I don’t believe in formal performance reviews. I think they create an environment where employers risk not confronting unsatisfactory performance when it happens — or acknowledging great work when it is delivered.     At TerraCycle, our approach has been to build a culture where feedback is given often and evenly to all 110 employees. We do this through a weekly reporting process (a topic I blogged about a few months ago) that requires every department to submit a detailed biweekly report to the whole company (every employee). In other words, everyone in the company sees the same reports that I do. Then, as chief executive, I write detailed responses to the reports that are also sent to all employees. This process allows everyone to be evaluated, frequently and without prejudice, in full view of their co-workers. I greatly prefer this approach to a more formal, once-a-year sit-down. Someone who isn’t performing well needs to know about it in real time, and someone who is doing great deserves immediate recognition.