3. Morgan Stanley during 1993
implemented a new firmwide
360 degree performance
evaluation system.
For over 2000 Professional
employees worldwide at a
total cost of over $1.5 million.
4. 360 Feedback
360 Feedback system in
which feedback was
solicited from superiors,
peers, subordinates and
internal clients
5. The First step was that all of the Professional
employees identified those people within the firm with
whom they interacted regularly and would be in a
position to provide substantive feedback on their
performance.
The list of prospective evaluators called Evaluation
Request Form (ERF) was reviewed and discussed with
the assigned evaluation director, typically the
evaluatee’s manager or supervisor
Submitted to Office of Department
Then distributed to the people listed on the ERF
And process the collective data into a Year- End Data
Packet for each evaluatee.
7. The self assessment was
viewed as an important
developmental tool offering
employees an opportunity to
reflect on their own
performance and also to
incorporate their perspective
into the final evaluation.
11. The performance criteria were increasingly rigorously as
one progressed up the organizational hierarchy. For
example, for professional skills, a vice president was
expected to be ‘ knowledgeable’ about the firm’s
products, a principal was expected to be ‘fully operative’
and a managing director should have ‘the broadest,
most in depth strategic knowledge of banking products’.
12. The office of Department collects all these forms and
consolidate all of the data into a 10-20 page document
for each person being evaluated. This document is called
Year End Data Packet and was informally known as
‘book’.
The evaluatee never see the actual comment made by
those who had completed evaluation forms. Instead this
the evaluation director produces Evaluation and
Development Summary
13. In the past assessment was done in a large group. No
assessment was conducted individually. They were
communicated verbally in a meeting by the seniors.
One employee stated that ‘they are very focused on
making sure that you ‘don’t ruffle feathers’. They want you
to be a team player and be a good to your colleagues.
He still believed at the end of the day the firm was result
oriented.
And he stated ‘ You need to be a team player and not to
ruffle feathers, but at the end of the day better bring in
the dollars.