There appears to be mismatch between heading and main body of your post. The heading reads "How Does An Employee Engagement & Performance Management System Helps In HR Management?" This is very basic question. Sufficient web resources or books are available in the market. You may but these to educate yourself.
However, the main body of the post talks about impact of advancement in technology on various facets of HR especially on Performance Management (PM) and Employee Engagement (EE). Well gentleman, any technology is only a facilitator or enabler for speedy decision making. It saves time. But then as far as PM is concerned, what you measure is more important than the method of measurement. What if the company does not measure few vital measures that are essential for the business? Same case is about EE also. After measuring EE score, company should go further and use HR Analytics. But what if EE is not measured?
As far as this forum is concerned, there are many posts on EE but all are related to engagement activities in the office but not a single on EE measurement.
Therefore, the challenge is not technology per se but the challenge is awareness of HR professionals on these core subjects. The second challenges is that if HR is knowledgeable on the subjects then their top leadership may not be. They have poor understanding of HR as science. Unless they understand nothing is going to change.
Today, in many company modern HRIS or HRMS systems are used. These are not stand-alone computer based but IT based. Notwithstanding this, companies ask for 90-day notice period before resignation but but take 45-60 days for Full and Final (FnF) settlement? As long as company administration does not eradicate this anomalous practices, the advancement in technology like artificial intelligence or machine learning could turn into artifice.
employee performance management system can help HR in streamlining performance management by automating the performance processes reducing the burden of HR. for instance, Synergita is a cloud-based SAAS software for continuous performance management and employee engagement. With the help of insightful analytics, HR can make informed decisions and create developmental initiatives for improving employee performance.