Is it time to abandon annual performance reviews?

(This is part#2 of a series on PEOPLE - see part#1 here)

Managers and leaders have to re-wire their organisations to evolve in order to satisfy these needs and still perform in a competitive and challenging environment. They need to constantly calibrate their purpose in an ever-changing global marketplace.

What is irrefutable, is that the current management practices are failing...and miserably.

A case in point is the annual performance management review - still in vogue today. Whilst even its usefulness as a compliance model for compensation, promotion or termination is questionable, there is little evidence to support its effectiveness in improving either performance or its management.

A major concern is the the year-long time frame gap to provide and receive feedback. It’s just too long! In the current work environment many staff would have entered and exited the organisation between the 12-month cycle.

How does either participant remember, collate and review a year’s work? Is it unreas…