The annual performance review is broken, 15Five CEO says

“Annual reviews made sense when the world was pretty static. The practice just hasn't kept up." The traditional once-a-year performance review process is a structural failure, and one that’s grown obsolete amid speedy technological innovation, according to 15Five CEO David Hassell at the Fortune Workplace Summit. "If you’re going to have a conversation once a year about something that happened three or four months ago, you’re not really going to be able to help that person develop."