Many successful companies are saying goodbye to the annual performance appraisal and hello to more efficient and effective strategies to assess employees and their contributions to the organization. Survey data shows traditional performance reviews are viewed by employees as arbitrary and unhelpful to performance and career goals. In fact, this type of ranking system can destroy morale and create unhealthy competition that actually impedes collaboration.
This Blue Paper® looks at the history of performance reviews and offers alternative ways for managers to engage employees, offer feedback and assist in goal setting and achievement. It also highlights companies that have successfully replaced the traditional annual review with alternate methods of assessment that promote communication, performance and accountability.