What Your Review Process Says About Your Company Culture

The holidays have come to an end and companies are ramping up for the New Year. While executives are getting ready to roll out new operational plans, strategies and budgets, many employees are preparing for their annual performance review. Although the review process is a necessary part of business,...

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Bibliographic Details
Published inMichigan Banker Vol. 28; no. 2; p. 9
Main Author Angott, Mark
Format Trade Publication Article
LanguageEnglish
Published Lansing Public Relation Enterprises, Inc 01.02.2016
Subjects
Business community
Careers
Corporate culture
Employees
Executives
Feedback
Leadership
Managers
Performance appraisal
Succession planning
United States > US
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Summary:The holidays have come to an end and companies are ramping up for the New Year. While executives are getting ready to roll out new operational plans, strategies and budgets, many employees are preparing for their annual performance review. Although the review process is a necessary part of business, it can be a time-consuming and tedious exercise for both managers and their direct reports. Accenture is a company that recently decided to eliminate annual reviews. With a workforce where 70% of employees are Millennials, the organization realized that traditional evaluations were not effective for engaging and motivating this generational group which values frequent, real-time feedback. Eliminating the annual review is not necessarily the answer, as many companies find the procedure effective in evaluating employees and holding them accountable.
ISSN:1044-1948