10 Best Employee Performance Management Software Systems in 2023

Comparison and Review of the Top Online Employee Appraisal and Performance Management Software Systems in 2023:

Performance management is a complete process of defining a job as per the requirement until that job is left by an employee.

Performance management is about developing clear job descriptions, recruiting skilled personnel, selecting employees, training the new employees, compensation, and many more factors apart from these. 

Previously there was a rating system in all the companies, and the companies used to give one to five ratings to their employees.

But later this system was removed by many large companies and they were emphasizing have a conversation between the managers and employees.

Overview of Performance Management:

According to the research performed by Harvard Business Review, 51 large firms started the no-ratings system in the year 2015. As a result, the same research mentioned that according to the Research Firm Bersin by Deloitte, 70% of the companies were re-thinking their performance management strategy in 2015.

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The performance management process eliminates the traditional process of performance appraisals, employee reviews, and evaluations. However, Performance management software will give you transparency and recognition along with the feedback and thereby help in improving the employee’s engagement.

As a result of which the software people can focus on company goals, evaluate performance, and measure the organization’s results. It continuously traces all the activities which are related to company goals. It is for employees, managers, and leaders.

The software will tell the employees about their performance and contribution to the company’s growth. Performance Review Software can either be implemented as a standalone system or be integrated with the HR management suite or Compensation management software.

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Our TOP Recommendations:

Top Performance Management Software Reviews

Given below is a list of the best online Employee Performance appraisal and management software systems that are commonly used worldwide.

Comparison of Best Performance Appraisal and Management Software

Let’s Explore!!

#1) Trakstar

Price: As per the reviews, Trakstar will cost you $4370 per year.

Trakstar’s Performance Appraisal software helps your organization manage performance reviews, increase employee engagement, streamline goal management, and create an environment of real-time feedback.

360/Multi-rater feedback is also an option. After purchasing, your software implementation is customized to your needs. Trakstar’s feature set and visually appealing interface are available at a reasonable cost.

Features:

• It can provide flexible reports to help you identify top performers.
• It provides the functionality of note-taking and automated email notifications.
• It has features of Goal setting and Goal tracking.
• It will give you real-time 360 Degree Feedback.
• It will help you with frequent check-ins and self-appraisals.

Best For: Trakstar is easy to use and provides good functionalities like goal management, 360-degree feedback, and performance management.

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#2) Leapsome

Best for closing the loop between performance, engagement, and learning.
Price: starting from $8/user/year.

Leapsome is an all-in-one performance management platform that closes the loop between performance, engagement, and learning. Thanks to its highly-customizable modules, Leapsome is the perfect tool to design and scale performance review cycles, 360-degree feedback talks, leadership assessments, and many more performance-oriented processes within the organization.

The platform’s superior analytics and additional features help HR teams connect the dots between team performance, engagement levels, compensation, and career progression. Leapsome is the perfect tool to understand what makes employees thrive and fosters a culture of performance and engagement.

Features:

• Perform: Performance reviews, 360 feedback, leadership reviews, automated cycles and reminders, expert templates, and note-taking.
• Engage: Engagement surveys, instant feedback, public praise, turnover prediction.
• Align: Goal & OKR management, easy setup and visualization of goals at the individual, team, or company level, comments & discussion.
• Learn: Learning paths, skill matrix, onboarding, offboarding.

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#3) Reviewsnap

Price: It offers the solution with three pricing plans, Express ($3496per year), Standard ($3933 per year), and Pro ($4807 per year). All these prices are for 1-25 employees. You can check the pricing as per your team size.

Reviewsnap’s acclaimed performance management software offers the most flexible, robust, user-friendly, and cost-effective online solution on the market today. It includes performance reviews, 360-degree feedback, note-taking, and reporting bundled under one affordable annual subscription fee.

Reviewsnap to be an ideal framework for enhancing employee communication, morale, and productivity and for developing a culture focused on high performance.

Features:

• Reviewsnap has features of e-signatures, automatic reminders, email notifications, and secure archiving.
• It provides functionalities to track and manage goals that include SMART goals, monitoring employee’s progress, defining objectives, and tracking achievements.
• It has automated and customizable appraisal forms.
• You can do unlimited review cycles.

Best For: Reviewsnap provides nice features of performance management at an affordable price.

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#4) PerformYard

Price: Starts from $5-$10 per employee per month.

PerformYard’s performance management software provides flexible features for HR and a simple employee experience. HR teams will get the tools they need to build out any performance management strategy while employees get streamlined experience to focus on quality feedback and effective performance discussions.

With PerformYard, you can customize their software to fit the strategy that’s right for your organization: 360s, project-based reviews, rating scales, continuous feedback, and/or cascading goals.

PerformYard provides a simple employee experience that facilitates feedback and quality conversations. PerformYard provides dedicated customer success managers for every customer to manage them from onboarding, to employee training, to ongoing support.

Features:

• Fully customizable performance strategy unique to each organization’s needs, including 360-degree feedback, project-based reviews, and continuous feedback
• Dedicated Customer Success Manager to all customers regardless of size
• Robust goal management, including cascading goals, individual progress tracking, and performance insights
• Integrate with most major HRIS/Payroll systems including ADP, BambooHR, Gusto, Rippling, UKG, Paycom, Workday, and Paylocity.

Best For: Flexible performance management software that respects and facilitates the individual strategic HR needs of every organization.

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#5) Synergita

Price: Basic: $5/user/month

Synergita provides agile employee performance management, employee engagement and OKR solutions to organization that thrives to achieve high performance-driven growth.

350,000 users from 100+ companies across the globe including IT/ITES, Manufacturing, Pharma, Financial Services/FinTech, Retail and Non-Profit sectors trust Synergita for their employee performance management, engagement, and OKR.

• AI-powered sentiment analysis to conserve and nurture positive feedback culture across the organization.
• A lightweight, result-focused OKR solution enables organizations to launch OKR instantly to specific functional teams or across organizations.
• Deep functionality such as matrix goals management, Continuous check-ins, 360-degree appraisal feedback, 1-1 meeting, Smart promotion management delivers complete automation of digital transformation of performance.
• Culture score to measure adherence to company culture by employees across the organization.
• Configurable dashboards and reports to help you get insightful people and performance analytics.

Best For: Synergita provides best-in-class continuous performance management, employee engagement, and OKR solution to build high-performing teams.

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#6) Bambee

Price: Starts at $99/month.

Bambee is for those who want to implement the best HR practices at affordable prices. Bambee’s performance management services were meant for small businesses. You are assigned a dedicated HR professional who ensures that your HR policies are up-to-date and your staff is functioning at an optimal level. 

You get report cards, which you can refer to assess your staff’s overall performance. You can openly communicate with them to give your praise or feedback. What truly sets Bambee apart from other performance management services, is its implementation of 2-way feedback. This way even employees can voice their opinions regarding the work environment they are subjected to. 

Features:

• Employee Relationship Management
• Employee Coaching and Training
• HR Problem Solving
• Compliant Onboarding and Termination

Best for 2-Way feedback system and performance report cards

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#7) Namely

Price: Pricing details are not provided by the company. But as per the reviews available online, the price is between $12 – $30 per employee per month.

Namely is an HR, Payroll, and benefits platform. It provides a cloud-based solution to mid-sized companies from any industry. It stores the employee information at a centralized location. It provides a mobile app for iOS and Android devices.

Features:

• As an HR platform, it provides features like Custom Profiles, Mobile App, Analytics, Org Charts, Calendar, Workflows, central storage & management of documents, and configuring time-off plans.
• It allows you to set roles and responsibilities.
• It provides storage for billing reporting and documents.
• It can automatically sync benefit deductions to payroll.
• It allows you to share company-wide announcements.

Best For: It provides the best features for the HR and Payroll system. The system is easy to use.

Website: Namely

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#8) BambooHR

Price: The company provides two pricing plans i.e. Essentials & Advantage. You can contact the company to get a price quote for these plans. As per the reviews available online, the price for BambooHR starts at $99 per month.

BambooHR provides HR solutions to small and medium-sized companies.

Its employee review software helps the managers to compare the performance and engagement of individual activities through performance reports. BambooHR has an applicant tracking system and Electronic signature software.

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Features:

• It provides you the facility to collaborate with the managers for creating and monitoring the goals.
• It provides the company with performance reports which can compare organizational performance across departments.
• It provides an employee database that stores all the information from healthcare to home addresses at a centralized location.
• Simple and meaningful questions for performance insights from peers.
• Automated reminders.

Best For: It is a user-friendly system and is perfect for small businesses.

Website: BambooHR

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#9) ClearCompany

Price: Company has not provided any pricing details. As per the information available on the internet, the price for the system starts at $70.

ClearCompany is a talent acquisition and talent management software. It helps in hiring processes, onboarding, managing performance, and aligning team goals. It provides its services to small-sized businesses.

Features:

• Unlimited peer reviews.
• You can get time-based reviews.
• Automated reminders for complete tracking of reviews.
• It is fully customizable. It allows you to create your scales, questions, and sections.
• It can connect performance data to hiring.
• The applicant tracking system provides many features like bulk emails, mobile career sites, and social sharing tools.

Best For: System is best as an Applicant tracking system.

Website: ClearCompany

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#10) 15Five

Price: 15Five provides three pricing plans, Basic ($7 per person per month), Plus ($14 per person per month), and Enterprise plan. Contact the company to know more about the Enterprise plan.

15Five is an employee performance software. It improves employee engagement by continuously asking questions. All the reports or data will be saved with 15Five. It provides good features and functionalities for feedback management.

Features:

• With 15Five, you will be able to plan and execute a 1-on-1 meeting with the team members.
• It provides a powerful question bank and feedback questions for a weekly check-in.
• Objectives and Key Result feature will keep the team to be focused, aligned, and engaged.
• The system allows getting self & manager review, peer review, and upward review.

Best For: The system is best for the communication features.

Website: 15Five

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#11) IBM Talent Management

Price: The price for IBM Cloud Application Performance Management starts at $26.60 per month. The price for IBM Kenexa Employee Assessments will start from $319.20 per 10 scores.

IBM Talent Management provides HR Solutions, Talent management, talent acquisition, and assessment tests.

For Talent Acquisition, there are multiple solutions like IBM Kenexa Talent Acquisition Suite, IBM Kenexa Employee Assessments, IBM Watson Candidate Assistant, and IBM Watson Recruitment.

For Talent Assessments, IBM provides Individual Assessments, Enterprise Assessments, and Cybersecurity Assessments. IBM Talent Management is a perfect solution to any sized business.

Features:

• Talent Acquisition is powered by AI.
• Behavioral and skills assessment tests.
• Enterprise assessments.
• Data-driven insights provided by Watson AI will help you to find the best fit candidate for your organization.

Best For: IBM Talent Management can be used by small, medium, and large-sized businesses. It provides solutions to help businesses in training and developing talent.

Website: IBM Talent Management

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#12) SAP SuccessFactors

Price: Price for SAP SuccessFactors Performance and Goals will be $4.17 per user per month.

SAP SuccessFactors provide the solution for HR, Payroll, and analytics.

It helps businesses in recruitment, learning & development, performance management, and compensation. It provides cloud-based HR solutions to all sized companies.

Features:

• Goal Library contains more than 500 goals. It will help you in setting the standards.
• The Mobile Goal Management feature will allow you to comment and update the employee efforts.
• For continuous performance management, it encourages the dialogue between employees and managers.
• Writing Assistant and Coaching Advisor will help you with meaningful feedback.

Best For: HR Tool is the best solution provided by SAP SuccessFactors.

Website: SAP SuccessFactors

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#13) Oracle HCM

Price: For Talent Management, the price will be $8 per user per month. For Talent Acquisition, the price will be $5 per employee per user. Global HR price will be $13 per employee per month.

Oracle HCM provides cloud-based solutions of HR, Talent Management, and Workforce Management to medium and large-sized businesses. Talent management provides different features for Recruiting, Performance management, Talent profile, and learning.

Features:

• Set and share meaningful goals.
• It allows you to track the progress in real-time.
• It helps in creating training programs.
• Easy to access the candidate’s profiles and talent pool.
• Global HR product will allow the employees to manage their own information, absences, and benefit enrollments.
• It accurately captures the time for all employees (like full-time, contingent, non-exempt, and project-based).

Best For: The product is user-friendly and easy to use.

Website: Oracle HCM

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#14) UltiPro

Price: Pricing information is not provided by the company. It has a subscription-based pricing policy. You will have to contact the company to know more about it.

UltiPro is a human capital management (HCM) solution.

This cloud-based solution helps companies with HR, Payroll, and talent management. It provides many features and functionalities like time management, performance management, succession management, predictive analytics tool, compensation management, and much more.

The system is perfect for any sized business.

Features:

• It has a time tracking feature.
• It helps in recruiting processes.
• It provides employee surveys and sentiment analysis.
• The talent management system has a continuous performance management process and supports employee career development.
• It has functionalities for Payroll administration, Tax Management, and Compliance.

Best For: The system is best for Payroll functionalities.

Website: UltiPro

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#15) HRSoft

Price: Company has not provided any pricing details. You will have to contact the company to know more about the product pricing.

PERFORMview is a simple and strategic project management software provided by HRsoft.

It is a cloud-based system. The system will help managers in building better relationships with the team in order to make the team more engaged and productive.

Features:

• It provides features that help in setting the organizational goal.
• To simplify the process it provides the features of 360 Feedback, Review automation, automated workflows, and focused templates.
• For managers, it provides goal approval controls, performance ratings, development plans, and real-time reporting and alerts.

Best For: Performance management and compensation management.

Website: HRSoft

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#16) Engagedly

Price: The price for Performance management will be $5 per user per month.

Engagedly is a performance review software that has employee engagement features.

It provides a solution to any sized company. It includes the features of performance reviews, real-time feedback, ongoing check-ins, social learning, goals, and recognition.

Features:

• It offers an engaging performance management system.
• 360 review process.
• It allows you to give real-time one-on-one feedback.
• You can provide social praise.
• Cascading goal setting module will allow you to set, track and monitor the goals.
• Engagedly employee recognition platform will allow employees to add awarding points to each other.

Best For: The system is best for its performance management features and functionalities.

Website: Engagedly

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#17) PeopleFluent

Price: Company has not provided any pricing details. You will have to contact them to know more about the product pricing.

PeopleFluent offers cloud-based solutions for talent acquisition, talent management, and learning.

It automates the performance management process. It has integrated talent management, robust competency management, and proactive career development. The system serves large size companies.

Features:

• Continuous feedback.
• To improve productivity, you can align employees with the organizational goals.
• It can be integrated with talent management for compensation, succession planning, and learning solutions.
• Built-in analytics.
• It provides a user-friendly administration tool that helps to automate the performance management process.
• It has robust goal-setting features which allow goals to be public, private, locked, or modifiable.

Best For: Applicant tracking system.

Website: PeopleFluent

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Conclusion

This was all about performance management and top performance appraisal software that are available in the market.

To conclude, we can say that Namely is good for HR and Payroll functionalities, while BambooHR is a perfect solution for small businesses and 15Five has good communication features.

Trakstar and Reviewsnap are our recommended performance management tools. ClearCompany and PeopleFluent are also good applicant tracking systems. HRsoft and Engagedly provide the best performance management features. UltiPro is best for payroll functionalities and SAP SuccessFactors is the best as an HR tool.

There can be three pricing models for any performance management software, i.e Pay-per-user, Pay-per-employee, or Pay-per-appraisal. Price range for Pay-per-user can be between $3 to $10 per user/month plus the setup fees.

The price range for the Pay-per-employee model can range between $1.50 to $5 per employee/month plus the implementation charges. The price for the Pay-per-appraisal model can range from $15 to $40 per appraisal.

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Hope this article will help you in choosing the best Employee Performance Appraisal Management Software for your company!!

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