Every organization needs its employee’s extraneous efforts to become an elite one. We have witnessed many small businesses and start-ups reaching unlimited heights through intelligent business strategies and enthusiastic employee performances. However, dividing the responsibility between the employees and project managers is crucial to maintaining a seamless workflow.
Also, evaluating employee performances and comparing them with the organization’s goal is the ideal way forward. Performance Management Softwares are well-equipped to do just that. HR departments, manager-level staff, etc., use Performance Management Software to analyse performance, assign goals, keep discussion records, and many other tasks. Here we will learn about the 5 best Performance Management Software presently.
Also Read: 5 Best Payroll Software for Small Business
What is Performance Management Software?
Organizations use Performance management software to set a common goal for a business objective. In addition, it connects employees to this software and tracks employee performance.
Features of Performance Management Software
Here are some of the most common features of Performance Management Software-
Performance tracking: A transparent way of visualizing the employees’ performance over a certain period or in a particular project.
Reviews and feedback: Reviews such as mid-year, annual performance, self-evaluation, and 360-degree feedback form are supplied with the software, an easy solution for delivering the before-mentioned review and feedback to the employee and managers.
Goal management: SMART or Specific, Measurable, Achievable, Relevant, Time-bound goals are set using the software. Moreover, it allows managers to modify, create, delete, and track goals.
API integration: Integration of Application Programming Interfaces or APIs is crucial as project data is shared with multiple nations and languages.
Reporting: Let’s users generate and share reports of goals.
Dashboards: Dashboard is an easy and convenient way of getting all the necessary tools at the right place. Users can have real-time data and performance monitoring in one place for better decision-making.
Best Performance Management System
1. Paylocity
Paylocity is an all-in-one software solution for HR professionals. It is an excellent tool for talent, workforce, benefit, and payroll management. It provides support and treats businesses as partners, thereby providing easy solutions for daily tasks. Users can assign tasks to employees, create surveys, educate users, track expenses, check workforce ratings, etc.
A simple and easy-to-navigate dashboard will help you to use the available options. Users can customize the dashboard as they deem fit. It supports several languages. So, users can easily transact and share business with multiple languages and currencies.
Pros
- Excellent customer care
- Saves valuable time
- An easy-to-handle interface
Cons
- Minor compatibility issues
Try Paylocity
2. Lattice
Lattice is one of the best Performance Management Software around. It is trusted by more than 4000 customers worldwide, including tech giants Asana, Slack, Guild Education, Solera Health, and the Los Angeles Dodgers.
Lattice provides all the necessary tools, Data, and workflow business leaders or managers need to streamline development.
So, a business will benefit from analyzing the insights and creating a developing work culture.
HRs and the People management team will have all the data, i.e., goal-setting, compensation management, people analytics, continuous performance, employee management, and career development, consolidated into one palace.
Pros
- Excellent for progress tracking
- Easy for collaborating and scheduling
- Good for organizing
Cons
- Heavy tool
Try Lattice
3. Bamboo HR
HRs play a pivotal role in a business’s growth by evaluating employee performance and comparing it to the company’s growth. Bamboo HR is an intuitive Software-as-a-Service (SaaS) product that helps HR do that effortlessly. This cloud-based Human Resource Information System (HRIS) platform provides HRs with essential tools to manage and track employees.
Small and medium businesses have more flexibility in overseeing development using Bamboo HR as it allows managers to get data, reports, and insights. This HR software also has a mobile app to offer. Bamboo HR has a global client base of 150+ customers, including Squarespace, Fitbit, Klout, FreshBooks, and Fab.
Pros
- Uncomplicated navigation
- Simple UI saves time
- Good for tracking growth
Cons
- Customer service is not the best
Try Bamboo HR
4. ADP Workforce Now
Adaptability is key to success in any business environment. But what if you get your Performance Management Software to be adaptive to your work? Right. ADP Workforce Now is the only cloud-based HR platform that adapts to your working process and necessary tools.
ADP Workforce Now has Human Resource Management, Talent Management, Time & Labor Management, Payroll, Benefits, Learning & Analytics, and Return to Office competence. Therefore, users can easily manage the business by creating growth goals and analyzing performances. Moreover, it lets you control the workforce by data-driven conclusions using estimated data. It works on a single database and has worked wonders for multiple small and medium businesses.
Pros
- Free to use
- Easy to navigate menus
- User-friendly and fast
Cons
- Not the most straightforward user interface available
Try ADP Workforce
5. 15Five
15Five is a unique performance-based software that combines education, community, and software. Users can perform almost any task with this human-centric Performance Management Software.
Employees can get the best of themselves through 1-on-1 interaction, OKRs, surveys, and performance reviews. It is an all-in-one tool for growing successful managers and unlocking employee peak performance.
Moreover, 15Five has been developed by keeping modern psychology research in mind. The Positive Product Design method is key to learning employee behavior and prescribing practices to boost his performance.
Pros
- Collaborate with colleagues
- Easy survey creation
- Top-notch tracking service
Cons
- Issues with customer service
Try 15Five
Read: 7 Best Accounting Software You Can Use
There you have it-a complete guide to the best Performance Management Software available. Performance Management Software is laced with critical features that help in collective growth. Have you tried any of them yet? Let us know below.
