Nearly ten percent of Fortune 500 companies have done away with annual performance review, says Cliff Stevenson, a senior research analyst for the Institute for Corporate Productivity, a research network that studies management practices, to the Washington Post.
“The snowball has started rolling,” he said. “I would not be surprised to see next year when we do the large survey again that it may jump into the twenties.”
In total, just over half (52%) of all companies conduct some form of performance review, but most are failing to take advantage of advanced technology to gain insights into the effectiveness of their workforce. Read more