Organizations are continuously striving to improve their ability to assess and measure employee performance. Employee Performance management aims to improve an organization’s bottom line by motivating employees to perform better. It also links the workforce’s and individuals’ goals with the organization’s overall mission and aims. Choosing the correct performance management software, on the other hand, is a battle in and of itself.


14+ Employee Performance Management Software

1. Engagedly

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Rating: 4.7/5

Price: $4/Month

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2. Lattice Performance Management

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Rating: 5/5

Price: $9/Month

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3. BambooHR Performance Management

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Rating: 5/5

Price: Free

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4. Trakstar

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Rating: 4.7/5

Price: $4370/Year

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5. AssessTEAM

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Rating: 5/5

Price: $72/Month

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6. 15Five

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Rating: 5/5

Price: $7/Month

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7. Synergita

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Rating: 5/5

Price: $30/Month

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8. HRSoft

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Rating: 5/5

Price: Custom

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9. Zenefits Performance Management

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Rating: 4.9/5

Price: $8/Month

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10. Zoho People

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Rating: 4.5/5

Price: Free

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11. PerformYard Performance Management

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Rating: 4.9/5

Price: $5/Month

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12. SAP Successfactors

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Rating: 4.5/5

Price: $84.53/Year

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13. Namely

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Rating: 5/5

Price: $12/Month

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14. UltiPro

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Rating: 4.8/5

Price: $72/Month

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15. Workday

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Rating: 4.5/5

Price: Custom

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What Is an Employee Performance Management Software?

Employee Performance Management software is a tool that allows firms to assess an employee’s performance and verify if the employee’s goals are in line with the department’s or company’s objectives. Performance reviews, improvement programs, career advances, and wage negotiations can all benefit from these characteristics. This process is streamlined and standardized by performance management software, ensuring that work goals remain aligned with business goals and measures whether an employee’s productivity matches acceptable standards. It also allows for more constant, regular, and effective coaching. Improved coaching aids in the correction of underperforming employees as well as the recognition of outstanding employees.

Benefits

Companies are adopting new technologies to stay competitive as client expectations expand in the market. Similarly, investing in solid Performance Management Software will help you effectively engage your employees in managing their performance. Here are a few of its benefits:

  • Employee Independence
  • Constant Enterprise Feedback
  • Goal-setting that works
  • Employee Analytics That Work

Features

Performance management software, especially if it’s part of a more extensive HR suite, is likely to differ in features and capabilities. However, employee performance management software should include the majority of, if not all, of the following features:

  • Dashboards at a high level
  • 360-degree feedback – the ability to gather input from subordinates, coworkers, and superiors
  • Tracking goals or OKRs (Objectives and Key Results)
  • Capabilities for conventional and non-conventional performance review cycles
  • Planning for development and succession
  • Reminders for the review cycle that are automatically generated

Top 10 Employee Performance Management Software

1. Engagedly

Employee engagement and goals are tracked with Engagedly, a performance management platform. They have a revenue of $8 million and employ 23 people.

2. Lattice Performance Management

Lattice is a people management platform located in California that offers firms performance appraisal, feedback reporting, and employee engagement solutions. They have a revenue of $42 million, 200 employees, and a 68% customer experience rating.

3. BambooHR Performance Management

BambooHR creates cloud-based human resource management solutions for small and medium-sized organizations. They have a $126 million revenue and 600 employees.

4. Trakstar

Trakstar offers a performance management solution for evaluating employees and receiving feedback from their bosses. They have a $12 million revenue and 85 employees.

5. AssessTEAM

AssessTeam is a cloud-based performance management program that comes with companion apps for Android and iPhone. They make $957,000 per year and employ 5 people.

6. 15Five

15Five is a performance management software company specializing in providing businesses with solutions for feedback reporting, people management, and employee surveys. They generate $12 million in revenue, employ 64 people, and have an 89% customer experience rating.

7. Synergita

Synergita is a provider of enterprise-level people and performance management systems. They generate $17 million in revenue, employ 93 people, and have a 74% customer service rating.

8. HRSoft

HRSoft provides cloud-based software that enables firms to pay employees depending on their performance. They generate sales of $13 million and employ 94 people.

9. Zenefits Performance Management

Zenefits is a cloud-based human resources technology that helps businesses handle payroll management and benefits. They generate $105 million in revenue and employ 500 people.

10. Zoho People

ZOHO provides network, information technology, and equipment maintenance. They have a $1 billion revenue and 7,500 employees.

FAQs

What function do human resources play in performance management?

Performance appraisals are designed and implemented in part by the human resource department. The HR department serves as a liaison between the employee and the functional heads or reviewing authorities.

What is the process of performance management?

Performance management is a communication process in which managers and employees collaborate to plan, monitor, and analyze an employee’s job goals and overall contribution to the organization. Employee performance management is a continual process that includes strategic planning, coaching, and reviewing employee performance.

What does it mean to have performance management skills?

An individual’s capacity to ensure that the work of individuals under his supervision supports and furthers the organization’s aims and objectives is referred to as performance management abilities.

In the long run, the company plans to use employee performance management software to meet its stakeholders’ expectations. The company will closely monitor all critical phases of the new strategy to ensure that it aligns with the long-term vision that guides its operations in the industry. More crucially, the firm’s employee performance management software will focus on allowing individuals to enhance their professional capabilities over time by opening up decision-making procedures.


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