Performance appraisals are essential for engaging employees and helping them improve. If companies don’t provide effective reviews, employees may look for work elsewhere.
A survey by talent agency Yoh found that 24 percent of employees who receive inadequate performance feedback will consider looking for a new job. And according to Deloitte, only 8 percent of companies believe that their performance management process is a good use of time.
One way companies are addressing performance reviews is by implementing performance appraisal systems. These tools help managers assess employee performance, including assisting with goal setting, employee feedback, peer feedback, and metrics. When used properly, companies can increase employee engagement and foster a culture of continuous improvement.
These tools can help you conduct performance appraisals much faster and focus on what’s important to the business. Here are the seven top performance appraisal systems available.
1.BambooHR Performance Management
As a full HR software package, BambooHR provides onboarding, time tracking, and other capabilities alongside performance appraisals. Its performance management component, BambooHR Performance Management, asks a few questions to help managers evaluate how employees are doing and then presents the data in a visual way to show where the employees stand. It also lets managers set goals and provide feedback at the end of projects, not just annually.
BambooHR is cloud-based and integrates with more than 50 third-party applications. You can customize workflows, access levels, email alerts, and company branding on the portal. To get pricing information, you’ll need to submit a request for a quote.
If you’re looking for a performance appraisal system that only does performance management, Engagedly is worth a try. This tool provides performance review capabilities, as well as real-time feedback, ongoing check-ins, goal setting and tracking, recognition, and social learning. It lets peers provide input as well. Engagedly includes customizable templates for performance reviews that let you set up rating scales.
Engagedly is cloud-based and integrates with ADP, Namely, Google, and Slack, among others. Mobile apps for iOS and Android devices are available. For pricing, contact the Engagedly sales team.
Another complete HR software product is Zoho People. Its human resources management system (HRMS) features include performance management, which allows managers and peers to give continuous feedback to employees. Companies can collect feedback when projects are complete, as well as set goals for employees and track their progress. The appraisal cycle can be customized and includes multilevel reviews.
Zoho People is cloud-based and includes free mobile apps for both iOS and Android devices. You can integrate with all Zoho apps, as well as third-party apps like Zapier, Google Calendar, and DocuSign. Plans with performance management start at $2.50 per user, per month.
Like most of the other performance appraisal systems here, HRweb lets managers and employees set and track goals, as well as use customizable templates for performance reviews. It also supports peer reviews and self-appraisals, and it includes some prewritten text to make the review process go faster.
HRweb is cloud-based and integrates with ADP, QuickBooks, and ZipRecruiter. Pricing starts at $39.95 per month for 10 users.
The AssessTEAM performance appraisal system was designed to support a variety of ways to evaluate employees, including traditional performance reviews, 360-degree feedback, project performance evaluation, and real-time feedback. It also provides real-time productivity analysis, mechanisms for instant feedback, and time tracking.
As with the other tools here, AssessTEAM is completely cloud-based and enables you to customize it based on your company’s needs. Mobile apps for iOS and Android devices are available. Pricing starts at $1 per month, per person.
If you’re looking for complete HR software, Zenefits includes features for onboarding, benefits, payroll, and a performance management module. You can set goals for employees and track them, as well as integrate goals into performance reviews. You can also conduct manager, peer, and 360-degree reviews, as well as customize review forms and review cycles.
Zenefits is cloud-based and integrates with JazzHR, Zapier, Box, Asana, G Suite, Salesforce, and other third-party tools. Pricing begins at $14 per employee, per month for plans that include performance management capabilities.
The performance management component of Lattice HR software lets companies conduct annual reviews with input from peers and managers, as well as share feedback on projects, set and track goals, and celebrate wins. It includes customization capabilities and leverages personas to provide employees with custom interfaces.
Lattice is cloud-based and integrates with other HR software providers like Slack, G Suite, single sign-on providers, and other third-party apps. You can also use the Lattice API to connect your own technology to the software. Pricing starts at $9 per user, per month.
While it seems like the top performance appraisal systems are a lot alike, as you start examining them, you’ll find that choosing one is a matter of what your company needs. For example, you might need more integrations or the ability to heavily customize your reviews. Determine what you’re expecting to get out of a system before you begin looking, and then find the system that best meets those requirements.