13 Best Employee Performance Management Tools to Watch Out

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It’s not hidden that both employers and employees dread the process of performance review.

This is because most of them don’t know what to expect during the feedback round.

However, conducting performance reviews once or twice in a year is a thing of the past. It is now a continuous process, and managers are expected to keep track of their employees’ progress on a regular basis.

It can be quite overwhelming to keep track of each employee manually. Truth be told, it is hardly a feasible option.

That’s why major global corporate giants are now leveraging employee performance management solutions in this field.

Here we will discuss the top 13 employee performance management tools that will help improve employee engagement.

But before that, let’s first understand the concept of performance management thoroughly.

What is Performance Management, and Why is It Necessary?

Performance management is about establishing a channel of continuous communication (and feedback) between employers and employees.

The main purpose is to ensure that all employees are working efficiently towards achieving organizational goals. It helps solve problems that the employees might be facing to keep their productivity level intact.

This can be easily conducted with the help of employee performance management tools.

This performance management software is a set of tools designed to help employers or managers to create accurate job profiles and set expectations, draft organizational goals, and align them with their responsibilities.

It helps bring transparency to the workplace.

Performance management tools are necessary for two reasons:

• It makes it easy to conduct the annual performance review as both the parties know what they can expect.
• It indicates that the manager values their employees, and so they become more motivated than ever before.

How does Performance Management Software Work?

Performance management tools help align your workforce to organizational objectives and measure and evaluate individual employee performance continually against results.

It digitally tracks all activities to ensure that the progress graph is going in the right direction. To understand how it works, let’s look at its workflow chart.
The Workflow of Employee Performance Management Tools

It is a series of four steps:

1. Planning

In this stage, managers are expected to lay out their expectations from their team members individually.

They should communicate the goals and objectives and tie them to specific metrics to measure them.

2. Monitoring

Managers need to track their employees’ work progress towards those goals. That’s why the goals need to be measurable.

Monitoring tools make it easy to track progress.

3. Assessing and Reviewing

This is the stage in which each employee’s performance is rated periodically and then at the time of appraisal.

Every staff member can give ratings for 360-degree feedback. This data is then analyzed to provide detailed insights on how to improve your employees’ performance.

4. Rewarding

Tracking employee performance and rewarding high achievers proves to be extrinsic motivation beyond goal-setting.

These rewards can be promotions, bonuses, social recognitions, and others.

Best Employee Performance Management Tools

1. ReviewSnap

An all-in-one performance management software, ReviewSnap enables you to develop your staff by enhancing and automating performance review. With over 350 competencies and 360-degree reviews, your staff can get better, constant feedback that will enable them to improve 24/7. It is robust, flexible and user-friendly. It not only streamlines administration work and tedious performance appraisal processes but also improves communication and productivity.

Features

• e-Signatures
• Automatic notifications
• Job specific templates
• Custom templates
• Self-appraisal
• Peer appraisal
• Self-service portal
• Goal management+tracking
• Ongoing performance management

Pros

• Individual development tracking with “9 Box Reporting”
• Review permissions for discretion

Cons

• Customer service is not very prompt

2. Recruiterbox

This performance evaluation solution provides 360-degree feedback in a simplified, easy to grasp manner. Set goals and manage performance appraisals effortlessly with Recruiterbox. HR executives can set SMART goals for employees, which can be strategically aligned with the organization’s objectives. If your organization is looking to take the leap from paper appraisals to automated, online appraisals, Trakstar is a wonderful choice.

Features

• Real-time reporting
• Custom workflows and forms
• Automated email reminders to users for task completion
• Performance trendsSelf appraisals
  
• Peer appraisals
• Applicant tracking
• Job posting
• Collaborated recruitment

Pros

• 9 box grid to generate insights on employee performance and potential Engagement surveys

Cons

• No customization on review period works on annual review basis only
  Reporting can be complex
• Needs more customization capability in general
  

3. Qandle

An end-to-end performance management software, Qandle is smart, fully configurable and has a mobile app that ensures connectivity on the move. It is highly intuitive and a holistic HR solution with talent management, payroll, compliance, expenses, and travel management modules.

Pros

• 360-degree feedback provision
• Powerful interactive calendar view
• Smart and flexible leave management with fully customizable tracking
• Visual dashboard with key metrics display for better decision making
• Attendance management and field force tracking
• Supports multiple operating systems such as Windows, Linus, Android, iPhone and Macintosh

Cons

• May require some basic training and setup support

Pricing

There is a free trial plan with limited features. There are three paid pricing plans:

Regular: Rs 79 per month for each employee

Plus: Rs 99 per month for each employee

Premium: Rs 129 per month for each employee

4. PossibleWorks

This artificial intelligence powered performance management platform is popular due to comprehensive integrations, novel features and agile goal management. PossibleWorks enhances workforce effectiveness by improving focus, transparency and alignment of performance processes.

Pros

• Flexible goal alignment as it allows to choose from monthly, quarterly or annual goal periods
• Multi-level reports with advanced HR analytics
• Single sign-ons for automatic logins
• Regular check-ins and real time feedback
• Cascading goals structure real-time tracking

Cons

• Does not have a monthly pricing plan for clients

Pricing

PossibleWorks offers an annual pricing plan known as the possibilities plan at Rs 3168 per year.

5. UltiPro

This sophisticated SaaS-based financial performance management system is designed to provide a superior employee experience. UltiPro is a great tool to enhance employee learning, facilitate accurate payroll and leverage advanced surveys through intelligent business reporting.

Pros

• Predictive and prescriptive analysis tools
• Paperless system and highly compliant
• Capable of measuring engagement through sentiment analysis
• Useful features such as benefits, tax, attendance and leave management
• Highly scalable, customizable and provides 24/7 support through live representatives

Cons

• Mobile app has some features missing from the PC software.

6. Impraise

A multi-faceted employee performance management software, Impraise accelerates professional growth through continuous reviews, structured goal alignment, check-ins, and real-time periodic feedback.

Pros

• 360-degree insights for comprehensive performance growth
• Light-weight check-ins for goal clarity
• Visual and navigable dashboard for informed decision making
• Predictive and prescriptive analysis tools
• Safe, secure and scalable cloud-based system

Cons

• User interface and notifications can be improved.
• Support team could be more responsive

Pricing

Impraise pricing is per month per user, and it is calculated based on a number of considerations. A free demo is offered for interested users to check out the system capabilities.

7. PeopleFluent

An integrated human capital management tool, PeopleFluent ranks high amongst employee performance management tools due to its embedded analytics, social collaboration, and holistic performance management functions. It’s a talent management suite includes recruiting, performance, succession planning, compliance and vendor management.

Pros

• Robust application tracking system that simplifies resume parsing workflows
• High-quality system implementation with a responsive team
• Intuitive, visual and well-designed metric dashboard
• Streamlines formal appraisals, goal-setting and competency assessments
• Models and designs end-to-end compensation programs

Cons

• Customized reporting is not very developed.
• Does not always scale to the size of the user organization.

Pricing

There is subscription based pricing that is calculated according to individual organizational requirements.

8. Vibe Talent

This powerful HR software is an ideal choice for start-ups and small-medium enterprises. Vibe Talent offers a diverse range of recruiting, onboarding communication, learning, and talent management solutions – it is indeed a must-have performance management software.

Pros

• Self-service portal for single-point access to Hr tools, social connections, recognition initiatives and engagement surveys.
• World class product and customer support
• High-quality system implementation with a responsive team
• Advanced branding and personalization capabilities
• End-to-end process automation and embedded social capabilities

Cons

• May take time to learn and use all its features

Pricing

Vibe Talent provides a free demo for users to check if the software is perfect for their requirements. The vendor may be contacted for a detailed monthly or annual subscription quotation, based on company requirements.

9. Synergita

Synergita cloud-based performance management platform automates talent data management, goal alignment, continuous feedback, and employee development. It is user-friendly, customizable and has great client support round the clock.

Pros

• Can be easily integrated with any pre-existing HR system
• Individual development plans for employee feedback
• Continuous 360 feedback automation
• Custom templates and individual development plans for each employee
• Dashboard of advanced widgets for actionable insights
• Automates the performance management cycle though goal tracking at every stage

Cons

• Turnaround time on service requests is a bit slow.

Pricing

Synergita provides a free trial for organizations to check system compatibility. There are various pricing plans based on modules and features purchased.

10. 15five

15five is the top-leading employee performance management designed to bring more transparency at the workplace. It helps align individual goals to the company’s objectives and gain full visibility into their workforce. You can measure engagement anytime you want and uncover issues and challenges if any.

Further, it can be useful for managing remote teams as well.

Features 

• High security
• Integration capability
• Request feedback
• Best self-review
• OKRs
• Check-ins
• 1-on-1s
• Reporting

Pros

• Easy to use interface
• Powerful question bank

Cons

Pricing

15Five provides three pricing plans at Basic, Plus, and Performance level. These are charged based on the number of users and Key features you select.

11. Oracle HCM

Oracle HCM is a complete solution for all your HR needs — from hiring and onboarding to tracking and measuring performance employees. What makes it unique is that it offers a guided, step-by-step workflow to make it simple. It enables you to create a personalized experience for every individual with relevant content and insights to drive productivity.

Besides, it provides complete, accurate, and real-time visibility across your workforce, allowing you to make faster and better decisions.

Features

• Compliance regulation
• Absence management
• Workforce health and safety
• Create SMART goals
• Reporting and analytics
• Career planning
• Time and labor

Pros

• Easy access with a rich interface
• Good documentation and manuals

Cons

• A bit on the expensive side

Pricing

The price starts at $8 per month per user.

12. Bamboo HR

Bamboo HR offers a robust HR solution that comes well-equipped with the resources and tools required to carry out performance management efficiently. It generates employee performance reports whereby managers get deep insights into how their team members are performing. These reports are simple and enable you to compare performance individually as well as by department.

Moreover, its continuous feedback system is something to look for. It sends out automated reminders and notifications to inform employees about their progress and goal completion.

Features

• Goal status report
• Centralized database
• Talent management
• Check-ins
• Automates alerts and reminders

Pros

• Customer support is top-notch
• Simple and intuitive

Cons

• Reports customization is missing

Pricing

BambooHR offers a free demo for organizations. There are various pricing plans based on modules and Key features purchased.

13. Engagedly

Engagedly is a real-time performance management tool that is refreshingly simple and intuitive to use. It can be used by all sizes of businesses — small, medium, and large. Engagedly makes it easy to set up a 360 review process in just a matter of a few minutes.

It can also help with setting up of OKRs and keeping your employees engaged.

Features

• Performance reviews
• Real-time feedback
• Ongoing check-ins
• Goals
• 360 Feedback
• Recognition
• Social learning

Pros

• Clean layout
• Reliable customer support

Cons

Pricing

Engagedly provides you with a free demo before you make your final decision. You can either choose a detailed monthly or annual subscription quotation, based on your requirements.

Performance Management Software Comparison

The global enterprise performance management market was valued at $4.7 million in 2016 and is estimated to reach $12.5 million by 2025. It is growing at a CAGR of 11.70% from 2018 to 2025. Clearly, the importance of an employee management tool can’t be undermined.

Software	Free Demo	Platform	Integration	Mobile	Goals	Analytics	360 Degree Feedback
ReviewSnap	✔️	Windows, Mac	✔️	✔️	✔️	✔️	✔️
Recruiterbox	✔️	Windows, Mac	✔️	✔️	✔️	✔️	❌
Qandle	✔️	Windows, Mac	✔️	✔️	✔️	✔️	✔️
PossibleWorks	✔️	Windows	✔️	❌	✔️	✔️	✔️
UltiPro	✔️	Windows,Mac	✔️	✔️	✔️	✔️	❌
Impraise	✔️	Windows,Mac	✔️	✔️	✔️	✔️	✔️
PeopleFluent	✔️	Windows,Mac	✔️	✔️	✔️	✔️	❌
Vibe Talent	✔️	Web app	✔️	✔️	✔️	✔️	✔️
Synergita	✔️	Windows	✔️	❌	✔️	✔️	✔️
15five	✔️	Windows,Mac	✔️	✔️	✔️	✔️	❌
Oracle HCM	✔️	Windows,Mac	✔️	✔️	✔️	✔️	❌
Bamboo HR	✔️	Windows,Mac	✔️	✔️	✔️	✔️	✔️
Engagedly	✔️	Windows,Mac	✔️	✔️	✔️	✔️	✔️

Final Thoughts

The performance management process is continuously evolving. If you want success, you should follow these three best practices –

• Create a culture of open and effective communication
• Develop an effective performance management strategy
• Conduct continuous monitoring

Implementing performance management tools can lead to a dramatic upswing in productivity and business revenues.

If you need any help with choosing the best PMS for your business, don’t hesitate to call us.

Tell us which system are you currently using? Leave a comment below.