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Yay, It's Time For My Performance Review! (Said No One Ever)

It's once again time for the annual ritual of fear and loathing, also known as the performance review — at least for the companies that still do them. Many have abandoned the old way of evaluating their employees in recent years. Last year, even General Electric — whose former CEO Jack Welch championed the system often known as "rank and yank" — did away with its annual review. What's taking the old system's place? A hodgepodge of experiments, essentially. According to CEB, a corporate research and advisory firm, only 4 percent of HR managers think their system of assessing employees is effective at measuring performance — and 83 percent say their systems need an overhaul. ... Read more