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In recent years, the annual performance review has come under a huge amount of scrutiny. As a process, it’s painful for everyone involved, and many believe it to be ineffective and inaccurate. In fact, almost 95 percent of managers are dissatisfied with how their company conducts performance reviews.
This dissatisfaction has led to some companies doing away with annual reviews completely. However, these companies have not stopped measuring employee performance. On the contrary, they are considering a continuous feedback model with more frequent check-ins on performance, goals, and development. And some of the top-performing companies