Top 15 Best Employee Performance Management Software Systems in India in 2022
Performance management is the entire process of defining a job according to the requirements till an individual leaves that position.
Apart from these, performance management entails defining clear job descriptions, recruiting talented workers, selecting staff, training new employees, and compensation, among other things.
Previously, all businesses employed a rating system in which personnel were rated on a scale of one to five stars.
However, many large organizations later removed this approach, emphasizing the importance of having a conversation between management and employees.
Performance Management Overview:
According to Harvard Business Review research, 51 large companies began using the no-ratings method in 2015. As a result, according to the same report, 70 per cent of organizations in 2015 were rethinking their performance management strategy, according to the research firm Bersin by Deloitte.
The performance management process replaces the old performance assessments, personnel reviews, and evaluations. On the other hand, performance management software will provide you with transparency and recognition in addition to feedback, allowing you to improve staff engagement.
As a result, software users may concentrate on company goals, evaluate performance, and track the organization’s progress. It keeps track of all operations linked to the company’s objectives. Employees, supervisors, and leaders will benefit from it.
Employees will be informed about their performance and contribution to the company’s growth using the software. Performance review software can be used as a stand-alone system or as part of a more extensive HR management suite or compensation management system.
Advantages of Performance Management Software:
1. Employee Empowerment
One of India’s most notable benefits of using performance management software is the freedom it provides in evaluating employees’ performance. As a result, employees may utilize technology to track their development and understand how they contribute to their organizations’ long-term goals.
2. Ongoing and Continuous Feedback
Aside from empowering employees, performance management software guarantees that employees are reviewed regularly. Managers and HR can use this software to deliver relevant training and counselling to employees who require it.
3. Gratitude and Acknowledgement
Performance management tools provide firms with a one-of-a-kind tool for acknowledging the work of their staff. In India, performance management software can provide real-time data. This data can also be saved in the system and get insight.
4. Opportunities for Professional Development
Specific performance management software in India can provide meaningful prospects for professional improvement for employees. Businesses can also use this software to provide career development training to their staff.
5. Increasing Employee Involvement
Finally, businesses that adopt performance management software benefit significantly from greater employee engagement. Through Performance Management Software in India, employees can receive continuous feedback.
The following is a list of the most significant online employee performance appraisal and management software systems widely used.
1. Trakstar
Trakstar is a one-stop, comprehensive platform for organizations to regularly analyze and grow their teams and leadership. Trakstar’s Performance Management service can be used by businesses to create and disseminate performance reports.
After purchasing your module, you can customize it to meet your specific requirements. Trakstar’s capabilities and visually attractive UI make it one of India’s best performance management tools.
The software helps:
- Attract and Hire Top Talent: Organizations can compete in today’s hiring landscape using the correct applicant tracking technologies to attract the best employees, allowing their fully staffed teams to fulfil business objectives.
- Develop a High-Performance Culture: Organizations can use Perform’s Performance Reviews to define goals, set expectations, and provide continual feedback, supporting employee growth and organizational accountability.
- Employee Development Through Ongoing Learning: Employees should be given new learning as part of an intentional retention plan to prevent the high cost of turnover.
- Recognize Employee Engagement: Organizations can affect change by conducting employee engagement surveys, responding to candid feedback, and identifying flight risk areas.
Features:
- Trakstar’s performance management service offers a variety of reports to help you discover top performers.
- It includes tools for goal-setting and goal-tracking.
- Furthermore, this performance management software will provide you with real-time 360-degree feedback.
Pricing: Trakstar will set you back $4,370 each year.
2. Reviewsnap
Reviewsnap’s excellent performance management software is the most adaptable, comprehensive, and cost-effective online solution. Performance appraisals, 360-degree feedback, and monitoring are all included in the restricted annual membership. Reviewsnap has proven to be an effective tool for enhancing staff communication, morale, and productivity.
Reviewsnap is a perfect framework for improving employee communication, morale, and productivity, as well as establishing a high-performance culture.
Features:
- E-signatures, automatic reminders, email notifications, and secure archiving are all available with Reviewsnap.
- It includes features for recording and managing goals such as SMART goals, monitoring employee development, establishing objectives, and tracking achievements.
- It contains appraisal forms that are both automated and configurable.
- You can perform an unlimited number of review cycles.
Pricing: It has multiple pricing plans based on the use that start at $3040 per year.
3. Namely
Namely is a comprehensive HR and payroll management software. It provides a cloud-based solution to mid-sized organizations in any industry. Specifically, it centralizes all personnel information. It also features the most extensive HR and payroll functionality and is simple to use.
Features:
- Custom Profiles, Mobile App, Analytics, Org Charts, Calendar, Workflows, central storage & management of documents, and customizing time-off plans are some of the capabilities available as an HR platform.
- It enables you to delegate tasks and duties.
- It serves as a repository for billing reports and records.
- It can automatically sync benefit deductions to payroll.
- It enables you to distribute company-wide announcements.
- It is best suited for: It has the most advanced HR and payroll systems functionality. The system is simple to use.
Price: The monthly fee varies between $12 and $30 per employee.
4. BambooHR
BambooHR’s HR services can benefit businesses of all sizes. Its employee evaluation programme enables managers to compare staff performance and involvement. It also includes an applicant tracking system and electronic signing software. Remember that it’s a simple solution that’s suitable for small businesses.
Features:
- It allows you to collaborate with management to create and track goals.
- It gives the corporate performance data that allow it to compare organizational performance across departments.
- It includes an employee database that saves all information, from healthcare to home addresses, in one place.
- Simple and meaningful questions for peer performance insights.
- Reminders that are automated.
- It is a user-friendly solution that is ideal for small enterprises.
Price: BambooHR is presently priced between $6.19 and $8.25 per month.
5. SAP SuccessFactors
SAP SuccessFactors is a solution for human resources, payroll, and analytics. It aids businesses in hiring, development, process optimization, and remuneration. Keep in mind that this performance management software is cloud-based and provides HR solutions to firms of all sizes.
Features:
- There are over 500 goals in the Goal Library. It will assist you in establishing standards.
- You can remark on and update staff efforts using the Mobile Goal Management function.
- It promotes conversation between employees and supervisors to improve ongoing performance management.
- The Writing Assistant and Coaching Advisor will provide you with valuable comments.
- Greatest For: SAP SuccessFactors’ HR Tool is the best solution.
Price: SAP SuccessFactors will cost $4.17 per user per month.
6. 15Five
15Five is an employee performance management system. It enhances employee engagement by asking questions regularly. Furthermore, with 15Five, all reports and data can be kept in a single location. It comes several valuable tools as well as actions for dealing with feedback.
Features:
- You’ll be able to use 15Five to arrange and execute a one-on-one meeting with team members.
- It comes with a giant question bank and follow-up questions for a weekly check-in.
- Furthermore, the inclusion of targets and significant results will help to keep the team focused, aligned, and engaged.
Price: 15Five has three price tiers starting at $7.
7. ClearCompany
ClearCompany has provided recruitment, workforce planning, and performance management services to over 2000 clients. Employees can also use this programme to celebrate personal accomplishments and peer recognition. The performance management module includes annual evaluations, time-based reviews, and email reminders.
Features:
- Peer reviews are unrestricted.
- You can get time-based evaluations.
- Reminders are sent automatically to ensure that all reviews are completed.
- It is completely configurable. It enables you to design your scales, questions, and sections.
- It can link performance data to recruiting.
- Many features are available in the applicant tracking system, including bulk emails, mobile career sites, and social sharing capabilities.
- Best for: The system is best suited for use as an applicant tracking system.
Price: To find more about the product pricing, you should contact the company.
8. Oracle HCM
Oracle HCM’s cloud-based HR, Talent Management, and Workforce Management solutions are suitable for medium and large businesses. This software’s key components include recruitment, talent profiling, and learning. Surprisingly, the product is simple to use and understand.
Features:
- Set and communicate essential goals.
- It enables you to monitor the progress in real-time.
- It aids in the development of training programmes.
- It is simple to view candidate profiles and the talent pool.
- Employees will manage their information, absences, and benefit enrollments via the Global HR solution.
- It accurately records all employees’ time (full-time, contingent, non-exempt, and project-based).
- The product is best suited for user-friendly and straightforward to operate.
Price: This software has an $8 monthly cost per user.
9. UltiPro
UltiPro is a solution for human capital management (HCM).
This cloud-based system assists businesses with human resources, payroll, and talent management. It has many features and functionalities, including time management, performance management, succession management, a predictive analytics tool, compensation management, and much more.
The technology is suitable for any size of business.
Features:
- It includes a timer feature.
- It aids in the hiring process.
- It offers employee surveys as well as sentiment analysis.
- The talent management system incorporates a continuous performance management process and encourages employee career development.
- It includes Payroll administration, Tax Management, and Compliance features.
- The system is best suited for Payroll functions.
Price: Its cost is determined by the subscription model.
10. HRsoft
The PERFORMview project management software from HRsoft is simple to use. It is a system that operates in the cloud. Managers can also use the system to improve their relationships with their teams. As a result, employees are more engaged and productive.
Features:
- It provides 360-degree input and has been designed with user-friendliness in mind.
- The software can also provide real-time reporting to management.
Price: To find more about the product cost, you must contact the company.
11. Engagedly
Employee engagement is a feature of Engagedly, a performance management software. It has customized solutions for all business sizes. Not only that, but its programme includes performance ratings, actual feedback, and recognition.
Features:
- It provides an exciting performance management mechanism.
- Process of 360-degree evaluation.
- It enables you to provide one-on-one feedback in real-time.
- You can provide social kudos.
- The Cascading Goal Setting Module will enable you to set, track, and monitor your goals.
- Employees will award points to one another through the Engagedly employee appreciation tool.
- The system excels in terms of performance management capabilities and functionality.
Price: This performance management software will cost $5 per month per user.
12. PeopleFluent
PeopleFluent offers cloud-based solutions for the human acquisition, talent management, and learning. It also automates the performance management process. PeopleFluent’s talent management technology is also integrated and comprehensive.
Features:
- Constant feedback.
- Employees can be aligned with organizational goals to increase productivity.
- It can be used with personnel management to help with remuneration, succession planning, and learning solutions.
- Analytics are built-in.
- It provides an easy-to-use administrative solution that aids in automating the performance management process.
- It contains powerful goal-setting tools that allow you to make your objectives public, private, locked, or changeable.
- The applicant tracking system is ideal.
Price: To find more about the product pricing, you should contact the company.
13. IBM Talent Management
IBM Talent Management offers Human Resource Solutions, Talent Management, Talent Acquisition, and Assessment Tests.
There are several options for Talent Acquisition, including IBM Kenexa Talent Acquisition Suite, IBM Kenexa Employee Assessments, IBM Watson Candidate Assistant, and IBM Watson Recruitment.
IBM offers Individual Assessments, Enterprise Assessments, and Cybersecurity Assessments for Talent Assessments. IBM Talent Management is an ideal solution for any size company.
Features:
- AI is used to fuel Talent Acquisition.
- Tests for behavioural and skill evaluation.
- Enterprise evaluations
- Watson AI’s data-driven insights will assist you in finding the most excellent match candidate for your firm.
- Ideal for: IBM Small, medium, and large organizations can benefit from talent management. It offers solutions to assist businesses in training and developing employees.
Price: The cost of IBM Cloud Application Performance Management begins at $26.60 per month. The cost of IBM Kenexa Employee Assessments will start at $319.20 for ten scores.
14. Synergita
Synergita offers agile employee performance management, employee engagement, and OKR solutions to organizations striving for high performance-driven growth.
Synergita is trusted by 350,000 users from 100+ companies worldwide, including IT/ITES, Manufacturing, Pharma, Financial Services/FinTech, Retail, and Non-Profit sectors, for employee performance management, engagement, and OKR.
Features:
- AI-powered sentiment analysis helps preserve and cultivate a culture of positive feedback across the organization.
- A lightweight, result-oriented OKR solution enables enterprises to launch OKR to specific functional teams or across organizations immediately.
- In-depth features such as matrix objectives management, continuous check-ins, 360-degree appraisal feedback, 1-1 meetings, and Smart promotion management provide total automation of digital performance transformation.
- A culture score is used to assess employee adherence to company culture across the enterprise.
- Configurable dashboards and reports that aid in acquiring meaningful people and performance data.
- Synergita offers best-in-class continuous performance management, employee engagement, and OKR solutions to help organizations establish high-performing teams.
Price: Synergita cost is simple; $5/user/month.
15. Keka
Keka is a platform for employee experience. The only employee-centric HR and payroll software. They are a modern new generation platform focused on user experience and streamlining complex operations instead of traditional HR solutions. The core activities for any employee-centric firm are HR, Payroll, and Talent Management. These activities must be handled by a professional. You don’t need to search further than the Keka HR Payroll Platform.
Keka is one of India’s most intelligent payroll systems. This software solution provides a fully integrated and unified workflow for a trouble-free payroll processing experience. One of the most valuable aspects of this software system is its ability to manage and nurture talent. Keka enables you to collaboratively automate all fundamental HR functions, allowing you to focus on higher-level HR activities.
It is best suited for Indian enterprises because it was created with an Indian employee perspective in mind.
Features:
The KekaHR solution is intended to improve a company’s employee experience. It is one of the most effective human resource management systems (HRMS) software programmes on the market. The tools help managers engage their employees in meaningful ways. The following features serve this purpose:
1. Payroll on the Cloud: Keka payroll software automates and unifies accounting operations. It keeps track of loans, benefits, and expenses while adhering to legislative requirements. The product also provides payslips and salary information.
2. Monitoring: Employee onboarding, departure surveys, Slack, and Microsoft connectors are all supported by the Keka app. Assets, complex roles, permissions, custom reports, reminders, and notifications are also tracked.
3. Time Administration: Employees can use the self-service site by logging in using the Keka app. They may sign up using their email address to track attendance and leaves, and the software also allows for advanced leave management, gamified attendance, and overtime automation.
4. Performance Evaluation: The customary approvals, timing, and document storage are insufficient. As a result, Keka software facilitates continual feedback, nominations, skill reviews, critical result area monitoring, and calibrations.
5. Recruiting and Onboarding: Employee profiles and standard access roles help clients. The Keka app login makes it easier to use onboarding and hiring resources. Managers can use gamification, evaluation tools, reporting, and analytics to manage careers.
6. Specifications for the Product: Keka HR is a cloud-based solution available for desktop computers (Windows only) and mobile devices. The mobile app supports Android OS. It is available in English and Telugu, Hindi, Tamil, Japanese, and Kannada. It requires a device running Android 5.0 or later, and the software is 25MB in size.
7. Project Management: Managers may rely on the Keka app to successfully manage projects. They can communicate with staff remotely and set up one-on-one sessions. Job functions, as well as standard and cascade goals, can also be efficiently tracked. They can also apply the critical thinking framework to goals and essential outcomes (OKR).
Price: It offers three plans which are foundation plans (Rs 6,999/-), strength plans (Rs 9,999/-), and growth plans (Rs 13,999/-)
Conclusion
This was all about performance management and the best performance appraisal software on the market.
To summarise, Namely excels at HR and payroll functions, whereas BambooHR is ideal for small organizations, and 15Five has strong communication capabilities.
As applicant tracking systems, ClearCompany and PeopleFluent are the finest. HRsoft and Engagedly provide the best performance management features. UltiPro excels in payroll functions, while SAP SuccessFactors excels as an HR platform.
Any performance management software can have three pricing models: pay-per-user, pay-per-employee, or pay-per-appraisal. Pay-per-user pricing can range from $3 to $10 per user/month, including setup fees.
The Pay-per-employee approach might cost between $1.50 and $5 per employee each month, plus implementation fees. The Pay-per-appraisal strategy might cost between $15 and $40 for each appraisal.
