58% of executives believe that their current performance management approach neither drives employee engagement nor high performance. (Deloitte survey 2015)

In this video Pierre Nanterme, CEO of Accenture, talks about his company’s bold move to overhaul their Performance Management process. The firm will disband rankings and the once-a-year evaluation process starting in fiscal year 2016, and implement a more fluid system, in which employees receive timely feedback from their managers on an ongoing basis following assignments.

The new process will change how they evaluate the work of their people—from developing them, promoting them, and paying them accordingly. They aim to put in place a nimbler, real-time, and more individualized approach—something squarely focused on fueling performance in the future rather than assessing it in the past.

Take a look at the full video here.