THE FIRM WIDE 360⁰ PERFORMANCE EVALUATION PROCESS AT MORGAN STANLEY

THE FIRM WIDE 360 PERFORMANCE EVALUATION PROCESS AT MORGAN STANLEY Q: No.1- The Process of 360 Performance Performance Evaluation Process at Morgan Stanley. Identify the process? Answer: The process of 360 ⁰ Performance Evaluation Process at Morgan Stanley is that: -

1. All of the professional employees identified those people within the firm with whom they regularly interacted. 2. Evaluation Request Form (ERF) is reviewed by evaluates manager or supervisor. 3. The ERF is submitted to the office of Development. 4. Evaluations after being done were processed into a year-end data packet for each evaluate. 5. Each professional also completed their own self-evaluation. Q: No.2- In your opinion the advantage and disadvantage of this type of performance evaluation? Answer: In my opinion the advantage of this type of performance evaluation is that:-

1. It help to make better decisions. 2. Those who may not be good at promoting themselves, it allows you to see through those who are „too good‟ at self -promotion. -promotion. 3. The process was perceived as helpful in conducting performance appraisal s because the manager was able to draw on detailed and specifi c information from a broad cross section of employee. 4. The continuous professional development of its employee. 5. The evaluation process is completed by the em ployee‟s job stockholders. 6. Supervisor bias can be eliminated. 7. Open ended: Evaluators were free to express themselves. 8. The performance criteria were increasingly incre asingly rigorous as one progressed up the organizational hierarchy. In my opinion the disadvantage of this type of performance evaluation is that:1. The evaluate never saw the actual comments made by those who had completed evaluation forms. 2. The most challenging situation is when there is a complete disconnect between a  person‟s self -perception -perception and that of the colleagues, superiors, and subordinates. 3. An unanticipated consequence of the numeric ratings was that t he numbers were used as if they were somehow „real‟ and precise. precise . 4. Another problem with both the numeric scores and the written comments was the  perception that rampant “grade inflation” existed. 5. 360⁰ performance evaluation is lengthy process because the f ull process is needed to complete much more time than the old process. 6. Training not given by the evaluators.

Q: No.3:- If their have any other performance evaluation use then compare with 360 ⁰? Answer: 360⁰ degree feedback system in which feedback was solicited from superiors, peers,

subordinates, and “internal clients”. The revamped evaluation process was the result of a multi-year effort initiated by a task-force. It was implemented under the direction of Tom DeLong. After the first year the system was implemented the task force held focus groups to assess the effectiveness of the redesigned performance evaluation that the new system was a significant improvement over its predecessor. In the past, as sessments were done verbally in a large group by all those senior to an evaluate. All junior employees were evaluated collectively and the oral meeting led to assessments that had a “sound- bite” quality. Furthermore, in the past people had generally not received any individual feedback. The volume of the data and the written format of the new system contributed to perceptions of fairness and objectivity. Q: No.4:- Identify the long-term value which a 360 evaluation program insight bring for the organization? Answer: - There have some long-term value which a 360 ⁰ evaluation program insight bring for the organization. Those are:1. Market/ Professional skills of the employees: - 360⁰ evaluation program help the

organization to develop their employees market and professional skills. That is create a long-term value of the organization. 2. Management and Leadership skills of the employees: - 360⁰ evaluation program help the organization to develop the management and leadership skills of the employees. That is also create a long-term value of the organization. 3. Makes employees commercial orientation: - 360⁰ evaluation program helps to make the employees commercial orientated. That is create a long-term value of the organization. 4. Develop Teamwork: - 360⁰ evaluation program helps to develop the teamwork. So, it‟s help to develop a long-term value for the organization.

Part-II Q: No.5:- Analysis all the Exhibit.

Exhibit 1

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Evaluation Request Form

This form is used for provide meaningful feedback of an employee performance. The Employee is selected those evaluators (direct supervisors, colleagues and direct reports) who knows about the most in-depth knowledge of that employee performance and accomplishment. The Evaluation Director will review that employee nominators

and is responsible for final approval of the suggested evaluators. The evaluation request form help an employee to know about his/her current performance situation and also know how to improve his/her performance in future.

Exhibit 2

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This self-evaluation is an important tool in an employee ongoing in his/her personal and professional development. The annual self-evaluation will help an employee to manage his/her an acquire a full and accurate understanding of his/her progress toward agreed-upon goals and objectives, self-role in business transactions, client relationship development and cross-selling and an employee self-contributions to t he divisional and Morgan Stanley communities. It will also allow an employee to identify attributes his/her feel need development to increase his/her professional effectiveness. Annual Self- Evaluation Form help an employee to know about his current position and also provide knowledge to progress him/herself.

Exhibit 3

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Long Evaluation Form

Here the performance evaluation is judge by the Likert-t ype scale. There have five scales available here. The most on is outstanding and the least on is unsatisfactory. There have also a row of Not Observation. The Form helps the employee to calculate his/her performance in details.

Exhibit 5

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Short Evaluation Form

This evaluation from is similar to evaluation request form. But it is short that the  previous one. Here the overall performance is judge by the area/ categories and make a short list of that areas. The form specially used for identify the strengths points of the performance and provide suggestion of further development.

Exhibit 4

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Annual Self-Evaluation Form

Annual Upward Evaluation

An evaluation form that judge by the closely supervised the work. The primary  purpose is development- to help an employee‟s manager pinpoint managerial and leadership strengths and development areas. It is al so like the short evaluation form. Here also the performance evaluation is judge by the Likert-type scale. There have also five scales available here. The most on is outstanding and the least on is

unsatisfactory. There have also a row of Not Observation. The Form also helps the employee to calculate his/her performance in details.

Exhibit 6

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Evaluation and Development Summary Form

The form help an employee to identified in prior year‟s evaluation and development summary as well as business objectives set in the earlier year. Self-evaluation form is refer to this form. The form have two parts. One i s review the annual performance and another one is future performance objectives of the employee.

Q: No.6:- How the organization generate the information through the form? Answer: - The organization generate the information through the form by that way:-

1. Evaluation Request Form: - That specific form help the organization to know about their employee performance that is evaluated by the subordinate, peer or internal clients. That form help the organization to generate the information of internal  performance of an employee. 2. Annual Self-Evaluation Form: - This form is help to generate the information of an employee self-realization and evaluation of his/her performance. That is help the organization to generate the information about the employee personal comment of that employees‟ performance. 3. Short Evaluation Form: - This form is help to generate the information of an employee strongest point of his/her performance. That form is help an organization to generate the information of an employee personal strongest point of the performance. Also know how to develop that employees‟ performance. 4. Long Evaluation Form: - This form is help to generate the information of employee in desalts and development process of that performance. 5. Annual Upward Evaluation: - As it is judge by the closely supervised the work so organization is also generate the most in-depth information about the employee. 6. Evaluation and Development Summary Form: - This form help an organization to generate the information about two things. One is review the annual performance report and another one is future performance objectives of the employee. That helps the organization to set the individual goal of the employee.