Performance reviews get their share of bad press. There are lots of reasons that more and more organizations are transitioning away from the traditional model of annual performance reviews.
Firstly, with a workplace that is ever-changing, an annual review is likely to occur long after many projects have ended. As such, if managers postpone feedback until the review, by that time, it may seem outdated and could even be frustrating to bring it up at such a late date. It also means that employees may be losing out on the opportunity to get feedback more quickly, as they progress with their work, in time to make changes and improvements as they go.