Table of Contents
» What is performance review software?
A performance review software is a tool that enables employers to review the performance of each employee and spur their productivity to boost their business. The employee review software is the substitute for the annual performance review process with real-time performance tracking and the areas of improvement, called feedback. The employee review systems perform those tasks that cannot be performed manually. It is a flexible tool that enables a business enterprise to adjust employee goals & expectations to the ever-changing circumstances. The employee review system software enables the management to decide on the employee’s appraisal.
» How to select the best performance review software?
Choosing the best performance review software could confuse you if you are new in the business. Thorough research would help identify your needs. Each business enterprise would opt for performance management software according to its requirements. The entrepreneurs seeking a software tool for employee evaluation, engagement, mentoring, and productivity reporting would purchase cloud-based performance review software. Here are some valuable tips for purchasing the right performance review system software.
- Identify your business needs.
- Set the right and realistic goals for your employees.
- Check out the features that you want in performance review software.
- Check for its user-friendliness.
- Compatibility with your system.
- Look for the reviews as you would get an idea about the software support.
- It would also help when you consult your tech-savvy friend or neighbours before making a final decision.
» What is the list of Performance Review Software?
1. Trakstar
Are the stacks of paper consuming more time to complete employee performance appraisals? If yes, it’s time for you to come out of the traditional ways & adapt yourself to the latest technology for performing the same task. If you are looking for software to make your work easy, Trakstar is cloud-based employee performance review software that makes all your management tasks simple & automated. It is also one of the best employee evaluation software for performance that evaluates the employees & helps in rewarding the top performers.
Features
- It is an online performance review software.
- Offers 360-degree feedback within or outside the organization.
- Enables goal setting that maintains the employees & managers on track.
- It focuses on email reminders.
- It encourages comments or notes with timestamps.
Benefits
- It enables better coordination between the managers and the employees
- It helps in tracking goals and competencies.
- It delivers online performance reviews.
- It is user-friendly software.
- It helps in the quick evaluation of performance appraisals of the employees.
Pricing:
Contact the respective vendor to learn about different pricing packages.
2. Lattice
Do you want to make your performance reviews meaningful? If yes, Lattice provides excellent design reviews that help you to the hidden talent for inspiring growth and driving fruitful conversations. It is also the best performance review software for a small company that adapts to your business requirements, whether you run annual performance reviews, quarterly development cycles, project-based, or automated reviews. Lattice also provides templates, workflows, and administrative dashboards that allow you to design, launch, and run the reviews with little or no effort.
Features
- The system offers 360 feedback, self-manager, and direct report feedback regardless of the quarterly or annual review cycle.
- It emphasizes employee recognition.
- Integrated goals into workflows that help the users to focus on goals.
- Storage of feedback in a central location.
- It features the employees with a weekly questionnaire that checks their work progress.
Benefits
- It facilitates building a feedback culture featuring open lines of communication.
- It incorporates company values into the performance management process.
- It promotes automated performance reviews, visible goals, and integration with other apps.
- It helps in developing actionable insights to set realistic and ambitious goals.
- Flexible and adaptable to user requirements.
Pricing
Lattice offers the pricing packages like:
- Performance Management + OKRs & Goals: The charges are $11 per person per month.
- Engagement: The pricing comes to +$4 people every month.
- Grow: The charges are +$4 in a month.
- Compensation: Contact the sales team to know about the compensation.
3. Leapsome
Are you looking for efficient and time-saving performance review software during performance appraisals? If yes, Leapsome is the answer. Unlike many other platforms, the application also helps open value-oriented feedback culture. It is also user-friendly, intuitive, and highly customizable. Leapsome provides HR solutions with an ideal management platform that integrates all features like employee engagement and performance. It provides the tools that help in aligning and developing the employees. The tools include OKR management and goals. Leapsome also helps the user conduct pulse and engagement surveys and gather eNPS to get meaningful surveys and employee feedback.
Features
- It is self-explanatory software.
- It is one of the market-leading people analytics that helps interpret data.
- It is flexible software, having an all-in-one solution that suits your needs.
- It provides the users with a solid psychology foundation and data science.
- It provides powerful integrations and comms tools to HR.
Benefits
- The combination of flexibility and modularity under a single roof promotes more efficiency.
- It helps in tracking and collaborating on your goals.
- It saves your time on automated review cycles.
- It helps in evaluating employee performance across primary skillsets.
- It enables monitoring your team in any location.
Pricing
The modular pricing begins from $8 per user monthly.
4. Insperity
If you are looking for software to align employee goals and business goals to set a stage for open communication to increase the workforce’s productivity, Insperity PerformSmart is one of the best employee performance review software that performs that task. However, it is also essential to consider that the goals you set for the employees are realistic, measurable, and ambitious. Insperity enables you to set and track employee goals. It also facilitates the employees to engage themselves with self-assessment and rate their performance.
Features
- It provides access to the employees according to their job roles.
- It helps get an automated support language according to performance rating with inbuilt feedback suggestions.
- It enables the creation of a competency list independently for measuring employee performance.
- It facilitates the employees to rate their performance with explanations and set their track goals.
- It is one of the top performance review software for small businesses.
Benefits
- It enables monitoring the employees and managers with automatic reminders.
- Best-suited for a medium-sized business that concentrates on employee empowerment.
- Provides the employees with flexible health spending accounts.
- The employees get life and health insurance.
- It helps the employees to boost their productivity via an employee assistance program.
Pricing
Contact the vendor or the sales team to know about pricing.
5. Zoho People
Zoho People is an employee evaluation software for performance that helps assess each employee’s capabilities on parameters like accomplishing the goals set for them. It provides you with the necessary data that helps in evaluating the employees’ performance in every aspect. Zoho People also improves employee performance by enhancing their skills to perform a particular task. For Human Resource Department, it is a constant challenge for them in retaining employees. Zoho People helps them with the features that help them to achieve improved retention.
Features
- It offers a customized layout for each process.
- It makes data collection and management easy in any format.
- Designed to track critical updates through pick list history.
- Generates qualified leads through marketing campaigns.
- Intuitive platform for creating and managing an organization’s training program.
Benefits
- Elimination of mediators & offers autonomy to the employees to maintain their records.
- Easy way of managing to share & sharing your HR documents.
- Allows the employees to centralize their records that have confidential information.
- Enables HR to process performance appraisal cycles.
- It aids the managers and other workers in an organization.
Pricing
Zoho People offers performance review software with 5 different packages.
- Essential HR: The cost of Essential HR is $1.5 per user monthly
- Professional: It comes to you monthly at $2.5/user.
- Premium: The monthly pricing for the premium package is $3.5/user.
- Enterprise: The monthly cost of the enterprise package is $5/user.
- PeoplePlus: $10 per user is the monthly billing for PeoplePlus.
6. viEval
Are you looking for a simple evaluation of employees’ performance, efficiency, and precision? The days of time-consuming paperwork are no more! Hence, the annual review process need not take too much time. viEval does it all! It is the world’s #1 performance review and evaluation software for professional service firms. viEval makes the annual evaluation process effortless. It also helps capture and refine a firm’s performance, especially when working for a client. The software automatically pulls the client’s work and hours from the billing systems for fast and easy evaluations. It would also integrate with viEval’s real-time feedback software throughout the year.
Features
- It offers a simple review process at the end of the year, customized roles, departments, or practice areas.
- Accommodates any routine evaluation exclusively for managers, peers, and self-evaluations.
- It contains 360-degree feedback, professional development, goal-setting & career planning.
- It provides pulling of client work from billing systems for automatic evaluations.
- It supports self-appraisal.
Benefits
- Contains one workflow setup that encapsulates all your evaluation requirements for eliminating complexity.
- It saves the time of evaluation to fetch more effective feedback.
- It ensures that your one year’s work will be ready for evaluation.
- It helps analyze the overall results of an organization, so you focus on individuals.
- It eliminates administrative hurdles through incredible features.
Pricing:
Contact the sales team to get the pricing details.
7. Profit.Co
Profit.Co is a corporate and performance management tool used to observe and evaluate employees’ skills and performance to show them perpetual career growth. Its ultimate purpose is to ensure that employees utilize their opportunity to show their talent and ability with periodic reviews and feedback. Profit.Co also focuses on counselling and nurturing the overall development of the employees. It also enables the HR and the manager to generate a performance review of the employees or team with the help of the recent filters.
Features
- It offers a multifaceted HR review dashboard for an excellent overview.
- It enables HR to view pending or completed 360-degree assessments that include top and bottom-rated employees on completed performance reviews.
- It is a flexible tool for building questionnaires to achieve descriptive & quantitative responses.
- It contains an Agile Performance Management system that helps develop an affinity-based performance review.
- It contains OKRs for assessing employees’ performance.
Benefits
- It drives the continuous performance management system.
- Ideal for organizations of all sizes.
- It helps eliminate unethical bias via birds-eyes views of employees’ work.
- The feedback review system’s frequent performance check-in helps boost 1-on-1 individuals.
- It provides the scope for employees and managers to provide comments with an interactive graphic rating scale.
Pricing
The pricing of Profit.Co offers three versions.
- Launch: The package comes to you for free of cost up to 5 users.
- Growth: The Growth package provides you with a 30-day free trial. After the end of the trial, the rate would be $9 per user monthly and $7 per user with annual billing.
- Enterprise: Contact the sales team to know the pricing of the enterprise version.
8. People HR
Are you looking for performance review software that provides a platform for all essential HR functions? People HR provides you with that feature. Whatever may be your company size, People HR is the ideal performance review software for small companies and enterprises. The HR functionality in People HR includes applicant & personnel tracking, performance review, and others. Never forget to mention the system also contains an employee-tracking database, allowing the users to create new employee records by filling in the basic contact information and storing the documents.
Features
- It helps create a performance review schedule quickly so all employees would get justice.
- The software allows you to set goals online.
- It invites the employees to a 360 review and permits anonymous feedback.
- It provides you with ready-made performance review templates.
- Automatic triggering of emails to notify the users about the latest development.
Benefits
- Easy for the users to operate the application.
- The rich features of the software save you valuable time.
- Easy integration with the HR application maintains your employees’ data safety.
- It provides professional or unbiased performance results for employees.
- Promotes and enhances productivity and progress via goal setting.
Pricing
People HR software offers users professional, enterprise, and elite versions. All of them offer a 14-day free trial. The pricing after the end of the trial version is $5, $9, and $9 per employee in a month, respectively.
9. PerformYard
If you are seeking cloud-based feedback & corporate performance management solution, PerformYard is the cloud-based performance review software that provides you with that solution. It also permits each user to set goals and track their performance. Furthermore, PerformYard assists in other HR processes like onboarding and organizational charts. Many industries, primarily consulting, accounting, information technology, and healthcare prefer PerformYard to perform the human resource and organizational operations. The managers use the application for customizing review questions to provide the correct feedback to the employees.
Features
- It is cloud-based feedback and corporate management solution.
- It is a goal-oriented application.
- It is a flexible and automated software.
- It is a user-friendly application.
- It allows the managers to customize review questions.
Benefits
- It enables the employees and other users to design their strategies.
- It lets the managers use performance insights to check the task status.
- It provides real-time updates on the progress towards the milestone.
- The feedback enables the employees to know their achievements & their next goal.
- It helps the users generate status reports.
Pricing
PerformYard is the performance review software, available in enterprise and professional versions. The cost of a professional version varies from $5-10 per user in a month. The enterprise version comes to you at customized pricing according to your requirements. For more information, contact the sales team of the vendor.
10. Zenefits
Zenefits is employee performance management software with user-friendly tools for goal setting, performance reviews and enhancement, and one-on-one meetings. The main aim is to keep your workforce engaged in their task and accomplish an organization’s standard set of goals—the goal management tools in Zenefits help in achieving that objective. It motivates the employees to focus on their target & be on track, prioritizing the essential tasks to be performed for business growth. Zenefits enables the managers to create, update, and track the progress towards the goal.
Features
- It allows the automatic integration of employee goals in their performance reviews.
- It contains pre-built templates for peers, managers, and 360-degree reviews.
- It allows 100% customization of review forms that allow new templates.
- It schedules and triggers review cycles depending on employee & company actions.
- It contains the tools necessary for a one-on-one meeting.
Benefits
- It provides a complete solution for assembling and administrating best-suited benefit plans for the employees.
- It comes to you with the advanced technology to design business strategies.
- It enables HR to attract and retain top talent.
- It saves your time on administration tasks.
- It makes compliance easy by reducing costs and relieving business risk via the ACA solution.
Pricing
Zenefits comes to you with the following pricing:
- Essentials: It comes at the cost of $8 per employee every month.
- Growth: The cost for growth is $14 per month, depending on the number of employees.
- Zen: It costs $21 per employee monthly.
Hence, pricing depends on the number of users working on that software.
» Frequently Asked Questions (FAQ)
1. What is the purpose of performance review software?
Performance management software aims to make HR and management work more efficiently. It is an application designed to set goals for your employees to accomplish within the deadline. Also, employers use that application to track employee progress. The ultimate goal is to work towards the betterment of an organization.
2. Why is performance review software important?
Performance review software promotes efficiency and accuracy of the performance review of the employees in an organization. It also enables the users to experience a hassle-free operation. Here are the reasons to state the importance of performance review software:
- It allows performance tracking for the entire year.
- It enables automatic reporting.
- It allows 360-degree and real-time feedback from customers, peers, and managers regarding employee performance.
- It helps in goal and objective setting.
- Performance review software offers flexibility and automation.
- It enables HR to maintain the confidential details of the employees.
- Performance appraisal software enables you to keep track of personal development plans.
3. What does HR do with performance review software?
HR plays a vital role in designing and implementing performance appraisals via performance review software. They are the mediators between the management and the employees. Hence, they are responsible for a smooth appraisal process. The HR also maintains and implements performance management systems. The management depends on HR for the smooth functioning of their company. So, HR uses performance review software to reduce their workload and save time. They would also maintain the record of the employees with the help of performance review software. HR depends on performance review software for evaluating the performance of the employees and reporting the same to the management. They also use that application to attract and retain talent in the company.
4. What performance management software is the best for small businesses?
If you have a small or a startup business, Lattice or Insperity would be the right choice. However, it would also depend on your mindset and budget.
5. What is cloud-based performance review software?
A cloud-based performance review software helps analyze the top, average, and non-performers in an organization immediately.
6. What is the best employee performance review software?
Every software has its pros and cons. So, there is no clear winner. The opinion about the best employee performance review software differs from individual to company or company to another. Hence, it would depend on the business requirement, which changes periodically.
