720 Degree Performance Appraisal Systems

Abstract

Human resource (HR), the most important asset in any organization and its significance to any company is very well known accordingly.The picture in present scenario tells us that the overall performance of the company depends on its ability to observe the performance of its members.The specific measure on which an organization's performance depend, by using the same measure we can improve and optimize the employee's performance.The performance appraisal system plays very important role in human resource framework.This concept has stated in 20th century.It is the process of obtaining, analyzing and recording information about an employee to evaluate and improve their performance.This appraisal system has started from 90 degree to the 720 degree till date.Before the 720 degree appraisal system, the companies are using 360 degree system.But in modern management, the 720 degree appraisal system is about to work efficiently.It is an integrated method where the employee's performance is evaluated from 360 degree (Management, Colleagues, Self and Customers) and timely feedback is given.The performance is evaluated against the set targets.Therefore, we can state 720 degree appraisal as twice 360 degree appraisal.As the name suggests, the 720 degree performance appraisal is one of the recently introduced concept and the evaluation of the performance from all the aspects and gives timely feedback.In this paper, we are going to analyze and study the 720 degree performance appraisal system on various aspects.

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