A performance management system is a system that helps an organization set clear and achievable goals for its employees based on the strategic goals of the organization. It enables HR personnel and managers to manage, track, evaluate and motivate the performance of employees effectively and efficiently. The best performance management system drives the employees to take responsibility and accountability of their goals and achieve them. It also helps HR manage the reward system for employees. It helps in the planning, assessment, implementation and review of all activities and tasks conducted by employees.
Top Performance Management Systems –
- Paylocity – Paylocity is an HR software that offers payroll, workforce management, human resource, talent management, benefits and engagements. Paylocity’s workforce management provides users with time and labor management, attendance monitoring, scheduling and reports and dashboards. Their engagement modules help employees submit surveys and peer recognition. Their performance management offers journals that simplify the review process using automated features that help track performance and give employees visibility into their progress year-round.
- ADP Workforce Now – ADP Workforce Now Performance helps companies develop and maintain a proactive and consistent approach to talent management. It makes performance reviews and achieving personal, team and company goals a positive and successful experience by using complete and easy tools.The software helps users gain a complete view of employee performance, track goals, spot trends, review templates, carry out succession planning, connect HR and employees etc.
- Lattice Performance Management – Lattice is a tool that provides continuous performance management. It allows users to conduct a 360-degree view review of employees by providing feedback from managers as well as peers. It offers 1:1’s to discuss performance and career progression of employees. It provides a platform for real time feedback so employees can improve.
- 15Five – 15Five lets users track the performance of their team via a easy to use dashboard. 15Five has simple tools that not only motivate employees but also keep them engaged daily. The software offers a check in feature that allows employees to mention how they found the work for the week. This helps management to plan and allocate tasks accordingly. It also helps organization retain talent. It also helps the team to be aligned to the same goals.
- UltiPro – UltiPro helps users assess employee performance and gather feedback on an ongoing basis to ensure productivity and quality outcomes throughout all levels of the organization. It provides a high level of visibility on goals and performance of employees. It helps HR track key metrics and recognize and rate employee performance.
- Workday HCM – Workday HCM offers services for small and mid-sized businesses.Their talent management tracks key metrics of employees and evaluates who should be developed for leadership roles based on performance. It also helps users ensure the team is working towards the goals of the organization.
- BambooHR – BambooHR Performance Appraisal software offers higher engagement, more accurate reflections on employee performance, and more chances to address problems in the moment.It providesdetailed performance reports, peer feedback and automated reminders for reviews.
- Paycom – Paycom align the goals of a workforce with the goals of the organization by empowering employees to complete self-reviews and manager reviews. It helps HR build a library of positions with required competencies and salary grades and group positions by similar skills and responsibilities. It assigns performance goals by position, family, department or employee and tracks the process companywide from a dashboard.
- Reflektive – Reflektive helps organizations set goals that drive employees to optimize business execution through their performance. It offers a platform that is provides regular, productive conversations that increases employee engagement and 1:1 meetings.
Other Performance Management Software includes 360 Degree Feedback, All Elements, Anaplan, APS Core HR Solution, Aspiration, Betterworks, Bridge, Culture Amp, factoHR, Kazoo, Kronos Workforce, Mux, Namely, Oracle PeopleSoft, OrangeHRM, Quantum Workspace, Saba Cloud, SurveySparrow and Zoho People.
Need for a Performance Management System
- Ensures that team goals and organization goals are in alignment.
- Enables HR and managers to retain talent.
- Allows a smooth process for conducting appraisals as all data is available.
- Enables real time feedback to help employees perform better and stay motivated.
- Contributes to employee satisfaction within the organization.
- Enables HR and managers to review goals on a timely basis to ensure they are relevant.
- Helps identify resources for rewards and recognitions or promotions.
- Provides employee with a clear career path.
- Helps improve bottom-line.
- Helps develop leadership skills and management skills and creates a productive culture within the organization.