Replacing "The Holy Grail": Use peer assessment instead of class participation grades!

The move towards student-centred learning in higher educational settings (especially business schools) requires that students participate actively in physical and online classes. In order to both encourage and reward student participation; instructors typically assess it in some way and include a participation grade in calculating a student's final course grade. The purpose of this paper is to be provocative! It challenges our pursuit of the "holy grail" of class participation grading and proposes that we should replace this antiquated tool with a "reality stone" for the 21st Century: The judicious use of small group activities and peer assessments of group members. This paper presents several evidence-based recommendations for implementing the use of small group work and peer assessment, as an alternative to grading class participation.