For companies with < 200 employees, especially in tech, is performance & feedback tracking typically seen as mandatory, a big plus, or unnecessary? And when it does exist, what are the most common systems/tools to handle that tracking?
My current company does not yet have anything at all in place for performance reviews, or aggregating informal feedback. I've gotten started on a proposal for how they could get started, and people there seem to agree it could be great for engagement (my original frustration was that I couldn't formalize how excellent my co-worker is in his role). In my research, I've been happy to see that the current trend seems to be away from:
monolithic, annual, highly quantitative pay-focused reviews
There also seem to be some great options to fit this philosophy, that could work for a company of pretty much any size: Lattice, Small Improvements, and Reflektive seem to be good examples. So my question comes down to: if there is a "typical" small tech company in regards to feedback tracking, is it using one of those, something similar, something lower-tech, or like mine: nothing at all?
Edit: Actual range could be anywhere from 10-500 employees; trying to capture those companies that didn't need HR departments originally but have grown to require it, yet institutionalized performance reviews aren't yet seen as mandatory.