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360 Degree Performance Appraisal

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Submitted By mand33ra
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TABLE OF CONTENTS

1. INTRODUCTION 1

1.1. Performance Management System 1

1.2. Performance Appraisal System 1

1.3. 360 Degree Performance Appraisal System 3

2. THE OBJECTIVES OF 360 DEGREE PERFORMANCE APPRAISAL 3

3. PROS AND CONS OF USING 360 DEGREE PERFORMANCE APPRAISAL SYSTEM 4

3.1. Pros 4

3.2. Cons 5

4. 360 DEGREE PERFORMANCE APPRAISAL SYSTEM: BEST PRACTICES 5

4.1. Performance Appraisal Techniques used in Procter & Gamble Company 5

4.2. Performance Appraisal Techniques used in General Mills 6

5. REFERENCES 7

INTRODUCTION

1 Performance Management System

Performance management is a process by which managers and employees work together to plan, monitor and review an employee’s work objectives and overall contribution to the organization. More than just an annual performance review, performance management is the continuous process of setting objectives, assessing progress and providing on-going coaching and feedback to ensure that employees are meeting their objectives and career goals.
In today’s tough economy, businesses in all sectors are looking to increase productivity and reduce expenditure to improve their bottom line results. It is difficult to know whether your chosen path has taken you where you intended to be or will take you where you want to go, unless you review, make corrections, and stay focused. Having the knowledge and skills to implement performance management effectively is crucial to achieving good results. If performance management is not managed well it can have far reaching negative consequences which can include disengaged staff, increased negativity, wasted efforts and provide a poor return on investment.
A well-defined performance management system results in: – Improved visibility and insight into the true drivers of value – Proper identification of the right key performance indicators –

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