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"General Electric, the eighth highest-rank company in the Fortune 500, is getting rid of annual performance reviews in favor of app-based feedback, Quartz reports.\nGE managers used to meet with employees once a year, rank them, and fire the bottom 10%. But many firms have been moving away from that practice, which GE Head of Human Resources Susan Peters told Quartz has &amp;#8220;become more a ritual than moving the company upwards and forwards.&amp;#8221;\nManagers are GE will now give more constant feedback about their employees&amp;#8217; work through an app called &amp;#8220;PD@GE,&amp;#8221; which stands for &amp;#8220;performance development at GE.&amp;#8221; Employees will have a concrete list of short-term goals to work towards, while managers are expected to hold frequent discussions about employees&amp;#8217; progress. Employees can also use the app to request feedback at any time.\nManagers will still meet with employees at the end of each year. But they&amp;#8217;ll be expected to act more as coaches, guiding their employees on how best to achieve their goals.\n\n\t\t\t\t\n\t\t\t\n\t\t\t\n&amp;nbsp;"^^<http://www.w3.org/2001/XMLSchema#string>
<http://fortune.com/2015/08/13/performance-reviews/>