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Best performance management platforms of 2022 including Lattice, 15Five, Leapsome, CultureAmp, Hibob, Betterworks and Kazoo
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Performance management systems are software applications used by companies to track the performance and goals of their employees. These systems are designed to help organizations evaluate their employees' performance, identify areas for improvement, and offer development opportunities. The goal is that employees will be better prepared for future roles and promotions within the organization.
Performance management is a process of managing employee performance. It helps managers to improve their performance by evaluating the employees and providing them with feedback.
A good performance management system can help employees track their progress and have a better understanding of how they're doing, which in turn makes it easier for them to grow within their roles.
Performance management tools are different from traditional annual reviews because they provide regular feedback on performance throughout the year rather than just one big review at the end of each period
Some organizations use OKRs (Objectives & Key Results) or SMART goals to set objectives, and these can be tracked in a performance appraisal software, although neither of these methods is required at your company.
A performance management system should be part of a complete HRIS system, or it should integrate with your existing Core HR system. This way, you can feed data from your employee self-service portal into the performance management system, which in turn feeds information back to payroll and other systems.
One of the key benefits of having an integrated solution is that employees will feel more engaged since they don't have to switch between applications or enter data again if they submit something through one application but need to see it later in another application.
The second benefit is that managers will find it easier to manage their direct reports because they can view all their employee's data across all relevant systems (e.g., timekeeping records). Managers will also be able to keep track of how each individual is performing against their goals without having to go through multiple systems or asking various people for updates on different aspects of an employee's performance at any given time (remember: no one ever got fired for not asking questions!).
A performance management system can help you:
Some drawbacks with a performance management system include:
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With a fresh $45M in venture funding, Lattice is one of the best performance management software systems and is continuing to execute on their mission of building a flexible, easy-to-use platform that can create high performing teams.
Lattice began as a goals & OKRs platform, but has quickly added functionality to support annual reviews, check-ins, engagement surveys and career pathing.
One of the great things about Lattice is their modern user interface which mirrors what we have come to expect from consumer-grade technology. And when employees are excited to use a tool like Lattice, companies can expect better data and better outcomes.
15Five helped pioneer the continuous performance review model by building their platform on a simple, weekly pulse-check model. This simple, unobtrusive nudge asks employees to take a few minutes each week to reflect on how they're feeling at work, giving managers better data to understand their employees.
15Five has moved far beyond the check-in model and now supports full annual reviews, peer-to-peer recognition and engagement surveys. But the continuous updates that managers receive in 15Five is one of their strongest features
Culture Amp helped build the modern engagement survey industry. Their psychology-based survey tools can help companies ask the right questions, understand their employee's results and take action in a meaningful way. Although they started off focusing on employee engagement, Culture Amp acquired a performance management solution in 2019 and are starting to bring the two solutions together.
Many companies in this industry are actively developing new features to broaden their offering, while Kazoo can already offer a unified, full suite employee experience platform.
Rather than just being a platform that employees visit to complete performance reviews or surveys, Kazoo is designed to be the cultural hub of your company. This includes not just reviews and surveys, but also rewards, recognition, goals and a newsfeed.
Kazoo is also one of the most enterprise-grade solutions in this area and works closely with businesses during implementation to ensure that their employee engagement hub reflects their company
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Almost every major HRIS vendor now offers a performance management and employee engagement module. However, very few HRIS's can offer the modern, dynamic functionality that companies are looking for (which is why the performance management marketplace exists) That is, except for Hibob.
Hibob is a true HRIS with timekeeping, onboarding and benefits management capabilities. But Hibob's HRIS was built with employee engagement and performance management tools at its core, while others make those tools ancillary add-ons.
Many of their peers can report on performance and engagement metrics, but Bob's HRIS capabilities allow them to also add absence, pay and benefits data into the picture too.
Smart companies have always known that businesses perform their best when individuals are bought in and rowing in the same direction. The Objectives and Key Results (OKR) framework has been adopted at thousands of companies to help create greater alignment throughout the organization around strategic goals.
The person who developed the OKR framework sits on Betterworks' board, and all of Betterworks' performance and engagement functionality cascades down from those strategic business goals.
Companies that prioritize performance and alignment find no better partner than Betterworks for bringing those strategies to life.
A performance management system is one of the most important tools a company can have in place. It allows leadership to keep track of all employees’ progress and goals, while also making sure they’re staying on track with their work.
A performance management system is a software application used by companies to track employee performance, set goals, provide feedback, and identify areas for improvement. It's important for businesses because it helps in evaluating and managing employee performance effectively, leading to increased productivity and better outcomes.
Key features of performance management solutions include goal setting and tracking, continuous feedback mechanisms, performance appraisal tools, engagement surveys, career development planning, and integration with HRIS systems. These features enable organizations to streamline their performance management processes and facilitate ongoing employee development.
Pros of using a performance management system include better visibility for managers and employees, more continuous feedback for employees, and better alignment toward goals and results. However, drawbacks may include additional costs associated with setup and maintenance, and the potential lack of integration with existing HRIS systems.
Some popular performance management software options in 2022 include Lattice, 15Five, Culture Amp, Kazoo, Hibob, and Betterworks. Each of these platforms offers unique features and capabilities tailored to different organizational needs and preferences.
Businesses should assess their specific requirements, such as goal tracking, feedback mechanisms, integration capabilities, and budget constraints. They can then evaluate different software options based on features, user reviews, vendor reputation, and potential for customization. Requesting demonstrations or free trials can also help businesses make informed decisions.
