Accenture, a leading global professional services company, has decided to eliminate annual performance reviews and rankings for its employees. This dramatic shift in policy, affecting 330,000 workers worldwide, is set to begin in September. The firm plans to implement a more fluid system, where employees receive feedback on a regular basis from their superiors. This is a significant departure from traditional corporate practices, where annual reviews and rankings have been the norm.
Accenture’s decision is part of a growing trend among major companies to rethink their performance evaluation systems. The firm believes that the new system will be more personalised and responsive, fostering better performance and engagement among employees. The change aims to create a more dynamic and immediate feedback loop, which is expected to be more effective in improving performance and productivity.
The firm also plans to implement an internal app for employees to request feedback at any time. This move is seen as a response to the changing nature of work and the expectations of younger employees, who prefer more immediate and regular feedback. Accenture’s decision is likely to influence other companies to reconsider their performance evaluation systems, heralding a potential shift in corporate culture.
Go to source article: http://www.washingtonpost.com/blogs/on-leadership/wp/2015/07/21/in-big-move-accenture-will-get-rid-of-annual-performance-reviews-and-rankings/