Hey Tanuj...I'm always up for discussing on anything in this space! 🙂
You are 💯 right!
That is exactly where performance is heading to - real time, continous, multi directional. Ideally ot should happen throughout the year, on a micro basis and all of them aggregated at the year end.
To quote Gaurav (founder of mesh) - the vision of their product - We are building a pms tool which eliminates the need for performance appraisals.