Role of 360 Degree Feedback Mechanism on Employee Performance at Barclays plc: Upton Park Branch

By

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION1

Background of the Research1

Performance Management and Performance appraisal2

360 Feedback5

Barclays bank6

Purpose of the Study7

Research Question7

Aims and Objective of the Dissertation7

Objectives7

Layout of the dissertation8

REFERENCES9

BIBLIOGRAPHY11

APPENDIX16

CHAPTER 1: INTRODUCTION

Background of the Research

Feedback, in its various forms, constitutes a major component of what many organizations have come to know as a Performance Development or Performance Management Plan (Maurer, Mitchell, Barbeite, 2002, 87). Of those surveyed, over 70% responded that their organizations had written performance development plans for most (at least three out of four) of their executives. Sixty-four percent of the respondents reported that their organizations had performance development plans for most exempt employees, and 45% had plans for most non-exempt employees (Undung, De, 2009, 19). Eighty-five percent reported that performance plans were largely done in conjunction with performance evaluations on an annual basis (Avolio Bass Jung, 1999, 441). They further reported that survey respondents were significantly more satisfied with traditional system components of performance management systems (appraisal and discipline) than they were with the developmental components (multi-rater assessment, leadership development, and coaching) (Reilly, Smither, Vasilopoulos, 1996, 612).

According to SHRM, this may be due to the fact that organizations have been using traditional appraisal methods for a longer period, and that organizations have only recently started thinking about development as part of their performance management systems (Bandura, 1982, 247). Much as gauging performance measures was expected in mass production and manufacturing environments of the past, the concept of measuring the effectiveness of these intellectual assets has been extended into the knowledge-based arena. Formal individual feedback processes were put in place to meet this demand for measurement of employee performance, and are generally utilized for two primary purposes: performance appraisals and individual development (Drew, 2009, 581).

Performance Management and Performance appraisal

Performance management is the act of identifying and tracking development for a time-period for growth and development purposes. Managing performance occurs in an environment where growth and development are encouraged and made possible by the organizational leaders buy-in and allocation of resources (Kenneth, Nowack, 2009, 280). The primary component of managing performance is the personnel within the human resource construct. Managing performance speaks to the human resource approach to managing people. Leaders, managers, and sometimes the project leads of the organization, carry out the human resource performance management function. The employee management arena spans from recruitment, hiring, training, and developing, pay and benefits to explaining the organization's expectations (McCarthy, Garavan, 2001, 5).

The human resource function can take an established or developed framework and utilize it to clearly communicate what the performance indicators, standards and goals are that will be discussed, measured and consistently reviewed, and what reward or recognition will result from doing such with those whose performance is being managed (Luthans, Peterson, 2003, 243). This monitoring and feedback progress will point to any adjustments needed to achieve those goals and to do so more effectively and efficiently. The intent of managing performance is so that both ...