Looking for ways to help your employees and make them happier at work? Don't look any further than performance management that works! This comprehensive process includes a lot of different steps, such as figuring out the job requirements, giving ongoing training, making sure the pay is competitive and much more. Rating systems used to be the norm, but now many of the best companies choose a more personal method: having meaningful conversations between managers and employees. By using these ways to improve communication, you can help your team grow and reach its full potential. Don't stick with old ways of managing performance. Instead, switch to a more effective, employee-centered method today.  

What is the importance of performance management?

Are you tired of outdated performance management processes that only leave your employees feeling undervalued and unmotivated? It's time for a change. With research showing that 51 large firms have already adopted a no-ratings system and 70% of companies rethinking their approach, it's clear that performance management is due for a major overhaul.

By implementing performance management software, you can not only provide transparency, recognition, and feedback but also improve employee engagement and help your team focus on company goals. The software continuously tracks all activities related to company goals, providing valuable insight into employee performance and contribution to organizational growth.

Plus, with the option to integrate with HR and compensation management software, you'll have everything you need to streamline your processes and create a thriving company culture. Don't settle for a subpar employee performance management solution - make the switch to an innovative performance management software solution today! 

Elevate your performance management game with these top software picks 

Below, you'll find a comprehensive list of the top-rated online software systems for managing and appraising employee performance that is widely utilized across the globe.

#1. Synergita

Looking for an all-in-one employee performance management and engagement solution? Look no further than Synergita! With over 350,000 users from 100+ companies across the globe, Synergita is trusted by organizations in IT/ITES, manufacturing, pharma, financial services/FinTech, retail, and non-profit sectors.

Synergita features:

What sets Synergita apart? Here are just a few features that make it stand out from the crowd:

●AI-powered sentiment analysis: Say goodbye to negative feedback cultures. With Synergita's AI-powered sentiment analysis, you can cultivate a positive feedback culture across your organization.

●Lightweight OKR solution: Launch OKRs instantly to specific functional teams or across your entire organization with Synergita's lightweight, result-focused OKR solution.

●Deep functionality: Synergita offers a range of features to help automate your digital performance transformation, including matrix goals management, continuous check-ins, 360-degree appraisal feedback, 1-1 meetings, and smart promotion management.

●Culture score: Measure adherence to your company culture with Synergita's culture score feature.

●Configurable dashboards and reports: Get insightful people and performance analytics with Synergita's configurable dashboards and reports. 

Synergita best for:

●Synergita delivers exceptional continuous performance management, employee engagement, and OKR solution to establish and grow high-performing teams. 

Synergita Price:

●Their basic package starts at just $5 per user per month 

#2. PerformYard

 PerformYard's performance management software is the ultimate solution for HR teams who seek flexible features and easy-to-use tools for building a successful performance management strategy.

This software offers customizable options for 360s, project-based reviews, rating scales, continuous feedback, and cascading goals to fit your organization's specific needs.

Moreover, PerformYard delivers a streamlined employee experience to help employees focus on quality feedback and effective performance discussions.

With this software, you can expect to have dedicated customer success managers who will guide you from the onboarding process to employee training and provide ongoing support.

PerformYard understands the importance of building a culture of continuous feedback and quality conversations. That's why they provide the necessary tools and features to make it possible for HR teams to manage and monitor employee performance effectively. Choose PerformYard to help your organization achieve success in performance management effortlessly.

Perform features:

Here are the top features that set them apart:

●Tailor your performance management strategy to meet your organization's unique needs with our fully customizable features. You can choose from 360-degree feedback, project-based reviews, continuous feedback, and more to help drive performance across your workforce.

●PerformYard believes that every customer deserves the very best. That's why they provide a dedicated Customer Success Manager to every customer, regardless of the size of their organization. From onboarding to ongoing support, they will be there to guide you every step of the way.

●Achieving your goals has never been easier with their robust goal management system. With features like cascading goals, individual progress tracking, and performance insights, you'll have all the tools you need to drive success at every level of your organization.

●They understand the importance of integration, which is why their software can be seamlessly integrated with most major HRIS/Payroll systems, including ADP, BambooHR, Gusto, Rippling, UKG, Paycom, Workday, and Paylocity. Say goodbye to manual data entry and hello to streamlined processes.

PerformYard best for:

This performance management software is designed to be flexible and accommodate the specific HR needs of each organization while maintaining respect for those needs. 

PerformYard Price:

The pricing for this software solution begins at $5-$10 per month per employee.

#3. Reviewsnap

Reviewsnap's performance management software is the perfect solution for businesses looking for a flexible, powerful, and user-friendly online platform at a cost-effective price point.

With features like performance reviews, 360-degree feedback, note-taking, and reporting all bundled together under a single affordable annual subscription fee, Reviewsnap offers the most comprehensive performance management solution available today.

This software is designed to enhance employee communication, boost morale and productivity, and cultivate a high-performance culture within your organization. 

With Reviewsnap, you can create a collaborative, goal-oriented environment that inspires your team to perform at their best. 

Reviewsnap features:

●Reviewsnap boasts top features that streamline performance management processes and promote employee growth and development, including:

●Electronic signatures, automated reminders, email notifications, and secure archiving for efficient and secure review processes.

●Goal tracking and management functionalities that enable SMART goal setting, progress monitoring, objective definition, and achievement tracking.

●Automated and customizable appraisal forms that fit the needs of any organization.

●Unlimited review cycles to facilitate ongoing performance management and feedback.

Reviewsnap best for: 

Reviewsnap offers an impressive range of performance management features at a budget-friendly price.  

Reviewsnap price:

The Express plan costs $3496 per year, the Standard plan costs $3933 per year, and the Pro plan costs $4807 per year, all for a team of 1-25 employees. You can find more details on their website.  

#4. Leapsome

Leapsome is the ultimate solution for organizations seeking to streamline their performance, engagement, and learning processes. With its highly-customizable modules, Leapsome offers an all-in-one platform that empowers HR teams to create and manage performance review cycles, 360-degree feedback talks, leadership assessments, and many more performance-oriented processes.

Leapsome's superior analytics and advanced features enable HR teams to establish a connection between team performance, engagement levels, compensation, and career progression.

Leapsome offers the perfect tool to enhance employee satisfaction and foster a culture of performance and engagement. With Leapsome, organizations can gain valuable insights into what makes employees thrive, which will result in a more motivated and productive workforce. 

Leapsome features:

●Discover the full potential of this powerful platform with these standout features:

●Elevate employee performance with expert templates, automated cycles, and reminders for performance reviews, 360 feedback, leadership reviews, note-taking, and more.

●Keep your employees engaged with engagement surveys, instant feedback, public praise, and turnover prediction.

●Align your teams with goal & OKR management, and visualize goals at an individual, team, or company level with comments and discussions.

●Build a skilled workforce with learning paths, skill matrices, onboarding, and offboarding. 

Leapsome best for:

Ideal for organizations seeking to bridge the gap between performance, engagement, and learning.  

Leapsome price:

Price: Starting at $8 per user annually.  

#5. Trakstar  

Trakstar's Performance Appraisal software is a must-have for organizations that want to take control of performance reviews, employee engagement, goal management, and real-time feedback. With the option of 360/Multi-rater feedback, this software has everything you need to manage your workforce effectively.

The implementation process is also personalized to meet your organization's specific needs. Plus, Trakstar's feature set and visually appealing interface come at an affordable cost. Don't settle for less when it comes to performance management - trust Trakstar to help your organization thrive.

Trakstar features: 

Here are its top features:

●Generate flexible reports to identify your top performers with ease.

●Take notes and receive automated email notifications with the provided functionality.

●Set and track goals using its features.

●Receive 360 Degree Feedback in real time.

●Conduct frequent check-ins and self-appraisals for optimal performance.

Trakstar best for: 

Trakstar is an intuitive and user-friendly platform that excels in goal management, 360-degree feedback, and performance management. 

Trakstar price: 

Based on our research, the annual cost for Trakstar is $4370.

#6. 15Five  

 15Five is a top-notch employee performance software that takes a proactive approach to enhance employee engagement by prompting insightful questions and capturing critical data.

With 15Five, you can gain access to an array of cutting-edge features and functionalities designed to streamline feedback management and boost employee morale. Plus, all of your valuable reports and data are stored securely within the 15Five system, ensuring that your organization never misses a beat.

15Five features:

Here are the top features of 15Five:

●Plan and conduct 1-on-1 meetings with team members.

●Access to a powerful question bank and feedback questions for weekly check-ins.

●Objectives and Key Results (OKRs) feature to keep teams focused, aligned, and engaged.

●Ability to conduct self, manager, peer, and upward reviews.

15Five best for: 

  Its strongest suit is its communication features.

15Five price:

15Five has three pricing plans: Basic ($7/mo), Plus ($14/mo), and Enterprise. You can contact them for more details. 

#7. ClearCompany 

ClearCompany is a software that specializes in talent acquisition and management. Its suite of tools offers solutions for hiring, onboarding, performance management, and goal alignment, making it an ideal choice for small businesses looking to streamline their HR processes.

ClearCompany features:

 ClearCompany offers a range of features for its talent acquisition and management software. These include:

●The ability to conduct unlimited peer reviews.

●Time-based reviews can be scheduled and tracked.

●Automated reminders to ensure timely completion of reviews.

●Full customization options allow you to create your own scales, questions, and sections.

●The ability to connect performance data to hiring decisions.

●An applicant tracking system with features such as bulk emails, mobile career sites, and social sharing tools.

ClearCompany best for:  

  The system excels as an applicant tracking system.

ClearCompany price: 

According to the information available online, the system's starting price is $70.

#8. BambooHR

BambooHR is a top-rated HR software that caters to the needs of small and medium-sized companies. The system's employee review software is a game-changer for managers looking to track and compare individual performance and engagement through intuitive performance reports.

BambooHR also offers an efficient applicant tracking system and electronic signature software, making it a one-stop shop for all your HR needs. With its user-friendly interface and comprehensive feature set, BambooHR is the perfect solution to streamline HR processes and enhance employee engagement.

BambooHR features: 

●The top features of BambooHR include the following:

●Collaborate with managers to create and monitor goals.

●Generate performance reports for comparing organizational performance across departments.

●Centralized employee database storing various information, including healthcare and home addresses.

●Obtain insightful performance feedback from peers through simple and meaningful questions.

●Receive automated reminders.

BambooHR best for:

Ideal for small businesses, the system is designed with a user-friendly interface.  

BambooHR price:

BambooHR offers Essentials and Advantage pricing plans, with pricing information available by contacting the company. Reviews suggest that pricing starts at $99/month.

#9. Namely

Namely is a comprehensive HR, Payroll, and benefits platform designed to meet the needs of mid-sized businesses in any industry. With its cloud-based solution, it stores employee information in a centralized location, making it easily accessible for HR personnel. Namely also offers a mobile app for iOS and Android devices for convenient access on the go.

Namely features: 

Its top features are as follows:

●Custom Profiles

●Mobile App

●Analytics

●Organizational Charts

●Calendar

●Workflows

●Central storage and management of documents

●Configuring time-off plans

●Setting roles and responsibilities

●Storage for billing reporting and documents

●Automatic benefit deduction syncing to payroll

●Company-wide announcement sharing

Namely best for:

The system is ideal for those looking for robust HR and payroll features that are user-friendly.

Namely price:

The company hasn't disclosed the pricing details; however, according to online reviews, the cost per employee per month is estimated to be between $12 to $30.

#10. Bambee

Bambee offers affordable HR solutions that implement the best practices in the industry. It caters to small businesses looking to optimize their HR policies and staff performance. With Bambee, you are assigned a dedicated HR professional who ensures that your HR policies are up-to-date and your staff performs at their best.

You receive report cards to assess your staff's overall performance, and you can openly communicate with them to give feedback or praise. What sets Bambee apart from other performance management services is its implementation of 2-way feedback, allowing employees to voice their opinions regarding their work environment. 

With Bambee, you can create a positive work culture and achieve your business goals at an affordable price.

Bambee features:  

The top features of Bambee include the following:

●Employee Relationship Management

●Employee Coaching and Training

●HR Problem Solving

●Compliant Onboarding and Termination

●2-Way feedback system

●Performance report cards

Bambee best for: 

Suitable for businesses that prioritize employee feedback and performance evaluation 

Namely price:

The starting price of the system is $99 per month. 

#11. HRSoft

HRsoft offers a straightforward and effective project management solution that can take your team's productivity to the next level. Their cloud-based system provides an intuitive interface that enables managers to foster stronger relationships with team members. This, in turn, promotes higher engagement levels and empowers the team to achieve their goals efficiently.

HRSoft features:

The top features of HRsoft include:

●Organizational goal-setting features.

●Simplification of processes with features like 360 feedback, review automation, automated workflows, and focused templates.

Manager-specific features such as goal approval controls, performance ratings, development plans, and real-time reporting and alerts.

HRSoft best for:

Ideal for those looking for effective solutions for managing employee performance and compensation.

HRSoft price :

The company has not disclosed its pricing information. To learn more about the product's cost, you need to get in touch with the company. 

#12. UltiPro  

 UltiPro is an excellent choice for companies of any size seeking to streamline their human capital management. This comprehensive, cloud-based solution provides a range of powerful features and tools to support HR, payroll, and talent management.

With UltiPro, you'll have access to advanced capabilities like time management, performance management, succession management, a predictive analytics tool, compensation management, and much more. Whether you're a small business looking to improve efficiency or a larger organization in need of more robust HR capabilities, UltiPro has you covered.

UltiPro features

You get the following features with UltiPro:

●Time tracking feature

●Recruiting processes support

●Employee surveys and sentiment analysis

●Continuous performance management process for talent management

●Employee career development support

●Payroll administration functionality

●Tax management functionality

●Compliance functionality

UltiPro best for:

The system is ideal for businesses looking for efficient Payroll management features.

UltiPro price:

The company follows a subscription-based pricing model, and unfortunately, the pricing information is not available on the website. However, you can easily get in touch with the company to learn more about its pricing policy.

#13. Oracle HCM  

Oracle HCM is a comprehensive cloud-based solution that offers a wide range of HR, Talent Management, and Workforce Management services for medium to large businesses. Its Talent Management feature is specifically designed to cater to your recruiting, performance management, talent profile, and learning needs. With its advanced tools and features, you can streamline your HR processes and optimize your workforce performance, ensuring your business stays ahead of the competition.

Oracle HCM features 

Here are the features of Oracle HCM:

●Set and share meaningful goals.

●Real-time progress tracking.

●Creation of training programs.

●Easy access to candidate profiles and talent pool.

●Global HR product for employee information management.

●Accurate time capturing for all employee types.

Oracle HCM Best for:

  The product is ideal for those who prefer a user-friendly and intuitive interface.

Oracle HCM price:

Prices are as follows: Talent Management - $8/user/month, Talent Acquisition - $5/employee/user, Global HR - $13/user/month. 

#14. SAP SuccessFactors  

SAP SuccessFactors offers cloud-based solutions for HR, Payroll, and analytics, providing recruitment, learning & development, performance management, and compensation features suitable for businesses of all sizes.

SAP SuccessFactors features

Features of SAP SuccessFactors include:

●Goal Library with 500+ predefined goals.

●Mobile Goal Management for easy updating and commenting.

●Continuous performance management through employee-manager dialogue.

●Writing Assistant and Coaching Advisor for effective feedback.

SAP SuccessFactors Best for:

The cost of SAP SuccessFactors Performance and Goals is $4.17 per user per month.  

SAP SuccessFactors price:

SAP SuccessFactors is best suited for HR management.  

#15. IBM Talent Management  

 IBM Talent Management offers a comprehensive set of HR solutions, including Talent Management, Talent Acquisition, and Assessment tests. Its Talent Acquisition suite includes various solutions such as IBM Kenexa Talent Acquisition Suite, IBM Kenexa Employee Assessments, IBM Watson Candidate Assistant, and IBM Watson Recruitment.

The assessment tests provided by IBM include Individual Assessments, Enterprise Assessments, and Cybersecurity Assessments. IBM Talent Management is an ideal solution for businesses of all sizes.

IBM Talent Management features

The top features of IBM Talent Management are:

●AI-powered Talent Acquisition

●Behavioral and skills assessment tests

●Enterprise assessments

●Watson AI provides data-driven insights to help find the best-fit candidate for the organization

IBM Talent Management best for:

IBM Talent Management is suitable for businesses of all sizes, offering a range of solutions to help train and develop talent. 

IBM Talent Management price:

IBM Cloud Application Performance Management starts at $26.60/month, while IBM Kenexa Employee Assessments starts at $319.20/10 scores. 

#16. OnPay

OnPay is a robust payroll and HR platform that's a versatile solution for startups and enterprises. Its user-friendly dashboard makes it easy for businesses to get the most out of OnPay. The best part about OnPay is that it makes the labor-intensive part of setting up a payroll application incredibly simple, even if your company has unique payroll needs.

OnPay can also serve as your insurance broker and tax accountant, allowing you to effortlessly input and deduct insurance premiums, garnishments, tax withholdings, and much more.

OnPay can even handle complicated onboarding procedures, from administering documents to setting up direct deposit. Plus, ONPay will take care of new hire reporting in your state.

OnPay feature

Why go with OnPay instead of any other system?:

• Offers HR teams, businesses, and individuals to navigate payroll, HR, and benefits seamlessly using one easy-to-use dashboard that provides all the information they need.
• Pay your team in record time, on your phone or on the desktop. Thanks to its custom payroll reports, you can feel safe knowing that payroll will be done right the first time.
• Promises a better HR software without any extra cost. Its platform makes onboarding, PTO and vacation management, and maintaining compliance easy, boosting productivity.
• Navigate employee benefits with confidence. Since everything is in sync with your payroll, you can automatically deduct health insurance and 401 (k) premiums.
• Integrates with popular accounting, time tracking, retirement, and HR & compliance software to make your life easier, like QuickBooks, Xero, and When I Work.

OnPay is best for:

Organizations in every industry that need to combine their payroll, HR, and benefits tasks and compliance protocols into one system. Anyone who needs a full view of their HR department.

OnPay price:

Price: First month is free, then it starts at $40/mo + $6/mo/user

Frequently asked questions about HR performance management software

What is a performance management system in HR? Enter heading here...

To ensure that the organization's strategic goals are met, managers and employees engage in a process called performance management, which entails constant feedback and open lines of communication.

Since its inception, the concept of "performance management" has undergone several iterations of definition. Management of employee performance is shifting from an annual to a continuous process. The purpose of these meetings is to check in on employees' progress throughout the year and deal with any problems that might get in the way of their productivity.

What is performance management software?

A performance management system monitors employees in a uniform and quantifiable fashion.

The system uses a variety of technological and methodological approaches to guarantee that all employees are committed to and helping to achieve the company's long-term goals.

Managers and employees participate in the system's collaborative nature by working together to establish expectations, determine goals, define performance measurement, and distribute and discuss performance reviews and appraisals.

What are the different types of performance management systems in HR?

Personnel performance management systems, also known as human resource (HR) performance management, are a method for assessing an organization's human resources and ensuring that their efforts are in line with the business's overall goals.

Employee performance can be managed in two ways: through human resources (HR) reviews, or through Objectives and Key Results (OKR).

What are the 5 stages of performance management?

 Are you ready to boost your team's performance to the next level? Look no further than the five stages of performance management!

●First, we have the Planning stage, where we set clear goals and expectations for our employees. We define success criteria and create a plan to achieve those goals.

●Then comes Monitoring, where we observe our employees' progress toward the established goals. Regular check-ins and feedback keep everyone on track.

●Next up is Developing, where we identify areas for improvement and create a plan to address them. Training, coaching, and support are key to helping employees reach their potential.

●The Rating stage allows us to evaluate employee performance against established goals. Through formal reviews or feedback sessions, we can provide valuable insights and identify areas for further growth.

●Finally, we have the Rewarding stage, where we recognize and celebrate employee achievements. Bonuses, promotions, and other forms of recognition show employees that their hard work is valued and appreciated.

Don't let your team's performance fall flat. Use the five stages of performance management to take your team to the top!

What are the 5 good qualities of performance management?

Here are five key qualities to keep in mind to take your performance management to the next level:

First, set Clear Goals and Expectations. Establish achievable goals and communicate expectations to your employees to give them a clear path to success.

●Next, don't forget Regular Feedback. Keep your employees informed about their performance, what they need to improve on, and what they are doing well. This will help them stay on track and motivated.

●Thirdly, make sure to conduct Fair and Objective Evaluations. Use established criteria to evaluate all employees consistently and ensure that the process is seen as credible.

●Collaboration and Support are also crucial. Encourage managers to provide support, resources, and training to help employees improve their performance. Employees should also be encouraged to provide feedback and share their ideas for improvement.

●Finally, Continuous Improvement is key. Regularly review your performance management system to ensure it remains effective and aligned with your organization's goals and objectives.

With these qualities in mind, you'll be well on your way to achieving outstanding performance and success!

What are the 3 best practices of performance management?

Are you looking for ways to improve your organization's performance management? Look no further than these three best practices:

●First, goal setting and alignment are key. By setting clear goals for employees and aligning them with the overall goals of the organization, everyone will be working towards the same objectives. This will help employees understand how their work contributes to the success of the organization and keep them motivated.

●Secondly, ongoing feedback and coaching are critical to improving employee performance. By providing timely feedback and coaching, managers can help employees understand their strengths and weaknesses and identify areas for improvement. This will help employees stay on track and continuously improve.

●Lastly, data-driven evaluation is essential. By using data to evaluate employee performance, organizations can ensure that evaluations are fair, objective, and based on measurable results. This will help ensure that employees are evaluated on their actual performance rather than their subjective opinions.

By implementing these best practices, organizations can create a culture of continuous improvement and achieve better outcomes through their performance management efforts. Don't wait any longer to improve your organization's performance management - start implementing these best practices today!

What is a performance management platform?

A performance management platform is a powerful software tool that can help you streamline your performance management efforts and achieve better results. With features like goal setting, ongoing feedback and coaching, performance evaluations, and data analysis, these platforms provide a comprehensive solution for managing employee performance.

With a performance management platform, you can set and track goals for your employees, provide them with regular feedback and coaching, and conduct performance evaluations to identify areas for improvement. You can also gather and analyze performance data to gain insights into your team's strengths and weaknesses and make data-driven decisions to optimize your performance management processes.

Overall, a performance management platform can help you create a culture of continuous improvement and achieve better outcomes through your performance management efforts. Whether you're a small business or a large enterprise, these platforms can provide you with the tools and resources you need to succeed. So why not give it a try and see how a performance management platform can help your organization thrive?

What is the performance management process?

The performance management process is a set of activities and steps that organizations implement to manage and enhance their employees' performance.

This process usually includes several steps, such as defining clear objectives, providing continuous feedback and coaching, evaluating performance, and utilizing data to enhance performance.

To begin the performance management process, organizations first need to establish clear goals and expectations for each employee.

This means identifying key performance indicators (KPIs) and developing an action plan to achieve those goals. By setting clear objectives, employees can understand their responsibilities, the expected outcomes, and the metrics by which their performance will be evaluated.

What are performance reviews in hr performance management?

Performance reviews are a crucial part of HR performance management, aimed at evaluating and enhancing employee performance.

They involve a formal assessment process in which managers evaluate their employees' job performance and provide feedback on their strengths and areas where they can improve.

The main objective of performance reviews is to ensure that employees are meeting their job requirements, contributing to the organization's goals, and having the necessary skills and resources to perform their tasks effectively.

Typically, the performance review process begins by setting specific goals and objectives for the employees to work towards.

Throughout the year, the employees receive ongoing feedback and coaching from their managers to help them achieve their objectives. At the end of the performance period, a formal review is conducted where the manager and employee discuss the employee's performance and progress toward their goals.

They identify areas for improvement and create a plan for the upcoming performance period, including training or coaching to help the employee enhance their performance.

Wrapping up 

HR performance management software is a must-have tool for organizations that are serious about optimizing employee performance and boosting productivity. 

By providing you with the right tools, it can help streamline the performance review process, identify top performers, and address any underperformance issues. But that's not all. 

The right software can also help you establish a more personalized approach to performance management, facilitating meaningful conversations between managers and employees, leading to improved communication and a more engaged workforce.

With our top 15 picks for HR performance management software in 2023, you can rest assured that you'll find the best tools to drive success in your organization. 

These cutting-edge platforms offer innovative features and functionalities that help you better manage your workforce and get the most out of your employees. 

So, why stick with outdated performance management methods when you can upgrade to a more effective and employee-centered approach with our top 15 picks? Start your journey towards a more productive and engaged workforce today.