Formal performance appraisals have been eliminated by almost all major firms and replaced by daily assessments by peers in addition to extensive training opportunities.

Question

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Conventional appraisals are still the norm, although many progressive employers, such as Toyota, have essentially eliminated formal appraisals. Appraisals at such firms mainly involve having teammates continuously assessing each other, day-to-day. However, not all employers can or necessarily would benefit from such systems, so formal appraisals remain the most common.

Formal Performance Appraisals Have Been Eliminated by Almost All Major