Consistent feedback continues to gain market share. Goldman follows Deloitte, Chase, Microsoft, and Netflix to change their employee review systems to more immediate feedback models. Increasingly, neuroscience tells us that the annual review process needs to die along with its evil cousin, the 360-degree review. Perhaps all demotivating performance reviews will soon give way to more ethical treatment of humans taking the form of consistent, immediate, positive and helpful feedback.
We all owe the Millennials a nod and high-five. They’re the ones who started demanding more fair review processes. Fairness is always an ethical test and, in this case, is objectively testable.
Questions for the Ethics Award
How well does your review process motivate employees?
How do you know? (Because if it doesn’t and you think it does, dude, you are screwed with regard to doing the right thing, keeping great talent, and building your net revenue.)
When is the last time you performed a thorough, scientifically-based review of your performance review process?