Achieving annual revenue targets helps businesses progress and allows them to aim higher for the next year. Human resources (HR) software, particularly performance management software, can be really helpful in this regard as it increases the company's chances of reaching annual financial goals by up to 20%. 

PerformYard and Lattice are two software applications that could help companies track and manage employee performance and streamline HR processes, ultimately leading to an enhanced bottom line. 

We have compiled this PerformYard Vs Lattice guide so that you can compare their features and decide which one’s best for your business. 

PerformYard Vs Lattice: At A Glance

Features

PerformYard 

Lattice 

Goal Management 

Goal cascading and S.M.A.R.T goal system 

OKRs and S.M.A.R.T goal system 

Performance Reviews 

Custom review cycles and ‘Live Progress Dashboard’ 

Custom review templates and AI-assisted peer feedback 

Employee Engagement 

90 engagement benchmarks and anonymous surveys 

Live ‘Data Analysis Dashboard’ and AI-backed suggestions 

Employee Feedback 

One-on-one sessions, peer feedback, and evaluation notes 

Peer reviews, 1:1 meetings, and AI-assisted writing 

Reporting And Analytics 

9-box grids and data visualization 

Centralized dashboard and research-backed suggestions 

What Is PerformYard?

PerformYard is an all-encompassing performance management software that allows companies to manage goals, improve employee performance, and make informed decisions for employee training. To achieve this, it offers a range of features and tools. 

These include employee appraisals, 360-degree reviews, manager evaluations, and performance trends. The platform is ideal for use in consulting, accounting, finance, marketing, and healthcare industries due to its intuitive interface. 

Unique Features Of PerformYard 

  • Performance Improvement Plans (PIPs): Provide employees with clear steps and equip managers with tools to help workers address performance gaps 
  • eNPS Tracking: Measures employee engagement data and identifies trends to enhance overall workforce performance 
  • Historical Performance: Tracks and keeps a record of historical performance data, allowing managers to see how much employees have improved over time 
  • Dynamic Employee Cohorting: Helps provide detailed insights by grouping employees on specific criteria, fostering collective development and growth 

Pros And Cons Of PerformYard 

Pros 

  • Employee reviews are beneficial in creating a meaningful impact on individual and team growth 
  • It’s flexible and allows customizability for creating review cycles, performance criteria, and evaluation processes 
  • The software seamlessly integrates into a company’s workflows, enhancing productivity and saving time 

Cons 

  • After completion, goals are removed from your progress, which can cause a drop in completion rate 
  • Notifications and alerts can sometimes be delayed, making it harder to stay updated with recent reviews 

What Is Lattice?

Lattice HR is an AI-powered platform that aims to help organizations track and manage workforce performance. The software offers a range of functionalities, including performance reviews, one-on-one meetings, OKRs, and goal management. Companies can leverage these features to monitor individual employee performance, enhance overall productivity, and foster a growth-oriented company culture.

Its features make it an ideal choice in the finance, technology, life sciences, and entertainment sectors. 

Unique Features Of Lattice 

  • Talent Reviews: Enables businesses to evaluate an employee’s unique talent and interests, helping them plan training programs accordingly 
  • Individual Development Plans (IDPs): Carefully crafted development plans that align with an employee's professional career and strengths, helping them make more progress in less time 
  • Lattice AI: An integrated AI tool that assists managers in decision-making, writing, and analyzing performance insights 
  • Compensation Band: Ensures a fair and transparent salary structure by defining salary ranges for specific roles and encouraging fair promotions 

Pros And Cons Of Lattice 

Pros 

  • There are multiple options to share updates on a bi-weekly, weekly, or monthly basis 
  • Allows employees to provide suggestions for their co-workers and submit them online 
  • Offers both pre-built and customized templates for one-on-one meetings 

Cons 

  • The review cycle could be simplified, as it involves multiple steps 
  • There is no chat tool or messaging function to communicate with managers and employees within the platform 

PerformYard Vs Lattice – Key Features Comparison

Goal Management

PerformYard’s ‘Goal cascading’ feature allows businesses to break down larger, company-wide goals into smaller, achievable, and easily measurable targets. These broken-down objectives are less stressful for employees and result in more progress. Moreover, the software uses the S.M.A.R.T goal system, which is short for (specific, measurable, achievable, relevant, and time-bound).

This system ensures that goals are designed while keeping in mind the skill level of employees. Furthermore, the platform equips managers with visualization tools to better comprehend performance data and suggest improvements.

Lattice offers flexible goal-setting options and visualization tools, allowing managers to define objectives and key results (OKR) and present them for better decision-making. These objectives provide employees with a clear vision of what’s expected and encourage them to seek guidance on achieving them.

It also uses the S.M.A.R.T goal system to ensure employees make real progress that complements an organization’s growth. Additionally, the platform integrates with third-party applications like Slack, Salesforce, and Jira, displaying goals in an employee’s daily workflows. This integration keeps employees aligned with company objectives and drives more engagement.

Winner: Both platforms offer strong tools for goal tracking and alignment. However, Lattice HR wins by a slight margin as it allows goals to be displayed directly in applications like Slack and Jira.

Performance Reviews

PerformYard allows businesses to customize their review cycles by creating timelines and questionnaires that support their goals. Managers can use the ‘Live Progress Dashboard’ to track these review cycles with detailed insights and ensure they are completed on time.

Furthermore, administrators can integrate self-assessment forms, providing a regular review of employee performance. All this data can be visualized in a number of ways to foster better decision-making.

Lattice enables managers to create customized review templates and workflows and access a detailed dashboard to align employee performance with company objectives. Its AI-powered peer review summaries provide an unbiased overview of employee performance, ensuring managers get the right information while saving time.

The platform integrates goals and OKRs data into reviews, providing essential information in a single place and helping reviewers analyze data efficiently.

Winner: It’s a tie as both software offers a number of tools to review, customize, and utilize performance reviews and the associated data.

Employee Engagement

PerformYard allows managers to send anonymous surveys to employees, ensuring companies know the real employee sentiments regarding their company, workflows, and management. With its ‘PerformYard Engagement Survey’, managers can send pre-built questions to enhance employee engagement. This data helps organizations make their process more user-friendly, driving more engagement.

Additionally, its ‘Data Analysis Dashboard’ allows managers to access detailed insights like participation rates and satisfaction factors, enabling businesses to assess what’s working and what’s not.

Lattice allows users to utilize around 90 engagement benchmarks that help them compare their company’s engagement data with their competitors. This comparison enables them to adopt an effective approach to increasing employee engagement and retaining top talent. The platform’s artificial intelligence tool, Lattice AI, provides research-backed suggestions, key engagement driver analysis, and feedback trends.

These statistics allow businesses to improve workforce strategies, foster better company values, and increase participation rates. Furthermore, businesses can design and implement tailored onboarding and existing surveys to capture relevant and accurate information. These insights help them pinpoint issues in their onboarding process and identify issues that result in employees leaving the company.

Winner: Lattice takes the lead, offering AI-powered analysis and enabling companies to compare their data using engagement benchmarks.

Feedback

PerformYard allows supervisors to share good feedback publicly, encouraging and valuing employees in their workplace. The platform also offers tools to quickly arrange 1:1 sessions for helping and guiding employees.

Line managers can request peer review from fellow workers, which helps them consider and evaluate factors that are otherwise not identified. Additionally, it stores feedback notes, which can be accessed in annual reviews.

Lattice also enables employees and managers to provide peer feedback and set up one-on-one meetings. This offers regular employees’ opinions on company policies, helping organizations develop an environment of collaboration and continuous improvement.

On top of that, the software offers AI-backed assistance to managers when writing reviews for their teams based on the input they have received.

Winner: Again, this section ends in a tie as both software offers a range of effective tools for continuous and accurate feedback.

Reporting And Analytics

PerformYard offers a range of tools to spot patterns in review cycles, identify top performers, and plot results, allowing managers to implement employee development and improvement strategies. Its ‘Nine-box grids’ allow employers to visualize employee potential and performance data, enabling them to identify exceptional workers.

Furthermore, its customization tools empower managers to get access to the information at the right time with the ability to filter data based on review cycles, review types, employee groups, and dates.

Lattice allows managers to customize data visualization options, ensuring managers realize workforce potential and support career goals for individuals. The software also centralizes employee data related to demographics, performance, and engagement into dashboards for a company-wide overview.

Additionally, through its research-backed suggestions, real-time tracking, and action plans, managers can ensure a better employee experience and supportive workplace.

Winner: PerformYard wins since it offers detailed analytics and reporting features, such as nine-box grids and filtering tools.

Final Verdict – Which HR Software Is Better?

When comparing PerformYard vs Lattice, it’s clear that both offer strong tools to help organizations gauge employee performance, allowing them to align their workforce with company objectives. 

PerformYard could be an ideal choice for your business if you want a comprehensive performance management solution with tools like one-on-one surveys, engagement benchmarking, and data visualization. Lattice, on the other hand, could be a bit overbuilt for smaller companies but is extremely valuable for large ones due to its extensive offerings and AI-powered data analysis. 

The final decision should be based on your specific requirements and budgets. We also highly recommend discussing the needed functionalities and available options with your company stakeholders and credible software consultants.