THE FIRM WIDE 360 DEGREE PERFORMANCE EVALUATION PROCESS

AT

Synopsis

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

Issues identified

Effectiveness of the new system

Integrity of the system
Multifaceted nature and complexity of the
businesses
Ambiguity of the qualitative feedback provided
Grade inflation
Correctness of the questionnaire

The new 360 Degree Feedback

system

Evaluation 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 system

Pros

Detailed & specific

information received
Elimination of bias
Open ended questions
resulting in valuable
qualitative information

Cons

Lengthy & time consuming

Complete information not given

by managers

Grade inflations

Only annual feedback

Reliability of assessors ratings

Discretion of the system

Rater overload