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360 Degree Performance Morgan Stanley - Case Study Example

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The system is extremely costly to implement and there are mix feelings about its effectiveness. The performance evaluation system has a cost of $1.5 million per…
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360 Degree Performance Morgan Stanley
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Download file to see previous pages The problems at Stanley Morgan are associated with the improper assessment of the personnel of the company. The new system that is going to be implemented should resolve a lot of the inefficiency of the old system. I do not think that the problems the company faces are a symptom of a larger problem.
An immediate issue that needs to be address is to ensure that the new evaluation system does not promote individualism over teamwork. “Teams are groups of people who work actively together to achieve a purpose for which they are all accountable” (Schermerhorn, Hunt, Osborn, 2003, pg. 192). The new evaluation system does not have the capability to differentiate between team skills and personal abilities of the workers. Team skills are a valuable ability for an employee to have due to the shift way from individualism in the corporate world.
The new strategic direction of Morgan Stanley is geared towards being able to fully access the performance of the employees in order to maximize the capabilities of the workers of the firm. The new system will directly impact over 2,000 employees at Morgan Stanley. Strategic planning is critical to the success of a business because it describes where your company wants to go (Pirraglia, 2012).
The morale of the employees is an important factor to monitor at Morgan Stanley. Three ways to improve employee morale are to keep employees feeling like work is more than just a job in an effort to keep enthusiasm high, creatively celebrate accomplishments, and allowing employees the freedom to pursue projects they are passionate about (Erb, 2012). Keeping the morale of the workers at the company high is very important because unmotivated workers with low morale typically are less productive employees. The job performance of the employees of a firm is the responsibility of the managerial staff ...Download file to see next pagesRead More
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