Moving Forward, Goldman Sachs Will Address Employees By Their Actual Names Rather Than The Numerical Values They've Been Assigned
Time was, the Goldman method of evaluating employees included giving them a ranking from 1-9, a designation that followed them around for the rest of the year. Turned in one so-so report that suck in your boss's craw? You were no longer "Rob," but "5". Now, not only will staffers no longer be reduced to a number, but they'll be given a thing called "constructive criticism."
The Wall Street bank is eliminating numerical rankings in employee reviews starting next month, and this fall will experiment with an online system where employees can give and receive continuous feedback on their performance...The firm will keep its 360-degree annual review, in which an employee solicits feedback from his or her manager and a select group of colleagues, including peers and reports. Gone is an employee ranking on a nine-point scale, she said. More firms are eliminating numerical ratings for workers as bosses realize “the person receiving the rating is now stuck with the number for an entire year that labels them,” said Josh Bersin, a principal at Deloitte Consulting LLP who advises companies on talent management.
Goldman Sachs Dumps Numerical-Ranking System for Employees [WSJ]
