Why companies are doing away with the annual performance reviewThe Annual Performance Review is almost universally hated by managers and employees. For decades, it has been the tool of choice for evaluating the performance of employees and their overall value to the company.
Research conducted by the Corporate Executive Board (CEB), found that 77% of HR executive believe that performance reviews don't accurately reflect employee contributions. Rose Mueller-Hanson, HR Practice Leader at CEB, says that "Our research shows that individual performance ratings have absolutely zero correlation with actual business results."
This blog post talks about how the Annual Performance Review has failed...and what has emerged to take its place. We'll also share some insights that can be used to help your company make your performance reviews more relevant and less hated.