Top 15 Best Performance Management Software Of 2024

Performance management is a marathon, not a sprint. And during that long and arduous marathon, you’d be hard-pressed to find a better ally than strong performance management software.

As organizations evolve their strategies and management methodologies, making use of the full potential of their employees and streamlining the performance management process are two goals that are rising to prominence.

With the ever-present rise to prominence of remote working models gaining more and more traction each passing year, it is without a doubt that investing in performance management software systems is slowly but surely turning into a must for organizations.

A software that is designed to improve the business performance and employee productivity of its users through features such as goal setting and tracking, performance reviews, and so much more.

Finding a functional performance management software isn’t the issue here, as there are many incredible options saturating the marketplace. In fact, the overabundance of data surrounding this discussion is where things get difficult.

he real issue is in choosing the right performance management software to fit your company’s needs and culture. As you conduct your research into finding the perfect performance management software for you, it is often inevitable to drown in a sea of information surrounding the subject.

You might find yourself asking questions such as:

• What is performance management software?
• What is the best performance management software?
• Which performance management software helps with employee engagement?
• How to choose the best performance management software?

That is why we here at Teamflect wanted to present you with a list of top performance management software, updated to reflect the 2024 scene in this ever-shifting landscape.

What to look for in performance management software?

What we are offering you with this top 10 list is data. What we believe we should offer you before you dive into said data, is some insight into how you should analyze it.

Each organization has different needs and approaches when it comes to performance management. That is why the best performance management software is the one that can be flexible enough to adapt to its users’ needs, yet still have a solid foundation its users can rest upon.

You can analyze your company needs, do your research, and then find software that can be customized in a way to fit your needs but also offers you what you didn’t know you needed in the first place performance management software comparison.

If you’ve never worked with performance management software before let us tell you what exactly it is that you should look for in a performance management tool.

Intuitive Design

Have you ever wondered what happens after the “And they lived happily ever after.” line in fairy tales? Does Snow White ever regret her decision to be with Prince Charming because of how difficult he is to be with?

The integration and adoption phases of rolling out new performance management software organization-wide can potentially end up like the alternative fairy tale we described above.

If the software of your choice is too complicated or requires the consumption of minutes upon minutes of tutorials in order to operate to its fullest capacity, then it probably isn’t the best choice for you.

Your performance management tool should be extremely easy to comprehend. A quick browse around the main dashboard should be what all your employees need in order to understand how to navigate the new software that is about to become a huge part of their day-to-day operations.

Integration

If you are planning on investing in performance management software, the chances are you are also using other software or online platforms to streamline your day-to-day operations, and for that, more power to you.

Having to navigate back and forth between multiple platforms, however, could end up being a confusing and disengaging process for your employees. Transferring related data from one tool to the other could end up wasting a lot of time and energy, and still, end up causing issues in communication and employee engagement.

That is why you need to make sure the performance management tool you are using has seamless integration with the other software and platforms you might be using, such as Microsoft Office, Microsoft Teams, or Outlook.

Customization

We’ve said this before and we’ll more than likely say it again. Every business has different needs. Your performance management approach is unique to you. That is why you should have a software that can help reflect your approach to performance management.

Each aspect of your performance management software should be heavily customizable. Your management style shouldn’t be shaped by the software but the other way around. There is great benefit in the software itself guiding you and presenting you with templates. But you should be able to customize your experience to fit your company’s needs.

Tool name	Best for	Price
Teamflect	Microsoft Teams integration	$5 per user/month
BambooHR	HR management	$5.25 per user/month
Reviewsnap	Tracking SMART goals	$2849 per year
Trakstar	Automated feedback cycles	$249 per month
Performyard	Reporting	$4 per user/month
Leapsome	Performance reviews	$8 per user/month
Motivosity	Peer-to-peer reviews	$2 per user/month
Bob	Employee onboarding	$8 per user/month
CultureAMP	Pulse surveys	$3000 per year
Quantum Workplace	Great customer support	–
Namely	Flexibility	$16 per user/month
Lattice	Performance management cycles	$4 per user/month
Engagedly	Customized performance reviews	$5000 per year
Synergita	Progress tracking	$4 per user/month
Workday	Human capital management	$40 per user/month

Top 15 Employee Performance Management Tool

1. Teamflect

If you are looking for seamless integration, then you would have a hard time finding a better performance management software than Teamflect. Being designed to fit Microsoft Teams perfectly, they allow their users to access any performance management feature they could possibly need without ever having to leave Microsoft Teams.

The simplicity of Teamflect’s main dashboard along with its user-friendly design, allows employees to adopt the software with ease.

Teamflect offers a wide array of performance management features, all streamlined to be accessible with the least amount of steps, in order to save time and energy. While Teamflect offers a number of templates for employee performance reviews, these templates are heavily customizable to fit your company’s needs. These templates range anywhere from 360-Degree Feedback, Self Review, 30-90-180 Day Check-Ins, and Exit Interviews.

Initially designed as an employee recognition software, growing into an absolute powerhouse of a performance management software, Teamflect still offers flexible and customizable Recognitions module that can be utilized to enhance employee engagement and visibility.

Key Features:

• The best performance management tool for Microsoft Teams
• Keeps the performance management process in a single app
• Highly efficient one-on-one meetings with built-in task assignments and note-taking tools
• User-friendly design
• Customizable and automated review cycles with built-in templates
• Extremely streamlined
• Templates can be customized to conduct exit interviews, stay interviews, 30-day reviews, etc.

2. Bamboo HR

BambooHR is well-conceived HR Software that is very helpful in easing the collection, analysis, and processing of employee data, helping HR departments around the world in both employee retention and recruitment. They also offer a range of goal-tracking functions that can prove incredibly useful in your operations.

Key Features:

• Centralized Employee Database
• Simple and effective question prompts to gain insight into employee performance
• Provides reports that can help in the cross-departmental comparison of organizational performance

3. Reviewsnap

Reviewsnap is an incredible performance management software that has a strong focus on employee reviews and feedback, offering a cost-effective approach that includes multiple different performance review formats such as regular performance reviews and 360-degree feedback.

Reviewsnap can offer you a great way to support feedback culture in your workplace and enhance employee engagement and open communication.

Key Features:

• Offers the usage of e-signatures, automated reminders, and e-mail notifications.
• It includes SMART goals and has strong goal-tracking and managing functions.
• It has automated and customizable appraisal forms.
• Not only does it have automated appraisal forms, but also the freedom to conduct unlimited review cycles.

4. Trakstar

Trakstar is a performance management software that helps organizations manage performance reviews, encourages feedback, and focuses on making goal management processes smoother.

It also offers 360/ feedback that presents managers with a wide range of data on employee performance.

Key Features:

• Offers agile performance review reports.
• Integrated note-taking functions and automated e-mail notifications.
• Built-in goal setting and goal tracking functions
• It offers real-time 360 Degree Feedback.
• Easy to organize weekly check-ins and self-reviews.

5. Performyard

Performyard‘s performance management software has two central points of focus and they are simplicity and flexibility, which makes it a great tool for both organization departments and HR teams.

Their emphasis on keeping the employee experience simple and encouraging high-quality feedback and beneficial discussions can easily be highlighted as some of their strong suits.

With 360-degree feedback, performance reviews on a project basis, rating scales, and goal-tracking functions, they boast a strong arsenal of features that initiate constructive discussions in the workplace while streamlining the performance management process.

Key Features:

• They offer highly customizable software that can fit the needs of each organization.
• 360-degree feedback, project-based reviews, and continuous feedback
• They assign a dedicated customer success manager to all their customers.
• They offer a strong goal management tool with multiple different ways of gaining performance insights and effective goal tracking.

6. Leapsome

Leapsome is a great tool for managers who want to have access to a wide array of feedback modules that they can design performance review cycles. Boasting some classic features such as 360-degree feedback, they support their performance review cycles with leadership assessments and other performance-based features.

They also offer very strong analytics functions that help organizations gather data and gain credible insights into the performance of their employees. Organizations can see and analyze what conditions allow for optimal employee performance and devise performance management strategies and approaches accordingly, using Leapsome.

Features:

• Performance reviews, 360 feedback, leadership reviews, automated cycles and reminders, expert templates, and note-taking.
• Engagement surveys, instant feedback, public praise, turnover prediction.
• Goal & OKR management

7. Motivosity

Motiviosity is a cloud-based employee recognition tool that has its functions separated into four simple areas: Connect, Recognize, Lead, and Listen. This smart streamlining and simplifying of their services results in user-friendly software with simple and effective functions that don’t confuse its users.

The true meat of their performance management benefits is under their product: Lead. Which aims to turn your managers, into leaders. They have a strong emphasis on helping their users establish and maintain a lasting company-wide feedback culture.

They foster individuality and strong employee relationships through the inclusion of functions such as personal profiles and interest groups. They also enable their users to make company announcements through social media and e-mail.

Key Features:

• Continuous Feedback
• Performance Coaching
• Priorities.
• Succession Planning

8. Bob

While Bob‘s strongest suit might seem like HR Tools, their performance management software is nothing to take lightly. This is a simple, yet effective performance management tool that can be seen as a jack of all trades.

They offer an easily accessible tool with excellent goal-setting and tracking functionalities. They are very proud of their review cycles and they have every right to be so. They offer customizable review cycles that give their users complete control over the review process.

Key Features:

• The ability to prioritize check-ins with custom templates.
• 360-Degree Feedback
• Seamless Review Cycle
• Goal Tracking & Performance Review Integration

9. CultureAMP

CultureAMP‘s performance management software is unique in the sense that it focuses heavily on the sense of community, supporting the effective software with a wide range of virtual events and community resources.

Their system has strong scientific backing as it was designed by data scientists and organizational psychologists. They offer a wide array of science-backed templates, feedback, and calibration tools, alongside Goal and OKR tracking. They also give employees an opportunity to start their own surveys.

Key Features:

• Goal and OKR Tracking
• Multi-source Feedback
• Performance Review Calibrations
• A strong community connected through virtual events

10. Quantum Workplace

Quantum Workplace is a great fit for organizations of various sizes. They offer their users a platform to set goals and update goals, share objectives in a cross-departmental manner, recognize the successes and accomplishments of their employees, and enhance their productivity. They list their most common uses to be for: OKR Management, Employee Recognition, Employee Engagement, Talent Management, and 360-degree Feedback.

Key features:

• Data Analysis
• Automated Reminders
• Goal Setting & Progress Tracking.
• Cloud-Based

11. Namely

At the heart of Namely is its robust core HR module, which serves as a centralized hub for managing employee data. The app allows HR teams to effortlessly store and access vital employee information such as personal details, employment history, time off, and compensation data. With customizable fields and permissions, businesses can tailor the platform to meet their unique needs and ensure data accuracy and security.

Namely simplifies the often complex process of payroll management, ensuring accurate and timely payments to employees. The platform seamlessly integrates with various payroll systems, automating tasks such as tax calculations, deductions, and direct deposit.

Furthermore, Namely’s benefits administration feature enables HR teams to efficiently manage employee benefit plans, including enrollment, eligibility tracking, and reporting, all within a single platform.

Forget your days of cumbersome performance reviews and manual tracking of employee goals. Namely provides an intuitive performance management module that enables HR professionals to set goals, track progress, and provide feedback throughout the year.

The app facilitates continuous performance conversations and supports 360-degree feedback, fostering a culture of growth and development within the organization.

Key features:

• Onboarding
• Time and Attendance
• Recruiting add-on
• Benefits administration

12. Lattice

Lattice empowers organizations to move away from the outdated annual performance review cycle and embrace a culture of continuous feedback. The app provides a seamless interface for managers and employees to exchange feedback in real time, ensuring that recognition and guidance are timely and actionable.

With Lattice, managers can easily provide constructive feedback, celebrate achievements, and support their teams’ growth on an ongoing basis. Lattice streamlines the goal-setting process, enabling managers to cascade goals throughout the organization, ensuring alignment and clarity.

Employees can set their own goals, track progress, and collaborate with colleagues, fostering a sense of ownership and accountability. Lattice’s goal-tracking feature helps organizations monitor progress, identify areas for improvement, and drive collective success.

Data-driven decision-making is vital in optimizing performance management processes. Lattice provides powerful analytics and reporting capabilities that offer valuable insights into employee performance, engagement, and development. HR teams can leverage these analytics to identify trends, pinpoint skill gaps, and tailor learning and development initiatives to address specific needs.

Key features:

• Activity Tracking
• Budget Management
• Organizational Charting
• On-going Performance Tracking

13. Engagedly

HR teams can align individual goals with overall organizational objectives, ensuring that every employee’s efforts contribute to the company’s success using Engagedly. Through the app, managers can set SMART goals, track progress, and provide ongoing feedback, fostering a culture of continuous improvement and growth.

Engagedly promotes a culture of continuous feedback, enabling managers and peers to provide real-time recognition and constructive feedback. Engagedly has a 360-degree review feature that allows employees to gather feedback from colleagues, supervisors, and even clients, providing a holistic perspective on their performance.

Understanding employee sentiments and gathering feedback is crucial for HR teams to address concerns and improve the employee experience.

Engagedly offers survey and feedback functionalities that allow organizations to create and distribute customized surveys, pulse checks, and engagement questionnaires. These tools help HR professionals gather valuable insights, identify areas for improvement, and take proactive measures to address employee concerns and boost engagement levels.

Key features:

• 360-degree Feedback
• Employee Recognition
• Goal Setting/Tracking
• Survey Module

14. Synergita

Synergita is a performance management app that helps organizations build a culture of continuous feedback and growth. The app provides a variety of features that empower employees and managers to give and receive feedback, set goals, and track progress.

Synergita allows employees and managers to give and receive feedback in a variety of ways, including through surveys, 1:1 conversations, and group discussions. This helps to create a more open and transparent work environment, where employees feel comfortable sharing their ideas and feedback.

Synergita helps employees and managers to set goals that are aligned with the organization’s strategic objectives. This helps to ensure that everyone is working towards the same goals and that their efforts are aligned with the overall direction of the company. Synergita tracks employee progress over time, which helps employees to see their progress and identify areas where they can improve.

Key features:

• Progress Tracking
• Smart Promotion Process
• Performance Improvement Plan
• 1-1 Meetings

15. Workday

Workday offers a goal-setting function that enables managers to create and track SMART (Specific, Measurable, Achievable, Relevant, and Timely) goals. Workday’s goal management feature gives employees a clear sense of purpose and direction by allowing them to view their goals, track progress, and receive real-time feedback.

Workday makes the performance review process more efficient by offering customizable templates to help organizations tailor evaluations to their specific needs. Workday’s calibration feature enables HR teams to ensure fairness and consistency by comparing performance ratings across teams or departments.

If we dive into some talent management software comparison, Workday is an outstanding choice. Workday’s performance management features help managers attract, develop, and retain top talent by giving them a complete picture of employees’ skills and how they relate to the organization’s goals.

HR teams can identify high-potential employees, nurture their growth through targeted development plans, and proactively plan for future leadership needs—all while keeping an eye out for gaps in talent or skill sets.

Key features:

• Talent Management
• Recruiting
• Analytics and Reporting
• Employee Self-Service

What are the key features of performance management software?

Goal setting and alignment: Performance management software should allow managers to set clear, measurable goals for individual employees or teams, aligning them with broader organizational goals. This feature in performance management software enables employees to understand how their work contributes to overarching goals, cultivating motivation and accountability.

Continuous feedback and coaching: Effective performance management software highlights ongoing feedback and coaching rather than relying on annual or semi-annual reviews only. The platform facilitates real-time feedback exchange between managers and employees, enabling timely recognition of achievements and constructive discussions about areas of improvement.

Performance reviews and evaluations: Self-explanatory by its name, performance management software needs to provide a structured framework for conducting performance reviews and evaluations, allowing leaders to assess employee performance with consideration of predetermined competencies and criteria. It streamlines the review process, standardizes evaluation, and ensures consistency across the organization.

360-degree feedback: Many performance management systems offer 360-degree feedback functionality, allowing employees to receive input from peers, subordinates, and other levels of the organization in addition to their team leaders. This comprehensive feedback feature helps employees gain a holistic view of their overall performance, promoting self-awareness and personal growth.

Performance analytics and reporting: Performance management software often includes a well-designed analytics and reporting feature, enabling managers and HR professionals to track KPIs, and industry trends, and generate actionable insights. Without a good analytics feature, a performance management software cannot provide the necessary visibility of individual and team performance, which renders it ineffective.

Customization and scalability: Performance management software should be customizable to accommodate the unique needs and processes of different organizations and teams. It should offer flexibility in creating and designing evaluation forms, workflows, and performance metrics to align with organizational objectives with regard to prioritization. Additionally, the software should be scalable so that it’s able to support the growth and evolving requirements of the organization over time.

Conclusion

To wrap it up, folks, we’ve taken a deep dive into the awesome world of employee performance software in 2024. And let me tell you, it’s been quite the ride! We’ve uncovered the top 15 performance management systems that have been making waves and transforming how companies measure and boost employee performance.

But hold on, it doesn’t stop there. We’re talking about AI and machine learning taking center stage in these performance management tools. With 360-degree feedback, continuous monitoring, and personalized development plans, you can bet your bottom dollar that managers and employees are having some seriously meaningful conversations and making data-driven decisions like never before.

And guess what? These performance management solutions have made it super easy to access and collaborate on the cloud. It doesn’t matter if you’re a small team or a global powerhouse – everyone gets to play. Plus, the seamless integration with other HR and productivity tools adds an extra sprinkle of efficiency and effectiveness to the mix.

So, what does the future hold for performance management software? Well, it’s crystal clear that they’ll continue to be the secret sauce for successful organizations. We recommend harnessing these innovative tools so that you can build a culture of constant improvement, nurture their talent, and kickstart some serious growth.