Although most (88 percent) of U.S. office workers receive structured annual performance reviews, close to two-thirds feel they’re an outdated management tool — and 59 percent say reviews have no impact on how they do their job.
A significant portion of managers — 62 percent — also feel reviews are outdated.
More than half of workers say performance reviews put them in competition with coworkers. Millennials, in particular, had strong opinions about the practice. Sixty-one percent said they’d switch to a job with equivalent pay at a company that didn’t have formal employee performance reviews.
One in three Millennials has cried after a performance review. Forty-seven percent have looked for another job, and 30 percent say they’ve quit outright after a review.