HAPPY COMPANIES: After The Bell: The case for consigning performance reviews to the dustbin

Many other companies have also dropped the annual performance review, including IBM — tech companies are often cutting-edge — as well as OppenheimerFunds and others.

By contrast, the Nasdaq Composite Index, of which it is a part, has risen less than fourfold since 2012. So Adobe has outperformed the rest of the market by a long shot since it bade farewell to performance reviews. The annual performance reviews fall into this broad category because they require meetings — albeit not on such a regular basis — that contribute to worker unhappiness, and an unhappy workforce is likely to be less productive than a happy one.

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