Facebook on Tuesday night announced it revamped its performance review system and will now tie employee bonuses to new criteria, such as “making progress on the major social issues facing the internet and our company.”

Other criteria upon which employees will be graded include building new experiences, supporting businesses that rely on Facebook and communicating more transparently about the work they are doing, a Facebook spokeswoman told CNBC in a statement. These goals were outlined by CEO Mark Zuckerberg during the company’s earnings call with analysts and investors last week.

“So in a nutshell: Facebook’s moving from a focus on growth, to a focus on change,” a Facebook spokeswoman told CNBC in an email.

The new system comes one month after a CNBC report detailed Facebook’s performance review system based on the accounts of more than a dozen former employees. The revamped performance review system was previously reported by Fortune.

“Over the past two years, we’ve fundamentally changed how we run Facebook,” the company said in a statement. “This particular change is designed to ensure that we are incentivizing people to keep making progress on the major social issues facing the internet and our company.”

The new criteria will be used to measure employee performance for the first half of 2019, the company told CNBC.

Previously, Facebook employees earned bonus based primarily on how their performance drove user growth, user engagement and revenue growth, according to a company filing. The previous criteria also included improving the company’s product quality, its brand and making progress toward the company’s long-term investments.

WATCH: A first look inside Facebook’s epic headquarters expansion that includes a redwood forest and a botanical garden

Products You May Like

Articles You May Like

GameStop surges after Barron’s says ‘Big Short’ star Michael Burry is long the troubled game seller
Powell says there’s no ‘rulebook’ for trade war, pledges to ‘act as appropriate’ to sustain economy
Cramer Remix: I’d be a buyer of VMware on weakness
$20 million Porsche flops in auction snafu
‘American Ninja Warrior’ host Akbar Gbajabiamila reveals his winning financial game plan

Leave a Reply

Your email address will not be published. Required fields are marked *