HR departments are so entrenched with annual review bullshit that even if they call it a different name and put a new "spin" on it, it will just end up being even more disappointing shit-work for everyone.
It may sound that it would be difficult to change what has been going for years, but there are several factors that make it easier than it seems so:
- Normally performance management process is managed by few people even in companies sized in 10,000's of employees. Even if ultimately the decision is made by HR executives, it is easier to make such decision when there are so few directly involved people. These people are normally part of corporate, and they just provide the process for local HR that usually has no real say in how performance management is done.
- Both corporate HR and local HR are tired of this too. We have been hearing these points for long time. Every single year enforced/recommended (amongst other points) distribution brings heated discussions yet nothing is done. Executives hear this.
- Talent Management system vendors are becoming more flexible and allowing different models for performance management. Such system is needed, but no one would ever sign up for developing it themselves.
In overall, I think it is a matter of time till this spreads. Promoting the wrong people or blocking the good ones is very expensive.
I have worked for several companies that follow Trend-driven Management and would not be surprised to see this spread amongst the CEO's and execs of major companies.
It will, of course, take a long time to undo the Jack Welch and command-oriented mindsets. However, I do think there's hope that strategic HR departments can re-orient companies toward processes & policies that care less about compliance with HR bullshit and more about actual coaching, feedback, and development.
(Disclaimer: I re-designed an employer's performance framework & process, so I am biased toward folks who are trying to push HR toward people-oriented, trust-based programs that are designed for the vast, vast majority of employees who don't need old-school performance "management.")
There is always good consulting work for connected people out there.