Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) said Wednesday it will do away with its policy of having two performance reviews per year after employees complained about the process in an effort to improve morale and reduce time spent on the reviews, The Information reported.
Speaking at a company meeting, Google (GOOG) (GOOGL) Chief Executive Sundar Pichai said the new policy, which would see performance reviews happen once a year, is designed to give employees a greater sense of accomplishment, while adding that most of the company's 163,906 employees are doing "great work."
Alphabet's (GOOG) (GOOGL) shares the day witha gain of more than 4%.
Mountain View, California-based Alphabet (GOOG) (GOOGL) did not immediately respond to a request for comment from Seeking Alpha.
As part of the new system, the tech giant will implement a slate of new ratings levels : transformative impact, outstanding impact, significant impact, moderate impact and not enough impact.
Most employees are likely to receive significant impact, the news outlet added.
Separately on Wednesday, the Dutch regulatory agency, the Netherlands Authority for Consumers and Markets, said it would launch a preliminary probe into Google (GOOG) (GOOGL)over its Play Store payments.