Find out more about Performance Appraisal Software
What is Performance Appraisal Software?
Performance appraisal software automates the tedious and time-consuming task of regularly evaluating employees. With this type of solution, you can collaborate with your company’s workforce to help them develop the skills the organization needs. Managers can track employees’ performance and goals throughout the year and share the results with authorized users.
Performance appraisal software helps to schedule, execute, and document performance reviews. Employees can use the system to perform self reviews, look at past reviews, compare achievements against goals, and schedule reviews at convenient times. Managers can identify top talent for promotion, run performance reports, set reminders, and share this data among departments.
Top features of performance appraisal software include performance rating, real-time reporting, interdepartmental communication, electronic record-keeping, stack ranking, information sharing, goal tracking, and performance notes. Performance Pro
Top 12 Most Popular Performance Appraisal Software
How To Choose The Best Performance Appraisal Software
Performance appraisal software tools are used by managers to evaluate employee accomplishments against set goals and identify top talent for promotion. But how can companies select the best performance appraisal software from the scores of programs out there? To help you, we have prepared this buyer’s guide that details the top features and aspects you should look for to find an apt solution for your specific needs.
Get to know each product with free trial
A good way to start your search for the best performance appraisal software is to register for the free trials or demo offered by top performance appraisal software providers. This will help you to check out each system’s main tools free of cost and also do a comparison. You can visit the websites of the following popular platforms to find out if they offer a free trial: Ascentis, Vibe HCM, UltiPro, and Reviewsnap. These apps have been given high rankings in our performance appraisal software reviews.
Purchasers of performance appraisal software mainly fall in these three categories:
- Cost-conscious customers. These buyers look for a system that offers standard features at an affordable cost. They can opt for inexpensive on-premise solutions. SaaS platforms are also viable for them as they simply need to shell out a monthly subscription fee to avail cloud benefits.
- Integrated suite purchasers. These are companies that have inconsistent and disjointed HR processes. Therefore, they need an integrated suite to unite the various processes and make them more efficient and effective.
- Best-of-breed purchasers. These companies may be already using a HR software solution but are looking for a best-of-breed performance appraisal platform that can be solely dedicated to monitoring and reviewing employees.
Examples of Performance Appraisal Software
- Ascentis: Ascentis offers Human Capital Management (HCM) software for the SMB market. It automates and streamlines key business processes.
- Performance Pro: Performance Pro by HR Performance Solutions is a comprehensive performance appraisal software solution for HR professionals. The platform can automate the whole process, from ongoing check-ins to standard appraisals.
- Vibe HCM: A HR platform that offers core HR, talent management, analytics, communications, onboarding, and payroll and benefits features. You can recruit, manage, and inspire your employees with this unified solution.
- UltiPro: HR, talent management, and payroll software for your human capital management needs. You can use it to develop your employees through performance, succession, and compensation management.
- Reviewsnap: A web-based performance management solution that allows HR professionals to streamline their evaluation process. The platform offers a robust set of features to automate your employee performance review process.
Types of Performance Appraisal Software
The following are the different types of performance appraisal systems:
- Behavioral checklist. This is a list of criteria that an employee should follow to become a smart and productive worker. The behaviors depend on the type of job. This method is preferable as you can evaluate individual performance without comparisons.
- 360 degree appraisal. This method gets feedback from the manager, supervisor, and team members. The unique feature is the reviewed employee also provides their feedback for consideration.
- Management by objective (MBO). This is a modern method where manager and employee agree on specific goals within a deadline. This method helps to easily define success and failure.
- Psychological appraisals. The employee’s psychological traits, analytical skills, emotional stability, and intellect are evaluated to enable the manager to place them in a suitable team.
Key Features of Performance Appraisal Software
- Easy to use: Paper-based performance reviews are difficult to manage. Performance appraisal software systems are a great alternative as you simply need to input the review. Plus, they can collate all your reviews into a handy document.
- Continuous feedback: This software enables managers and employees to give continuous feedback and in real time.
- Additional features: Top platforms also offer added features such as goals and objective module and 360 multirater feedback module. These features provide managers a comprehensive overview on how employees are performing.
Benefits of Performance Appraisal Software
- Goal communication: You can use the software to explain organization, team, and individual goals to employees. Plus, staff members can also be evaluated on common goals such as time and attendance.
- Scope of work: The appraisal solution identifies the scope of an employee’s work and the tasks they need to perform. This scope of work depends on their designation and role.
- Accountability: The appraisal platform helps employees to understand what they need to achieve to get good performance ratings. This boosts accountability and can make staff members more responsible towards their roles and tasks.
- Performance measurement: Managers can use the software to rate employees’ performance on key tasks. They can use a 5-point Likert scale to rate the quality of the work performed.
- Training and development: The system helps managers to evaluate an employee’s strengths and weaknesses. Based on this feedback, the HR unit can offer more training to employees to help them overcome areas of weakness.
Larger vendors are aggressively acquiring best-of-breed platforms to bolster their array of integrated suites. Buyers are benefiting from this trend as they get increased functionality and smoother integration with their existing HR system. The review process is also enhanced as it can now include all reviews during an employee’s stint with a specific company. Information need not be stored in silos but can be made available to managers to enable them to identify and retain top talent.
HR software vendors are now offering strategic HR solutions that encompass the processes and functions of workforce management and talent management. These systems can help companies to perform activities such as talent pooling, strategic development, and proactive management. The popularity of SaaS products is also helping to make strategic HR more relevant.
Lack of time
Managers may fail to make full use of performance appraisal software as they may not have the time to review records and track employee performance throughout the year. This means companies may fail to utilize the full value of the review information generated by the system. The risk here is top talent may opt to go elsewhere if organizations are lax in retaining them.
Not addressing diversity
A company might use the same appraisal form for all categories of employees. For example, the same form might be used for all hourly, all managers, all exempts etc. As you might guess, this single form would surely prove to be inadequate for the job. The solution here is to use the management-by-objective method to address individual needs.
List of Performance Appraisal Software Companies
Our Score Read More
FinancesOnline employs our proprietary SmartScore™ system to evaluate all the solutions in the Performance Appraisal Software category so that we can help you decide on the best possible app. It includes the following metrics: cruscial components, collaboration features, customization, available integrations, intuitiveness, customer support, how secure a software is, support for smartphones and tablets, scores in other media. As of now, BambooHR is the leader in this category and is recommended by our experts. After thorough evaluation it got the best results among its competitors and our reviewers strongly suggest that you consider it as one of the options for your needs.
User Satisfaction Read More
A summary of overall user satisfaction with the software in our Performance Appraisal Software category based on our unique algorythm that collects client reviews, comments and opinions across a broad range of social media platforms to help you make an informed buying decision.
Pricing Read More
Each vendor in the Performance Appraisal Software category will offer a different group of pricing packages for its app and every plan will include a unique group of features. Below we list the general pricing for the cheapest package offered for each service. Please note that advanced features may cost extra.
Devices Supported Read More
An analysis of what kind of devices and operating systems are supported by all B2B services in the Performance Appraisal Software category, including mobile platforms and web-based solutions.
Laguages Supported Read More
Check what languages and geographies are supported by the top B2B solutions in the Performance Appraisal Software category, including spftware designed for international markets and prepared for multi-cultural groups of employees.
Pricing Model Read More
Find out which pricing models are provided by the vendors in the Performance Appraisal Software category to see which one suits your business requirements and expenses best. Be aware that some apps can offer free or freemium accounts for you to try out first.
Customer Types Read More
A brief look at which kinds of clients a selected B2B software in the Performance Appraisal Software category is designed for, from small businesses and non-profits to big enterprises.
Deployment Read More
A summary of what styles of product deployement are provided by every B2B vendor in the Performance Appraisal Software category. While most of modern SaaS services are cloud-based some solutions may offer an on-site deployment model too.
Post by Alex Hillsberg