Top 10 Employee Performance Management Software — in 2024

The key to achieving success in any business lies in the hands of its employees. Therefore, if you want to fully unleash the potential of your company, it's essential that you focus on empowering your workforce.

Fortunately, many high-quality employee performance software options are available in the market. They can:

• streamline goal setting by offering a centralized location where business objectives can be documented, tracked, and updated over time
• facilitate regular feedback and evaluations between managers and employees
• create mentoring opportunities for employees with development planning.

Here are ten of the best employee performance management software solutions expected to dominate the market in 2024.

TMetric

Time tracking insights for employee performance

TMetric is a time tracking software that goes beyond monitoring hours. By leveraging time tracking data, businesses can gain valuable insights to improve employee performance.

How TMetric Strengthens Performance Management

• Time Tracking and Productivity Monitoring: TMetric tracks time spent on projects and tasks, offering insights into individual and team efficiency. You can identify trends, potential bottlenecks, and areas where employees excel.
• Project Reporting: Analyze project reports to see how well deadlines are met, resources are allocated, and how individual contributions impact project timelines.
• Time Off Management: Simplify the process of requesting time off using TMetric PTO Module, which allows staff members to submit applications, monitor their remaining balance, and obtain manager approvals.
• Identify Skill Gaps and Strengths: By analyzing time spent on specific tasks, you can identify employees' strengths and weaknesses. This can guide training programs and project assignments, fostering skill development.
• Improved Client Billing: Accurate time tracking allows for fair and transparent client billing based on actual work hours. This builds trust and strengthens client relationships.

This allows you to move beyond simply measuring "hours worked" to a more comprehensive evaluation that considers quality, engagement, and overall contribution to project success.

How to Use TMetric Effectively for Performance Management

• Set Clear Expectations: Combine time tracking data with clear project goals and expectations. Analyze trends in relation to those goals, not just raw hours.
• Focus on Efficiency, Not Just Hours: Use time data to identify areas for improvement in workflow and processes, not just to monitor individual hours.
• Open Communication: Discuss time tracking data openly with employees, focusing on improvement and optimization, not punishment.
• Integrate with Other Tools: Consider integrating TMetric with project management tools for a more holistic view.

While time spent doesn't directly translate to quality work, another TMetric strength lies in its ability to connect with a wide range of other tools (over 50 integrations!), including Asana, Trello, or Jira. By integrating these various tools with TMetric, you can gain valuable insights into:

• Quality of Work: Correlate time spent with task completion status and feedback from project management software to understand how efficiently and effectively tasks are completed.
• Employee Engagement: Analyze time tracking data alongside employee feedback to identify potential issues with workload, clarity of objectives, or overall engagement. This allows for proactive measures to address concerns and improve employee satisfaction.
• Skill Development: Integrate with learning management systems like Udemy for Business or Coursera for Teams. Track time spent on training alongside time spent on tasks to assess how well training translates to improved efficiency and performance.

By connecting TMetric with other tools focused on project management, performance reviews, and employee engagement, you can gain a richer understanding of your workforce's capabilities and potential.

💲 Available on the Free Plan for teams of up to 5. To unlock complete employee management functionalities, we recommend upgrading to the Professional Plan for $5 monthly.

BambooHR

Get results, not paperwork

BambooHR is a strong choice for organizations seeking a user-friendly and affordable solution to streamline core performance management processes. It facilitates goal setting, feedback exchange, and employee performance tracking.

BambooHR offers core performance management features:

• Employee Data Administration: BambooHR provides a safe and unified repository for managing and accessing all employee-related data, making it conveniently available in one location.
• Benefits Management: BambooHR facilitates benefit administration by enabling you to oversee enrollment, eligibility, and communication related to all of your organization's benefit plans.
• Approval Process Automation: With BambooHR, approval processes for different tasks such as leave requests or hiring documents are automated, leading to seamless and effective operations.
• Onboarding and Exit Management: Easily handle the transitions of incoming and outgoing employees by streamlining paperwork, introductions, and access provision.
• Report Generation and Analysis: Leverage BambooHR's reporting and analysis capabilities to derive meaningful insights about your workforce, generating reports based on critical measures like worker demographics, attrition rates, and time-off utilization to guide informed strategic choices regarding human resources management.

The platform is accessible on desktops and mobile devices, promoting on-the-go access for feedback and goal tracking.

💲Companies with 20 or fewer employees pay a fixed monthly fee. Reach out to a vendor to request a price estimate.

Ajoft

Simplify employee performance management. Amplify business success

Ajoft HRMS is a unified system that enables businesses to manage various aspects of employee performance, including maintenance of staff information records, handling payment processing, and conducting performance evaluations.

It features:

• Real-time Feedback: Ajoft enables on-the-spot appraisal and feedback, which can result in increased employee engagement and better job performance.
• 360-Degree Feedback: It can gather feedback from managers, peers, and clients, bringing a holistic view of an employee's performance.
• Goal Alignment: Setting individual and team goals aligned with organizational objectives can ensure everyone is working towards the same purpose.
• Automated Reviews: Ajoft offers a fully automated review process, potentially saving HR managers time and effort.
• Notifications: Automatic email and SMS notifications keep employees and managers informed throughout the review cycle.
• Incentive Management: The system links performance reviews to incentives and appraisals.

💲Contact a supplier for detailed pricing information.

Zoho People

360-degree feedback capabilities for comprehensive employee evaluation

Zoho People emerges as a compelling EPM solution with its user-centric design, robust functionality, and competitive pricing.

Zoho People offers a robust set of features for EPM, including:

• Performance Tracking: Real-time progress monitoring through key result areas (KRAs).
• 360-Degree Feedback: Get continuous feedback from managers, peers, and even self-evaluations for a well-rounded view of employee performance. Multi-rater feedback helps eliminate manager bias and ensures fairer evaluations.
• Customized Appraisals: Design performance reviews tailored to your organization's needs, including timelines, succession planning and evaluation methods.
• Data-Driven Evaluation: Track goals, competencies, and other relevant data to make informed performance decisions.

💲The employee performance management features are available on the Professional Plan for €2 per user monthly.

PerformYard

Granular permissions and controls to tailor the user experience

Struggling with clunky spreadsheets and outdated review processes? Try Perform Yard, a cutting-edge employee performance management software designed to optimize productivity, engagement, and business growth.

Its functionality includes:

• Goal Setting and Tracking: The intuitive goal-setting interface allows clear communication, progress updates, and real-time visibility into goal achievement.
• Ongoing Feedback and Coaching: Gone are the days of annual performance reviews! Perform Yard facilitates ongoing feedback and coaching through its seamless feedback feature.
• Performance Reviews and Evaluations: Perform Yard offers customizable review templates and automated reminders. Managers can easily conduct comprehensive evaluations, document strengths and areas of improvement, and generate insightful performance reports.
• 360-Degree Feedback: Perform Yard enables organizations to gather comprehensive feedback from multiple sources through its 360-degree feedback feature.
• Learning and Development: The platform offers personalized learning paths, training modules, and resources to enhance employee skills and competencies.

💲The cost of service ranges between $5 and $10 per user monthly depending on the features. Please note that this information might be subject to change; therefore, potential clients should confirm current pricing details with a sales team.

PeopleForce

Advanced analytics and reporting for deeper performance insights

PeopleForce is a cloud-based performance management solution designed to help organizations manage their employees' goals, reviews, and development.

It features:

• Goal Setting & Tracking: The system enables users to set clear, measurable goals and track progress in real time, fostering accountability and success for individuals and teams.
• Continuous Feedback: Managers can offer constructive comments while employees can share successes, challenges, and ideas for improvement.
• Review Cycles: Customers can design customized review cycles based on business needs by choosing from various templates, such as annual, semi-annual, or quarterly reviews, and tailor questions to assess specific competencies or skills.
• Onboarding & Development Planning: PeopleForce simplifies navigating transitions. It also helps users pinpoint areas where employees need to develop, recommend suitable training programs, and track their progress as they complete them.
• Reporting & Analytics: Measure engagement levels, identify skill gaps, and make data-driven decisions to optimize talent management strategies.
• Mobile Accessibility: Stay connected with your team anytime, anywhere using a mobile app (available for iOS and Android devices) to complete tasks, view reports, and collaborate on projects even when away from the office.

💲On the Standard Plan, the monthly cost is $2 per user.

Perdoo

Supports OKR (Objectives and Key Results) methodology for goal setting

Perdoo offers a modern, user-friendly solution for managing employee performance. This software streamlines the entire process, making it easier for managers and employees to provide and receive feedback to help businesses achieve exceptional returns.

Strengths:

• Goal Setting and Tracking: Perdoo excels at defining objectives, key results, and linking them to daily tasks.
• Alignment and Transparency: Perdoo offers a multitiered system of goal setting for a company, team, and individual.
• Progress Tracking and Check-ins: Regular check-ins within Perdoo keep managers and employees on the same page. Employees can track progress on their goals and receive feedback, while managers can identify roadblocks and offer support.
• Focus and Prioritization: By its nature, OKR methodology encourages prioritizing objectives and focusing on what truly matters. This can translate to improved employee performance by eliminating distractions and ensuring effort is directed towards impactful tasks.

💲Available on the Free Plan with access to basic features. On the Premium Plan, the cost is €8 per user, per month

Weekdone

Team progress and productivity tracking through weekly check-ins

Weekdone positions itself as a leader in OKR (Objectives and Key Results) software, aiming to assist companies in setting clear goals and tracking progress towards them. But its features extend beyond just OKRs, making it a valuable tool for employee performance management.

Goal Setting and Tracking:

• OKR Framework: Weekdone uses the OKR methodology, allowing you to define company, department, team, and individual goals to create a transparent hierarchy connecting individual efforts to company objectives.
• Weekly Planning: Employees can outline their weekly plans, ensuring alignment with OKRs. This fosters focus and clarifies priorities.
• Progress Tracking: Weekdone facilitates regular progress updates, keeping everyone informed and accountable.
• KPIs and Dashboards: Define Key Performance Indicators (KPIs) to measure success towards objectives. Weekdone provides real-time dashboards for visualizing progress across the organization.
• 1-on-1s and Recognition: Weekdone facilitates private one-on-one conversations for deeper discussions. It also allows for public recognition of achievements and boosting employee morale.

How to Boost Employee Morale with Time Tracking

Tracking employee time can actually boost morale by providing transparency, accountability, and fairness. Discover how to effectively implement time tracking to improve employee morale and productivity in your workplace.

TMetric Blog - Time Tracking Tips and Productivity HacksAlla Chernets

💲Free for teams of up to 3. On paid plans, prices start at $10.80 per user

Engagedly

Social recognition features to foster employee engagement

Engagedly offers a suite of features to streamline performance management and empower your workforce:

• Effortless Performance Reviews: Create custom templates to simplify tracking progress, setting goals, and providing feedback for your employees.
• Collaborative Goal Setting: Work together with employees to define individual and organizational goals, track progress, and measure achievements.
• 360° Feedback: Gain a comprehensive view of employee performance through anonymous peer, manager, and self-assessments.
• Continuous Feedback Culture: Encourage open communication and accountability by allowing employees to give and receive feedback in real-time.
• Learning & Development Integration: Connect Engagedly with your LMS to provide seamless access to training resources and development opportunities for employees.
• Recognition & Appreciation: Motivate your team by enabling managers and colleagues to acknowledge achievements and foster a positive work environment.
• Data-Driven Decisions: Make informed choices about talent management with Engagedly's comprehensive analytics and reporting tools.

💲Users can get started with our Starter Plan for just $3 per user, per month. This plan is ideal for teams with at least 50 users

Lattice

Continuous feedback loops and check-ins between managers and employees

Lattice is a cloud-based people management software designed to streamline and improve employee performance, which features:

• Collaborative Goal Setting: Managers and employees can work together to define goals aligned with company objectives.
• SMART Goal Framework: Lattice encourages the creation of Specific, Measurable, Achievable, Relevant, and Time-bound goals, ensuring clarity and focus.
• Streamlined Reviews: Lattice replaces traditional paper-based reviews with a user-friendly online platform, saving time and resources.
• Continuous Feedback: The software fosters a culture of ongoing feedback through features like check-ins, pulse surveys, and 360-degree feedback. This allows for more timely and relevant performance insights.
• Performance Calibration Tools: Lattice helps managers ensure consistency and fairness in performance evaluations by providing tools for calibration discussions.
• Performance Analytics: Lattice offers data and reports to analyze trends, identify top performers, and uncover potential areas for improvement. This data-driven approach allows for informed decision making.

💲You can get Performance Management, OKRs, and Goals all together for $11 per person, per month

How to Choose the Right Employee Performance Management Software for Your Business

Choosing the right employee performance software can be challenging, but considering these five key questions can help you make an informed decision.

✅To start, figure out who will be utilizing the software frequently. This will allow you to pinpoint crucial features, whether they cater more towards making things user-friendly for managers or simplifying tasks for employees.

✅Next, take into account both your financial constraints and the safety of your employee data when selecting an appropriate option. Keep in mind that prices vary based on available features, so finding the right balance between cost and functionality is essential.

✅Finally, arrange a demo to observe the software in action and assess its suitability for your company.

Addressing these factors contributes to choosing employee performance software that streamlines processes and aligns with your organizational objectives while ensuring robust data protection.