As of September, one of the largest companies in the world will do all of its employees and managers an enormous favor: It will get rid of the annual performance review.
Accenture CEO Pierre Nanterme told The Washington Post that the professional services firm, which employs hundreds of thousands of workers in cities around the globe, has been quietly preparing for this “massive revolution” in its internal operations.
“Imagine, for a company of 330,000 people, changing the performance management process—it’s huge,” Nanterme said. “We’re going to get rid of probably 90 percent of what we did in the past.”
The firm will disband rankings and the once-a-year evaluation process starting in fiscal year 2016, which for Accenture begins this September. It will implement a more fluid system, in which employees receive timely feedback from their managers on an ongoing basis following assignments.
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My comment:
This is an interesting development. The annual performance ranking, which was supposed to be a "must have" tool in managing people, has now been found to be counter productive. I have observed this phenomena many years ago.
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