This recent SPARC Europe briefing paper tackles the problems with current methods of evaluating research (including the impact factor and h-index) and proposes some future directions:
The most striking aspect of the recent series of Royal Society meetings on the Future of Scholarly Scientific Communication was that almost every discussion returned to the same core issue: how researchers are evaluated for the purposes of recruitment, promotion, tenure and grants. Every problem that was discussed – the disproportionate influence of brand-name journals, failure to move to more efficient models of peer-review, sensationalism of reporting, lack of replicability, under-population of data repositories, prevalence of fraud – was traced back to the issue of how we assess works and their authors.
It is no exaggeration to say that improving assessment is literally the most important challenge facing academia. Everything else follows from it. As shown later in this paper, it is possible improve on the present state of the art.