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Companies Dread Performance Reviews

By Sally Maison
Published: Wednesday, May 12th, 2010

PIXTAL-00025681-001Experts now say the best way to sabotage a company and its employees is by giving them a copy of the annual performance review. The review has been accused of destroying employee and employer relationship and cause disharmony at work places in the past.

Performance reviews are merely a method to control employees. Most companies opt for this review as a mode of evaluation employees but fail to see the flaws in the review system. “It is the most pretentious, fraudulent, ill-advised exercise taking place at companies, and I can’t understand why, it does nothing but cause angst and anxiety.” said Samuel Culbert the author of Get Rid of the Performance Review, and a UCLA professor.

The wall street journal’s Lawrence Rout also one of the contributing authors of the book, Get Rid of the Performance Review said performance reviews must be constructive and help improve the working of the company and giving the management the equal criticism that the employees get.

Culbert insisted that employers enquiring about the wants and needs of the employers and offering them good working conditions are important to get the best out of employees in terms of production and loyalty.

“We want people talking and learning the lessons of their experience, not defending their mistakes,” Culbert said. “Instead of employees failing and getting fired, let’s see management roll up their sleeves and pitch in to do what needs to be done so that there’s joint accountability.” Culbert explained that “If people aren’t learning the lessons implied by the mistakes they’re making, it will be obvious and easy enough to get them out the door and on the road, and you don’t need a checklist for that.”

Consumers who have been careless with the management of their credit scores will face the music as a new study by the CCCS; Atlanta shows that consumers who have higher credit scores pay more monthly on their home loans. A person, who has a credit score of 200 and above more than another person who has the same debt as the former, pays a whopping $110,325 more than the latter during time of debt. Consumers pay almost $300 more monthly for higher credit scores.

“A solid credit score can be a tremendous asset,” said Mechel Glass at CCCS. “Lenders use credit scores to assess the care that consumers take with their credit and to determine the likelihood that they will repay money borrowed.”

A consumer’s past payment history, with details on payment dates and on time, early and late payments are a factor in fixing credit scores. The debt a person owes and the management of his debt makes a difference to credit scores as lenders like to see consumers keep their words on their payments.

Past payment history and the debt a person has accounts for an average of 65% of the credit score. Persons who have large credit history are known to be more active and usually get good scores. Even persons with small credit histories can get good scores if their credit management is stable. The Old and new credit consumers have are taken into account and the variety of loans on their credit reports will offer good credit scores making 35% of the score.

Customers can call 1-877-322-8228 for their credit report history and can visit AnnualCreditReport.com for their free credit report, one from each of the three credit bureaus, Equifax, TransUnion and Experian annually

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