30 Best Performance Management Tools of 2024

Employee performance tools help companies see how well their workers are doing and keep them motivated. These tools act as assistants for managing employees. They help with setting goals, getting feedback, doing performance reviews, and developing skills. Companies can use features like feedback systems, goal-matching tools, and strong analytics to find ways to improve their work and make sure individual goals match the company’s goals. Using these tools, companies can create a workplace where everyone is responsible for their actions, works on time, and is open about their work. This helps them become better at their jobs, work together, and succeed more.

Best Performance Management Tools

Tools	Key Features
15Five	Continuous feedback, OKRs, and performance reviews
BambooHR	Goal tracking, performance reviews, employee self-service
Betterworks	Goal alignment, continuous feedback, performance analytics
ClearCompany	Goal setting, performance reviews, engagement surveys
Cornerstone on Demand	Performance reviews, learning management, career development
Culture Amp	Employee surveys, feedback tools, performance analytics
Engagedly	Goal management, 360-degree feedback, employee recognition
Epicor HCM	Performance reviews, compensation management, talent acquisition
Feedbackly	Real time feedback, performance analytics, employee management
Gallup	Employee engagement surveys, performance analytics, consulting
Halogen Software	Performance appraisals, goal setting, succession planning
Impraise	Continuous feedback, performance reviews, goal tracking
Kronos Workforce Ready	Performance management, time tracking, HR automation
Lattice	Performance reviews, goal setting, employee engagement
Namely	Performance management, payroll, benefits administration
Peakon	Employee engagement surveys, performance analytics, action planning
PeopleFluent	Performance appraisals, talent acquisition, learning management
Performly	Goal setting, performance appraisals, competency management
Reflektive	Real-time feedback, performance reviews, goal management
Saba TalentSpace	Performance reviews, learning management, career development
Sap SuccessFactors	performance management, HR analytics, talent acquisition
Small Improvements	Continuous feedback, performance reviews, 360-degree feedback
TINYpulse	Employee surveys, feedback tools, recognition programs
Trakstar	Performance appraisals, goal setting, competency management
Workday Human Capital Management	performance management, payroll, HR analytics
Workfront	Performance reporting, compliance management, collaboration
Workiva	Performance management, resource management, performance analytics
Zoho People	Performance management, HR automation, employee self-service
Zugata	Performance reviews, feedback tools, career development
HR Cloud	Performance management, employee management, HR analytics

15Five

• Pricing: Starts at $7 per user per month.
• Features: Offers continuous feedback tools, OKRs (Objectives and Key Results) tracking, and performance review functionalities. It enables managers to stay updated on their team’s progress and challenges through weekly check-ins and reports.
• Pros: User-friendly interface, customizable questions for check-ins, robust reporting and analytics.
• Cons: Some users may find the pricing slightly high for small teams.

BambooHR

• Pricing: Starts at $6 per employee per month.
• Features: Provides goal tracking, performance reviews, and employee self-service functionalities. It helps in streamlining HR processes, including onboarding, time-off management, and employee data management.
• Pros: Intuitive interface, customizable performance review templates, good customer support.
• Cons: May lack advanced features compared to more specialized performance management tools.

Betterworks

• Pricing: Price can vary according to the plan.
• Features: Focuses on goal alignment, continuous feedback, and performance analytics. It enables organizations to set and track goals, provide regular feedback, and analyze performance data to drive employee development.
• Pros: Strong goal-setting features, robust analytics, integration capabilities with other HR systems.
• Cons: Pricing may be prohibitive for small and medium-sized businesses.

ClearCompany

• Pricing: Price can vary according to the plan.
• Features: Offers goal setting, performance reviews, and engagement surveys. It helps in aligning individual goals with organizational objectives, conducting effective performance evaluations, and measuring employee engagement.
• Pros: Customizable performance review templates, intuitive user interface, comprehensive reporting.
• Cons: Pricing and feature complexity may not suit smaller organizations.

Cornerstone OnDemand

• Pricing: Price can vary according to the plan.
• Features: Provides performance reviews, learning management, and career development tools. It offers a unified platform for talent management, including performance appraisal, training, and succession planning.
• Pros: Scalable solution for large enterprises, extensive learning management capabilities, global support.
• Cons: High initial investment, may require customization for specific needs.

Culture Amp

• Pricing: Price can vary according to the plan.
• Features: Focuses on employee surveys, feedback tools, and performance analytics. It helps organizations measure and improve employee engagement, culture, and performance through regular surveys and actionable insights.
• Pros: Easy-to-use survey builder, advanced analytics, benchmarking against industry standards.
• Cons: Pricing may not be transparent, may require dedicated effort for effective implementation.

Engagedly

• Pricing: Price can vary according to the plan.
• Features: Offers goal management, 360-degree feedback, and employee recognition functionalities. It helps in setting and tracking goals, collecting feedback from multiple sources, and rewarding employees for their contributions.
• Pros: User-friendly interface, comprehensive goal setting features, continuous feedback options.
• Cons: Limited integration options, pricing may vary based on features needed.

Epicor HCM

• Pricing: Price can vary according to the plan.
• Features: Provides performance reviews, compensation management, and talent acquisition tools. It offers a comprehensive suite for managing HR processes, including performance evaluation, payroll, and recruiting.
• Pros: Integrated HR solution, customizable workflows, compliance management features.
• Cons: May require extensive customization for specific industry needs, complex implementation process.

Feedbackly

• Pricing: Price can vary according to the plan.
• Features: Offers real-time feedback tools, performance analytics, and employee engagement features. It allows organizations to gather feedback from employees, analyze sentiment, and take proactive measures to improve performance and engagement.
• Pros: Easy-to-use feedback platform, customizable survey templates, sentiment analysis.
• Cons: Limited advanced analytics features, pricing may not be transparent.

Gallup

• Pricing: Price can vary according to the plan.
• Features: Specializes in employee engagement surveys, performance analytics, and consulting services. It helps organizations measure and improve employee engagement, productivity, and performance through data-driven insights and expert guidance.
• Pros: Trusted brand in employee engagement, comprehensive survey tools, actionable insights.
• Cons: High cost for consulting services, may require ongoing support for sustained results.

Halogen Software

• Pricing: Price can vary according to the plan.
• Features: Focuses on performance appraisals, goal setting, and succession planning. It helps organizations conduct fair and effective performance evaluations, set and track goals, and identify future leaders within the organization.
• Pros: Flexible performance review templates, talent management features, robust reporting.
• Cons: Pricing may be prohibitive for small businesses, complex implementation process.

Impraise

• Pricing: Price can vary according to the plan.
• Features: Offers continuous feedback, performance reviews, and goal tracking functionalities. It enables organizations to facilitate regular feedback exchanges, conduct meaningful performance evaluations, and align individual goals with organizational objectives.
• Pros: User-friendly interface, customizable feedback templates, integration with collaboration tools.
• Cons: Limited customization options, pricing may not be transparent.

Kronos Workforce Ready

• Pricing: Price can vary according to the plan.
• Features: Provides performance management, time tracking, and HR automation tools. It offers a unified platform for managing workforce-related processes, including performance evaluation, attendance tracking, and compliance management.
• Pros: Scalable solution for medium to large enterprises, comprehensive HR features, cloud-based deployment.
• Cons: Complex interface, may require extensive training for users, high initial investment.

Lattice

• Pricing: Price can vary according to the plan.
• Features: Focuses on performance reviews, goal setting, and employee engagement. It helps organizations conduct meaningful performance evaluations, set and track goals, and foster a culture of continuous feedback and recognition.
• Pros: Intuitive interface, customizable review cycles, integration with HRIS and communication tools.
• Cons: Pricing may not be transparent, limited integration options with other systems.

Namely

• Pricing: Price can vary according to the plan.
• Features: Provides performance management, payroll, and benefits administration tools. It offers a comprehensive HR solution for managing employee data, processing payroll, conducting performance reviews, and administering benefits.
• Pros: All-in-one HR platform, customizable performance review templates, compliance management features.
• Cons: Pricing may not be transparent, may lack advanced features compared to specialized tools.

Peakon

• Pricing: Price can vary according to the plan.
• Features: Specializes in employee engagement surveys, performance analytics, and action planning. It helps organizations measure employee sentiment, identify areas for improvement, and take proactive measures to enhance employee engagement and performance.
• Pros: Easy-to-use survey platform, advanced analytics, real-time insights.
• Cons: Pricing may not be transparent, which can make it difficult for organizations to success.

PeopleFluent

• Pricing: Price can vary according to the plan.
• Features: PeopleFluent offers a suite of performance management tools that include performance appraisals, talent acquisition, and learning management. It helps organizations streamline their talent management processes, from recruitment to performance evaluation and development.
• Pros: Comprehensive suite covering various HR functions, customizable performance appraisal workflows, integration capabilities.
• Cons: Pricing and feature complexity may not be suitable for smaller organizations.

Performly

• Pricing: Price can vary according to the plan.
• Features: Performly provides features for goal setting, performance appraisals, and competency management. It focuses on aligning individual goals with organizational objectives, conducting regular performance evaluations, and identifying skills gaps for employee development.
• Pros: User-friendly interface, customizable performance review templates, competency mapping tools.
• Cons: Limited integration options with other HR systems, pricing may not be transparent.

Reflektive

• Pricing: Price can vary according to the plan.
• Features: Reflektive specializes in real-time feedback, performance reviews, and goal management. It enables organizations to foster a culture of continuous feedback, conduct regular performance evaluations, and align individual goals with company objectives.
• Pros: Easy-to-use feedback platform, customizable review cycles, integration with collaboration tools.
• Cons: Pricing may not be transparent, limited integration options with other systems.

Saba TalentSpace

• Pricing: Price can vary according to the plan.
• Features: Saba TalentSpace offers performance reviews, learning management, and career development tools. It helps organizations assess employee performance, provide learning opportunities, and support career growth through personalized development plans.
• Pros: Integrated platform for performance and learning management, customizable review processes, mobile-friendly interface.
• Cons: Pricing and feature complexity may not be suitable for smaller organizations.

Sap SuccessFactor

• Pricing: Price can vary according to the plan.
• Features: Sap SuccessFactors provides performance management, HR analytics, and talent acquisition tools. It offers a comprehensive suite for managing HR processes, including performance appraisal, goal management, and succession planning.
• Pros: Scalable solution suitable for large enterprises, extensive feature set, integration with other SAP modules.
• Cons: High initial investment, may require extensive customization for specific requirements.

Small Improvements

• Pricing: Price can vary according to the plan.
• Features: Small Improvements focuses on continuous feedback, performance reviews, and 360-degree feedback. It enables organizations to facilitate regular feedback exchanges, conduct meaningful performance evaluations, and gather insights from multiple perspectives.
• Pros: Intuitive interface, customizable review cycles, feedback tools for managers and peers.
• Cons: Limited integration options with other HR systems, pricing may not be transparent.

TINYpulse

• Pricing: Price can vary according to the plan.
• Features: TINYpulse specializes in employee surveys, feedback tools, and recognition programs. It helps organizations gather feedback from employees, measure employee sentiment, and foster a culture of recognition and appreciation.
• Pros: Easy-to-use survey platform, pulse surveys for real-time feedback, peer recognition features.
• Cons: Pricing may not be transparent, limited advanced analytics capabilities.

Trakstar

• Pricing: Price can vary according to the plan.
• Features: Trakstar offers performance appraisals, goal setting, and competency management tools. It helps organizations conduct fair and effective performance evaluations, set and track goals, and identify skills gaps for employee development.
• Pros: Customizable performance review templates, 360-degree feedback options.
• Cons: Limited customization options, pricing may not be transparent.

Workday Human Capital Management

• Pricing: Price can vary according to the plan.
• Features: Workday HCM provides performance management, payroll, and HR analytics tools. It offers a unified platform for managing HR processes, including performance evaluation, compensation management, and workforce planning.
• Pros: Cloud-based solution with regular updates, intuitive interface, comprehensive HR features.
• Cons: High initial investment, may require extensive training for users, limited customization options.

Workfront

• Pricing: Price can vary according to the plan.
• Features: Workfront focuses on project management, resource management, and performance analytics. It helps organizations streamline project workflows, allocate resources efficiently, and track project performance against goals.
• Pros: Robust project management capabilities, real-time collaboration features, customizable dashboards.
• Cons: May require customization for specific industry needs, pricing may not be transparent.

Workiva

• Pricing: Price can vary according to the plan.
• Features: Workiva offers performance reporting, compliance management, and collaboration tools. It helps organizations streamline their reporting processes, ensure compliance with regulations, and facilitate collaboration among team members.
• Pros: Cloud-based platform for secure collaboration, workflow automation, audit trail functionality.
• Cons: Pricing may not be transparent, may require additional modules for advanced features.

Zoho People

• Pricing: Price can vary according to the plan.
• Features: Zoho People provides performance management, HR automation, and employee self-service tools. It offers a comprehensive HR solution for managing employee data, conducting performance appraisals, and automating HR workflows.
• Pros: Affordable pricing plans, customizable performance review templates, integration with other Zoho apps.
• Cons: May lack advanced features compared to more specialized tools, limited scalability for larger organizations.

Zugata

• Pricing: Price can vary according to the plan.
• Features: Zugata offers performance reviews, feedback tools, and career development features. It focuses on fostering a culture of continuous feedback, conducting meaningful performance evaluations, and supporting employee growth and development.
• Pros: User-friendly interface, customizable review cycles, career pathing tools.
• Cons: Limited integration options with other HR systems, pricing may not be transparent.

Conclusion

We conclude that using performance management tools is crucial for improving a company and helping employees grow. These tools make it easier for companies to review performance, communicate clearly with employees, and ensure everyone is working towards the same goals. They also help make decisions based on data, recognize good work, and find ways to improve. Investing in good performance management tools helps improve how individuals and teams work together and helps the company succeed in a competitive business environment.

Best Performance Management Tools – FAQs

What are performance management tools, and why are they important for businesses?

Performance management tools are software that help companies set goals, get feedback, and check how well employees are doing. They’re useful for businesses because they help make employees work better, more engaged, and in line with what the company wants to achieve. They give a structured way to manage performance and encourage continuous improvement.

How do performance management tools differ from traditional performance appraisal systems?

Unlike the old way of checking on performance, performance management tools have features like feedback right away, keeping track of goals, and looking at data. They help manage performance better by having regular talks between bosses and employees, checking in often, and seeing how employees are doing over time.

What key features should I look for when selecting a performance management tool for my organization?

When choosing performance management tools, think about features like setting and tracking goals, getting feedback (like 360-degree feedback), checking performance, using analytics and reports, connecting with other HR systems, and having an easy-to-use interface for everyone.

How can performance management tools help improve employee engagement and morale?

Performance management tools help make communication clear, recognize good work, and make sure individual goals match what the company wants to achieve. By giving regular feedback, coaching, and recognition programs, these tools help create a positive workplace, making employees more engaged and happy.