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16 Best Performance Management Tools for Businesses in 2024

Kumusta, Business People! When 60% of companies have adopted performance management tools as part of their HR system, why are you still hesitant to use them?

If your concern is about the best performance management tools vendors in the Philippines, then that concern will be erased after you read this article. It provides valuable insights to guide you in choosing the right vendor.

You will know what kind of system you should use by providing a complete review of the top 16 performance management tools, such as HashMicro. Find tips on choosing the best software vendor to support your business growth in the Philippines.

Key Takeaways

  • Performance evaluation tools are crucial for businesses to track employee performance.
  • If you successfully choose the best performance tool in the Philippines, you will reap numerous benefits, such as boosting your company’s income.
  • Amongst the 16 best employee performance management software below, HashMicro is the most comprehensive and popular choice. It offers a free demo, which you can try today!

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Table of Content

    What is a Performance Management Tool?

    Performance management tools are software solutions that enable organizations to monitor and improve employee performance effectively. By setting clear goals and tracking progress, these tools ensure that employees stay aligned with business objectives.

    Beyond goal-setting and feedback, these tools support employee development by providing personalized growth plans. Additionally, they leverage analytics to deliver valuable insights into performance trends, helping managers make informed decisions.

    Benefits of Using Performance Management Tools

    Business People, before using tools for performance management, is knowing the benefits it can bring to your company mandatory, diba? For that, here are a series of benefits if you use performance management tools as part of the best HR software in the Philippines:

    • Improved goal alignment ensures that employee goals match organizational objectives for focused efforts.
    • Enhanced productivity allows employees to boost their performance through real-time feedback.
    • Streamlined performance reviews make evaluations faster and more unbiased for everyone.
    • Data-driven decision-making helps leaders make informed choices using insights from analytics.
    • Continuous employee development supports career growth and keeps employees engaged.
    • Increased accountability holds managers and employees responsible for performance outcomes.

    Top 16 Performance Management Tools in 2024 for Businesses

    Performance management tools are essential for optimizing employee productivity, aligning goals, and driving organizational success. To help you make an informed decision, we’ve curated a list of the top 16 performance management tools for businesses in 2024.

    1. HashMicro Performance Management Tools

    hashmicro performance management toolsWhy we pick it: HashMicro stands out for its advanced features tailored for comprehensive workforce management.

    Established in 2015, HashMicro is the favorite choice of more than 1750 Southeast Asian entrepreneurs, including the Philippines. It is not for nothing, HashMicro offers endless benefits to its potential customers, such as free demos, free user add-on fees, and flexible system customization.

    HashMicro’s best performance management tools ensure that every employee grows and is aligned with the company’s goals. As the best overall, HashMicro offers the best features, such as:

    • KPI-based talent management: Track employee performance using Key Performance Indicators (KPIs).
    • Flexible work schedule management: Create and manage employee shifts or fixed schedules.
    • Employee development and e-learning: Plan training programs and provide e-learning based on performance reviews.
    • 9-box matrix performance analysis: Evaluate current performance and future potential using the 9-box matrix method.
    Pros Cons
    Comprehensive reporting There is a line of free demos available for businesses wanting to try out HashMicro’s HR system.
    Excellent local customer support
    Strong integration with ERP systems
    Customizable workflows
    The UI interface is user-friendly

    2. BambooHR

    bamboohrWhy we pick it: BambooHR offers an all-in-one platform that simplifies performance management with a user-friendly interface.

    Founded in 2008, BambooHR has an intuitive, cloud-based system. While it started as an HR management platform, it has expanded to include powerful tools for performance evaluations. With a focus on usability, BambooHR makes it easy for managers to set goals and track employee progress.

    Key features:

    • Customizable performance reviews
    • Goal tracking and alignment
    • Employee self-assessments
    • Peer and manager feedback
    Pros Cons
    Intuitive and easy to navigate Limited advanced reporting features
    Strong focus on employee experience Customization options are basic
    Regular updates and improvements Not ideal for complex organizational structures
    Solid integration with HRIS tools Some users report slow customer support

    3. Degree Feedback

    degree feedbackWhy we pick it: Degree Feedback promotes a culture of transparency and accountability.

    A tool designed around the principles of multi-source feedback, Degree Feedback focuses on delivering well-rounded performance insights. This platform allows businesses to gather feedback from multiple stakeholders—managers, peers, and subordinates—providing a holistic view of employee performance.

    Key features:

    • Multi-source feedback collection
    • Comprehensive reporting tools
    • Feedback analysis and action plans
    • Built-in survey templates
    Pros Cons
    Comprehensive feedback collection The interface can be overwhelming for new users
    Built for transparency and inclusivity Limited integration with other platforms
    Adaptable for various feedback models Difficult to set up initially
    Clear reporting insights No mobile app for feedback input

    4. Trakstar

    trakstarWhy we pick it: Trakstar delivers a clean, straightforward interface for performance evaluations and goal setting.

    Trakstar has carved a niche in performance management by offering tools that simplify employee evaluations. Its focus is on helping businesses create meaningful evaluations that drive employee engagement.

    Key features:

    • Employee engagement tools
    • Customizable performance reviews
    • Real-time feedback features
    • Goal tracking and reporting
    Pros Cons
    Easy to set up and use Limited customization options
    Engaging and modern interface Basic reporting tools
    Good customer support Some advanced features are missing
    Strong focus on continuous feedback Integration with external systems can be tricky

    5. Engagedly Inc.

    engagedly incWhy we pick it: Engagedly emphasizes employee engagement through its performance and learning platform.

    Launched in 2014, Engagedly is a software designed to enhance both employee performance and engagement. The platform offers one performance management, learning, and engagement tool package, encouraging employees to grow while staying aligned with company goals.

    Key features:

    • Performance appraisals and feedback
    • Learning and development modules
    • Employee recognition tools
    • Goal management and alignment
    Pros Cons
    Combines learning and performance tools Complex setup for new users
    Focus on employee engagement Price scaling for larger teams
    Strong employee feedback features Lacks deeper integration options
    Regular feature updates Limited offline access

    6. Lattice

    latticeWhy we pick it: Lattice provides a seamless blend of performance management and employee engagement tools.

    Founded in 2015, Lattice is a fast-growing performance management platform that offers tools to promote employee growth and organizational alignment. The platform emphasizes continuous feedback, development, and transparency, making it a solid company choice.

    Key features:

    • Performance reviews and feedback loops
    • Goal setting and tracking
    • Employee engagement surveys
    • Performance analytics dashboard
    Pros Cons
    User-friendly interface Limited advanced analytics options
    Integrates well with other HR systems More suited for mid-sized companies
    Continuous development and updates The learning curve for some features
    Excellent customer service Customization options can be limited

    7. Reflektive

    reflektiveWhy we pick it: Reflektive emphasizes a structured approach to aligning individual and organizational goals.

    Reflektive is a performance management tool designed to help businesses ensure that their employees’ goals align with the company’s objectives. It focuses on clear, measurable outcomes and gives managers the tools to track progress effectively.

    Key features:

    • Performance Management
    • Talent Acquisition
    • Learning & Development
    • Employee Self-Service
    Pros Cons
    Simple and effective goal-tracking Lacks deeper performance review features
    Visual progress tracking Limited customization options
    Clean user interface No mobile support for tracking goals
    Easy to integrate with task management tools It can be too basic for complex goals

    8. Perform Yard

    perform yardWhy we pick it: Perform Yard excels at providing customizable performance review templates and analytics.

    Perform Yard offers a flexible performance management solution for businesses looking for customizable performance review tools. Launched in 2013, it has become a good choice for companies that need a platform adaptable to their specific performance management processes.

    Key features:

    • Customizable performance review cycles
    • Employee performance reporting
    • Continuous feedback and goal-setting
    • Data-driven performance insights
    Pros Cons
    Highly customizable review process Can be overwhelming for small teams
    Data-driven reports for performance analysis Some users report a steep learning curve
    Strong continuous feedback tools Limited third-party integrations
    Visual dashboards for tracking performance Customer support could be more responsive

    9. BerniePortal

    bernieportalWhy we pick it: BerniePortal focuses on aligning employee growth with business goals through targeted training and reviews.

    BerniePortal was created to emphasize individual growth and development within an organization. It focuses on providing tools for personal growth while ensuring alignment with broader business objectives, making it a good choice for Filipino businesses.

    Key features:

    • Recruiting
    • Onboarding
    • Time & Attendance
    • Performance Management
    Pros Cons
    Personalized development paths Limited scalability for large teams
    Focus on both growth and performance Lacks robust analytics features
    Integration with learning management systems UI can be outdated in design
    Easy-to-use training tools Not ideal for goal-heavy workflows

    10. Leapsome GmbH

    leapsome gmbhWhy we pick it: Leapsome combines performance management with employee engagement for a holistic experience.

    Based in Berlin, Leapsome was launched with a vision to create a people-centric approach to performance management. The platform merges continuous performance evaluations with employee engagement, development, and recognition tools.

    Key features:

    • Continuous performance evaluations
    • Goal-setting and progress-tracking
    • Employee engagement surveys
    • Customizable learning and development paths
    Pros Cons
    Strong emphasis on employee engagement May lack advanced analytics for large companies
    Continuous feedback and check-ins Customization can feel limited
    Well-designed interface Some users report limited mobile functionality
    Employee recognition tools Steeper pricing for larger teams

    11. Workhuman Conversations

    workhuman conversationsWhy we pick it: Workhuman Conversations integrates performance management with incentive-based programs to boost motivation.

    As the name suggests, Workhuman Conversations ties performance management to employee recognition and incentive systems. It’s an ideal platform for businesses that prioritize motivating their workforce through rewards while monitoring performance metrics.

    Key features:

    • Continuous feedback
    • Performance check-ins
    • Goal setting and tracking
    • Peer-to-peer recognition
    Pros Cons
    Incentive-based motivation Limited integration with external platforms
    Strong focus on employee recognition Some users report outdated design
    Good for teams that thrive on rewards It can be expensive for larger teams
    Easy to use Lack of advanced reporting tools

    12. 15Five

    15fiveWhy we pick it: 15Five offers a user-friendly approach to performance management focusing on employee engagement and development.

    Launched in 2012, 15Five was designed to create a seamless way for managers and employees to stay connected. The platform’s straightforward interface makes it easy for businesses to conduct weekly feedback loops, track progress, and provide continuous development opportunities.

    Key features:

    • Weekly feedback and check-ins
    • Goal tracking and alignment
    • Performance reviews
    • Continuous development opportunities
    Pros Cons
    Simple, user-friendly interface Limited advanced reporting features
    Great for regular feedback Lack of deep integration options
    Continuous development and growth tools It can feel basic for larger companies
    Strong focus on engagement Steep pricing for bigger teams

    13. Paycor

    paycorWhy we pick it: Paycor excels at combining payroll and HR functionalities with robust performance management tools.

    Paycor is a long-standing performance management solutions provider serving businesses since 1990. While initially focused on payroll, Paycor has expanded its platform to include advanced performance management features, offering a comprehensive suite for businesses looking to centralize HR operations.

    Key features:

    • Performance reviews
    • Continuous feedback tools
    • Goal tracking and alignment
    • Integrated payroll and HR management
    Pros Cons
    Strong integration with payroll and HR It can feel overwhelming for smaller teams
    Centralized performance and HR functions UI can be slow at times
    Good customization options Customer support can be inconsistent
    Robust reporting features The initial setup can be complex

    14. Peoplebox

    peopleboxWhy we pick it: Peoplebox integrates performance management with business intelligence for data-driven insights.

    Founded in 2019, Peoplebox combines performance management with business intelligence, giving companies a unique ability to manage employee performance while leveraging data-driven insights. Its focus is on helping businesses align employee goals with strategic business objectives.

    Key features:

    • Real-time performance tracking
    • Goal alignment with business objectives
    • Continuous feedback and coaching
    • Business intelligence integration
    Pros Cons
    Data-driven insights for better decision-making Some users report slow response times
    Easy-to-use performance tracking The steep learning curve for new users
    Business intelligence integration Limited integration with third-party apps
    Focus on goal alignment Complex initial setup

    15. ClickUp

    clickup

    Why we pick it: ClickUp combines project management with performance tracking, offering a multifunctional platform.

    ClickUp has performance management features that make it a good business option. ClickUp allows managers to track employee performance within the context of larger projects, allowing for a seamless workflow between project goals and individual performance.

    Key features:

    • Task and project management
    • Goal setting and tracking
    • Continuous performance reviews
    • Integration with various third-party tools
    Pros Cons
    Combines project and performance management It can feel cluttered with too many features
    Customizable workflows Some users report a steep learning curve
    Strong task management features Limited focus on employee engagement
    Multiple integration options Performance features feel secondary to project management

    16. AssessTEAM

    assessteamWhy we pick it: AssessTEAM offers a comprehensive approach to gathering feedback from multiple stakeholders.

    AssessTEAM is a tool designed to provide comprehensive insights into employee performance by collecting input from various sources—managers, peers, and subordinates. This multi-source feedback model offers a balanced view of performance, encouraging growth and accountability.

    Key features:

    • Multi-source feedback system
    • Actionable feedback reports
    • Performance insights based on feedback
    • Continuous performance evaluations
    Pros Cons
    Holistic view of performance Complex setup process
    Comprehensive feedback options Limited integration with other systems
    Adaptable for multiple industries It can feel overwhelming for new users
    Feedback-based performance tracking Lacks mobile accessibility

    How to Choose Application Performance Management Tools

    Business People, imagine if your company, which is ready to implement performance management tools, chooses a vendor that does not comply with local regulations in the Philippines. Not only will this hinder you, but your investment funds could be wasted.

    You will have to spend more and invest in another system that synergizes with business needs in the Philippines. Hay naku, ito ay kakila-kilabot! Therefore, preventing the wrong choice by following these steps will help you to choose the best HR software vendor.

    • Identify your specific performance monitoring needs to ensure the tool meets your organization’s requirements.
    • Evaluate critical features such as real-time monitoring, reporting capabilities, and user-friendliness.
    • Consider integration with existing systems to ensure seamless functionality and data flow.
    • Assess scalability to ensure the tool can grow with your organization’s needs.
    • Read user reviews and case studies to gain insights into the tool’s effectiveness in real-world scenarios.
    • Compare pricing models to find a solution that fits your budget while providing the necessary features.

    Conclusion

    Performance management tools are vital for organizations aiming to boost employee productivity and align individual goals with business objectives. Specifically, they provide numerous benefits if you carefully assess some aspects and choose the best employee performance management tools.

    For companies in the Philippines, HashMicro is the top choice among the other 15 vendors. Moreover, its features effectively meet business needs, and the free demo allows potential clients to explore the platform firsthand. Therefore, start your journey to better performance management with HashMicro today!

    HRM

    FAQ About ERP for Pharmaceutical Industry

    • What are the 4 Ps of performance management?

      The 4 P’s of Performance are priorities, people, processes, and practices.

    • What is KPI management tool?

      KPI management involves strategically setting, tracking, monitoring, and evaluating Key Performance Indicators (KPIs) that are important to an organization’s decision-making and achieving its strategic objectives.

    • How do you handle underperforming employees?

      Handling underperforming employees starts with identifying the issue and understanding the root cause. Open communication is key to addressing concerns and setting clear expectations. Provide support through training or guidance, and create an improvement plan with measurable goals. Regularly monitor progress, offer feedback, and consider further actions according to company policy if no improvement occurs.

    Nabila Zulfa Damayanti
    Nabila Zulfa Damayanti
    Nabila Zulfa is an experienced content writer who specializes in technology. With the ability to simplify complex concepts, she is trusted due to her industry insights and solid research that results in informative and engaging content.
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