GeneralHr Library

How To Ditch The Annual Review For Good

Starting this month, global professional-services firm Accenture will add its name to a growing list of organizations including GE and Deloitte that are ending their annual performance review and ranking systems.

 

David Brennan, general manager of Achievers, a firm that helps businesses reward and recognize their staffs, tells Fast Company, “There’s a growing understanding within the HR industry that the annual performance review just isn’t a good way to manage people or boost performance.”

 

Around 10% of Fortune 500 companies have ditched the practice, recognizing that they’re often inefficient, and that the dread that fills employees prior to a review actually restricts their creativity, according to neuroscience.

 

Across the wider business landscape, leadership advisory firm CEB found that 12% of Fortune 1000 companies are ditching annual reviews and rankings, up from 1% in 2011.

 

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