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Yearly Reviews? Try Weekly

September 6, 2011 12:30 by Ann Pace

(From The Wall Street Journal) -- The status-update era is changing the annual performance review.

With many younger workers used to instant feedback—from text messages to Facebook and Twitter updates—annual reviews seem too few and far between. So companies are adopting quarterly, weekly or even daily feedback sessions.

Not surprisingly, Facebook Inc. exemplifies the trend. The social network's 2,000 employees are encouraged to solicit and give small nuggets of feedback regularly, after meetings, presentations and projects. "You don't have to schedule time with someone. It's a 45-second conversation—'How did that go? What could be done better?" says Lori Goler, the Palo Alto, Calif., social-networking company's vice president of human resources. More formal reviews happen twice a year.

For most companies, employee reviews are still an annual rite of passage. Some 51% of companies conduct formal performance reviews annually, while 41% of firms do semi-annual appraisals, according to a 2011 survey of 500 companies by the Corporate Executive Board Co., a research and advisory firm.

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