360° Performance Evaluation at Morgan Stanley

Performance appraisals, performance reviews and/or appraisal forms are a part of the performance management process. In general, performance appraisals are not favored. People in organizations would prefer not to be advised they did not do tell this year compared to the previous years. Managers would prefer not to put themselves in a scenario that could possibly turn into an argument from an employee about a performance appraisal that was not that great. If the ultimate goal of a performance appraisal is employee development and organizational improvement, we have to consider moving to effective performance management system to avoid any conflicts. The successes of performance management strategies sound favorable to many, however, there are managers and supervisors that make decisions that affect the moral and performance of the employees. Moral can become the heart of an employee’s motivation to succeed and be happy at work.

We recognize that our customers, as well as employees and investors, have many options in choosing a company with which to be associated. Our opportunity to serve should be viewed as a privilege that is not to be taken for granted.

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Although performance cannot be judge alone with 360-degree assessment, it provides a commentary aspect that will assist an organization in Leadership Development and Succession Planning. Including the 360-degree appraisal in the performance management process will provide a broader perspective about an employee’s performance and detail to annual appraisal. In addition, the technique facilitates greater self-development for an employee. Moreover, it enables an employee to compare his or her self- evaluation about performance with the perceptions of others.

I strive to provide my clients with the best possible investment advice and service by employing proven investment strategies and techniques in order to achieve superior investment returns over the long term. I keep my business simple and straightforward in order to ensure that clients understand and easily participate in our ongoing

Development of a performance appraisal system that is effective in a human service organization is of benefit for the organization and the employees. For a performance appraisal system to be effective, the system has to be strategic, designed to fit the specific needs of the organization, non-discriminatory, non-bias, with correct implementation and administration. Many different components, must to be incorporated to make this type of system beneficial for all who use it, and all who are evaluated by the system.

Helping performance raters avoid bias is an important factor in creating a legally sound performance management system (Aguinis, 2013). All people leaders will be required to attend yearly and bi-yearly training to help manage the performance of employees. They will also be required to justify their ratings to their direct leader. Once the leader approves the rating, the performance review will be made available to the employee. The employee will be able to leave feedback and sign the performance review. Once signatures have been received the performance review will not be

A comprehensive appraisal system encompasses performance appraisal, objective setting for individual and/or teams, training and skills development programmes.

Performance evaluations are important parts of all employees and managers tools to ensure positive actions are rewarded while negative actions can be evaluated and fixed to decrease problems in the future. Performance evaluations benefit supervisors and employees by identifying how to bring out the employees best attributes for the company (Hamlett, nd.). Evaluations provide a look at how a worker is doing compared to earlier reviews of their skill, knowledge, initiative and participation in the company’s vision (Hamlett, nd.). Introducing performance review evaluations is important to most organization for the success of their organization and the advancement of its employees. Performance evaluations provide a way for managers and supervisors to manage the performance of an organization and the people who make of the human resources of the organization (McCarroll, nd.). When implementing a new system it is important to understand the process must be realistic, challenging, yet attainable for performance expectations and standards to be successful for employees and the organization (McCarroll, nd.). Balanced scorecards are utilized in performance evaluations to essentially provide a way for organizations to align their strategic plans with day to day operations (Balanced Scorecard Institute, 2015). Balanced scorecards look at traditional financial measures, which are past events and long-term investments like

Next, the 360-Degree Feedback is also used to measure an employee’s performance. Through research, the 360-Degree Feedback sole purpose as David Bracken states is to “be seen merely as a tool or used as a one-time event. Rather, it must be understood as part of an ongoing process of assessment, performance evaluation, and discussion of performance with supervisors, subordinates, peers, and others.” More so, the 360-degree feedback is useful when considering the employee’s feedback and leadership skills.

Help the company achieve their target an annual growths in sales of 15% over the next 5 years.

When conversations about professional growth are near-constant and untethered by ratings, people can get overwhelmed. Employees often struggle to figure out which information matters most and what to ignore (Goler, Gale, & Grant, 2016). Performance evaluations allow for an overall assessment that helps people prioritize. Employees learn what their key strengths are, and where they should focus their development efforts.

I am going to discuss the key features of a 360 degree performance appraisal. Some of the key features are that it measures are;

360 degree feedback system as a performance evaluation tool as long as the understanding of its intent is understood. “There are three key steps in the successful implementation of 360 degree feedback systems in an organization. The three steps are that it must fit the organizations culture, make it psychometrically sound, and used with care” (“Best Practices”, 2012). It is also important to train the feedback providers to be sensitive, respectful and polite. Treating employees in a friendly and respectful manner and offering constructive advice will make them more open to accepting the performance

In an article from the U.S. Office of Personnel Management [OPM] (n.d.) it stated that “without feedback, you 're walking blind, at best, you 'll accidentally reach your goal, and at worst, you will wander aimlessly through the dark, never reaching your destination.” Feedback is a critical element in a managers “toolbox” when evaluating employees. It gives an employee a view of how good or bad their previous performance was and what or if they need to improve in their performance. It also reduces