Morgan Stanley adopted a new 360 degree performance evaluation process led by Chief Development Officer Tom DeLong. The process involved employees submitting evaluation request forms listing prospective evaluators from across departments. Evaluators then provided feedback that was compiled into year-end data packets for each employee. Issues with the old system included a lack of individual feedback and subjective assessments done in large groups. The new process aimed to provide more rigorous and detailed evaluations from a broad cross section of employees, but faced challenges from subjective evaluations, qualitative information, and potential for leniency or inflated ratings among evaluators. Recommendations were made to provide more structure and quantified scales to assessments.

1. THE FIRM WIDE 360 DEGREE PERFORMANCE EVALUATION PROCESS AT MORGAN STANLEY