Annual Performance Reviews is one of the most dreaded and hated process for managers and employees. Last year, Accenture decided to go away with performance reviews for their 330,000 employees. The reasons? they were “too costly” and didn’t prove improved performance.

Sam Culbert, professor at the Anderson School of Management at the UCLA, shares some insights in his book “Why Your Boss Is Wrong About You”:

Reviews focus employees on pleasing the boss instead of achieving desired results;

The politics of reviews make it impossible for employees to “speak the truth to power”;

Reviews are also unfair because of their “top-down” character with the boss being the sole arbiter of “objectivity.” Change bosses and the reviews often change too.

5 reasons why to kill Annual Performance Reviews in your organization, and what to do instead:

Reason #1: They may come too late

Millennials average a year and a half to two years on the job, which means annual reviews would provide them with one chance for evaluation.

What to do: Know your team members. Get together often with your team, and know them. Check why One on One meetings are your most important work meeting.

Reason #2: One-way of communication

Annual reviews are usually a one-way street, with the business owner giving the feedback to the employee. Weekly reviews, but offer employees an opportunity to share their feelings.

What to do: Create a culture of open and constant feedback. Employees are the important part. Coach and help them share their feelings. One on One meetings are a tool to create an environment of constant feedback.

Reason #3: They don’t measure the heartbeat of company

When you review your employees once a year, you get one touch point. Weekly One on One meetings provide 50 touch points during the year.

What to do: Weekly One on One meetings. Create touch points throughout the year, to measure the progress and goals. One on One meetings is a great tool to keep track of it.

Reason #4: Time-consuming for managers

Managers are left on their own to collect the information needed to conduct the performance appraisals. Managers see performance reviews as a burden, and employees get nothing out of them.

What to do: Less work on preparation. Do small check-in every week or two, and create shorter feedback loops. With Steer, you can easily prepare, execute and organize all your Weekly One on One meetings in one single place.

Reason #5: Create an atmosphere of high anxiety and stress

Many companies conduct an annual performance appraisal with no in-between coaching sessions. Employees walk in the meeting without having any idea on their performance.

What to do: More feedback, more often. Help and coach your team members on a weekly basis. Your team members will have a way to improve their work and achieve the results needed.