9 Best Employee Performance Management Software for 2022 (Free & Paid)

» What is performance management software? 

This software is a unique tool that can spur employee productivity and improve overall business performance. It provides organizational goals for employees, teams, and management and ensures they are aligned to the optimum. 

You don’t need an annual review process to track your employee’s performance; with these performance management software systems, you can track your employee’s performance in real-time, set goals for them, and attain feedback.

» How to choose the best employee performance management software?

Choosing performance management software can be challenging, but considering a few essential aspects can make your decision-making process manageable. You should first understand your business requirements, such as identifying your problem areas. You should then set your goals for the system. 

Look into a system that is easy-to-use, convenient to understand, and user-friendly. When choosing software, you should check the features, especially the ones you require. Keeping in mind the current scenario, you should also keep an eye on its compatibility features – it should be able to sync with your existing system. 

Learning modules are a must; the system should provide you with them wherever required. You should be able to get and give quick feedback and should be able to get round-the-clock system support.

» Top 9 Performance Management Software in 2022

best Performance Management Software

1: BambooHR

bambooHR-best-performance-management-software

Are you looking for award-winning customer support in performance management system software? BambooHR aids you in conducting employee processes differently than any you’ve been doing it. It has been pioneering this marketplace for over a decade, with over 21,000 customers worldwide. This software is flexible for a customized evaluation. It allows you to improve your employee’s overall performance without losing time, effort, and money. It also allows you to conduct reviews to the best levels without manual effort.  

Features!

  • Effective performance management aid
  • Action-oriented, meaningful, and frequent reviews
  • 30/60/90 day check-ins and review cycle
  • Automated reminders with real-time notifications
  • Single and team status reports
  • Award-winning customer support and service

Benefits!

  • Employees tend to connect with BambooHR software immediately because it is easy to use and access – the complete system is user-friendly.
  • You can get rid of the endless paperwork with the ready-to-use review forms available on BambooHR – it will save you a lot of workforce, time, and money.
  • This online performance management software is 100% automated; you can view the updates, notifications, and performance updates in real-time.

Pricing

BambooHR offers premium services, but for the pricing, you must contact their sales team; they will give you a customized package with the best available prices. You can opt-in for a free 15-day trial.

2: 15Five

15five-best-performance-management-software15Five is one of the best performance management software companies to choose from if you search for a flexible, holistic, and insight-oriented solution for HR managers. It is user-friendly for employees too. It offers a round-the-clock performance management solution; it is an all-in-one solution for the HR team. It allows you to offer a positive culture for employees at their workplace. 15Five has a powerful philosophy to abide by and a highly intuitive human-created system. Over 2500 companies have enrolled with this software. The brand is known for its proven methods, transparency, quality feedback, and expert support.

Features!

  • Flexible and holistic design
  • Automated, insight-driven dashboard
  • A-Z performance management solutions
  • 360o approach for reviews and ratings
  • HRIS integration for automated data management
  • Loved by employees and HR managers
  • Easy-to-use, customized review templates
  • API integration with 3rd party productivity apps

Benefits!

  • Using the 15Five performance management software, you can boost the productivity of your business and increase employee retention and satisfaction.
  • You can control and operate the dynamics of your remote teams using this single software – enjoy the all-in-one employee performance management tools.
  • This software is an ideal solution for your team if you are searching for an innovative method of providing employee feedback.

Pricing

15Five offers performance management system names packages, which are classified into four categories. The charges are per user per month, and you will be billed annually for the package. The packages are designed in such a way that they can cater to small businesses and large-scale enterprises.

  • Engage: $4/month
  • Perform: $8/month
  • Focus: $8/month
  • Total Platform: $14/month

3: HR Cloud

HR Cloud-best-performance-management-software

The HR Cloud employee performance management software drives your business growth and results. It aids in effective hiring, efficient communication, transparent engagement, and collaboration between managers and employees. You can improve your complete employee’s experience with the automated manual processes available on this software. Companies ranging from startups to well-established enterprises use HR Cloud to manage their employee’s performance, management, and more. This employee performance management systems have multiple solutions and tools that can cater to your needs as per your requirements.

Features!

  • Comprehensive HR solutions
  • Employee onboarding and off-boarding
  • Employee experience platform (EEP)
  • Time-off management and payroll integration
  • Customizable reviews and self-evaluation
  • Automated dashboard with 360o feedback 
  • Real-time insights and reports

Benefits!

  • With this software, you can make a customized performance management plan that suits your company’s needs and clarifies your employee goals. 
  • Setting individual goals using this performance management system software allows you to develop personalized reports with decision-oriented insights.
  • You can use the one-form-fits-all review template for evaluation; additionally, you can use templates with short answers, multiple choices, and numerical ratings.

Pricing

HR Cloud provides you with customized packages with scalable performance management system software. Currently, the brand is offering a 20% discount on annual packages (whichever you choose.) You can contact the sales team with your requirements to ensure you get the best budget-friendly quotation for your business. 

4: Lattice

Lattice-best-performance-management-software

Lattice performance management software systems can make every employee in your company empowered, seen, and supported. We all agree that the new-age work culture directly affects the business’s success; therefore, this system is a holistic, tailor-made solution for small and big companies that wish to build a people’s team. You can elevate employees’ work and culture and acquire continuous feedback to ensure your enterprise gains undisturbed growth and development. This software narrows down the bridge of transparent communication between managers and employees.

Features!

  • 360o project-based feedback cycle
  • Collaborative agendas and integrated plans
  • Real-time performance reviews
  • An in-office platform for public recognition
  • Intuitive tools for better communication

Benefits!

  • The assessment cycle of this Lattice software is extremely user-friendly, while the performance interface is highly interactive.
  • This employee performance management software is easy-to-implement, becoming a lightweight, in-demand product for small-scale businesses and large enterprises.
  • This software allows you to enjoy uninterrupted performance management reviews and contribute to continuous company growth and development.

Pricing

Lattice performance management software starts at $11/person/month and is billed annually. The software has several features, and you can get a package designed per your requirements. You must contact the sales team for a customized enterprise package if you want a catered solution.

5: Clear Review

Clear Review-best-performance-management-software

Clear Review provides an ongoing platform to engage your employees continuously and improve their productivity. This software ultimately helps boost your business’s growth and profits. It is highly intuitive and can become integral to your employee’s working style. It is one of the best employee performance management software to choose from as it is flexible, interactive, and follows company policies and values. It offers a culturally-shifted employee performance management that can help you evaluates employee performance year-round.

Features!

  • Unrivalled adoption by users
  • Extremely adaptable and configurable
  • Academy for performance management
  • An intuitive model for performance review
  • Year-round performance evaluation
  • Collaborative and flexible goal-settings
  • Insightful and reliable feedback

Benefits!

  • With this software, your company’s managers and experts can make perfect decisions regarding pay raises, succession planning, and promotions.
  • You can analyze an unbiased behavioural change using the software for frequent, insightful, genuine, real-time reviews and feedback.
  • You can deliver clear organizational strategies using software’s goal settings that are collaborative, fully automated, and 100% flexible.

Pricing

Clear Review offers three major employee performance management software packages: starter, standard, and ultimate plans. The website prices are disclosed, but if you decide to buy the services, you should call the sales team and discuss your requirements. They will be able to offer you an ideal package that fits your needs and budget.

6: PerformYard

PerformYard-best-performance-management-software

PerformYard has earned a name among the performance management software companies. It is a top-rated brand that offers simple, flexible solutions for HR, performance management, and employee experience. Major industry giants have chosen PerformYard as their partner software. The software provides 100% automated, seamless, user-friendly, and flexible solutions depending on teams, individuals and departments. Keeping in mind the modern-day requirement, PerformYard offers 100% customizable solutions that ensure you receive goal-oriented output from managers and employees.

Features!

  • Automated reviews and check-ins
  • Flexible goal management
  • 360o reviews and feedback system 
  • Data-driven insights for fruitful reporting
  • Automatic email reminders
  • Sign-off and team workflows

Benefits!

  • With this software, you can conduct standard core integrations and enhance goal management using a single system in the most flexible manner possible.
  • It offers a fully operative, automated dashboard where you can view all HR processes and their updates on a single screen at a glance.
  • This software is highly praised – it is seamless, saves time, and is exceptionally HR-friendly, customizable, and user-friendly for employees.

Pricing

For professionals, PerformYard offers packages that range between $5 and $10 per month per user. Enterprise packages are customized per client’s needs; they offer a free consultation, allowing them to analyze your needs and offer you a budget-friendly solution.

7: Trakstar

Trackstar-best-performance-management-software

Today’s top industry employers choose the Trakstar Perform software for performance management in their companies. It promises to supercharge your workforce. More than 30,000 companies worldwide have chosen to be partners with Trakstar. You may not know what “GOOD” looks like – Trakstar will show you. It offers a unique review system with built-in templates to choose from; you can customize your review process per your company norms and requirements. It doesn’t end with reviews; this software offers you templates for engagement surveys to measure employee satisfaction.

Features!

  • Purpose-driven performance system
  • High-performance culture development
  • All-in-one solutions for SMART goal management
  • 360o reviews with real-time feedback
  • Real-time updates, notifications, and newsfeed
  • Automated dashboard with 3rd party app integration

Benefits!

  • Trakstar is an expert at delivering an intuitive system with minimal downtime. It offers all its services along with round-the-clock customer support.
  • This software helps eliminate bias during performance appraisals, keeping managers and employees aligned to the same development goal.
  • Leave behind the traditional workspace as this software generates 360o feedback by analyzing every aspect of your employee.

Pricing

You can enjoy a live demo of employee performance management software. If you want a premium version of this software, you must contact the sales team, who will guide you through the purchase process. They will design a customized, feature-rich package that suits your needs, meets your policies, and fits your budget.

8: Cornerstone Performance

Cornerstone-best-performance-management-software

With Cornerstone, you can enjoy limitless growth by aligning your business and workforce strategically. It offers a uniquely designed performance management process that suits your workplace structure and required goals. It would not only shape and strategize your present but will also empower your future with data-driven decisions and success-oriented work plans. It can make your employees ready for the future comings. Cornerstone provides the software and partners in the complete employee performance management process. It is a complete platform that caters to all needs, from people experiences to performance management.

Features!

  • Agile performance management solution
  • In-depth and comprehensive employee feedback
  • An effective and efficient training facility
  • Succession management checklist
  • Pulse employee engagement surveys
  • Accurate data with an automated dashboard
  • Real-time notifications, updates, and newsfeed

Benefits!

  • The powerful filters designed in the performance management system enable you to view global and accurate data when making decisions related to talent strategies.
  • All the review outcomes are data-oriented and based on objectives; it helps generate development plans that focus on business growth and take care of employee development.
  • The software helps keep track of employees’ efforts; none of them should go to waste, making it possible for managers to make informed decisions on bonuses, salary appraisals, and basic remuneration. 

Pricing

Cornerstone caters to all the organizations uniquely depending on their individual needs; therefore, you need to talk to the experts sitting on the other end to ensure you find a budget-friendly package wherein each feature is helpful for your company.

9: Synergita

Synergita-best-performance-management-software

If you are searching for performance management software, then Synergita Perform is something that you shouldn’t miss out on. It allows you to initiate endless performance activities that are goal-oriented and result-driven. It offers wide-range compatibility when considering multiple devices, variant channels, and HRIS applications – with this software, you can access it on all. It narrows the communication bridge between managers and employees and provides employers with year-round performance and engagement updates. It has more than 350,000 subscribers worldwide. This software has won many awards for its user-friendly interface and glitch-free performance.

Features!

  • Peer recognition with rewards and awards
  • Performance planning (PIP) with skill mapping
  • Balanced alignment of strategy, results, and people
  • Automated HR system for a new world
  • AI-powered analysis of sentiments
  • Conflict-free integration and API system
  • Easy, seamless HRIS integration

Benefits!

  • With this software, the clients can achieve excellence in performance, employee engagement, and accountability as the tools easy-to-use and the outcomes are result-driven.
  • With Synergita Perform, the clients can configure work processes from the front end itself. It simplifies HR processes, allowing you to cross critical business growth and development milestones.
  • The software is effective and highly efficient, making it easy for you to achieve goals you’ve been planning for years.

Pricing

Synergita Perform is employee performance management software, which must be subscribed to as a whole to enjoy all features and associated benefits. Round-the-clock customer support is available for easy integration. You will be charged $50/month per user with an annual billing format. You must contact their sales team for an excellent deal if you wish to combine this product with other Synergita products.

» Frequently Asked Questions (FAQs)

1. What are the benefits of having performance management software?

Performance management software reviews end the tedious annual review process and let you explore other vital company areas. It encourages continuous communication between HR managers and employees. The 360o feedback features enable peers, supervisors, and subordinates to give feedback on improvement and performance. With this software, you can avoid gender biases witnessed in various situations during performance reviews. 

2. What will be the future impact of performance management software?

This software is the future of employee management and company growth when comparing performance management software with manual reviewing. This system is sure to acquire high-end improvements with artificial intelligence technology. Not only in the field of improvements will this next-generation system with advancing technology help companies meet their growth goals.

3. What goals can you achieve from performance management software?

Performance management software for small business helps enterprises in addressing the continual goal of monitoring employee performance and providing them with support and feedback at the same time. Goal achievement is only possible upon adaption. The more you adapt to the technology, the better you will be able to achieve your business goals.

4. What are the significant trends in performance management software systems?

The three significant trends of employee performance management software, are listed here. First is the work impact that is 100% hybrid. The second is acquiring seamless employee check-ins along with continuous, real-time feedback. Third is utilizing the performance information that you get in real-time to improve employee performance and satisfaction and increase business growth and goals.

5. Why does performance management software fail if they aren’t the best?

Your employee performance management systems, can fail without an adequate performance process structure. It is bound to fail if the system doesn’t offer you rewards, appraisal suggestions, and support. It can also fail if you’ve selected an incorrect employee goal. Communication barriers and overemphasizing employee performances are other reasons such software fails.

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