Paying attention to change is a mindset. Some companies adapt, while others simply can’t let go of the past, even if their inaction to change is causing disruption in their organization. We have written about the annual performance review, in the past, and its relevance or lack thereof, in today’s rapidly change workforce that encompasses; cloud computing, AI, Robotics, and a Millennial and GenZ workforce. In particular, this cohort of Millennial and GenZ employees, simply have no patience, for year-end reviews with their managers, and would instead, prefer daily or weekly feedback.
In an article, written by Valerie-Bolden Barrett for HR Dive, titled Workers overwhelmingly prefer regular check-ins to yearlies, based on a study, it revealed the following:
“An overwhelming number of employees (84%) said regular check-ins with their managers are important to them, according to a poll of 1,000 workers from Appraisd, a U.K.-based performance management software company. The percentage of employees favoring check-ins was even greater among younger age groups; 90% of Gen Zers said regular face-to-face meetings with their manager are important and 40% described them as very important.
Workers reported different check-in frequencies with their managers. One-third of respondents meet with their manager once a month; 12% meet every two weeks; another 12% never meet with their managers at all; and 8% meet fewer than every six months. Large organizations were more likely to have regular check-ins than midsize or small companies, and the number of employees that never had check-ins increased to 17% in small companies, Appraisd said.
According to Appraisd, the annual review is still used in 36% of the respondents’ workplaces. Four percent reported that reviews are conducted less than once a year and 8% said that they’ve never had a review with their current employer”.
Bottomline: The annual performance review is on life support and will eventually become a thing of the past. Millennials and GenZ, will slowly seal its fate.
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