One of the 'hallmarks' of a conscious business is the shift towards greater transparency. When hierarchy is limited, and information flows freely at all levels of the organization, it is much more likely that the organization will be high-performing.
We (like many organizations) struggle with reviews within the company. Being a small organization, we don't have the sort of structure imposed on us that many larger companies do, yet, we are certainly at the size where people need feedback in their work. That feedback is critical for enhancing and continuously improving, both from the company's and the individual's perspective. Without adequate feedback, even if a team member wants to get better at what they do, they have a hard time figuring out what to work on.
Here's an example about how transparency can be enhanced through technology. I haven't tried it out myself, but the approach seems really interesting. Rypple. Watch the movie!
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