JPM is switching up the way it employees can evaluate each other, introducing a mobile tool that lets workers across the organization send or receive instant feedback of their colleagues. Following the lead of technology and consulting firms including Microsoft and Accenture, the large banks are revampingthe annual performance review, scrapping it entirely or supplementing it with more frequent check-ins.
“We want people to act and lead in a way that creates an environment where folks are comfortable asking for, giving and receiving feedback,” D’Ausilio said. “It’s got to be something that’s built into people’s routines.” Channels already exist for general comments on broader issues or corporate policies. So for rank-and-file workers hoping to give managers like Chief Executive Officer Jamie Dimon some constructive criticism, this is probably not the app for that. The new tools are “really meant to give feedback from direct interactions that people have,” D’Ausilio said. “If I’m four levels away from a business head, this wouldn’t be a natural channel to tell him something.”