Performance Management Software vs Learning Management Software
Human Resource Management (HRM) Software has come a long way in recent years. The software has made employee management and tracking faster and easier. This software can help your employees to be more productive and organized, and they can also help you to manage your workforce effectively. There are many types of HRM software available, and two popular types of HRM software are Performance Management Software and Learning Management Software.
Performance Management Software
Performance management software is designed to help employers track and manage the performance of their employees. This software can help you to identify areas where employees are struggling, improve productivity, and motivate employees to achieve their goals. Performance management software usually includes features such as goal setting, performance evaluation, and feedback management.
Learning Management Software
Learning management software, on the other hand, is designed to help employers provide training and development opportunities to their employees. Learning management software can help you to track employee training, monitor employee progress, and measure results. Learning management software usually includes features such as online course creation, tracking, and reporting.
Comparison
To evaluate the best type of software for your organization, here's a comparison between performance management software and learning management software.
Features
As mentioned before, performance management software is used to evaluate the performance of your employees. It includes features like goal setting, performance evaluation, and feedback management. Whereas, learning management software is used for learning and development purposes, as it includes features like online course creation, tracking, and reporting.
Benefits
The benefits of performance management software include identifying areas where employees need improvement, setting goals for employees, and providing feedback to improve employee performance. Whereas learning management software can help develop employee skills, improve employee engagement, and help with employee retention.
Usage
Stats show a great demand for both tools, with approximately 73% of companies using performance management software and around 98% of organizations using learning management software, according to Statistics on e-Learning Penetration in the Workplace.
Cost
The cost of these two types of HRM software varies depending on the features they offer. A single license for performance management software usually costs between $5-10 per user per month, while a single license for learning management software costs around $10-20 per user per month.
Conclusion
To sum up, performance management software and learning management software are two important parts of HRM software. They both have unique features and offer great benefits to businesses. The type of software required for your organization will depend on your goals and the type of workforce you have. However, using both types of software can provide a holistic approach to managing employee performance and development.