THE FIRM WIDE 360 DEGREE PERFORMANCE EVALUATION PROCESS AT

THE FIRM WIDE 360 DEGREE PERFORMANCE EVALUATION PROCESS AT

Tom DeLong is chief development officer at Morgan Stanley

A new firmwide 360 degrees performance evaluation system

System applicable to over 2000 employees

Assessment for new systems effectiveness

Synopsis

Effectiveness of the new systemIntegrity of the systemMultifaceted nature and complexity of the businessesAmbiguity of the qualitative feedback providedGrade inflation Correctness of the questionnaireIssues identified

The new 360 Degree Feedback systemEvaluation Criteria was Market/Professional skills, Management & Leadership skills, Commercial Orientation, Teamwork/One Firm Contribution

Employees submit list of prospective evaluators in Evaluation Request form

ERF reviewed and discussed with employees manager

ERF submitted to Office of Development which is distributed to the evaluators listed

Evaluations post completion are processed into a Year End Data Packet for each employee

Each employee also completes their own self evaluation.

Pros and Cons of the new systemProsConsDetailed & specific information received

Elimination of bias

Open ended questions resulting in valuable qualitative information

Lengthy & time consuming

Complete information not given by managers

Grade inflations

Only annual feedback

Reliability of assessors ratings Discretion of the system

Rater overload