What are the key elements of MS 360° performance evaluation process?
The objective of the MS 360° performance evaluation process is to assess the professional and personal development of employees in the firm’s efforts to create a cooperative/teamwork based corporate environment. To assess the performance of employees’, three key questions need to be answered.
How the assessment can be collected?
Evaluation Request Form(360° feedback form): This form collects information on evaluatee’s strength and weakness across four categories 1. Market/Professional skills
2. Management and leadership
3. Commercial Orientation
4. Teamwork/one firm contribution.
Office of Development: The responsibility of “Office of Development” is to collect filled evaluation forms, consolidate all into a data packet for each person being evaluated.
Who should fill these Evaluation Request Forms?
List of Evaluators: Each employee is required to identify people with whom they regularly interacted and would be able to provide relevant feedback. A list of prospective evaluators is defined. This list includes Supervisors, peers, subordinates, “internal clients”. Each evaluator is categorized in one of 4 categories based on the nature of the working relationship to the evaluatee: 1) Downward 2) Colleague short 3) Colleague Long 4) Upward.
Self Assessment: The self-assessment was completed annually by each employee in conjunction with the 360° feedback. It was meant to compliment the information in the 360° feedback and was also used as a means for self-reflection. It was broken down in 3 sections as follows: 1. Business Goals & Accomplishments 2. Contribution to Morgan Stanley, division, and external/industry-related community 3. Professional Development. The first 2 sections were open-ended, while the final section consisted of a series of short answers. These forms also asked for the top 3 strengths and weaknesses.
How assessment is finalized?
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