What is performance assessment software?
Currently, only about 54% of companies provide an annual review. Performance appraisal software helps to solve this problem by including continuous feedback, goal setting and performance tracking. Other statistics show that when employees receive consistent and accurate feedback, 68% of them feel more fulfilled in their jobs.
Performance appraisal software, which is either a subset of performance management systems or a standalone product, automates the process of evaluating employees on a regular basis. It enables the company to give employees unbiased, unambiguous and consistent feedback to help them develop skills needed by the company. The performance appraisal system helps employees identify their strengths and weaknesses and allows management to develop appropriate training or coaching for them.
What to look for in choosing performance appraisal software
Here are several important features that can be found in good performance appraisal software:
1. Continuous performance review
When your company adopts a continuous performance appraisal process, it encourages engagement with employees and enables them to improve and develop key skills. It also helps managers coach employees and identify and groom top performers for advancement.
2. Flexible review forms
Whether you’re doing a straightforward check-in review or a deeper, more comprehensive review, performance assessment software should provide you with the forms to complete either function. This is key to providing a consistent performance review process that avoids bias and ambiguity.
3. 360-degree feedback
This 360-degree process, which has become popular in recent years, provides employees with anonymous feedback from a variety of sources, including fellow employees, managers who interact with them and even customers. Since this picture of the employee’s performance comes from a variety of perspectives, it creates a better picture of how the employee is doing and allows employers to offer targeted coaching if needed.
Performance appraisal systems let employers motivate their employees by celebrating their successes on a regular basis. When employers are better able to judge performance, they can reward improvement with increased pay, better compensation or long-term incentive plans. Employees are more motivated when they know their efforts will be rewarded.
Performance appraisal software
- Bamboo HR
- Cornerstone Performance
- Mettl 360 View
- Performance Culture
- Primalogic 360
Price: 7Geese starts at $10 per user per month for the Align platform. The Perform platform is $14 per user per month, and the Growth platform costs $19 per user per month. Each step up includes more of the features offered by 7Geese. It should be noted that there is a $3,000 minimum on any platform, which is billed annually.
- 7Geese offers a free demo.
- It offers 360-degree feedback, including a self-service portal for employees, a question library and tools for taking surveys and giving feedback.
- The software’s Employee Recognition feature allows everyone to check how they’re progressing with the goals they’ve been assigned.
- The Employee Recognition feature also permits peer-to-peer recognition for when other employees recognize someone’s doing a good job.
If you run an SMB, it’s worth looking at 7Geese. The price is reasonable, and the platform is built to help organizations with 100 to 500 employees. Users praise it as a great tool for employees to help them with motivation and track their progress throughout the year by integrating with its Objectives and Key Results (OKR) feature.
Price: BambooHR operates on a quote-based system. It has two platforms: Essentials and Advantage. Pricing is determined by the number of employees using the system and the additional features bundled into the platform. Discounts are also available when paid on a yearly basis and for nonprofits.
- BambooHR was chosen as a Top Appraisal Software Product by FinancesOnline.
- Along with thoughtful performance appraisals, the software specializes in administering benefits
- BambooHR offers a free trial and a mobile app.
Using BambooHR lets you analyze the actions of individual employees every day. It then uses this information to compare employees’ performances and find top performers. This not only allows you to reward them with increased pay or incentives but also helps identify trends that can aid everyone in the company.
Price: Bridge by Instructure offers three pricing platforms: Learning at $3 per user per month, Learning and Performance at $9 per user per month and Learning, Performance and Engagement at $12 per user per month. As you move to a new platform, you’re able to use more of the features offered by Bridge. All fees are billed annually.
- Bridge is a reasonably priced option for SMBs.
- Bridge offers a free trial.
- The software features 360-degree feedback, peer appraisals, skills assessment, self-appraisals and review cycle tracking.
A cloud-hosted software created by Instructure, Bridge is an employee-structured talent development program with the goals of nurturing employees and helping them improve key skills. One way it does this is through the Course Authoring Module that allows a writer to craft a course for a specific group of employees. Bridge can integrate with your company’s existing CRM and ERP programs.
Price: ClearCompany is quote-based, and you’ll need to contact the company to get a better idea of their pricing structure. A free demo is available.
- ClearCompany software is designed to recruit, train, engage and retain employees.
- The Kudo feature, which integrates with Slack, allows employers to reward employees.
- ClearCompany is used most by SMBs in the education, health care and hospitality fields.
- ClearCompany is not intended to be used by larger companies and is specifically aimed at the North American market.
Although they ask potential customers to contact them for a quote, ClearCompany has a flat fee structure that allows you to conduct limitless performance reviews as often as needed, without having to worry about additional fees. ClearCompany originally debuted in 2004 as HRM Direct, one of the first SAAS providers in the performance and talent management fields. It rebranded in 2013 as ClearCompany.
Price: Cornerstone Performance has a quote-based system and offers a free demo. Contact Cornerstone for more information on its pricing structure.
- Cornerstone Performance can be used by anyone but is well-suited for medium-sized companies that have 250+ employees.
- Its performance appraisal tools include 360-degree feedback, self and peer appraisals, individual development plans and continuous performance tracking.
- Cornerstone Performance is one of the older performance assessment software tools, debuting in 1999.
- Support for Cornerstone Performance software is available in English, Spanish, German, Japanese, Portuguese, Chinese (Simplified), Dutch, German and Italian.
Cornerstone Performance’s appraisal software, built into its performance management system, allows companies to create transparent career paths with measurable goals and continuous feedback for employees. This allows companies to place employees in jobs for which they are specifically qualified or to help them improve their skills using the Skills Matrix. Cornerstone Performance also offers a platform geared for SMBs.
Price: Engagedly uses a quote-based fee structure. Contact the company for more information. A free demo is available.
- Engagedly aims to work with companies of any size, from 50 employees to 5,000, but it’s specifically appropriate for service organizations with knowledge workers.
- Engagedly’s performance appraisal features include 360-degree feedback, peer and self-appraisals, a self-service portal, continuous performance tracking and weighted performance measures.
- Engagedly uses a Rewards Tool that highlights and rewards employees for actions that meet your company’s goals.
- The company receives high marks from users for customer support.
Engagedly is a modular platform designed to improve your communication with your workers by providing them with tools for praise, real-time feedback, goal management and peer reviews. Users have praised the software’s ability to meaningfully survey employees to help shape a company’s goals. Engagedly also uses gamification, badges and rewards to motivate employees.
Mercer Mettl 360View
Price: Mercer Mettl 360View does not make its pricing public but instead bases its quotes on the usage and the features requested, so you only pay for what you require.
- Mercer Mettl 360View offers a free demo.
- The software features 360-degree performance appraisal and feedback as well as succession planning, customizable surveys and training needs identification.
- It’s designed for SMBs and may also be used by teams within large organizations.
- FinancesOnline selected Mettl 360View as one of its Top 20 Performance Appraisal Software.
Mettl uses customizable surveys to collect feedback from managers, employees and clients. This allows your company to create a holistic picture of an employee, determine their training needs and identify top performers for succession planning. Mettl 360View wins high marks from customers for its intuitive design and ease of use.
Price: Performance Culture’s website features a sliding scale that allows you to input the number of users and see how much it will cost you monthly. It will also tell you how much you can save by paying annually.
- Performance Culture offers a free demo.
- It features an appraisal app.
- It includes 360-degree feedback, continuous performance tracking, peer and self-appraisals and customizable survey/feedback templates
Performance Culture’s pricing structure means that it can be used by SMBs or larger organizations. While its software is like other performance appraisal tools, one unique feature is that Performance Culture also provides training for managers so that they can improve their coaching skills. Performance Culture has also received high marks from users for customer support.
Price: Primalogik uses a sliding scale to let customers estimate their costs based on the number of users. For instance, 100 users costs $379 per month. If you subscribe annually, you pay a flat fee of $3,790, which includes two free months.
- Primalogik 360’s target market is SMBs in any vertical.
- It may be accessed on any computer operating system or on tablets.
- This software offers a free trial that can be accessed by up to 10 users for a period of 30 days. It includes every module in Primalogik.
Primalogik 360 allows managers to conduct comprehensive performance appraisals or regular check-ins with employees. The software also combines these performance appraisals with the 360-degree feedback process and engagement surveys to gain a wider perspective of employees’ ability to perform their jobs, and if they have the potential to advance in your company. Primalogik also balances assessment bias by examining each manager’s rating style to create a fairer appraisal system across the company.
Price: ProfitFocus offers a free version and a 30-day free trial. The free version is for one user with limited features. You can also schedule a free demo with the company. ProfitFocus charges $7 per user per month if billed annually for its Growth plan. If billed monthly, the price rises to $9 a user. If you’re interested in an Enterprise solution, you’re encouraged to contact the company.
- It’s primarily an OKR software solution.
- With this tool, you can schedule one-on-one meetings with employees.
- It offers a 360-degree feedback process, employee self-assessments and goal setting.
ProfitFocus uses software tools like one-on-one meetings, a 360-degree feedback process, employee self-assessments and goal setting to manage the performance appraisal process from beginning to end. The performance management system enabled by using ProfitFocus motivates employees and managers to talk to each other regularly and helps employees receive meaningful feedback. Clients praise the company for its excellent customer support.
Price: ReviewSnap works with an annual subscription fee with three pricing platforms. Customers interested in learning about ReviewSnap’s pricing structure should contact the company for a quote.
- ReviewSnap offers a free demo
- It was selected as one of FinanceOnline’s Top 12 Performance Assessment Software of 2020.
- The company’s performance management systems can be used by SMBs and large enterprises.
- ReviewSnap is accessible on any device with an internet connection.
Performance assessment is only one feature of ReviewSnap’s software, which also includes compensation management and learning management. ReviewSnap’s performance assessment features include 360-degree feedback and self-assessment tools for all employees. ReviewSnap also integrates with any SAAS app that uses a flat file or web services, enabling you to integrate the software with any messaging platform.
Price: SutiHR starts at $4 per user per month, but if you want to make the best use of its performance assessment features, you’ll need to add extra modules. These cost an additional fee, normally $1 per module per user per month (although some modules are $1.50 or $2 a month). Discounts are available, but there is a $150 a month minimum.
- SutiHR offers a free trial.
- It’s a reasonable price option for SMBs
- SutiHR can integrate with your company’s financial software, such as payroll.
- This tool is highly customizable.
SutiHR is a modular solution that allows you to decide which of its features fits your company the best. Along with performance assessment, there are modules for payroll, time and attendance, employee self-service and onboarding. Although some of its administration tools have been described as clunky by users, SutiHR received good marks for customer support.
Price: Trakstar’s pricing structure is based on the number of your employees. To get a more complete idea of how that works, contact the vendor.
- Trakstar was selected as one of FinanceOnline’s Top 12 Performance Appraisal Software of 2020. It also won an Expert’s Choice Award in 2019.
- Trakstar’s software package offers a goal-tracking module, 360-degree feedback and a succession planning module.
- Its flexible pricing structure offers scalability to SMBs who may be starting but want to invest in a performance assessment system.
Trakstar’s software package offers unlimited online reviews, which means managers and HR personnel can craft a continuous ongoing review process with employees. All performance review functions are automated and found in one location. The result is accurate and unbiased reporting on employee performance. Trakstar integrates with other third-party solutions, including Microsoft Office.
Price: Zoho People has five different pricing platforms that start at $0.83 per user per month for the essential HR platform, all the way up to $8 per user per month for the PeoplePlus platform. Performance appraisal features start at $2.50 per user per month on the Premium platform. If you have more than 500 employees, Zoho People encourages you to ask for a quote. All fees are billed annually.
- Zoho People offers a free 30-day trial, and no credit card is required.
- This tool is part of the complete ZoHo suite of business tools.
- It’s available in American or UK English versions as well as Arabic, Dutch, French, Chinese, Hebrew, German, Korean, Italian, Russian, Vietnamese, Swedish, Spanish, Turkish, Polish, Serbian and Portuguese.
Zoho People is a complete HR solution that provides a robust performance assessment module, including 360-degree continuous feedback, employee self-assessment and anonymous feedback. All these features and others can be selected or deselected at any time. This software is a reasonably priced solution for SMBs.
Performance assessment software FAQs
What is the difference between a performance management system and performance assessment software?
A performance management system is part of your company’s HR program and can include features such as onboarding, compensation management and benefits. Performance assessment software can be part of a performance management system or a standalone product. Performance assessment is designed to improve employee performance through continuous feedback.
Why is it important for businesses to use performance appraisal tools?
When a company invests in performance appraisal tools, it signals to employees that the company wants them to succeed. It may increase company morale and helps employees understand what key skills they have and how they can improve those skills. It also gives companies a chance to acknowledge when employees do a good job.
How can performance appraisal tools help companies avoid problems?
When a company uses performance appraisal tools, it helps them to identify employees who are having problems and take steps to help them improve their performance. With regular check-ins, it’s easier for managers to spot problems, such as an employee who needs training or lacks motivation. It also allows companies to address employee dissatisfaction before it leads to expensive turnover.