The client is a US based hedge fund. They have approximately 200 employees on their rolls.
Problem Statement and Business Needs
The organization comprised mostly employees with research and analysis as being their core profile. Leadership team wanted a more flexible and intuitive online 360 degree appraisal system, allowing employees to get more effective feedback. The organization was appraising employees based on their personality attributes but felt that behavioral competency based solution would be more appropriate for individual contributors.
Further, the prior year ratings (as averages) were also to be displayed to the appraisers when they were rating the employees to help them understand the improvements in the employees. The process needed full anonymity such that the employees would not be able to identify the ratees and there were requirements for complex reports to share the feedback with employees.
- Intuitive and user friendly 360 degree feedback process to increase participation across organization
- Survey questions were customized to address the skills which were most critical at various levels of the organization
- Flexible solution to meet the requirements at a very reasonable cost
- Customizable feedback reports were created to provide relevant information on strengths and development areas and also provide individuals a mechanism to interpret feedback without use of individual guidance
Empxtrack implemented its competency based 360 feedback appraisal module. Empxtrack 360 Review enabled employees to solicit feedback from their subordinates, peers and seniors to know how they are perceived in the workplace. It helped individuals to identify potential areas of improvement leading to a self-development plan.
- Increased participation and ease-of-use with integrated system
- Gives flexibility to HR to gather employee ratings from different reviewers
- Configurable workflow allowed HR managers to initiate the 360 degree review process and specify the minimum and maximum number of peers, subordinates and seniors
- Dashboards gave real time monitoring of the process and allowed HR to identify employees or reviewers who had not completed the feedback in a timely manner and send them system based reminders.
- Custom reports allowed more productive feedback discussion sessions between employees and managers.