Best HR Performance Management Software 2024: Reviews and Pricing
Looking for the best performance management software? Keep reading for a detailed review of the best HR performance management software.
A performance management system is a tool that helps companies better understand and manage their performance. It is used for many different purposes, including but not limited to measuring the effectiveness of employee training programs, ensuring compliance with government regulations, monitoring customer satisfaction levels, and more.
In this article, we will review some of the best performance management software available in 2024 and provide pricing information to help you make an informed decision about which product is right for your company’s growth.
What is Employee Performance Management Software?
Performance management software secure tracking daily progress on key operational metrics such as employee engagement (both internally and externally), customer service ratings, turnover rates, safety records, etc. The product then uses artificial intelligence algorithms to compare data and evaluate individual performances.
The performance management tools assess employee performance, team dynamics, and organizational success.
Reviews offer constructive criticism that helps discover weaknesses or strengths and determine whether it will meet your needs.
In today’s competitive world, employee performance matters in a company’s success. Therefore, read the reviews and make your own decisions.
13 Best Performance Management Tools
Here’s a list of the best performance management software:
1. SAP SuccessFactors
SAP SuccessFactors is a popular performance management solution for streamlining performance management. This tool offers many features to facilitate HR functions and evaluate employees, giving an organization something to look forward to.
The user interface might seem overwhelming at first glance, with too much data available in one place. However, after training employees on how the system works, most users enjoy using this software because of its customizable options and ability to save documents without requiring extra steps.
Some people have expressed their concerns that their company’s unique requirements are not met through SAP Success factors alone, meaning they had to invest in other software outside the package.
Regardless, it is our go-to performance management tool and employee assessment unit connecting business requirements.
Features
- 360-degree feedback
- Individualized reports
- Pre-configured questions, workflows, and report format
- Rich feedback and visualizations
Pricing
Starting at $8 per user a month to $85 per employee per year, it’s well-organized and has all the features any midsized or larger business needs. For more info, please visit their webpage here.
2. 15five
A company with a vision to restore performance management as the driving factor.
15five is one of the innovative and top-rated performance management systems for small businesses. It offers a variety of features.
The money goes towards a service that offers multiple functionalities, such as surveys, live chat support, and a performance review module. It gives new meaning to employee performance in the digital age.
Features
- Option of having 1-on-1 meetings with employees
- Quick surveys and questionnaires for the performance review process
- Ability to benchmark against peers in your industry
Pricing
There are three pricing plans available: the Basic Plan ($7 per person per month), the Plus Plan ($14 per person per month), and the Enterprise plan.
For more information on the enterprise-level service, contact 15Five today.
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3. Engagedly Inc. Performance Appraisal Software
Engagedly Inc. offers an excellent service for effective performance management; however, it is the right option if you want your employees to have one-on-one meetings with their managers every month.
Continuous performance management encourages healthy dialogue between employees and managers. It is a comprehensive solution for aligning people practices with organizational strategy.
Engagedly’s features and functionality are designed for today’s workforce, which includes an easy-to-use, modular platform that enables organizations to execute goal management, performance appraisals, and 360 reviews while enhancing people development through LMS + mentoring + coaching or social praise.
The features include quick survey questionnaires, which allow workers to answer questions in short periods to gauge their engagement levels on different aspects of company culture, such as socializing outside work hours or whether they feel they have autonomy in decisions made at work.
Features
- Multiply retention and expansion activities with talent mobility
- Enhance accountability
- Improve communication
- Easy to use
- Cost-effective
- Allows employees to answer questions about their work environment monthly to measure performance and further employee satisfaction
Pricing
Performance Management is a bargain at $5 per user. With this performance appraisal tool, you can eliminate employee performance management from your to-do list.
Request a demo by visiting Engagedly today.
4. BambooHR
A name that’s buzzing around the web, BambooHR has been a popular choice for many HR teams looking to improve their performance management.
The BambooHR Peer Review Process provides insightful feedback on workers never before seen by managers, without any bias or lack of understanding when reporting to their superiors.
It is an all-in-one performance review software that includes a talent management system and employee engagement module. This tool is one of the standouts on our list and speaks volumes in favor of employee performance.
Features
- Enables managers to create detailed coaching plans for individual employees
- It saves a lot of time when creating reports and analyzing data. You can leverage productivity by using these extra hours to improve employee engagement, like one-on-one meetings with your team members
- The dashboard offers insights, such as engagement scores by week or month, which helps you evaluate better
- Possesses an applicant tracking system that allows for e-signatures
Pricing
BambooHR is a software company that offers two pricing options: Essentials and Advantage. Both plans start at $99 monthly, but you can contact the company for an exact quote.
Please visit BambooHR for more details.
5. OrangeHRM
OrangeHRM, which stands for “People HR Management,” is a company that offers a performance management tool among other utilities. Their website mentions features like employee evaluations and analysis in various ways and provides an applicant tracking system with e-signatures.
Regarding performance management tools, OrangeHRM is up there with the best ones on the market.
Features
- Peer-to-peer feedback
- Performance reviews and performance appraisals make easy
- Suited best for small to mid-sized businesses
- Days of long, tedious workflows are over with OrangeHRM
- Succession planning (it is when a key employee suddenly leaves) support
- Contacting human resources professionals reveals that they all recommend departmental goal-setting for annual objectives because this allows employees to apply themselves.
Pricing
OrangeHRM starts at $6/user, but you can try it for free for 30 days. Visit their website to learn more.
6. PeopleFluent
PeopleFluent is one of the performance management tools that’s been around for a while.
It is a data-driven, cloud-based company that helps companies recruit and retain their best talent. It offers an integrated set of products, including robust competency management and proactive career development, to help clients find the right people for the job at any stage.
Their system serves large organizations looking for ways to automate performance management processes while helping them scale.
Features
- Integrates with the talent management system
- Provides automated workflows which will save time on tedious tasks like scheduling meetings to update employee records
- It generates reports of employee progress toward goals
- Continuous feedback helps you improve productivity by aligning employees with the organizational goals
- Succession planning and learning solutions to provide a user-friendly performance management platform
- It also has robust goal-setting features such as public or private goals, lockable/unlockable, and modifiable, so it’s perfect if your business needs are changing
- Known for its applicant tracking system
Pricing
Pricing and plans are not listed on their site. You would have to contact them for more info. Please visit PeopleFluent today.
7. ADP
ADP is another top performer in the HR software industry. It has been around for decades and is a well-known company that offers HR teams the support they need. Its services include online payroll, human resources management solutions, benefits administration, and talent acquisition systems.
They aim to help companies succeed by providing the resources they need to care for their employees. Customers say you get what you pay with ADP, but it is a little expensive if your needs are not too extensive.
You will have live chat and phone support available 24/hrs a day and customer service reps who are very knowledgeable about the performance management process.
Features
- Performance reviews
- Real-time feedback
- Social interaction platforms for instant support
- Goal management
Pricing
Start your workforce planning and management for $10 per user per month. Contact ADP for the free trial.
8. ClearCompany
ClearCompany is an accurate performance management system. It helps you manage your company’s employees, including customer service reps and executives, in one place.
The clear advantage of ClearCompany is that the system works well as an applicant tracking system. Small and large businesses may utilize and set performance management features from day 1.
It seems like an excellent option for adopting modern human resource techniques. Now, achieving better goal alignment, increasing employee engagement, and gaining tangible insights into your workforce is easier than you think.
Features
- Empower workers with peer and 360 reviews; they are the most reliable ways to get unbiased feedback on your business. The more people see these ratings, the better
- There’s not a single component of your business that you can’t track through Seamless Cycle Management & Completion Tracking, from payroll to customer service. You’ll never miss an important detail again with this powerful software suite
- User-friendly interface along with intuitiveness built into its algorithm
- Customizable
- Employee engagement surveys
- Mobile performance reviews are available. They are a great way to ensure that your business is performing well, and they can happen anywhere
Since a mobile app can access information on the go, you’ll never have any excuse for being unable to give feedback about someone’s work ethic or punctuality – even if there were no witnesses.
Pricing
According to the information available on the internet, the price for the system starts at $70. However, please visit their website, ClearCompany, for more insights.
9. Ascender
Ascender is a cloud-based software for performance management. It includes all the features you’ll need to assess your employees and team members and track their progress.
You can access it from any device with internet access—at home or abroad—making it easy to keep up with a project even when you’re not at the office.
The system gives supervisors and managers a bird’ s-eye view of their team. They can track performance on an individual level or compare two employees side-by-side.
It also includes features for analyzing compensation levels based on job responsibilities and benchmarking them against industry standards.
It’s time to take your work. Setting goals is now easier than ever, making it much simpler for the employee review process and giving HR a full report of all outcomes.
Features
- Allows you to set goals and track progress
- Keeps a log of all employee reviews, with details about what was discussed in the meeting
- All performance is tracked over time, making it easy for HR to see an overall picture of how employees are performing at work
- Strategic outcomes are measured and compared to industry standards so you can ensure that employees are being compensated
- Compensation is based on job responsibilities for fairness
Rating
Ascender has been rated one of the best in the industry for its features.
Pricing
PeopleSteme, and now Ascender, share pricing upon request. It also offers a free trial. Visit Ascender to get started today.
10. IBM Talent Management Software
IBM created IBM Talent Management Software to help businesses track the progress of their people. It features an AI-powered navigation system that offers suggestions for the best development plans based on individual objectives, which you can customize according to company needs.
One of its key attributes is providing data insights into hiring trends so business owners know when they need more people in a specific area or skill set.
IBM’s Talent Management Division provides HR Solutions, various assessments, recruiting, and development tools.
The IBM Kenexa Talent Acquisition Suite for talent acquisition was designed to help you identify your most promising candidates by understanding their backgrounds, skillsets, and ambitions in one convenient package.
There are also solutions for employee performance assessment, such as the IBM Watson Candidate Assistant, which can predict how well an individual will integrate with specific job roles or companies based on personality profile information provided about themselves—all without meeting them face-to-face.
Rating
The software has been rated one of the best performance management systems available for businesses in 2021.
Features
- Ease of Implementation
- Up-to-date performance data for employees
- Unique assessment tools such as the IBM Watson
Pricing
IBM Cloud Application Performance Management is a must-have for any company with an IT department.
Starting at $26.60 per month seems like a reasonable investment considering all the benefits, including increased speed and efficiency of your most critical applications by up to 200%.
11. Betterworks
It is a thriving choice for small to mid-sized companies and works best for large enterprises. The platform is easy to use, and the pricing structure varies based on the number of employees.
The package includes several features employees will appreciate, including gamification and digital coaching. It makes their lives easier.
Betterworks is an excellent choice if you’re looking for reliable software to manage your company.
It also has the flexibility needed by every modern business, with modules that can be purchased and combined in any way.
We chose Betterworks as one of the best tools to drive employee productivity in 2024 because it has many features and only a few drawbacks.
Features
- Ease of Implementation: Easy
- Goal alignment conversations are available to reassure employees that their work is making a valuable contribution to the company
- Templates available to HR for every kind of conversation
- Up-to-date performance data for employees: Yes
- The real-time feedback and social recognition option for workers to stay motivated
- Quantitative performance conversations integrate into your Human Resources Information System (HRIS), which is the foundation of any good organization’s recruitment and retention strategies
Pricing
Betterworks is an excellent tool for measuring an employee’s performance and productivity. For just $8 per month, you can monitor your employees’ performance metrics from anywhere with an internet connection. Please visit their site here.
12. Cornerstone OnDemand
Cornerstone’s performance management system helps you manage the workforce by generating reports that provide insights and analytics for your organization’s diverse needs.
With this software, you can unlock the true potential of your workforce.
It is a convenient solution for HR, talent, and workforce management, with most of the features you need at a fraction of the cost of competitive products.
They aim to reduce costs, increase productivity, and improve organizational results. Cornerstone offers many products suitable for small businesses and large enterprises.
Features
- Actionable insights
- Customizable dashboard
- Mobile Apps and Integrations
- Cloud Computing Solutions
- Low-performance management software cost
- User-friendly interface
Pricing
After taking the free trial, you can ask for a software setup. However, a fixed price has not yet been mentioned on their site.
It’s better to contact them by filling out this form.
13. iCIMS: Performance Reviews Made Easy
iCIMS talent cloud is next on our performance management and career advancement tools list. This performance management software automates employee efforts and timely reports to the executives of their statuses.
It is an established company with a wealth of experience in the HR field. Since 2000, it has helped many companies and organizations grow by providing the best performance management software.
Their performance appraisal process has evolved from being focused on recruitment and staffing to covering talent management tools for performance reviews, career development opportunities, etc.
Talk about HR transformation.
iCIMS has many innovative features, including tools for remote and mobile employees.
Rating
What makes iCIMS stand out is its strong focus on performance reviews. Gartner rated it as one of the best solutions in this category, with 4.3 out of 5 ratings.
The software also provides career development opportunities that you can customize to the company’s needs.
Features
- Personalized review process
- Career development opportunities
- Remote and mobile employee support
- Integrated with many HR systems
- The days of spending hours on the phone with an agent to find a new talent are gone. You can use your existing staff instead and save time and money.
iCIMS is one of the most popular HR tools for performance management in the market, and it has customers across many countries. Notable clients include Hard Rock, CVS Pharmacy, Uber, and more.
Pricing
Of course, pricing varies by company and number of employees. Please visit iCIMS today to get started with your performance review process.
Conclusion
Performance management software is an HR solution that helps businesses with employee performance evaluations, goal-setting, and development.
Reviews are essential when deciding which performance management software to invest in because people have different needs, and there’s no one-size-fits-all approach.
We recommend these 13 options based on our research and customer reviews collected from the web.
FAQs
Here’s a list of performance management FAQs:
What is Performance Management?
Performance management is a business process of identifying, applying, and managing employees’ performance. It helps ensure managers and staff have clear goals and are held accountable throughout the year.
What is the Benefit of Using Computer Software for Performance Management?
The best computer software for performance management is automated, accurate, and customizable. It can be accessed from anywhere with an internet connection or on a network, so managers don’t have to work offline.
What are Some Unique Features of a Good Performance Management Tool?
Some of the popular features include:
- Unlimited data storage
- Automated reminders
- Time tracking and scheduling
- Direct messaging to employees from managers
And more. Many features make it easy for employers who want a customized experience, like the ability to create custom report types or manage several organizations with a single account. The best performance management system is designed for flexibility to match new requirements.
What could People Say About Performance Management Software in General?
People who use a performance management system could say the design is intuitive and easy to navigate.
They could enjoy how customizable it is, so it suits their organization’s specific needs, such as using employee data from HRIS with other third-party tools like payroll systems or launching new career sites.
Some even suggest investing time into training employees on how to best utilize the features available within Performance Manager before checking out the system.
Some don’t like how many pieces of software must be used to create a cohesive performance management process.
Why do I Need Software for Performance Management?
Software can help you identify your company’s best employees and teams. It is at this point that all the investment you make in an employee becomes worth it. Not just that, it frees your HR team from manual hours that otherwise are spent on doing the work themselves.
A performance management system can help an organization’s performance process, recruit and develop talent, build a team, and drive business outcomes. It also helps improve its culture by anonymously collecting employee data so you know their stance at any given moment.
You will know where the workforce stands when the data is compiled and performance reports are generated.
The software uses predictive analytics and data science to assess your employees and help you meet organizational objectives.
If you are new to Human Resources and are looking to break into an HR role, we recommend taking our HR Certification Courses, where you will learn how to build your skillset in human resources, build your human resources network, craft a great HR resume, and create a successful job search strategy.
