The season of good cheer and annual reviews is fast approaching. And that may be the last time you see those two phrases in the same sentence.
No one ever looked forward to the annual review ritual. Not managers – 95% of them are dissatisfied with the way they are conducted; 58% say they serve no purpose. Not HR professionals – 90% believe them inaccurate. Nor employees — 87% find them ineffective; 55% say they have no effect on performance.
Even CEOs agree. Only 6% think performance appraisals are useful.
Since so few believe the annual review process is effective