8 Fatal Flaws of Performance Management: M. Tamra Chandler Q+A (Part 1)

There goes another nail in the annual performance review coffin.

The most recent company to publically announce its revamp of performance reviews is Goldman Sachs. In a memo to employees, CEO Lloyd Blankfein and COO Gary Cohn wrote, “Providing high-quality and ongoing feedback is at the heart of our culture, and is an important investment we make in our people.”

Why doesn’t traditional performance management work anymore? And if we do away with ratings and annual reviews, will there by any a...