The performance review as we know it is dead. GE and other business giants have been kicking performance reviews to the curb.
See why these corporations are moving away from a decades-old method in favor of new review processes.
GE Quit Doing Annual Reviews.
Should You Quit Too?
The Society for Human Resource Management recently reviewed GE's decision to move away from annual performance reviews. In a time when business technology is growing and changing exponentially, all aspects of business need to keep up. So companies like GE, Microsoft and Adobe are moving away from the annual review schedule, and replacing it with more ongoing reviews, frequent communication, and even apps.
Being agile in business means being brave enough to scrap outdated methods to embrace innovation. But is scrapping annual reviews the answer?
Will this work for your company? If your company doesn't use yearly performance reviews, what does it use? Let us know in the comments below!