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Deloitte Touche Tohmatsu Ltd.

Companies are scrapping annual performance reviews for real-time feedback

Companies are scrapping annual performance reviews for real-time feedback

If the annual performance review were to undergo its own performance review, it might be rated "unsatisfactory" or "needs improvement," not even rising to the dreaded "3" on the five-point scale that, despite assurances to the contrary, is typically understood to signal utter mediocrity.

"They are old-fashioned and unrealistic," said Catalina Andrade, employee happiness director at Retrofit, a Chicago-based weight management company in the midst of overhauling its performance evaluation system.

People have long complained about the anxiety around annual ratings, the scramble to remember all that happened in the past year and the piles of...

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