The shift from traditional one-to-one performance reviews to peer-based systems has generally increased the efficiency of employee feedback in global companies. This is because peer-based systems, such as 360-degree reviews, provide a more comprehensive view of an employee's performance, incorporating feedback from multiple sources rather than just a single manager. This can lead to more accurate and useful feedback, as evidenced by Google's experience where the percentage of employees who found the feedback useful increased significantly after the switch. However, it's important to note that the impact can vary between companies and depends on how well the system is implemented. Specific data for Apple and Tesla is not provided in the content.

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The future trends in the field of performance reviews, considering the increasing adoption of peer-based systems, could include a greater emphasis on continuous feedback rather than annual or semi-annual reviews. This approach allows for real-time adjustments and improvements. Additionally, there might be a shift towards more qualitative feedback, focusing on skills and behaviors rather than just metrics. The use of technology in facilitating peer reviews is also likely to increase, with AI and machine learning playing a role in analyzing feedback and providing insights. Lastly, there might be a greater focus on team performance, recognizing the importance of collaboration and collective success in today's work environment.

Some companies use peer-based review systems as an alternative to the 360-degree review. In this system, feedback is gathered from an employee's peers rather than from managers alone. This approach is believed to provide a more comprehensive and accurate view of an employee's performance. Companies like Netflix, Microsoft, and Adobe have adopted this method. Google also switched to peer-based reviews and saw a significant increase in the percentage of employees who found the feedback useful.

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