Top 10: Employee Performance Management software

Updated: July 31, 2023

Performance management is a systematic process designed to monitor, measure, and improve individual and organizational performance. It involves setting clear performance goals and expectations, providing regular feedback and coaching, and evaluating employee performance against these objectives. Performance management aims to align employee efforts with organizational goals, identify strengths and areas for improvement, and support employee development and growth. It often includes performance appraisals, goal setting, performance feedback, and development planning. By implementing effective performance management practices, organizations can enhance employee productivity, motivation, and engagement, leading to improved overall performance and success. Some of the most popular employee performance management software options are listed below.

See also: Top 10 Talent Management Systems

2021. Jedox raises $100M to expand its financial modeling and analytics software to more verticals

Jedox, a German startup specializing in financial planning and analysis tools, has secured a funding round of over $100 million. Jedox's software was initially designed to assist financial planners by utilizing data from common documents like Excel spreadsheets, and it was compatible with both on-premises and cloud environments. In recent years, the company has expanded its offerings to include HR planning and procurement, catering to a broader range of users. With the new funding, Jedox aims to further broaden its application by targeting additional use cases and industry verticals.

2019. 15Five raised $30.7M to expand its employee development toolkit

15Five, a company specializing in software and services to facilitate performance evaluation and goal-setting for organizations and employees, has successfully concluded a Series B funding round, raising $30.7 million. The company intends to utilize this capital to further enhance the functionality of its core product, which revolves around self-evaluations that require just "15 minutes to write, 5 minutes to read." Additionally, 15Five plans to expand its offerings by introducing new services to complement its existing platform. Alongside productizing these principles into software, the company aims to incorporate additional coaching and services, augmenting its current SaaS model. 15Five's approach revolves around creating a user-friendly method for employees to regularly consider and establish their goals.

2017. Zenefits added performance management tool

HR management service Zenefits has introduced a new in-house performance tracking tool for employees as part of its strategy to become a comprehensive HR solution for small businesses. Alongside features such as reviews and goals, the tool will gradually incorporate check-ins and peer reviews. While these aspects may sometimes be neglected or considered secondary in smaller companies, Zenefits aims to streamline the process and introduce advanced corporate practices to smaller businesses.

2015. Cloud business intelligence service Adaptive Insights gets $75M

Cloud-based services provider Adaptive Insights has secured $75 million in funding. The company specializes in offering finance and management teams tools to model a company's performance and enhance business intelligence through its cloud-based solutions. Adaptive Insights is recognized as a key player in the field of "corporate performance management" (CPM), which refers to the process of optimizing and improving a company's performance. It's important to note that this term can sometimes cause confusion when used in the context of online advertising teams seeking to improve their "cost per thousand impressions" (CPM). The growing popularity of cloud computing and the accessibility of big data services to non-technical professionals have provided Adaptive Insights with an opportunity to expand its services to a broader range of business professionals. As organizations increasingly demand data-driven products to support their decision-making processes, Adaptive Insights aims to meet this demand and cater to a wider audience within the business community.