Top 10 Performance Management software – 2021

Performance Management software

What is performance management? What is performance management software? What are the top 10 performance management software? Questions to ask on Performance Management Software Demos? Well, you will need to know all these to make a strategic alignment between your employees work and the goals of your organisation.

What this article covers:

What is Performance Management?

Performance management is an important process for managing the employees of your organisation through continuous communication and feedbacks. It’s a constantly evolving process and new trends emerge annually and too often.

Organisations are now understanding the importance of effective performance management systems within their organisations, as without it the employees are unengaged, demotivated and are not very effective in their works. Managers too often feel helpless and frustrated at the poor performance of their employees at an individual and team levels without a proper performance management system in place.

Performance management is thus a formal and strategic process that focuses on aligning the goals of individual employees with that of the organisational goals. Decisions by the company to pay bonuses, hikes, promotions and even terminations are all linked to this process.

A good performance management system is as crucial as a good management board of the organization.

What is Performance Management Software?

The managers use performance management software to establish performance standards of the employees and then evaluate them based on their job performance. Implementing performance management system helps the managers to manage an employee’s performance, progress as well as their growth and development with respect to the organisational goals.

The HRs in any organisations are the ones who generally implement the performance management software to support the manager-level employees across various departments within the organisation.

Advertisement



Some of the common features available in any performance management software are as follows:

    • 360° feedback among the managers and the employees
    • Goal tracking for individual employees
    • Dashboards with reports and analytics of employee performance data
    • Facility for employee performance review
    • Integration with third-party applications to track employee’s historical data

Choosing the best performance management software

If you are planning to get your company’s first performance management software, then you’ll need to do some market research for performance management. It can start with understanding of the current trends as well as the prominent features that you might need for your company requirements.

The best performance management software will be able to definitely improve the employee engagement through recognition, transparency and regular feedbacks.

Top 10 Performance Management Softwares

Paylocity

Paylocity

Paylocity was founded in the year 1997 by an American billionaire businessman named Steve Sarowitz. Initially known as Ameripay Payroll Ltd, the company was renamed as Paylocity in the year 2005.

Paylocity is an all-in-one web-based payroll and HCM solution software that assists the HR professionals in easily managing their daily tasks. These tasks includes benefits, payroll, talent acquisition as well as workforce management. The solution provided by this software does a great job in reducing the administrative tasks by accurately maintaining the time and attendance data for the employees in one place.

Advertisement



The Paylocity application is also accessible using the mobile devices which makes it accessible 24×7 from any location at any time.

Paylocity platform

Some of the features of Paylocity are as follows:

    • Employee Recognition
    • Performance Management
    • Goal Management
    • Interactive Candidate database
    • Web recruiting tool
    • Built-in 360 reviews
    • Time & Attendance Management
    • Employee Scheduling

CLICK TO TRY PAYLOCITY


Zoho People

Zoho People

Zoho People is a cloud-based HR software solution that is suitable for every size of business. It helps to automate the employee performance reviews by providing various features like the 360-degree feedback, employee self-appraisal, goal setting and tracking, multi-level reviews, etc. This HR software helps the organisation with better insights through comprehensive reports on individual performance.

The Zoho People software allows the users to create customize modules by incorporating forms and tabs based on personal needs. Customizing the modules is quite simple using the drag and drop functionality.

There is an employee self-service feature in the application that allows employees to access, modify as well as update their own records based on the organisational compliance.

Zoho People platform
Some of the features of Zoho People are as follows:

    • 360 Degree Feedback
    • Performance Management
    • Self Service Portal
    • On-going Performance Tracking
    • Calendar Management
    • Reporting/Analytics
    • Payroll Management
    • Time & Attendance Management
    • Mobile Learning

CLICK TO TRY ZOHO PEOPLE


Oracle PeopleSoft

oracle-peoplesoft

PeopleSoft originally existed as an independent corporation and was founded in the year 1987 by Ken Morris and David Duffield. It had its headquarters in Walnut Creek in California, but later moved to Pleasanton.

The company got acquired by Oracle Corporation in 2005 and since then the name and product line of PeopleSoft has been marketed by Oracle. Oracle being the global leader in the database industry and other business software solutions, offers a complete portfolio of ERP systems and applications of trade industry to over 400,000 customers in 145 countries around the world.

The Oracle’s PeopleSoft ERP is designed to reduce costs and improve the operations through the Oracle cloud. This application helps the firm to manage risks and reduce compliance issues by automating and centralizing transactions.

Oracle’s PeopleSoft can offer financial control and reporting, credit to cash, in-memory financial allocations, procure-to-pay, treasury management, expense management, and various other additional applications that are useful for any industry, especially the public sector and the financial industry.

Advertisement



Irrespective of the size of the industry, this system is highly scalable, thus making it good fit for small start-ups, to growing companies as well as well-established large enterprises.

Oracle PeopleSoft platform
Some of the features of Oracle PeopleSoft are as follows:

    • Performance Management
    • Expense reports
    • Payroll system
    • Time Management
    • Employee data
    • HR data
    • Benefits Manager
    • Tax calculation

CLICK TO TRY ORACLE PEOPLESOFT


BambooHR

bamboohr

Bamboo HR is a US based technology company and was founded in the year 2008 by Ben Peterson and Ryan Sanders provide Human Resource software as a service. The company has its headquarters in Lindon, Utah.

The BambooHR is a cloud-based Human Resource (HR) management software service for small and mid-sized businesses. It offers a single platform to consolidate all employees and HR related data, while managing a number of human resource activities.

Using the online platform from BambooHR, companies are able to track and manage the vital information about their employees in a personalized HRIS system.

The HR teams and the HR departments can use the BambooHR application to improve their hiring process, onboard employees, analyse and maintain employee data, manage compensation as well as use the workforce data analytics to manage every aspect of employee lifecycle.

BambooHR software is used in more than 70 countries world-wide and includes clients like FreshBooks, Fitbit, Klout, and Squarespace to name a few.

BambooHR platform
Some of the features of BambooHR are as follows:

    • Performance Management
    • HR Reporting
    • Employee Database and Records
    • Electronic Signatures
    • Bamboo Payroll
    • Employee self-onboarding
    • Application Tracking System (ATS)
    • Mobile Application
    • Absence & Leave Management

CLICK TO TRY BAMBOOHR


GroSum

GroSum

Grosum was founded in the year 2009 by Souvik majumdar, who’s an engineer from IIT Kharagpur and an MBA graduate from IIM Lucknow. This Performance management system has been awarded for Innovation in ICT by the Govt. of India in 2011.

It is basically a cloud-based performance management solution used by small and midsized businesses and is in use by more than 175 customers worldwide. With more than 10 plus years of experience in the market, GroSum has the flexibility to support anything related to the performance management process within your company.

Primary features of this software include performance reviews, goal setting, 360° feedback, analytics, scheduling, notifications or alerts.

Other top features within their service includes providing feedback, compensation management, scoring and grading and bonus management. The managers and employees within the company can receive real-time engagement through the check-in modules via feedbacks.

The software is compatible with most of the known PC platforms like the Windows, Mac and Linux. It is also very much usable in the mobile devices and the company provides full support via emails as well as through phones.

Advertisement



Grosum offers three different plans, the first being the Performance Review plan which has a minimum monthly rate of $100 for 50 users, then we have the Feedback & OKR plan having a minimum monthly rate of $500 for 25 users and finally the 360° Feedback plan which is charged at a minimum monthly rate of $1000 for 30 users.

Grosum platform
Some of the features of  Grosum are as follows:

    • Continuous Performance Management
    • Flexible Review Process
    • 360 Degree Feedback
    • Automated Review Letters
    • Automated Email
    • Instant Feedback

CLICK TO TRY GROSUM


Lattice

Lattice

Lattice people management software company was founded in the year 2016 by Jack Altman and Eric Koslow who met each other while working at Teespring. The company helps the HR teams with software to help them build their management infrastructure with goal setting, real-time feedbacks, etc.

Lattice is used by Human Professionals across various industries and is a cloud-based performance management solution. Companies can customize solutions given by this performance management software to suit their requirements.

The Lattice people analytics software gives the managers and HR’s a comprehensive view of what is happening in the company, so that they can take a better decision based on the driven data.

This software allows the employees to set-up their individual tasks and track them as well until completion. The progress of all the teams can be viewed through the productivity graphs and the HR managers can perform performance reviews using the Admin dashboard.

The special feature of this software is that it keeps sending constant reminders to the employees till they complete their performance reviews. Support for this application is provided via email.

The pricing for the Lattice system costs as low as $3 per person per month with the Grow plan, and goes upto $12 per person per month for the Performance & Engagement plan. In between there is a Performance plan too, which is charged at $9 per person per month.
Lattice platform

Some of the features of Lattice are as follows:

    • Performance Benchmarking
    • Messaging Integrations
    • Action Item creation
    • Reporting & Dashboarding
    • Employee Pulse surveys
    • Employee Segmentation
    • Goal & Challenge Creation

CLICK TO TRY LATTICE


Workday HCM

Workday HCM

Workday was founded in the year 2005 and launched by November 2006 by David Duffield and Aneel Bhusri. David was the former CEO and founder of the ERP company PeopleSoft, while Aneel was the chief strategist at PeopleSoft.

Workday HCM is a cloud-based HR management solution which can be used by businesses of varying sizes to meet their present and future needs. Their user-friendly global system ensures that the users are always provided with the latest version of their software with up-to-date capabilities.

Various capabilities included in the Workday HCM includes HR management, Recruitment and talent management, payroll, attendance, compensation and benefits, learning & development, etc.

The educational institutions can also benefit from the module offered by Workday that includes curriculum management, recruiting and admissions, records handling, financial aid tracking and advising.

Advertisement



Workday offers support to its customers via email as well as online help desk.

Workday platform
Some of the features of Workday HCM are as follows:

    • Onboarding and Offboarding
    • Absence Management
    • Performance Management
    • Compensation Management
    • Reporting & Analytics
    • Worker Profile and Skills Management
    • Benchmarking
    • Business Process Management

CLICK TO TRY WORKDAY


15Five CPM

15Five

15Five was founded by David Hassell, an American businessman in the year 2011. The idea of the company came from Hassell, when he and his team implemented a “5-15 report” that was used to keep track of his employees as well as business. It is based on the concept that employees are supposed to spend no more than 15 minutes to write the reports, while managers should spend no more than 5 minutes to read them.

Basically, 15Five is an HR management system that provides the business owners with multiple tools to track and manage their employee’s complete performance. It is one of the leading continuous performance management solution that not only helps the employees in their growth and development, but also enables them to become their better selves.

Mangers within the company can use the 15Five CPM to get the weekly updates about their staff members. This can be done through feedbacks collected through custom questionnaires and using it to analyse the performance of the employees through analytics and reports.

15Five gives the managers almost everything that is needed to maintain checks on the employee’s performance. Some of the tools included are Objective tracking (OKR), 360° reviews, recognition, and a new revolutionary style of engagement survey.

The 15Five services are used by thousands of companies across the globe and some of them includes WPEngine, HubSpot, Credit Karma, SalesLoft, Flipsnack, etc.

Apart from your office computes, this software is accessible using both the iOS and Android devices. There are 3 subscription options here, first being the Basic which is priced at $7 / employee / month, then the Plus priced at $14 / employee / month and finally the Performance plan which is more of a custom plan with custom pricing.

15Five
Some of the features of 15Five are as follows:

    • User, Role, and Access Management
    • Performance Management
    • Reporting & Dashboards
    • Employee Pulse Surveys
    • Goal and Challenge Creation
    • Employee Segmenting
    • Peer Recognition
    • Social Feedback Portal

CLICK TO TRY 15FIVE


Leapsome

leapsome

Leapsome was founded in the year 2016 by Jenny Podewils and Kajetan Armansperg and has its headquarters in Berlin, Germany. This software was created to help companies to get better tools for the employees, managers as well as the company as a whole.

It is an HR platform that features a combination of all the major tools required by the small and large organizations alike for their success. It provides performance management, employee engagement and employee development related tools among many others required by the companies.

The platform provides tools required to align, enable and develop the employees by using features that assists in employee onboarding and learning, OKR and goal management, employee engagement surveys, performance reviews, 360-degree feedbacks, as well as one-on-one meetings.

Leapsome platform is used by top level executives as well as HRs of many leading companies (including Trivago, Spotify, Babbel, Mercedes-Benz, etc) to develop and enhance their performance management processes.

There are 4 subscription module options here, first being the Perform which consists of Performance reviews and 360° reviews, second is the Align which consists of Goals, OKRs and activity feeds, third is the Engage that comprises of onboarding surveys, benchmarks and best practice libraries and finally the Grow option that comprises learning & onboarding paths as well as Feedbacks and praise.

Advertisement



Each of these modules starts at 7 USD per user per month, billed annually.

Leapsome
Some of the features of Leapsome are as follows:

    • Onboarding
    • Performance Benchmarking
    • Individual OKR
    • 360 Reviews
    • Company Goals and OKRs
    • Continuous Feedback
    • Dashboards and Reports

CLICK TO TRY LEAPSOME


Betterworks

betterworks

Betterworks was founded in year 2013 in the Silicon Valley, by Kris Duggan who’s an Australian-born entrepreneur, investor, advisor and an educator. This software is meant to provide you with most of the organisational tools and data that is required to make your company better in terms of productivity and profitability.

Using this platform, the companies are able to execute their businesses with agility as the employees are empowered to perform at their best. Continuous performance management provided by betterworks helps the employees to easily set their goals/OKRs as well get feedbacks.

Betterworks is loaded with lots of features that can be ideal for small as well as growing companies to keep the managers as well their teams to be always on track.

This system is capable of unlimited scalability and can easily integrate with Slack, Jira, Salesforce, etc.

Betterworks doesn’t give much information about its pricing and can be obtained directly from the company website based on your requirements.

Betterworks platform

Some of the features of Betterworks are as follows:

    • 360° feedback
    • Performance Management
    • Progress Tracking
    • Dashboards
    • Qualitative Analysis
    • Recognition Tracking
    • KPI Monitoring
    • Goal Management

CLICK TO TRY BETTERWORKS


Questions to Ask on Performance Management Software Demos

Before finalizing the performance management software to buy for your firm, it is important to research several different options to choose from. Having a prepared list of questions to check against each of the software can help you to save time and get the best solution for your company’s requirement.

Advertisement



Some of the basic questions that you could look for are as follows:

    1. Sophistication – How simple and user friendly is the software to handle basic and complex tasks for performance management?
    2. Security – Will all your company data be fully encrypted and secure? Will there be regular data backups, and will those backups be encrypted?
    3. Scalability – Will the software be able to support the increase in the number of users from hundreds to thousands if the company grows in future?
    4. Support – What is the average response time for any query related to the software? Is the support available 24×7?

Final Advice

In conclusion, the Performance Management software makes it easier to identify small problems within the organisation and correcting them before it goes beyond control. As the focus of performance management is on year-round communication and goal-setting, companies are able to achieve better productivity and spend less time on crisis management.

With a good performance management system in place, the employees are able to experience a greater sense of engagement and feel empowered. They understand that performance management is there to help them in their work and give them greater control in their career development.

Merin
Merin is an HR professional with an MBA in Human Resource. She likes doing a lot of research and study in the field of Human Resource and can't help but share her knowledge on the same in this platform. She is also a great cook and during her free times she keeps experimenting with new dishes. Know more about Merin by clicking here.