7 Top Performance management software for SMBs

Managing performance can feel like juggling flaming torches while riding a unicycle. You need to keep an eye on everything from employee productivity to development goals, all while ensuring your team feels supported and motivated. Fortunately, performance management software can help you streamline these processes, making it easier to foster a high-performing and engaged workforce.

Let’s dive into seven top performance management software solutions tailored for SMBs. Each offers unique features designed to help you track performance, set goals, and nurture your team’s growth.

1. PandaHR

PandaHR is a comprehensive HR software solution designed specifically for SMBs. It’s known for its user-friendly interface and robust features that cover all aspects of HR management, including performance management.

Key features

• Performance tracking: PandaHR allows managers to set and track individual and team goals, providing a clear overview of performance metrics.
• Employee self-assessments: Employees can conduct self-assessments, promoting a culture of self-improvement and accountability.
• Customisable review templates: The software offers various templates for performance reviews, which can be customised to fit your company’s needs.

Benefits

PandaHR simplifies the performance review process, making it less stressful and more productive. According to G2 Crowd, 92% of users are satisfied with PandaHR’s performance management features.

2. 15Five

15Five is designed to help managers and employees stay connected through continuous feedback and goal setting. It’s an excellent tool for fostering a culture of transparency and open communication.

Key features

• Weekly check-ins: Employees complete weekly check-ins, allowing managers to stay updated on their progress and challenges.
• OKR tracking: 15Five supports the Objectives and Key Results (OKR) framework, helping teams align their goals with the company’s strategic objectives.
• Customisable surveys: The platform includes various survey tools to gauge employee sentiment and engagement.

Benefits

15Five helps create a feedback-rich environment, which can lead to higher engagement and better performance. According to a study by Deloitte, companies that implement regular employee feedback see a 14.9% lower turnover rate.

3. Lattice

Lattice is a performance management and employee engagement platform designed to help SMBs build high-performing teams. Its features are geared towards promoting growth and development.

Key features

• Continuous feedback: Lattice facilitates ongoing feedback between managers and employees, ensuring that performance issues are addressed promptly.
• Performance reviews: The platform offers structured performance reviews, including peer reviews and self-assessments.
• Goal setting and tracking: Lattice allows for clear goal setting and progress tracking, helping employees stay focused and motivated.

Benefits

Lattice’s user-friendly interface and comprehensive features make it a popular choice among SMBs. According to Capterra, 94% of users would recommend Lattice to other businesses.

4. Trakstar

Trakstar is designed to simplify the performance appraisal process and make it more effective. It offers a range of tools to help managers evaluate employee performance accurately.

Key features

• Customisable appraisal forms: Trakstar allows you to create custom appraisal forms that suit your specific needs.
• Automated workflows: The software automates many aspects of the performance review process, saving time and reducing errors.
• Real-time feedback: Employees can receive and give feedback in real-time, promoting continuous improvement.

Benefits

Trakstar’s flexibility and ease of use make it an excellent choice for SMBs looking to streamline their performance management processes. According to Software Advice, 90% of users rate Trakstar highly for its appraisal features.

5. PerformYard

PerformYard offers a flexible performance management system that can be tailored to fit your company’s unique processes and goals. It focuses on simplifying performance reviews and goal tracking.

Key features

• Customisable performance reviews: PerformYard allows you to design performance reviews that align with your company’s specific needs.
• Goal management: The platform provides tools for setting, tracking, and achieving performance goals.
• Feedback and recognition: PerformYard facilitates continuous feedback and recognition, helping to build a positive work culture.

Benefits

PerformYard’s customisability and focus on continuous improvement make it a valuable tool for SMBs. According to G2, 88% of users are satisfied with PerformYard’s performance management capabilities.

6. Reviewsnap

Reviewsnap is an easy-to-use performance management software that offers comprehensive features for managing employee performance and development.

Key features

• Performance reviews: Reviewsnap provides a range of templates for conducting performance reviews, making the process straightforward and efficient.
• Goal setting: The software supports goal setting and tracking, helping employees stay aligned with the company’s objectives.
• 360-degree feedback: Reviewsnap includes 360-degree feedback tools, allowing for comprehensive performance evaluations.

Benefits

Reviewsnap’s simplicity and effectiveness make it a popular choice for SMBs. According to TrustRadius, 85% of users recommend Reviewsnap for its performance management features.

7. Engagedly

Engagedly combines performance management with employee engagement tools to help SMBs create a motivated and high-performing workforce.

Key features

• Performance appraisals: Engagedly offers tools for conducting thorough performance appraisals, including self-assessments and peer reviews.
• Employee recognition: The platform includes recognition features that allow employees to appreciate each other’s contributions.
• Learning management: Engagedly provides learning management tools to support employee development and growth.

Benefits

Engagedly’s focus on both performance and engagement makes it a comprehensive solution for SMBs. According to GetApp, 89% of users are satisfied with Engagedly’s performance management and engagement features.

Choosing the right performance management software can transform how you manage and develop your team. Each of these seven solutions offers unique features tailored to the needs of SMBs, helping you streamline performance reviews, set clear goals, and foster a culture of continuous improvement. By implementing the right software, you can ensure your employees are engaged, motivated, and aligned with your company’s strategic objectives.