10 Reasons Why Annual Reviews Are No Longer Enough
Learn 10 ways we have outgrown traditional performance management. If they feel familiar, you may want to explore whether your current performance management technologies need an overhaul.
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The ROI of Continuous Performance Management
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
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