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  • 10 hours ago
“Annual reviews made sense when the world was pretty static. The practice just hasn't kept up."

The traditional once-a-year performance review process is a structural failure, and one that’s grown obsolete amid speedy technological innovation, according to 15Five CEO David Hassell at the Fortune Workplace Summit.

"If you’re going to have a conversation once a year about something that happened three or four months ago, you’re not really going to be able to help that person develop."

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Tech
Transcript
00:00But the annual cadence is part of the problem.
00:02The reason it typically is done annually is because it is so onerous to do one of these practices.
00:08And what needs to happen is it needs to be simplified and it can be more frequent.
00:12We have some customers doing it as many as four times a year.
00:14I don't recommend that for everybody, but at least twice a year with a lighter rate process
00:18combined with the kind of the weekly feedback is very important.
00:21Annual reviews made sense when the world was pretty static.
00:24And we're at an accelerating pace of technology and change.
00:28And the practice just hasn't kept up.
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