A STUDY OF 360-DEGREE PERFORMANCE APPRAISAL FOR WORK QUANTIFICATION AND EMPLOYEE REWARD WITH REFERENCE TO LISTED MSMES IN PUNE

Abstract

The present study is aimed at analysing the job outcomes measured on a 360-degree performance review and how they are related to employee rewards by observing selected listed MSMEs of Pune. The primary data was gathered from 75 respondents (HR managers, line managers and employee representatives) by using the same questionnaires. A positive relationship of work quantification and work had been found with the evaluation system and was fair with the recognition system and statistical analysis showed that knowledge of the evaluation system has a significant impact on work quantification and work rewards distribution. Studies have demonstrated that an instrument for evaluating the performance from multiple perspectives will result in greater accountability, transparency and motivation. If an organisation makes the incentives (rewards) in sync with the results of the assessments, it can result in higher engagement and in making the organisation more effective. The study will contribute to enriching the literature because it presents the actual outcomes as to how effective the implementation of 360-degree assessment is in the MSME sector and it will suggest the institutionalisation of 360-degree assessment for the surety of sustainable development.