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The effectiveness of annual reviews has long been under scrutiny in modern workplaces, and it seems like their era may be coming to an end. For the fourth year in a row, “The Future of Work is Human: Findings from the Workhuman® Analytics & Research Institute,” a survey of more than 3,500 full-time international workers, found that the number of companies conducting annual or semiannual reviews has continuously fallen from 82% in 2016 to 54% in 2019.
But what will replace these traditional processes? The answer is a more continuous performance management approach that relies on the power of peer-to-peer feedback and regular manager check-ins. Read this paper to learn how ditching annual reviews and adopting a more human-centric approach improves employee engagement and reduces turnover.
You’ll learn new actionable findings such as:
- Employees who receive daily feedback from managers are 3x more likely to be engaged
- Companies that provide regular feedback have a 14.9% lower turnover risk
- Employees who have weekly check-ins are 2x as likely to trust and respect their manager