The performance review is getting a makeover, as more than half of U.S. employers (51%) say they've updated their performance appraisal process in the past two years, according to a new Office Team survey of HR professionals.
One of the biggest changes: managers are increasing the frequency of employee feedback.
Still, despite rumors of its demise, the annual performance review is not dead. A full 78% of HR pros said their companies conduct formal staff appraisals at least once a year. But 38% of companies now have these meetings twice a year or quarterly, an 11-point jump from a similar survey in 2015.
"Although some employers are eliminating the annual performance review, we don't see that as a good solution for the vast majority of companies," says Rob Wilson, president of Employco USA.
One reason: Performance reviews can be legally significant documents. A good review can affect compensation, a common...