Best Performance Review Software to Drive Growth in 2024

Trakstar is a leading performance review software that enables customized and efficient performance assessments towards goal progression. It features customizable evaluation options, automated workflows, and data analytics to facilitate a streamlined and effective performance review process.

With Trakstar, you can adapt your evaluations into various review focuses, from quantifiable metrics to soft skills. Its customizable features, 360-degree feedback and real-time insights capabilities, and integrated learning opportunities (Trakstar Learn) make it an ideal choice for managers who want to foster a culture of continuous improvement and talent development. 

Trakstar Perform can deliver notifications and reminders through your Slack channels once integrated. It can also connected to HR systems, including ADP Workforce Now, BambooHR, Paylocity, and UKG Pro.

Trakstar Perform’s Key Features

• Customizable evaluation templates - allow you to tailor assessments to align with specific job roles, performance metrics, or soft skills. This helps ensure your review process is directly relevant to teams’ and organizational goals. 
• Automated workflows - simplify performance review scheduling, tracking, approval, and completion. Automating reminders and follow-ups reduces administrative struggles and ensures that reviews are completed on time.
• 360-degree feedback - gathers feedback from peers, subordinates, and supervisors. Through self-assessment features, team members can also evaluate their performance based on preset criteria and questions. This holistic view of performance supports a more balanced and objective personal and professional development evaluation.
• Real-time feedback - Trakstar also offers a platform (Perform’s Notes and Manager Check-ins) for ongoing feedback outside formal review cycles.
• Data analytics - provides powerful insights into performance trends and areas for improvement across individuals and teams. 

Trakstar Perform’s Pros and Cons

Pros:

• It covers all aspects of performance, goal management, and feedback in a single platform.
• Provides a high degree of customization for the appraisal process to meet different teams' needs.
• Users reported helpful and responsive customer support for onboarding and addressing new queries.

Cons:

• It requires a learning curve to understand the flows and all features fully.
• It doesn’t support bulk editing or deleting (like when you want to adjust measurements or rating scales in different review processes). You have to do it manually, one by one.

Trakstar Rating

• G2: 4.2/5 (450 reviews)
• Capterra: 4.5/5 (285 reviews)

Featured User Quote

“I like that Trakstar offers so many different features. It's not my first rodeo with Trakstar because I have used it with other companies I have been to before, and let me tell you, it never disappoints. It's very easy to navigate and implement. We recently started using the 360 reviews, and the best part is their customer support. They are very quick to respond whenever there are any glitches or if I have any questions. We use it regularly for our annual performance reviews. Another feature we use is Sales Performance. It offers a variety of metrics, and it's easy for us to evaluate performance. Overall, we are happy happy with it and will continue using it.” - Kiran C., G2 user.

Trakstar Perform Pricing

Trakstar provides custom pricing based on your team size and specific needs. You need to complete the form on its pricing page and wait for the team to get back to you with the customized quote.

PerformYard is a user-friendly performance review software that helps you streamline the process of performance evaluations - from setting up and conducting to following up.

PerformYard makes setting up new review cycles straightforward and supports various review types. You can create many review templates based on your requirements and launch them in batches for all members or role-based groups. 

PerformYard allows you to seamlessly connect with employee data in your existing HRIS systems via direct integrations or SFTP. Also, it allows you to give feedback and recognition through your communication channels, including Slack and Microsoft Teams.

PerformYard’s Key Features

• Customizable review forms - allows you to design assessments that reflect the unique needs and criteria of different roles across departments. This helps you ensure your performance reviews are most relevant and meaningful. 
• 360-degree feedback - allows anonymous feedback and customizable nomination options (who review who). PerformYard makes things frictionless for you and your team members by guiding them through the entire feedback cycle and alerting them to complete each step.
• Continuous feedback loop - allows you to exchange feedback regularly within the platform or in Slack channels. Feedback given through PerformYard will be stored there so that you have well-rounded perspectives when it comes to the annual review. 
• Goal setting and tracking - You can also create measurable goals for your team members, track progress, and adjust as needed to ensure their performance aligns with broader team objectives. 
• Visualized insights - You can visualize data from performance reviews to spot the top performers or compare team performance on different aspects. 

PerformYard’s Pros and Cons

Pros:

• Intuitive interface that simplifies the performance review process for HRs, managers, and team members alike.
• Automatically send (a lot of) reminders to ensure your performance review process is completed on time.
• Integration options allow you to use the software on top of your existing HR systems and communication channels. 

Cons:

• Some users reported needing more in-depth analytics and reporting.
• Automated reminders are good, but there is no option to change the frequency of those reminders. This may result in an overloaded mailbox.

PerformYard Rating

• G2: 4.7/5 (811 reviews)
• Capterra: 4.8/5 (88 reviews)

Featured User Quote

“I especially like how easy it is to do performance reviews through PerformYard. When I started my newest job, I was told we would be doing quarterly self-reviews and manager reviews. At first, I found the idea very intimidating, but with PerformYard, I was surprised by how easy it was. After my manager and I both fill out our portions of the reviews, we go over them together, sign off on them, and we're done. Just as easy as that!” - Verified G2 user.

PerformYard Pricing

PerformYard pricing starts at $5 per person per month. You need to contact their team to get detailed quotes based on your team size and the required features.

Leapsome is a performance review software that allows you to manage performance evaluations and integrate them with learning and development initiatives.

Leapsome provides managers with tools to conduct in-depth performance reviews, set and track goals, and offer personalized development plans, all within a single platform. 

I found Leapsome is unique in its capabilities to create personalized learning paths for every team member and keep them engaged throughout the journey. 

You can provide associated tasks, training materials, 30-60-90 day plans, quizzes, and assessments for different roles and teams. This helps you structure and target learning and development experience more efficiently for your teams, both existing talents and new hires. 

Leapsome bridges the gap between performance reviews and professional development and is an ideal performance review solution for investing in your employees' growth.

Leapsome’s Key Features

• Customizable review templates - Leapsome provides premade editable performance review templates. You can choose one of them to get started or create your own with various question types and anonymous feedback options. 
• Personalized development plans - You can set and monitor individual and team goals with Leapsome and access your employee performance based on these objectives. According to the performance review outcomes, team members will find their way to relevant courses and training.
• 360-degree feedback - supports a comprehensive feedback mechanism that includes peers, direct reports, and managers for a well-rounded perspective on one’s performance.
• Instant private and public feedback - This feature allows people to give feedback to colleagues or direct reports right after 1:1 meetings and reviews as private feedback that is stored for continued development conversations or as public praise visible to the rest of the team.
• AI-enabled recommendations - Leapsome AI helps summarize insights and common themes from reviews and feedback so that you can quickly get what's happening among teams and create meaningful initiatives to drive employee growth and development.

Leapsome’s Pros and Cons

Pros:

• Uniquely integrates performance management with personalized learning opportunities.
• User-friendly interface
• Integrations with 50 platforms, from HRIS systems to communication tools, for seamless data connection and smooth workflows. 

Cons:

• The breadth of features may require a bit of a learning curve to make the most out of its functionality.

Leapsome Rating

• G2: 4.8/5 (1508 reviews)
• Capterra: 4.7/5 (59 reviews)

Featured User Quote

“My company uses Leapsome - before I joined, I had never heard of it. In my previous roles, I used different platforms, but switching over to Leapsome wasn't difficult; this is probably the most straightforward and easy-to-learn solution I've ever used. I was surprised with the overall user interface. Everything was neatly categorized, with clear instructions as to my tasks. It's great having an overview of the feedback I've received, my goals, my company's org chart, and more. It's so intuitive that I didn't have to ask for help not even once.” - Petros K., G2 user.

Leapsome Pricing

Leapsome's pricing is based on a per-user, per-month, and per-module. You need to request a demo for custom packages that match your specific needs and scales. It offers discounts for multi-module packages and a 14-day free trial.  Competency Framework, Instant Feedback, and Meetings modules are included in all plans.

Lattice is a performance review software that helps you foster employee engagement and performance through streamlined workflows. 

Lattice makes it easier for managers to conduct comprehensive evaluations, track progress toward objectives, and gather actionable feedback. Known for consistent 360-degree reviews, the software also supports 1:1 meetings, goal setting, and real-time feedback well, fostering a culture of ongoing communication and development​​.

Lattice’s Key Features

• Customizable review cycles - allows you to tailor the frequency, content, and format of your 360°, manager, and peer performance reviews. Lattice also offers ready-to-go templates and automated reminders so that you can start collecting insightful feedback and assess performance efficiently.
• Goals and OKR integration - Lattice's goal-setting feature integrates performance reviews and feedback mechanisms. This ensures that goals are set and actively monitored, enhancing accountability and visibility across teams.
• Growth motivations - With Lattice, you can set development goals, create growth plans, and define ​​career trajectories with your team members. By outlining what is required for the next level and making it visible to people in their performance review process, they will likely be more motivated and committed to their professional growth.
• Real-time feedback and praise - encourage ongoing dialogue between employees and managers to facilitate a culture of continuous improvement and recognition.
• Robust analytics - Lattice offers helpful insights into performance trends, goal progress, and survey outcomes in visually appealing and easy-to-understand reports. You can generate reports in different ways with different metrics to visualize performance trends and patterns.

Lattice’s Pros and Cons

Pros:

• Helps you optimize and streamline various performance management tasks, from reviews to goal tracking.
• It offers significant flexibility in configuring performance reviews and feedback mechanisms.
• The platform is user-friendly and easy to navigate
• Integrates with popular HRIS and productivity tools to streamline workflows.

Cons:

• The extensive features and customization options can initially overwhelm new users.
• While offering great value, it may be on the higher side for small teams with tight budgets.

Lattice Rating

• G2: 4.7/5 (3814 reviews) 
• Capterra: 4.5/5 (122 reviews)

Featured User Quote

“I love the UI design of the entire platform. The friendliness and simplicity of not only the administration of the tool but also all of the engagement and training materials- including Lattice University and Lattice's Help Desk. We have had several CSMs over the years, and each one has provided us with the best customer service experience. They really care about their customers. Their online customer care chat is always available for immediate response and assistance. We utilize many features including 1:1s, Updates, Feedback, Engagement Surveys, Goals/OKR tracking & Performance Reviews.” - Anne D., G2 user.

Lattice Pricing

Lattice’s Performance Management + OKRs & Goals package starts at $11 per person/month. If you only want to use performance review features, the plan starts at $8 per person/month. Custom pricing is available based on your scale and the specific features required.

BambooHR is a cloud-based HR software that handles various HR processes, including performance reviews. If you seek an all-encompassing tool that facilitates performance reviews and connects with broader HR workflows (like hiring, onboarding, and payroll), BambooHR is a good fit.

BambooHR offers enough features to enable successful performance reviews, including multiple review cycles, frequent and impromptu assessments, manager-led and peer reviews, and automated reminders. 

BambooHR’s Key Features

• Self and peer assessments - BambooHR facilitates self-evaluation and peer feedback, promoting a more rounded view of employee performance and fostering a culture of accountability and collaboration.
• Goal setting - enables managers and team members to set and track personal and team goals. This helps you align individual efforts with team objectives. 
• Employee satisfaction surveys - to gauge employee satisfaction and engagement, offering insights into the overall workplace climate.
• Reporting and analytics - It generates detailed reports on performance metrics and helps you identify trends, areas of improvement, and training opportunities.

BambooHR’s Pros and Cons

Pros:

• Simple and intuitive interface
• Integrates performance management with other HR functions like time-off tracking, payroll, and benefits administration, offering a one-stop solution for employee management.
• Rich integrations with third parties

Cons:

• Performance management features are add-ons for the Pro plan only. And it may be pricey for small teams or startups with a tight budget.

BambooHR Rating

• G2: 4.4/5 (1943 reviews)
• Capterra: 4.6/5 (2734 reviews)

Featured User Quote

“The ease of use and roll out as a new customer. Lots of great features such as performance management, signature setup for documents, custom reporting for most necessary data points, and customer service are always helpful and reachable. Bamboo releases new improvements and updated features pretty much on a monthly basis, so there are always new things coming out. The ATS system is basic but really gets the job done with a clean and organized way to manage multiple job postings.” - Paige F., G2 user.

BambooHR Pricing

BambooHR doesn’t disclose pricing details. Performance Management, along with Employee Experience & Rewards and Employee Community, is only available on the Pro plan.