There are not many things that everyone agrees upon that it is outdated. Performance feedback is just that. No matter on who you ask – no one is in favor of them.
It is hard to mention what is not broken about the process of performance feedback. Too much time for too little output, hidden costs, unrealistic time window, retrospective, static data, top-down (nope – 360 does not really make it better). What frustrates is that following the procedure, but knowing that it does not make sense – is demotivating at the highest level. Truly a relict of a time long gone.
They survive because there is no better option. The idea that if they are discontinued that they will have a positive revival just because they are not mandatory any more is not really borne in logic. And it is evident that some form of feedback could contribute to make progress as a whole.
We have a venture that might solve the downsides of performance feedback, while enabling the true function of it. Would you want to be among the first who we share our insights with? We are looking to learn from others.