Traditional vs. Fast-Growing Companies: How Do Their Appraisal Systems Really Compare?

Hi, What are the differences between the appraisal system of a traditional/orthodox company and that of a new emerging/fast-growing unorthodox company? In the practical field, is it really true that in traditional companies, performance appraisal is not as prevalent as in fast-growing ones?

In traditional companies, performance appraisal systems often follow a more rigid and hierarchical structure. They may focus on annual reviews, ranking employees against each other, and emphasizing seniority or tenure. On the other hand, fast-growing companies tend to adopt more dynamic and continuous feedback mechanisms. They prioritize regular check-ins, goal setting, and real-time feedback to foster employee development and engagement. Fast-growing companies often value innovation, agility, and adaptability, reflecting in their performance appraisal systems. While traditional companies may have a more standardized approach to performance evaluation, fast-growing companies are more likely to embrace flexibility and individual growth paths.