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One of the most popular individual performance management tools in use today is the 360-degree feedback tool, also known as multi-source assessment, which incorporates feedback from the worker, top management, immediate superior, subordinates, colleagues, and customers.
Stemming from the study conducted by John Makinson in 2000, the British social service sector has embraced recommendations to remodel and rethink incentive schemes.
Employees are the most valuable asset of an organization. It is very important that they are motivated to do their jobs well, making the most of their time and skills within the company. But before being employees, they are humans, with their own needs and desires that are not always aligned with the company’s goals. Motivating employees thus becomes the key factor in achieving performance.
In a business world governed by benchmarks, targets and objectives, it is essential not to lose sight of a potentially valuable resource: the personal initiative. With efficacy in mind, individual performance is scripted, in order to keep a valid account of employee progress. However, this has proven to be detrimental to generating innovative ideas which could benefit the overall performance.
Before 2012, the Philippines Government rewarded employees from the board uniformily, regardless of their performance. In time, this approach proved to be limited in terms of motivating employees and stimulating progress. Therefore, an initiative to promote a performance and result oriented culture was implemented – The Performance Based Incetitives System (PBIS).
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