Traditional performance evaluations are going extinct. The rapid pace of change in the modern business landscape has decreased the utility of formal, once-a-year reviews, which once loomed large over workers’ careers and earnings.
Most employees won’t miss those dinosaurs, experts say, noting that younger workers especially crave more frequent feedback. They tend to be happier with the continuous performance review systems evolving to fill the void, which are “more frequent, more employee-centric, more coaching-in-nature conversations between manager and employees,” says Anna Tavis, clinical associate professor of human capital management at New York University.