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At JPMorgan, Your Performance Review Is Now. And Now. And Now...

  • Bank offers staff technology to critique each other instantly
  • The feedback will help inform annual compensation decisions
Employees work in the lobby of JPMorgan Chase & Co. headquarters in New York.

Employees work in the lobby of JPMorgan Chase & Co. headquarters in New York.

Photographer: Ron Antonelli/Bloomberg
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JPMorgan Chase & Co. is shaking up the way it evaluates employees, introducing a mobile tool that lets workers across the sprawling organization send or receive instant critiques of their colleagues.

The software, dubbed Insight360, is meant to foster development of the bank’s 243,000 staff, according to a memo Thursday from John Donnelly, head of human resources at the New York-based company. Executives at the bank found many workers, especially millennials, crave constant feedback instead of a traditional once-a-year performance review.