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Rippling

Rippling gives businesses one place to run HR, IT, and Finance. It brings together all of the workforce systems that are normally scattered across a company, like payroll, expenses, benefits, and computers. So for the first time e...Read more about Rippling

4.9 (3033 reviews)

189 recommendations

isolved

isolved is the most-trusted HCM technology leader, providing the best combination of software and services to meet the needs of today’s People Heroes – HR, payroll, and benefits professionals. From talent acquisition to workforce ...Read more about isolved

3.9 (501 reviews)

74 recommendations

BambooHR

FrontRunners 2024

Instead of using fragmented spreadsheets, limited or clunky software, and physical paper, BambooHR helps you centralize your data and automate the way you complete key HR tasks. As you hire, onboard, and pay your employees, every ...Read more about BambooHR

4.6 (2739 reviews)

68 recommendations

WorkforceHub Time & Attendance

WorkforceHub is a cloud-based time, attendance, and leave management system for small to mid-size businesses. This software can capture time data from web-based clocks or physical clocks for employees onsite, mobile, and working a...Read more about WorkforceHub Time & Attendance

4.4 (30 reviews)

59 recommendations

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ClearCompany

FrontRunners 2024

Since 2004, ClearCompany’s end-to-end Talent Management platform has enabled thousands of companies to maximize talent by empowering people at every stage of the employee journey. ClearCompany integrates data-driven best practices...Read more about ClearCompany

4.4 (315 reviews)

48 recommendations

WorkforceHub

WorkforceHub is a cloud-based time, attendance, and leave management system for small to mid-size businesses. This software can capture time data from web-based clocks or physical clocks for employees onsite, mobile, and working a...Read more about WorkforceHub

3.0 (3 reviews)

48 recommendations

Factorial

Factorial is a cloud-based human resources (HR) solution that caters to small businesses across various industry verticals. Key features include a time-off manager, an organisational chart generator, a document manager and more. ...Read more about Factorial

4.5 (252 reviews)

37 recommendations

Dayforce HCM

Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, ...Read more about Dayforce HCM

4.3 (948 reviews)

31 recommendations

Paylocity

Paylocity is a cloud-based human capital management (HCM) platform that provides human resources and payroll management tools to help businesses manage core HR functions. Key features include payroll processing, benefits administr...Read more about Paylocity

4.3 (825 reviews)

30 recommendations

Collage HR

Collage is a cloud-based human resources (HR) and benefits management platform built for the needs of small and midsize businesses. Collage also digitizes group benefits enrollment and can sync with any insurance provider in Canad...Read more about Collage HR

4.2 (52 reviews)

23 recommendations

PayPro Workforce Management

Over the past 30 years, Paypro has grown into a full service Human Capital Management provider, helping its clients in all aspects of payroll, time and labor management, human resources and employee benefits. Paypro has built its ...Read more about PayPro Workforce Management

4.7 (10 reviews)

23 recommendations

Humi

Humi is a best-in-one HR, payroll, and benefits software solution for Canadian businesses. A flexible platform for all of your people operation needs, Humi stores employee data and streamlines tasks related to onboarding, time off...Read more about Humi

4.4 (102 reviews)

19 recommendations

Netchex

What is Netchex? Netchex is a cloud-based human resource (HR) and payroll management solution designed for businesses of all sizes. Key features include recruiting and onboarding management, performance management, payroll managem...Read more about Netchex

4.5 (145 reviews)

18 recommendations

Performance Pro

Performance Pro by HR Performance Solutions is a cloud-based performance appraisal solution for HR professionals. Performance Pro is customizable and allows users to align the solution with company’s strategic goals. The system ca...Read more about Performance Pro

4.5 (186 reviews)

17 recommendations

Motivosity

Did you know that 74% of companies rely on one annual survey to measure their culture and employee engagement? However, the sentiment of your workforce can change drastically within those 365 days. Through our MV6 standardized sur...Read more about Motivosity

4.8 (996 reviews)

13 recommendations

PurelyHR

PurelyHR is powerful modular HR software for small to medium-sized businesses. Our cloud-based platform simplifies your everyday HR tasks including leave management, employee directory and onboarding, time tracking, performance ma...Read more about PurelyHR

4.5 (326 reviews)

11 recommendations

Trakstar Perform

Learn how leading mid size companies use Trakstar to quantify the soft side of HR. Uncover better prospects, train top performers, reduce employee turnover. Connect hiring, performance and learning to develop an engaged and produc...Read more about Trakstar Perform

4.4 (285 reviews)

11 recommendations

Bob

FrontRunners 2024

Bob is a modern HR platform for modern HR challenges. Simplify complexity Bob lets you manage people globally and thrive through change. From culture and connections to performance and payroll, Bob is the HCM built for everyone i...Read more about Bob

4.6 (137 reviews)

11 recommendations

Workzoom

Workzoom is the all-in-one HR, Workforce, Payroll, and Talent solution that consolidates and automates your people management. Bring your whole team together with a centralized hub for accessing personal information, company updat...Read more about Workzoom

4.6 (15 reviews)

11 recommendations

Quantum Workplace

FrontRunners 2024

Quantum Workplace helps organizations make work better every day with its employee success platform. We empower organizations to understand employee experience, inspire impact, and create a magnetic culture that attracts and retai...Read more about Quantum Workplace

4.7 (59 reviews)

9 recommendations

Buyers Guide

Last Updated: March 16, 2023

Employee reviews are arguably the best opportunity an organization has to energize and motivate its employees. Managers get a chance to sit down and have a one-on-one conversation with employees, as well as give and receive 360-degree feedback. For many organizations, though, the process of scheduling, executing and documenting reviews can be incredibly arduous. Relying on traditional methods, managers and human resources (HR) professionals are left with countless paper forms and records to review and file, which takes away from time and energy spent on the review itself. 

There are more than 100 different employee performance management software solutions available for modernizing and automating the evaluation processes in an organization. With so many options to review, it’s no small task to find the best fit for your organization. That’s why we have written this buyer’s guide to help you identify the right solution.

Here’s what we’ll cover:

What Is Performance Management Software?

What Type of Buyer Are You?

Benefits and Potential Issues

Market Trends to Understand

The Vendor Landscape

What Is Performance Management Software?

Performance management software automates the cumbersome—and often time consuming—task of regularly evaluating employees. With the right performance management software in place, the challenge of strategically developing your organization's workforce becomes a collaborative effort with tangible results. These systems enable employers to focus on identifying top talent and developing employees to better fit the needs of an organization.

Performance management software also makes it easier for managers to track employees’ goals and performance throughout the year, and then share this information with authorized users across the organization.

The HR software market is growing, and the emergence of new strategic companies has pushed all vendors to increase the pace of innovation. One major change in HR and talent management software has been the move toward cloud computing. Cloud computing, also known as Software as a Service (SaaS), is a model in which the software vendor hosts the application on the web, making it easy for you to securely access the application through any Web browser.

Ultipro-employee-performance-management-system-dashboard-screenshot

Ultipro employee performance management system dashboard screenshot

One key benefit of Web-based software is that users can access the system from anywhere. With this model, employees can log in and perform self reviews, view past reviews, view recent achievements against goals set and schedule reviews without bothering the busy folks in HR. Managers can set reminders, run performance reports, flag top talent for advancement and then easily share this information among departments. Traditionally, these activities were more limited to the HR department, where a much smaller set of employees had access to older client/server systems.

Employee review software functionality includes:

  • Performance notes

  • Goal tracking

  • Information sharing

  • Stack ranking

  • Electronic record-keeping

  • Interdepartmental communication

  • Real-time reporting

  • Performance rating

What Type of Buyer Are You?

Before reviewing employee performance evaluation software, it's important to assess what type of buyer you are. We believe that 90 percent of buyers fit into one of these categories:

Best-of-breed buyers. These buyers work for organizations looking for ways to specifically enhance their review processes. The organization may already have an HR system in place, but needs a better solution with measurable results to monitor, track and review employees. These buyers want straightforward, simple-to-use tools that can be implemented into their complex HR operation with minimal interruption. High functionality is key, and best-of-breed performance appraisals systems are the best place to start.

Integrated suite buyers. These buyers work for organizations where some of the HR processes have become disjointed and inconsistent. Their current processes for performance reviews may be outdated, and they struggle to easily identify and cultivate key performers. These buyers are interested in improving existing human resources systems across the board to create a more efficient, effective process for both managers and employees. Integrated HR suites with a robust portfolio of applications, including well-developed employee evaluation systems, offer the best solution for these buyers.

Cost-conscious buyers. These buyers work for organizations looking to roll out a modernized performance appraisal process that improves employee engagement and motivates their talent to its fullest potential while keeping costs low. Although there are inexpensive on-premise options available, the SaaS model—which runs on a monthly service fee is changing the industry. That means organizations with more limited resources can now take advantage of feature-rich performance appraisal solutions for less.

Benefits and Potential Issues

Thanks to recent developments in the employee evaluation software market, updating processes to engage, energize and retain talent is less daunting. It’s just a matter of performing thorough performance management software comparisons and finding the right system that can handle your unique needs today and in the years to come. By implementing a new system and modernizing your approach to reviews and workforce development, your organization has a great opportunity to build culture, while attracting and retaining top talent.

Many managers lack the time required to effectively execute annual reviews. Reviewing paper records, submitting forms and manually tracking performance throughout the year can be a hassle. Consequently, organizations often miss out on the full value of the information generated in the review process. Not to mention, development and retention strategies are difficult to enforce, and top talent can slip through the cracks. By failing to take advantage of the performance appraisal software available to them, organizations run the risk of hurting their bottom line.

Market Trends to Understand

When researching employee performance review software, there are a number of market trends you should understand:

Software-as-a-Service. Cloud computing has changed the way we do HR. SaaS provides a user-friendly, Internet-based option for adding new functionality and accessibility for your employees. By giving them access to employee evaluation solutions anywhere they have Internet access, SaaS connects all parties involved, making the review process much more collaborative. With SaaS, HR solutions are also easier to implement than ever, which means faster adoption and improved user accessibility. Although the best-of-breed SaaS options offer best practices and allow for configuration to meet your needs, it's important to note that specific customization options can be limited.

Consolidation. Larger software companies have aggressively acquired many best-of-breed solutions to strengthen the arsenal of their integrated suites. For buyers, this means increased functionality and integration with the rest of your HR system. This is especially important in the employee review process, as it broadens the scope of reviews to encompass an employee’s entire lifecycle within an organization. Employee information that previously existed in silos is now centralized and highly visible for managers, enabling organizations to identify top performers and focus their retention efforts strategically. Be sure to lock in rates and service terms, though, as disruption in service can occur when vendors are acquired.

Strategic HR. Basic HR such as payroll, benefits management and human resource management systems (HRMS) now serve as the backbone for a much larger, more complex organism. This complex organism, or “strategic HR,” encompasses the functions and processes associated with talent management and workforce management. HR software developers have turned out a number of products aimed at making concepts like talent pooling, proactive management and strategic development more tangible and attainable for organizations. The emergence of SaaS has had a strong impact on the emerging relevance of strategic HR, and organizations would be wise to tap into performance appraisal systems that put the right tools in their hands.

The Vendor Landscape

These types of buyers...

Should evaluate these systems...

Best-of-breed buyer

iCIMS Talent Platform, ReviewSNAP, Plateau

Integrated suite buyer

Ascentis, Sage Abra, SAP ERP Human Capital Management

Cost-conscious buyers

TrakStar, SuccessFactors, Sonar6