Essay About Morgan Stanleyprocessall Of The Professional Employees And Degree Performance Evaluation Process

Firm Wide 360 Degree Performance Evaluation Process at Morgan Stanley
THE FIRM WIDE 360 PERFORMANCE EVALUATIONPROCESS AT MORGAN STANLEYProcessAll of the professional employees identified those people within the firm with whom they regularly interacted.Evaluation Request Form (ERF) is the list of above identified prospective evaluators and is reviewed by the evaluatee’s manager or supervisor.ERF was then submitted to the Office of Development.Processing of evaluation forms into a Year-End Data Packet for each evaluatee.Each professional also completed their own self-evaluation.DisadvantagesIt took a great deal of time and effort to write clear and consistent summaries.Numerical ratings were used as if they were somehow ‘real’ and precise.Summary number was a crutch that allowed people to discount the qualitative information contained in the open ended summaries.Existence of rampant ‘grade inflation’ with numeric scores and written comments.Questioned the importance of commerciality, leadership and management.  The biggest challenged included how to weigh the criteria and the input from different evaluators.The evaluatee never saw the actual comments made by those who had completed evaluation forms.A complete disconnect between a person’s self -perception and that of the colleagues, superiors, and subordinates.AdvantagesSystem advantages those who may not be good at promoting themselves.Transparency in terms of seeing through those who are ‘too good’ at self – promotion. Inclusion of numeric sales and an overall summary rating for the intention of facilitating comparisons across individuals.Helps to make better decisions.Perceived as helpful in conducting performance appraisals because the manager was able to draw on detailed and specific information from a broad cross-section of employee.Evaluators were free to express themselves.Rigorous performance criteria as one progressed the organizational hierarchy.