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All three concepts are nowadays generally known and used within organizations. In this context the question that arises most often refers to which one of them is the most effective. A relevant aspect to take into consideration is that there currently is no best choice between these processes. Each one can be the most suitable choice for an employee, depending on the organizational strategy, departmental goals and individual targets.
The 360 degrees approach when it comes to evaluation implies collecting feedback about an employee from all perspectives – all parties an employee comes in contact with during his or her daily activity. Such evaluation requires a well implemented software tool in order to gather all data from peers, subordinates, colleagues from other departments, clients, immediate superior and top management.
Nowadays, in the highly competitive business environment, performance has become both an aim and a desideratum for companies. In order to thrive and perform well at organizational level, a company needs motivated employees.
In today’s challenging business environment, it is a prerequisite to achieve a human capital advantage in order to ensure business success. This has led to an interest in the development of tools to measure the value and impact of human capital. Some of the human capital Key Performance Indicators (KPIs) and their possible uses are listed in the graphic above.
![Performance_Reward_Systems[1]](https://www.performancemagazine.org/wp-content/uploads/Performance_Reward_Systems1.jpg)
With the end of the fiscal year approaching, companies now have the opportunity to review their performance at organizational, departmental and personnel level. The employees are, perhaps, the most important resource of an organization, as they can influence the company’s results to a large extent.
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