This paper presents an overview on the change in the dynamics of the Performance Management process in the current business ecosystem where flexibility of work place is being adopted. Criticality of skills, competencies, virtues in the current business dynamics where new workplace structures are being adopted is analyzed. Continuous objective feedback to the team members by their managers, people leaders and its significance is discussed in detail in the paper. The empirical analysis of the data sets through Process Macros tool has enabled the researchers in validating the mediation impact of continuous feedback on performance appraisal process. Informing staff about company goals. Organizations must understand how goal/yardstick clarity affects skills and competences, which affect performance assessment in totality. Investment in skill-building and learning strategies brings learning ecosystem tools closer to team members. Knowledge sharing investment also helps managers communicate important information to team members and use team input to improve appraisal process.