The 5 Best 360 Degree Feedback Software for Performance Management

In the modern business landscape, you must recognize the importance of employee feedback. It's the cornerstone of a high-performing company culture, where employees feel valued and rewarded. That may be why the global 360 degree feedback software market is booming and expected to grow from $1 billion to $2.1 billion by 2030. This more comprehensive feedback is where tools like Plai come into play, providing an overall perspective on an employee's performance from multiple perspectives.

Considering all that, it is time to look at the best 360 degree feedback software for performance management. Explore how we made the list and what candidates make their way on it.

Criteria for choosing 360 degree feedback software

When selecting 360 degree feedback software, consider the following criteria:

Ease of use. The software should have a user-friendly interface that makes it easy for managers and employees to use.
Customizability of questionnaires. The software should allow for the customization of feedback forms to suit your organization specific needs.
Integration with other performance management tools. The software should integrate smoothly with other tools used in your organization.
Scalability. As your organization grows, the software needs to scale and adapt to your changing needs.
Data visualization and interpretation. The software should provide clear and insightful reports that help you understand the feedback and make informed decisions.

Top 5 360 degree feedback software for performance management

Plai

Plai is a performance management software and 360 degree feedback tool designed to create a high-performing culture where employees feel rewarded. It offers flexible HR tools to coach and steer teams toward success, integrating seamlessly with calendars, HR systems, and identity management providers. With features like goal-setting, performance reviews, peer-to-peer feedback, and more, Plai simplifies the performance management process, making it faster, easier, and less stressful for various team types.

Plai highlights

Innovative features. Plai offers OKRs (Objectives and Key Results), automated review cycles, peer-to-peer feedback, growth plans, praise, and employee surveys.
User-friendly interface. Rated highly for design and ease of use, Plai’s intuitive interface doesn’t require extensive training or onboarding.
Advanced analytics. Integrated reports on employee performance, goals, and engagement provide insights to identify trends and decrease attrition.
Integration capabilities. Plai can seamlessly integrate with Slack/MC Teams, calendars, HR systems, and identity management providers.
Data security measures. Data security is a priority, with robust measures in place to protect sensitive information.
Competitive pricing. Offering monthly plans with no minimum commitment and lower costs. For only $2.4/month/user Plai is a suitable fit for small and medium-sized businesses (SMBs).

Testimonials

Plai has received glowing user reviews, highlighting its positive impact on various aspects of the employee experience and lifecycle organizational success. For instance, the platform stood out as a 360 degree feedback software and received this kind of praise:

Such reviews are paramount for the best 360 degree feedback software, especially considering the post-COVID trend of employees valuing feedback more than ever.

Path toward innovation with Plai

Plai leverages artificial intelligence to assist managers through AI summaries of performance reviews. This feature extracts information from employee reviews, both grades and written feedback, highlighting the most important findings and recommendations on employee performance.

Managers can generate concise AI-generated employee evaluation summaries to identify strengths and areas for improvement easily. Ultimately, it leads to more insights managers can use for more effective performance management and improved employee performance.

Lattice

Lattice is an HR and 360 degree feedback software offering a range of performance management features. The people behind this tool designed it to assist companies in managing performance with features like goal tracking, 1-on-1s, and more.

Features

Real-time feedback: It allows for real-time feedback, enhancing communication within teams
Employee satisfaction and engagement: The platform measures and boosts employee satisfaction and engagement.
Professional growth: Lattice helps employees grow professionally through 1-on-1 meetings and feedback.
People analytics: It provides people analytics to help businesses better understand their employees and make data-driven decisions.

Strengths

User-friendly interface
Robust analytics
Numerous integrations

Weaknesses

An overwhelming number of features leads to a steep learning curve and longer onboarding
Not a good fit for small organizations
Users report occasional bugs and glitches

Comparison with Plai and others

While Lattice offers a comprehensive suite of tools for improving employee development and performance, it may not be as intuitive as Plai. With Plai, users get a 360 degree feedback software with fast and painless onboarding. Its AI-powered summaries for managers, direct reports, advanced analytics, and competitive pricing make it a great fit for various organizations. Considering 74% of them are rethinking their performance management processes, aspects like intuitiveness and price are at the top for choosing the right tool.

Lattice has much going for it when you compare it to other tools. Unlike Culture Amp, which is all about company culture, Lattice gives you more ways to manage performance with real-time feedback and analytics. EchoSpan is more old-school with its competency libraries, while Peoplebox is big on tech like Natural Language Processing.

Culture Amp

Culture Amp is a culture-first 360 degree feedback software that provides anonymous feedback to help companies build a better workplace. Anonymous feedback focuses on delivering actionable insights that drive business outcomes and increase employee retention. Experts designed the platform to make it easy for companies to collect, understand, and act on employee feedback, thereby improving their corporate culture.

Stand out features

Powerful analytics. Culture Amp offers robust analytics tools that help you understand your team performance and engagement levels.
1-on-1s. Culture Amp facilitates meaningful one-on-one conversations between managers and employees, fostering better relationships and understanding.
Goal/OKR tracking. The software allows you to track goals and OKRs, ensuring everyone is aligned and working towards the same objectives.
Skills coach. Culture Amp includes a Skills Coach feature that aids in the continuous development of your team members.

Usability

Culture-first focus
Easy collection and analysis of feedback
Robust analytics tools
Facilitates one-on-one conversations

Benefits to organizations

Provides actionable insights to drive business outcomes
Increases employee retention
Improves corporate culture
May not be suitable for large organizations due to limited integration options

Comparison to Plai

Looking at Culture Amp and Plai, you'll see some key differences. Culture Amp focuses on building a strong company culture to drive employee development, while Plai is about setting goals and managing performance. They both have great features for reviews and feedback, but Culture Amp shines when it comes to collecting feedback. Conversely, Plai has the edge with its AI-driven analytics and smooth integration with other tools. So, depending on your organization's needs, either one could be the right fit!

EchoSpan

EchoSpan is a web-based 360 degree feedback software and one of Lattice competitors that caters to various project needs and budgets. It offers three editions: Starter, Professional, and Enterprise. Each edition is priced based on its specific features and the number of people being reviewed.

Capabilities

360-degree feedback. It allows custom feedback projects, with options to tailor the rating scale, competencies, and questions to fit your organization's needs.
Development planning. This feature includes a library of development tips that employees can use to improve in areas identified in their feedback.
Competency library. Each competency includes a definition and a set of behaviors that exemplify that competency.
Automated reminders. You can customize the frequency duration and content of these reminders.

User experience

Traditional approach. Focuses on competency libraries and anonymous ratings for feedback.
Scalability and flexibility. Suitable for various project needs and budgets.
Instant setup. Quick start without lengthy preparations.
Interface. Some users may find it less intuitive, affecting the overall experience.

Integrations

HRIS, ERP, and enterprise systems integration. Seamless data exchange with platforms like SAP, Oracle, and Workday.
Cohesive workflow. Enables more streamlined processes within an organization.
Limited capabilities. Some users have reported limitations in integration options.

Comparison to Plai

Compared to Plai, EchoSpan offers a more traditional approach to people management with 360-degree feedback software focusing on competency libraries and anonymous ratings to collect feedback. However, it may not provide the same user experience in terms of user interface intuitiveness. While EchoSpan does offer a range of features and is suitable for various organizations, Plai's AI-driven approach and focus on real-time feedback may provide a more comprehensive and intuitive solution for performance management.

Peoplebox

Peoplebox is a 360 degree feedback software that enhances employee engagement and productivity. The tool's key objective is to improve employee communication and foster a culture of self-service and accountability among employees, promoting ongoing, constructive feedback dialogues across various platforms such as online forms such as email, chat, and mobile environments.