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Pay-for-performance: incentive rewards - Essay Example

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It can have good as well have bad effects on an employee’s performance and his morale. This system acts as a tool with the help of which an employee gets feedback on his performance. The…
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Pay-for-performance: incentive rewards
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Download file to see previous pages The most effective 360 degree feedback processes provide feedback that is based on behaviors that other employees can see."1
The feedback provided when this feedback system is made use of, gives an exact position of an employee. For instance, the feedback shows a picture of whether an employee is able to meet the expectations of a customer or not, this feedback is extremely important to accomplish the mission of the organization. The most important aim of this system is to make the employees aware of their strengths and weaknesses.
“When done properly, 360 is highly effective as a development tool. The feedback process gives people an opportunity to provide anonymous feedback to a coworker that they might otherwise be uncomfortable giving. Feedback recipients gain insight into how others perceive them and have an opportunity to adjust behaviors and develop skills that will enable them to excel at their jobs.” 2
The 360 degree feedback system is instrumental in individual development plans. It works in favor of employees and aims at their individual growth and development, also ensuring the growth of the organization. The system provides an in depth analysis of the annual performance reviews, this is extremely important for any organization because unless an organization reviews its employees’ performance, it cannot grow and prosper.
An overall feedback is aimed at when this method is employed, this ensures a good understanding of what is expected from an employee. The system does not provide any scope for deviance and this is exactly what makes it a really effective. This system is imperative in making employees work as a unit. Working together in an organization is extremely important and the system ensures just that. “360 degree feedback is one of the best methods for understanding personal and organizational developmental needs. For many reasons, organizations are no longer responsible for developing the careers of ...Download file to see next pagesRead More
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