Profit.co Alternatives for OKR & Performance Management

An OKR tool becomes imperative for businesses as it helps to align individual and team goals with overall business objectives. It enables easy tracking of progress and improves overall performance. By providing a clear framework for goal setting, an OKR tool can help organizations create alignment across teams, increase transparency and accountability, and ensure everyone is working towards the same objectives.

Profit.co is one such popular choice for many companies, offering a wide range of features such as goal-setting, OKRs, and employee performance tracking. However, while Profit.co is a great solution for some organizations, it’s not always the perfect fit for everyone. There are plenty of alternatives available on the market to choose from based on your needs.

In this blog, we’ll explore some of the top Profit.co alternatives, their features, and pricing to help you make an informed decision and find the right solution for your business needs.

What is Profit.co Tool

Profit.co is a cloud-based performance management software that helps businesses and organizations to set, track, and achieve their goals using the OKR methodology. The software enables businesses to align their goals across different teams, departments, and individuals, providing real-time updates on progress and performance.

Some of the key features of Profit.co include goal-setting, progress tracking, collaboration tools, employee performance monitoring, and analytics.

Pros of Profit.co 

• Profit.co provides a complete range of tools and functionalities to support strategy execution and performance management, encompassing key features such as OKR management, progress tracking, collaboration tools, and reporting and analytics.

• It is very user-friendly, providing a streamlined approach to inputting and executing OKRs in a clear and structured way. The user interface and user experience are straightforward and intuitive, making it easy to understand and use.

• It allows customization options to cater to specific industries. Users can personalize the platform according to their specific requirements and preferences, such as customizing dashboards, reports, and templates; and integrating with other tools and systems for an integrated workflow.

Cons of Profit.co 

• The OKR software can appear complex with multiple limitations on alignment, mapping objectives to KRs, and selecting KPIs, making it challenging for novice users to familiarize themselves with the software.

• Sometimes managing an overview of the platform can be challenging due to the multitude of features available.

Top 5 Profit.co Alternatives to Choose From 

1. Peoplebox

Peoplebox is a performance management software that helps businesses and organizations to manage their goals and workforce effectively. The software provides a range of features for performance tracking, goal-setting, feedback, and engagement to improve employee productivity and performance. With Peoplebox, businesses can set goals and track employee performance against those goals, providing regular feedback to employees and collaborating for improvement. 

Peoplebox allows integration with well-known work tools such as SQL, Jira, Hubspot, and Asana to simplify goals alignment, tracking, and business review meetings, resulting in more accessible and efficient performance reviews. Peoplebox is used by over 500 leading companies, including Razorpay, Veriff, Disney, Postman, Khatabook, and Exotel, to achieve quicker results and is backed by Y Combinator. 

Razorpay Case Study: How Razorpay executes strategy faster with Peoplebox

Khatabook Case Study: How Khatabook streamlined their performance reviews

Notable features

1. Conducting 360-degree performance review using Slack

Peoplebox provides a top-notch performance review module that can be entirely managed through Slack. The 360-degree review simplifies everything from auto-updating OKRs and KPIs in real-time to customizing the review process as per your requirements. The platform enables scheduling 1:1s for data reviews and comes with additional features like nudges, reminders, self-reviews, goal check-ins, and performance tracking – all within Slack for a streamlined experience.

2. Customized dashboards

Peoplebox offers customizable dashboards to conduct effective business reviews. Users can create personalized dashboards, add KPIs, charts, action items, and narrations to track OKR progress automatically. This feature enables early identification of potential roadblocks, enabling teams to focus on resolving them during weekly and monthly business review meetings.

3. KPI Board

Peoplebox’s KPI Board feature makes it effortless to incorporate OKRs and KPIs in your business review meetings, making the review process seamless and freeing up more time to tackle roadblocks. It even enhances your team’s ability to execute strategic goals and achieve better outcomes.

4. Integrates with more than 100 native tools

Peoplebox integrates with more than 100 native tools such as Slack, Jira, Asana, MySQL, Google Sheets, Salesforce, and many more. It also ensures that your objectives are automatically updated in real time across all of these integrated tools. With auto-populated dashboards, conducting effective business reviews and weekly check-ins becomes very easy and convenient. 

5. Single Page App

The streamlined design of Peoplebox, provides a single-page view of all company goals, team tasks, individual performances, progress reports, charts, etc. This user-friendly approach simplifies navigation, making it easy to set and monitor goals. 

Pros of Peoplebox

• Automatic tracking of OKRs, follow-ups, reminders, and auto-generation of business review reports.

• Capability to establish individual, team, and company KPIs and monitor them in weekly, monthly, quarterly, or yearly views.

• The one-on-one meeting feature is extremely beneficial for maintaining regular communication with team members and keeping them updated.

• Peoplebox offers useful resources and guidance to managers for enhancing their management skills and promoting a more productive and positive team culture

Cons of Peoplebox

• Limited language support 

• It can sometimes become overwhelming for struggling businesses to see the accurate and clear presentation of business growth.

Pricing 

• $7/ month/ person billed annually for professional package

• $15/ month/ person billed annually for Premium package

2. Lattice

Lattice is a cloud-based HR and performance management platform that provides tools for goal setting, performance reviews, feedback, and employee engagement. It is designed to help companies build and manage high-performing teams by providing them with the tools they need to set and track goals, provide regular feedback, and conduct effective performance evaluations. 

Notable features 

1. Powerful Analytics

Lattice offers robust analytics capabilities that empower HR professionals to make data-driven decisions by tracking performance, and identifying patterns, and trends. The platform’s analytics feature includes AI-powered sentiment analysis to understand employee emotions and feelings.

2. Robust Performance Management

Lattice is an all-in-one performance management tool that includes features such as performance reviews, 1:1s, and continuous feedback to help managers stay up-to-date with their team’s progress. The platform provides a comprehensive solution for managing employee performance, ensuring timely and effective feedback, and improving overall team productivity.

3. Lattice Engagement

Lattice Engagement is a unique employee experience solution that assists companies in determining the factors that keep their employees engaged. It combines performance metrics to provide in-depth insights and offers guidance on the most impactful actions that can be taken by the company.

Pros of Lattice

• Lattice is a perfect solution for companies seeking to implement a complete performance management approach. 

• Its robust features can assist organizations in creating a strategy based on the best practices in the industry for compensation, employee engagement, and performance.

• The employee engagement feature offers in-depth reporting. Its powerful evaluation tools allow managers to track employee performance and offer guidance on how they can optimize their goals.

Cons of Lattice

• The mobile application of Lattice does not offer a seamless and user-friendly experience as some necessary features may be missing or not optimized for mobile use, thus posing a challenge in accessing vital information.

• Lattice does not have the option to mark goals as completed which leads to you getting continuous reminders unless you delete the goals.

Pricing

$11 person/month for performance management OKR & Goals

3. 15Five

15Five is a performance management software designed to help organizations improve employee engagement, productivity, and performance. It offers a range of features, including weekly check-ins, goal setting and tracking, performance reviews, and employee recognition. The tool provides a platform for managers and employees to communicate and collaborate, facilitating regular feedback and coaching. 

Notable features

1. Robust Performance Management

15Five offers a user-friendly performance management solution with a 360-degree view of employees. This helps HR leaders to make informed decisions. The platform is flexible and can be easily customized to fit any HR strategy, company culture, or tech stack. 

2. OKR and Goal Setting

15Five makes achieving total organizational alignment, crystal-clear focus, and highly engaged teams easy. The platform makes OKRs and goal setting easier by helping set and track top objectives for everyone in your organization. 

3. Training and Coaching

15Five provides on demand live coaching and training that helps in driving better results. Enable managers to establish compelling and impactful objectives and impart them with the necessary abilities to eliminate obstacles and maximize their team’s potential.

Pros of 15Five

• Tracking progress and obtaining feedback is easy with 15Five.

• It offers an extensive framework, simplifying the process of generating review summaries on a regular basis. 

Cons of 15Five

• The assistance provided by the support team is not as effective as it should be, with response times taking two or more days.

• The engagement survey tool is also not optimum. Sometimes it fails to perform basic functions such as targeting surveys to specific teams or previewing.

Pricing

$8/per user per month for OKR Management

4. Leapsome

Leapsome is a cloud-based performance management software platform that enables organizations to manage employee performance, feedback, and engagement. It provides a range of features, including goal setting, continuous feedback, performance reviews, employee surveys, and analytics. 

Notable features 

1. Goal Tree

With Leapsome Goal Tree, you can link company, team, and individual goals together, creating a tree that showcases the ownership and interdependence of OKRs. 

2. Collaboration 

Leapsome enables you to share and take feedback on goals, engage in discussions, and leave comments to track progress creating an environment of collaboration in the workplace. 

3. Tailor-made OKR frameworks

Leapsome empowers companies with tailor-made OKR frameworks that align with their unique objectives and goals. The platform provides a personalized and adaptable dashboard where you can create, monitor, and update your objectives and key results while tracking progress.

Pros of Leapsome 

• The platform is user-friendly, which is a major pro. It comes with clear instructions that enhance the overall user experience. The design is visually appealing, and the user interface is intuitive.

• Leapsome allows customization according to individual objectives and requirements. The software offers a variety of modules and features that can be tailored to fit different business models and workflows.

• Leapsome streamlines people enablement through various features, such as notifications, history tracking, goal creation, surveys, quick actions, and a suggestion box. Regardless of the size of your organization, it offers a comprehensive solution serving as a one-stop-shop for all your needs.

Cons of Leapsome

• The platform’s navigation is a little challenging when it has multiple layers. It could benefit from additional options in its search functionality, such as searching by role or finding someone’s manager.

• The platform presents a vast array of options at first glance. It would be useful if the user can hide or customize these options based on preferences without requiring HR support or approval. 

Pricing

Starts from 8 USD per user per month

5. Asana

Asana is a project management and collaboration software that allows teams to manage and track their work in a unified workspace. It offers features such as task and project management, team communication, file sharing, and progress tracking. Asana can be used by teams of all sizes across various industries and is available on desktop and mobile devices.

Notable features

1. Project Planning and Management

The platform offers a powerful project planning and management feature that enables you to stay on track with your timelines, manage work requests efficiently, and commence projects quickly. 

2. Workflow builder

It allows you to effortlessly coordinate work across teams by utilizing a visual tool to connect teams, organize work, and optimize projects in a single location, resulting in more efficient workflows.

3. Real-time reports

It provides real-time project dashboards and data in one location. This feature allows you to monitor progress across all tasks and projects, tracking the amount of work completed and what remains to be done. 

Pros of Asana

• It provides controlled visibility through its private and comment-only project features, safeguarding sensitive work and ensuring data integrity. 

• It is a great tool for optimizing both daily activities and tasks, as well as large-scale projects, to streamline workflows and increase productivity.

• It has an intuitive UI which makes it easy for users to navigate and understand, even for non-technical users.

Cons of Asana

• It can be overwhelming to use the entire tool initially due to its comprehensive nature and various solutions offered.

• It falls more on the expensive side compared to other tools

Pricing

• US$10.99 Per user, per month, billed annually

• US$ 13.49 Per user, per month, billed monthly

Final Words

There are several alternatives to Profit.co that offer similar or even better features for performance management and OKR tracking. Choosing the right tool for your organization depends on several factors, such as the size of your company, specific needs, budget, and user experience. It’s essential to evaluate different options, read reviews, and even try out demos or free trials to find the best fit for your team. 

Remember to consider factors like customization options, ease of use, and integration with other tools to ensure that the tool you choose will effectively serve your organization’s goals and objectives. With careful consideration, you can find a performance management tool that will help your team set, track, and achieve their goals with ease.