per user would be $6, with $4 going toward the primary subscription and $2 going toward compensation. The total cost per company would be determined by the number of employees registered, so if there are 50 employees enrolled, the monthly compensation cost would be $2 x 50, or $100. It would be $1200 annually, and the 10 best employees in the organisation might each receive an equal share of this money. It may occur every month, every quarter, every two years, or every year.

Every employee's earnings in USDT can now be used to purchase whatever the employees want.

Users The users of the PMS would comprise of 4 different user groups which are Admin - Read and write Access to all organisations registered in the PMS

HR/Employer- Read and write access to all employees in their specific organisation

PM- Read and write access to all assigned Staffs

Staff and employees have read and write access to only their profiles.

Requirements

Integration with HR systems: A talent management system should be seamlessly integrated with an organisation's HR systems, such as payroll and benefits management.

Customization: A talent management system should be able to be customised to meet the specific needs and goals of an organisation.

Ease of use: The system should be user-friendly, with a simple and intuitive interface that makes it easy for employees and managers to access and use the system.

Scalability: The system should be able to scale as the organisation grows, with the ability to add new users and features as needed.

Mobile accessibility: With more and more employees working remotely or on the go, it's important that a performance management system is mobile-friendly and can be accessed from any device.

Data security: A performance management system should have robust security measures in place to protect employee data and ensure compliance with relevant laws and regulations.

Reporting and analytics: The system should provide detailed reports and analytics to help organisations track the effectiveness of their talent management efforts and make informed decisions.