Best Performance Management Software in 2023

Anish Sharma Anish Sharma Abhinav kumar Abhinav kumar
Dec 21, 2022 9 min read
Best Performance Management Software in 2023

A study conducted by McKinsey and Company shared a report, which explains why employees have quit their jobs, and the most common reason was, a lack of career growth and advancement. Hence it becomes important for companies to track the performance of their employees and groom them for future roles.

Monitoring the performance of an employee in an organization and aligning their skills according to the goal of the company is a crucial task to perform. The efficiency of employees depends on how accurately you monitor their performance and help them to achieve their goals.
As a decision-maker in the company, you need to make data-driven decisions. So to push the right employee at the forefront and reward them with appropriate incentives, performance management software eases this task for you with valid data points.

For your convenience, we have handpicked some of the best performance review software that will eventually pave the way for your company's growth.

Top Performance Review Software

  1. HROne
  2. PossibleWorks
  3. Cornerstone PMS
  4. Zimyo PMS
  5. AssessTeam
  6. PerformYard
  7. Effy
  8. Leapsome
  9. ReviewSnap
  10. Engagedly
  11. Lattice

HROne

Rating 4.4/5
Best For Data Management and performance evaluation

Performance Management Software by HRone is the one-stop solution to review the performance of the existing workforce. Goal setting on a monthly, quarterly, or half-yearly basis is easier by just choosing the relevant templates. You only need to map the template with any department or designation you want to track the performance.

HROne

Acquire feedback from the clients or from the people you serve, for better transparency and accurate performance statistics. Let your customers decide which of your employees is performing better using automatic feedback.

Features of HROne

  • It automatically assigns the goal to a recruit after the specific period you decide.
  • Capture customized feedback based on the role of an employee and modify the questions whenever you want.
  • 9-box matrix to evaluate the best-performing employee with high potential and poor-performing employees.
  • Gauge the improvement of an employee and reward the high-performing employee in the organization with an appraisal or other rewards.

PossibleWorks

Rating 4.5/5
Best For Performance review, Appraisals and Feedback

Keep your employees motivated and engaged with incentives and rewards based on their performance, and measure their performance with the robust PMS software of PossibleWorks. Set the goal and make the employee clear with their task. A clear goal assigned to an employee will increase efficiency and keep them motivated.

PossibleWorks

Align your workforce with the company's vision and boost the productivity level with a goal-centric approach. Managers are enriched with performance and progress data which help them to give extra attention to poor employees.

Features of PossibleWorks

  • Visually appealing data insights indicating top and poor-performing employees.
  • Continuous feedback between employees and managers creates a healthy work culture and improves worker efficiency.
  • Easy to track the performance throughout the year and gives proper insight for better appraisal decisions.

Cornerstone PMS

Rating 3.9/5
Best For Recruitment, Onboarding, Performance and Goal Analysis

Cornerstone PMS is the software solution to assess your workforce properly and make better decisions. Assessment of the employee is important to upskill them with proper training and learning. The data-driven performance insights are sufficient enough to evaluate the best from the whole company.

Cornerstone PMS

This software will help to create healthy competition within the organization. Healthy competition encourages employees to work at their true potential. Award your best-performing employee and motivate the whole team to do their best. Dashboard equipped with amazing filters to sort the employee based on different criteria.

Features of Cornerstone PMS

  • Make your review process in autopilot mode and automate the workflow.
  • Fill the skill gap of employees through proper assessment and learning.
  • Flexibility to set goals by the manager as well as by the employee.
  • Honour the employee with badges based on the feedback and their experience.

Zimyo PMS

Rating 4.6/5
Best For Small companies and Multiple Channel Integration

Zimyo PMS comes with the most innovative dashboard with quick insight into goals and performance through charts. Easily create goals for employees and monitor the progress on the go. Help employees stay focused on their goals and achieve success with quality feedback and reviews.

Zimyo PMS 

This software will help to identify the employees which need the training to improve their skills. A skilled employee is a valuable asset for a company that generates huge profits in the long run. Create goals, engage the employee, monitor the progress, and reward the best performer.

Features of Zimyo PMS

  • Set metrics like KPIs to monitor the performance in a much better way.
  • Timely compensation and appraisal of employees based on their performance review.
  • Fully automatic appraisal process.
  • Modern design with an intuitive user interface.

AssessTeam

Rating 4/5
Best For Team Performance and project specific productivity Tracking

Evaluate your employee's strong points and pain points to utilize their potential for the benefit of the company with the help of the best performance management software, AssessTeam. This software will help you in the journey to build an empire full of skilled employees.

AssessTeam

It will track your project in real-time and match the progress with the budget allotted to the project by comparing it to the timesheet of an employee. 360-degree evaluation of employees to provide them with optimum feedback and help them to achieve their assigned goals.

Features of AssessTeam

  • 1000s of preconfigured indicators to start tracking the performance with no difficulties.
  • Analyze the productivity in real-time and maximize the business growth.
  • Fully customizable according to the needs of the industry and your requirements.
  • Accessible on every device including smartphones and tablets.

PerformYard

Rating 4.7/5
Best For Customized performance and review process

PerformYard is a software solution to track the performance of the employees and align them with the goals of the company. Assigning responsibility to every employee, defining who needs to do what in the prescribed timeline, and monitoring the progress is straightforward with this intuitive tool.

PerformYard

1 on 1 feedback review to share important feedback about any employee in the organization before the review time. One can easily request feedback for their past performance on any specific work. This will create a continuous flow of feedback that eventually helps the software to provide the best results.

Features of PerformYard

  • High-end performance insights give a clear picture of an individual or team's goals with colorful charts and figures.
  • Feedback tag to star performers to let other employees know their achievements.
  • Performance notes to save some important things for future review.
  • Send the review form to the right reviewer with a single click of a button.

Effy

Rating 5/5
Best For Annual Review, Feedback and Surveys

Effy is an all-rounder performance management software that comes with an advanced and interactive user interface you must consider. Engage your employees, upskill their talent and achieve employee retention by continuously monitoring and providing valuable feedback to employees. Effy helps to create self-assessment reviews to identify strengths, weaknesses, and skills.

Effy

Skill matrix to align the available skill information and analyze which of your employees is lacking with which skills. Use this information to assign the right task to the right employee based on their skill set. Performance review is the main part of any PMS software, this tool has a bunch of templates to choose from and a frequency to set that depends on your requirement.

Features of Effy

  • Only 60-sec required to set up the software and you're good to go.
  • Insightful articles to help you with every aspect of performance management and utilize the true potential of the software.
  • Free templates of skill matrix to quickly put the skills information and analyze it further.
  • 1-1 meeting with an employee to gauge the performance more efficiently.

Leapsome

Rating 4.8/5
Best For Performance Management and Employee Engagement

Leapsome is a software solution dedicated to increasing the engagement, productivity, and skills of an employee. Loaded with all the features of simple management software, Leapsome is delivering remarkable results in improving the productivity of an employee. Also, recognize the best performing employee with appropriate rewards and encourage others to do the same.

Leapsome

Unleash the true potential of the people in the organization and create a great place to work. Upscale your business growth by consistently polishing the skill of the workforce.

Features of Leapsome

  • Easy integration with your other tools to import employee data seamlessly.
  • Knowledge hub with all the essential resources to get the best out of this tool.
  • Compensation and promotion management while tracking performance and analytics.
  • Seamless integration with your existing HR software.

ReviewSnap

Rating 4.1/5
Best For Tracking employee review and goals

ReviewSnap is another great addition to our list. With its performance-centric approach of delivering the best service for goals, feedback, review, and evaluation, this software is perfect to manage the performance of your employees. Whatever the objective of your goal is, it helps to achieve it by monitoring it at any time.

ReviewSnap

SMART (Specific, Measurable, Attainable, Realistic, Time-Sensitive) goal setting to align the team in the right direction and measure the performance and progress of the goal periodically. Consistently improve the performance of an individual employee and the whole team by providing continuous feedback.

Features of ReviewSnap

  • Review templates that are fully customizable according to your goal and objective.
  • A Robust Dashboard to have a quick insight to evaluate employees' performance and areas of improvement.
  • The pricing structure is designed in such a way that you only pay for the services you need.
  • Easy self-assessment by the team to gauge the expertise of everyone.

Engagedly

Rating 4.4/5
Best For Real-time feedback and productivity analysis

Engagedly is a well-known and trusted performance review software that believes in engaging the employee with clear objectives and goals. If an employee is aware of how their contribution is affecting the growth of a company, they tend to work with better efficiency. This software empowers managers to train their employees on their shortcomings with a 360-degree assessment and continuous feedback.

Engagedly

It offers a 3E platform. Execute performance, for performance review, OKRs and goal assignment, talent analytics & Mobility, and CXO insights. Enable development, for real-time feedback and online learning. Engage People, for Rewards and recognition, remote work collaboration, and employee survey.

Features of Engagedly

  • Capture innovative ideas from anyone in the organization.
  • Increase engagement between the employees with badges and rewards.
  • Align your workforce with the culture of an organization.
  • Mobile app to use the software anywhere, anytime.

Lattice

Rating 4.7/5
Best For Tracking performance and growth of employee

Turn on the productivity of your employee with Lattice. Set Goals and OKRs to align the workforce to fulfil the objective of a business. Lattice offers a performance-oriented solution to cater to the demand of businesses to measure the performance of an employee and teams.‌‌

Lattice

Get the latest report of every employee and evaluate their progress and performance. It helps to conduct surveys at different levels to know the work experience and other useful information.

Features of Lattice

  • Interactive dashboard loaded with the latest and essential features.
  • Initiative Engagement feature to build strong relationships between employees and the company.
  • Make your employee stay Anonymous to get honest feedback from the manager.
  • An immersive way available for employee development.

Conclusion

Performance appraisal software plays a vital role in Monitoring and Evaluation of the performance of employees. Employees are like engine oil for the business that helps the business to run smoothly. So monitoring the performance and developing it further is most important. Every organization needs Performance Appraisal Software, irrespective of the size of the business to achieve the best results possible so choose the right tool from the above list and align your employees toward the business goal.

FAQs

What is Performance Review Software?

Performance Review Software is designed to improve business performance by tracking and evaluating employee productivity and performance. It ensures individual employees and teams are engaged and aligned with organizational goals.

What is the best Performance Review Software?

The following are the best Performance Review Software

  • HROne
  • PossibleWorks
  • Cornerstone PMS
  • Zimyo PMS
  • AssessTeam
  • PerformYard
  • Effy
  • Leapsome
  • ReviewSnap
  • Engagedly
  • Lattice

What is 360-degree feedback?

360-degree feedback means in the feedback process not only the management can give feedback but also peers or sometimes customers and even give their feedback for a team or individual.

How to choose a good Performance Review Software?

Before choosing a performance review software for your company do check these features

  • Goal Management
  • Competency Management
  • Detail employee appraisal review
  • Good feedback system

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