Pierre Nanterme, CEO of consulting giant Accenture, recently told the Washington Post, “We’re going to get rid of [annual reviews]. Not 100 percent, but we’re going to get rid of probably 90% of what we did in the past. It’s not what we need. We are not sure that spending all that time on performance management has been yielding a great outcome.”
The problem with the old process? “Performance is an ongoing activity,” Nanterme said. “It’s every day, after any client interaction or business interaction or corporate interaction. It’s much more fluid.
“People want to know on an ongoing basis, am I doing right? Am I moving in the right direction? Do you think I’m progressing? Nobody’s going to wait for an annual cycle to get that feedback. Now it’s all about instant performance management.”
He said that “[F]or the millennium generation, it’s not the way they want to be recognized, the way they want to be measured. If you put this new generation in the box of the performance management we’ve used the last 30 years, you lose them.”
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