Multi Source Performance Appraisal

In an organization employees are the important asset and play a significant role in the progress of an organization. Nowadays firms usually focus on the human capital in the form of the employees by giving them training, assisting them in career development and also work on performance management in order to keep the employees motivated and dedicated by giving them feedback through performance appraisals. Through these performance appraisals the employees are informed about their strengths that they can enhance and about their weaknesses that they can improve in the future.
Multi-source performance appraisal or 360-degree…show more content…
It also helps to highlight those areas in which the employee can be trained and it is also beneficial in the employee development. This appraisal method can be beneficial for those people who are in inferiority complex and underestimate themselves, to change their mindset and remain motivated after getting a positive feedback from their co-workers, bosses etc.
One of the major benefits of this method is that it reduces the chance of discrimination as the feedback is collected from a very diverse group of individuals. It is an important tool to bring a change in the performance of an employee that result in organizational effectiveness. It is also beneficial in making the performance of the employee parallel with business values. Customer service may be improved by the front line employees by getting feedback from the customers through this method as this provide the opportunity to the employees to think on those areas where they are not performing well. Due to above advantages of multi-source performance appraisal method many big companies like Johnson and Johnson Limited, IBM , Xerox etc. use this method and are very successful in today’s competitive world as this method is more accurate and gives more reliable information than the traditional performance appraisal methods.
 Disadvantages of Multi-Source

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