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In: Business and Management

Submitted By MucYoung
Words 513
Pages 3
Morgan Stanley: The 360 Performance Evaluation Process

▪ 1993: Morgan Stanley (MS) implements firmwide 360-degree evaluation process for over 2,000 professional employees at cost of over $1.5M.

▪ MS’s HR department is called Office of Development; Chief Development Officer is Tom DeLong

The New System: ▪ Guiding Principle: 360-degree feedback solicited from: o Superiors o Peers o Subordinates o “Internal Clients”

▪ The Process: ▪ Professional Employees identify folks in Firm with whom they regularly interact. ▪ List of Prospective Evaluators (Evaluation Request Form or ERF) is reviewed by evaluatee’s manager. ▪ ERF submitted to Office of Development ▪ Office of Development distributes eval forms to the people on the ERF, collects complete evaluations and processes them into Year-end Packet for each evaluatee. ▪ Concurrently, each professional completes a self-evaluation

▪ Evaluation Criteria: ▪ A big challenge was deciding on criteria. 4 broad categories won out: • Market/Professional Skills (analytical skills, market knowledge) • Management and Leadership • Commercial Orientation (client relationship management) • Teamwork/One Firm Contribution

▪ Generally, an open –ended form asking for specific info on strengths and weaknesses across all four areas was used. ▪ Investment Banking Division also used a 5 point scale (1=unsat, 5=outstanding) ▪ Performance...

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