Time for a 21st-century performance review redo

Many forward-looking companies have instituted a model of continuous feedback on employee performance to combat these challenges of heavy time investment and inaccurate reviewing. (Photo: Shutterstock)

As we approach the New Year, many businesses are entering the annual performance review period for their employees. This performance management process has been around for years, providing leaders with an opportunity to address successes, concerns and suggestions with employees every 365 days. However, it’s increasingly apparent the annual performance review is a flawed process and is in many instances, causing more problems than it solves.

For starters, managers and employees put a heavy time investment into the annual review process. However, the outcome of the performance review process can include potentially biased opinions and inaccurate results. These factors have led to increased frustration and dissatisfaction with the current annual review process.