720-degree Performance Appraisal - The Most Recently Introduced Concept in Performance Management System

Journal of the Management Training Institute, SAIL, Ranchi AN ISO 9001 – 2015 institute Vol 49. No. 2 Contents Jul – Dec 2021 A Few Thoughts Feature Articles jul 1 Steel Marketing Strategy Trends 2 Digital Marketing Strategy 3 720-degree Performance Appraisal – The Most Recently Introduced Concept in Performance Management System 4 Outsourcing HR Function : An Insight 5 Leveraging Technology for seamless delivery of superannuation benefits of pension and mediclaim in SAIL 6 Reinventing Human Wellbeing for Business Transformation in the World of Artificial Intelligence 7 HR Initiatives as enablers for Leading Team – The Bokaro Steel Plant Experience Reader’s Forum 1 Unleashing the Youth Power : The New Plate Mill, RSP experience Case Study 1 Curious Case of a Micro-Manager Book Review 1 Public Procurement and Contract Administration 2 Making the Elephant Dance: The Turnaround story of SAIL Article Digest 1 Identification of Energy Efficiency Trends in the Context of the Development of Industry 4.0 Using the polish Steel Sector as an Example ह दिं ी लेख खशु िय ां और आनदंा

ग्रोथ Chief Editor Growth Mrs Kamakshi Raman Executive Director (HRD), MTI, SAIL Vol 49. No. 2, Jul-Dec 2021 Editorial Board Parsuram Shaw CGM (HRD), MTI, SAIL Atanu Mukherjee GM I/c (Acad) MTI, SAIL Saurabh Singh GM (CHRD), MTI, SAIL Ms Daisy Mala Hembrom GM (CHRD) MTI, SAIL For internal circulation only The views expressed by the authors are their own and do not reflect those of the management

GROWTH Vol 49. No. 2, July – December 2021 Contents A Few Thoughts Feature Articles R R Singh, M Y Hussain 1 1 Steel Marketing Strategy Trends Ms. Shabnam Shadab 7 2 Digital Marketing Strategy Dr. Sukanta Mishra 12 3 720-degree Performance Appraisal – The Most Recently Introduced S K Singh 23 R Ahmad Siddiqui 28 Concept in Performance Management System J N Hembram 34 4 Outsourcing HR Function : An Insight 5 Leveraging Technology for seamless delivery of superannuation Mukul Prasad 41 benefits of pension and mediclaim in SAIL 6 Reinventing Human Wellbeing for Business Transformation in the World of Artificial Intelligence 7 HR Initiatives as enablers for Leading Team – The Bokaro Steel Plant Experience Reader’s Forum Abhijit Patnayak 47 1 Unleashing the Youth Power : The New Plate Mill, RSP experience Case Study S K Mallick 51 1 Curious Case of a Micro-Manager Book Review Vishwajeet Anand 57 1 Public Procurement and Contract Administration Ms D M Hembrom 60 2 Making the Elephant Dance: The Turnaround story of SAIL Ms. Sneha Shraddha 63 Article Digest 1 Identification of Energy Efficiency Trends in the Context of the इन्दर कु म र अचप्ल नी 66 Development of Industry 4.0 Using the polish Steel Sector as an Example ह दिं ी लेख 1 खशु िय ां और आनदां

A Few Thoughts प्रिय पाठक, नमस्कार Wishing you and your family a very happy and prosperous new year! As we ring in the new year, settling down to normalcy after some very trying times for humanity, we are again thrown the challenges that we all fought so valiantly. And, we are once again fighting it back, this time, more prepared and alert. These times have shown that the desire to keep going and not giving up, discovering new ways of doing things and rediscovering ourselves is the key differentiator between thriving and surviving. This edition of GROWTH is an effort to capture this spirit of never giving up. Those who don’t give up are like the Reeds in the Aesop Fable you must have heard of, which goes like this-“A mighty oak tree that was uprooted by a gale and fell across a stream into some reeds, asked the reed- \"How have you reeds, so frail, survived, when I, so strong, have been felled?\". \"You were stubborn and wouldn't bend,\" replied the reeds, \"whereas we yield and allow the gale to pass harmlessly by.\" Likewise, although the structure of GROWTH remains same, It has something for everyone on relevant topics in the form of articles, book digest, case studies, article digests with concise and meaningful content. The seven articles from various authors will give you insight on Marketing- Strategy and Digital marketing with reference to Steel Market. Insights on Leadership, example of Technology enabled HR practices, Outsourcing of HR practices, inputs on Human wellbeing for business transformation in time of AI & 720 degree Performance appraisal. The Hindi Article on खशु िय िं और आिनं द is about life’s lessons and learnings. The Reader’s Forum has contribution from one of our regular readers on his experience about leveraging the potential of Youth at workplace. The Case Study featuring in this issues provides inputs on how to improve people management skills and help create great teams that deliver results The Two Book digests look at two divers things- One is the Story of Journey of Turnaround of SAIL and other is about Public Procurement and Contract Administration. The Article digest looks at Energy Efficiency Trends in the Context of the Development of Industry 4.0 with refence to Steel industry. This addition of GROWTH will also have a mini collection of Knowledge bites from the Management Trainees who have joined RSP. This complementary collection has write ups from the MTTs on Steel Industry, Personal journey of growth as professionals, book reviews and knowledge pieces on few other organizations and sustainability issues. So options aplenty! Pick your subject of liking and learn something new! As we look at 2022 with hope and positivity, we urge you to follow the new norms and stay safe. Look forward to your valuable feedback and suggestions! Happy Reading! िुभक मन एंि कामाक्षी रामन कार्पय ालक ननदशे क (मानव ससं ाधन नवकास )

720-degree Performance Appraisal - The Most Recently Introduced Concept in Performance Management System Feature Article *Dr. Sukanta Mishra Abstract It is “Evaluate what you want - because what gets measured gets produced” ~ James A. Belasco essential for Performance Appraisal is a concept, started in the early 20th Century. It is the process of obtaining, improving analyzing and recording information about an employee to evaluate and improve their performance. the overall It is evaluated in terms of Quality, Quantity, Time and Cost and also analyses the value that the performan employee adds to the goals of the organization. This appraisal system has started from 90-degree to ce of 720-degree till date. Before introduction of 720-degree appraisal system, the companies were using employees. 360-degree system. 720-degree Performance Appraisal is one of the most recently introduced concepts. As the name suggests, 720-degree performance appraisal is an Integrated Method, where the employee’s performance is evaluated from 360-degree (Management, Colleagues, Self and Customers) and timely feedback is given. INTRODUCTION “C ontinuous Improvement Requires Constant Measurement” -It is rightly said that, “Encouraged people achieve the best; dominated people achieve second best; neglected people achieve the least.” Several methods are used for evaluating this performance in different organizations and 720-degree feedback performance appraisal is one of them which is considered an “all- round” appraisal. It is the evaluation of the performance of an employee from all the aspects and the success of an organization depends on the performance of the employees. It is essential for improving the overall performance of employees. It is introduced when employees’ performance is measured, analyzed and targets are set after the first appraisal, then it is repeated again after a period of time to get a proper feedback and ensures that employees of the organizations have achieved the target. LITERATURE REVIEW Kazi (2020) revealed that, the performance appraisal is a periodic event to reflect and evaluate past performance with the intent to identify strengths and weaknesses of an employee’s performance and to identify the developmental goals. 720 Degree Performance Appraisal, is considered as an “all- round” appraisal and is one of the most recently introduced concepts. *(PhD in Commerce & Management), Department of Business Administration, North Orissa University, Baripada. (India) 12

Raj and Manjula (2019) revealed that Performance Appraisal is when an employee is appraised and the appraisal meeting is conducted Performance Appraisal plays a vital role in any twice to ensure the efficient performance of the employee. Employees sometimes feel organization human resource framework. 720 psychologically not empowered as most of the management practices focus on mere Degree Performance Appraisal, considered an \"Empowerment of employees\" than “all-round” appraisal and one of the most recently psychological empowerment. To be empowered individual must \"feel\" empowered and hence introduced concepts. Performance Appraisal there is a need for better appraisal system to make employees \"feel\" empowered (Sreenivas and being a vital part of any organization, has Koneru, 2019) Manimozhi and Pougajendy (2019) mentioned that, Performance Appraisals undergone a lot of refinement, with the changing facilitate to develop people, improve structure performance and feed into business designing. needs and habits of both employer and employee. The 720-degree appraisal system evaluates the performance of employees based on 360 degrees. Different work places provide different It is the latest appraisal technique which associate degreed activity to find the performance of a challenges and opportunities to the employees worker, which is the most troublesome part of the Performance Appraisal Method. This appraisal and employers and accordingly the performance system has started from 90-degree to the 720- degree till date. Before this, the companies were appraisal system also varies in different using 360-degree system. As the name suggests, the 720-degree performance appraisal is one of workplaces (Naik, 2019). Sekhar (2019) the recently introduced concept and an integrated method where the employee’s performance is discovered that a systematic evaluation of the evaluated from 360-degree and timely feedback is given (Patil and Dalvi, 2019). performance of employees is very essential for an Lavanya and Kavitha (2018) mentioned that a organization to identify the irpotential. 720-degree Performance Appraisal is basically a 360-degree appraisal twice and an evaluation of Performance appraisal help san organization, an employee from all the aspects, giving timely feedback to ensure that the employee is able to understanding the expectations of employees achieve the set goals before next appraisal. This is a vital tool as it is used to appraise the from the organization and at the same time it is performance of an employee from different dimensions and help to overcome the barriers of also the responsibility of the Management to take bias, prejudice and discrimination. Sundara vadivel and Silam barasi (2018) revealed that, rational decision regarding salary hike, Performance Appraisal plays a vital role in any organization human resource framework. 720 promotion, job satisfaction, increasing morale of Degree Performance Appraisal, considered an employees which in turn improve their performance. Elhalem and Dawood (2019) mentioned that it is a recent tool that improves and evaluates the performance of employees from more than one side: manager, colleagues, subordinates, customers and himself. It is introduced when performance of employees is measured, analyzed and targets are set after the first appraisal, it is repeated again after a certain period of time to get proper feedback. Their research focuses that the possibility of applying 720-degree feedback as a new technique indicates evaluating performance of employees. Chrisos (2019) mentioned in the HR Tech Publication of Tech Funnel that, Performance Management is an important part of the responsibilities of any successful business. According to the International Journal of Multidisciplinary Research, a 720-degree 13

“all-round” appraisal and is one of the most vital role in any organization and the benefits recently introduced concepts. As the name cover a wide range from managing individual suggest, 720 Degree is 360 Degree twice. performances and group performances for achieving organizational goals and objectives. Since 720-degree performance appraisal has been 720 - Degree feedback is the most comprehensive developed, the performance of the employees has appraisal, which tries to help individuals to based on targets and can be measured in the first understand how others perceive them, increase appraisal then measured again after a given time communication, form better team environment & to ensure that they have worked efficiently and support teamwork, conduct relevant training, achieved the given targets (Raghav, 2017). Gulati improve customer service and better career and Gowtham (2017) clarified that performance development for employees (Chowhan, 2017) appraisal is important to determine whether the Jency (2016) mentioned that, Performance employees are performing effectively or not. The Appraisal plays a vital role in any organization. informal appraisals are evaluating the employee and an important tool in the hands of Personnel from one side only just from the manager’s scope, Management. 720 Degree Performance while formal appraisals are systematic Appraisal, considered an “all-round” appraisal evaluations and organizations put to assess and one of the most recently introduced concepts. performance of employees. As discovered by Raghav and Srivastava (2016), “The 720-degree approach gives people a very Hardeep (2017) also appended that it is a tool to different view as leaders and individuals.” This plan for the training and developing the allows leaders to not only gain a variety of views employees, and identifying their strengths and of their work roles but also of their lives outside weaknesses. Sujith (2017) revealed that 720- work. degree performance appraisal is an integrated method of performance appraisal where, the Majid (2016) added that Performance Appraisalis performance of an employee is evaluated from one of the most important Human Resources 360-degree (Management, Colleagues, Self and Development (HRD) practices, which is also Customers) and timely feedback is given and considered as a strategic competitive advantage to again performance is evaluated based on the consolidate the individual’s satisfaction level and targets that are set. Hence, 720-degree to raise employees’ productivity. Gupta and performance appraisal can be stated as twice 360- Gupta (2016) clarified that there are many degree performance appraisal: once when the associations who have tried formal appraisals to appraisal is done and the targets are set and the conduct performance reviews. The essential second where the feedback is given and the boss reason for that is to document employees’ gives tips to achieve the goals (Suman, 2017). performance, clarify and plan targets, get a correlation with human resources decisions, Rajeswari (2017) mentioned that, Men are the improve employees’ performance and finally most vibrant M in the 5(Five) Ms of Production develop a platform for communication and and Operations compared to Money, Machine, feedback. They also stated that though there are Materials and Methods. The performance of all many techniques to evaluate employees’ other Ms are depended on the Men’s performance, associations must try to pursue 720- Performance. In this scenario, the concept called degree performance appraisal one. Jency (2016) performance appraisal. As revealed by Gulati and stated that 720 degree comes from 360 degree - Garlapati (2017), Performance Appraisal plays a done twice. Thus, the performance appraisal is 14

done to evaluate the employees from all aspects happen except effective performance appraisals. and gives feedback in correct time to sure that As revealed by Toppo and Prusty (2012), the employees have achieved the goals and targets Performance Appraisal and Performance before next appraisal. Karkoulian, et al., (2016) Management were one of the emerging issues mentioned that nowadays, as a result of since last decade. Many organizations have developing market conditions, organizations get shifted from employee’s Performance Appraisal its effective productivity from well- planned System to employee’s Performance Management human resources management. System. Anupama, Mary and Dulababu (2011) publicized that Performance Appraisal is the George (2016) stated that employees nowadays process of obtaining, analyzing and recording require continuous and regular evaluation, information about an employee to evaluate and training, motivation and feedback; this is because improve their performance. Hemati (2011) and they have been exposed to several internal and Shutters (2013) added that one side assessment is external factors that affect their development and not enough to evaluate the performance and will growth. There are always some differences in lack reliability and accuracy. Oz and Seren abilities and perceptions of employees, as the (2012) and Karkoulian, et al., (2016) concluded quantity and quality of the same job can be done that traditional ways of appraisal became not differently by two persons. Thus, an excellent sufficient, not fair enough, and create great way of organization performance is necessary to tensions between employers and employees. be obtained and 720-degree performance appraisal can do so. CONCEPT OF 720 DEGREE PERFORMANCE APPRAISAL SYSTEM Chetan and Pattnaik (2015) have defined 720- degree performance appraisal as a new global Manawat (2017) has defined it as the most recent trend of evaluating employees, which gives form of assessment which has been presented employees the ability to recognize how nowadays in the new economy associations. themselves and others view their effectiveness at Jency (2016), Sing and Vadivelu (2018) clarified work. According to Russell (2015) and Hemati that it is a kind of double check of 360-degree (2011) 720-degree performance appraisal is performance appraisal. Thus, it is pre and post comprehensive and reliable. Shaout and Yousif round feedback. According to Seniwoliba (2014) (2014) stated that Performance Evaluation (PE) is and Singh (2015), performance appraisal is a key factor in improving the quality of work defined as a system that measures, develops, input and inspires staffs to be more engaged. identifies and assesses the employees’ Performance Appraisal System,an important performance and ensures the achievements of technique varies according to the nature of work their goals and objectives effectively. and designation within an organization and considered as a continuous process to conserve TECHNIQUES OF 720 DEGREE necessary information and correct decisions on PERFORMANCE APPRAISAL SYSTEM employees (Rani et al., 2014). Performance appraisals are classified into two Shayo (2013) reported that in order to evaluate categories which are the traditional methods and employees’ performance and encourage them to the modern ones. take correct decisions, organizations compete in the market through its employees and this cannot 1- TRADITIONAL METHODS: Gayathri (2013) stated that the semethods are old ways 15

in evaluating employees and are based on were developed to consolidate the traditional studying personal qualities such as: leadership, ones. loyalty, knowledge and judgment. a- MANAGEMENT BY OBJECTIVES a- CHECKLIST METHOD: A Simple (MBO): According to Singh (2015), this Form is prepared that describes several method is to set several listed objectives by objectives of the organization, then evaluators managers & employees and then assess will check whether the employee has employees’ performance regularly, and at last possessed each item or not, then tick beside it reward them for achieving targets. (Chugulu, 2014). b- 360 DEGREE FEEDBACK: Alexandru and b- RANKING METHOD: Gayathri Diana (2015) and Horng and Lin (2013) (2013) clarified this method, by ranking all stated that data collected about an employee employees and gradually putting them from came from multiple sources of evaluations, the best to the worst. which can be obtained from supervisors, work colleagues, sub-ordinates and clients. c- NARRATIVE ESSAYS: Gayathri Potocnik and Anderson (2012) clarified that (2013) added that this way depends on 360-degree feedback is very important to mentioning the strengths & weak points, employees to know how they were perceived previous performance & suggestions for by others at their working environment employees’ improvement and this is done by andthis feedback is used to develop an evaluator. employees personally and professionally. d- PERFORMANCE TESTS AND c- PSYCHOLOGICAL APPRAISALS: It OBSERVATIONS: Singh (2015) explained takes several shapes to evaluate employees’ that this method is based on employees’ skills potential for future performance such as:in- or knowledge and can be done in a skills’ depth interviews, supervisors’ discussion, and presentation or a written format. psychological tests, which are more focused on personal characteristics of employees such e- FORCE DISTRIBUTION METHOD: as: emotional, motivational, and intellectual Sing and Vadivenlu (2016) stated that this ones and theseaffect performance of method is an old one which was widely used employees (Khanna and Sharma, 2014). by huge organizations and based on ranking the employees into three categories which are DIMENSIONS OF 720 DEGREE excellent, good and poor. It lacks PERFORMANCE APPRAISAL SYSTEM transparency as the employee does not know or understand the process of his/ her The 720-degree performance appraisal has evaluation. Employees with top rank will be two rounds feedback (pre and post) with 7 put in the leadership development programs of basic dimensions: the organization. 1- PRE-APPRAISAL FEEDBACK: Manawat 2- MODERN METHODS: Shaout and Yousif (2017) mentioned that this step is done (2014) mentioned that the modern methods immediately after the appraisal is collected from different people whom the employee 16 would interact. Thus, employee’s performance is evaluated and then goals &

targets are set. Accordingly, organizations Self Peers can apply suitable training for helping employees to achieve the goals. Pre- 720- Post-feedback feedback Degree Customers 2- SELF- APPRAISAL: This step allows to Performa judge the performance of employee as he/she Managers is given a questionnaire to answer to have the nce ability to evaluate himself/herself. This step Appraisa gives employees the opportunity to express their strengths and weaknesses. (Manawat, l 2017). Sub- 3- PEERS / COLLEAGUES APPRAISAL: ordinates This is essential for employees to show their ability to work in a team and to achieve the Figure1: Dimensions of 720-degree goals of the organization (Ali, 2016). Performance AppraisalSource: (Manawat, 2017) 4- CUSTOMER APPRAISAL: Ali, (2016) added that this appraisal is done by IMPORTANCE OF 720 DEGREE customers who were satisfied or not. It can PERFORMANCE APPRAISAL SYSTEM be done in written letters or online. It is very important to review employees’ performance. Sujith (2017) summarized the importance of this appraisal because of being pre and post 5- SUB- ORDINATES APPRAISAL: Si feedback, so there is a given time to let (2017) clarified that this is important for an organizations set realistic targets and ensure that organization to understand employees’ employees have achieved targets before the abilities such as: communication skills, second appraisal, discovering the work potential leadership, motivating abilities, and how they and also giving the chance to guide the handle responsibilities. organization about the training required to achieve the best performance. 6- MANAGERS AND SUPERVISORS APPRAISAL: Si (2017) added that there is Jency (2016) added that this appraisal enhances another evaluation which comes from their transparency and fairness, reduces barriers like supervisors at work. prejudice, discrimination and bias, also let the organization understands its employees’ 7- POST APPRAISAL FEEDBACK: expectations. Ali (2016) mentioned that it According to Si (2017), this step makes 720- assists in taking decisions related to salary degree performance better than 360-degree, fixation, marketing, demotion and transfer. as the performance assessed is based on the goals and targets in the pre appraisal step, which helps employees to improve their performance. 17

Moreover, it helps in providing information to Vol. 2 No. 3, pp. 617 – 621. determine employees’ deficiency in skills and 2. Ail, Y. A. (2016), “A Study on Modern knowledge. George (2016) stated that the high turnover of employees nowadays is mainly Methodologies in Performance because of the unhealthy relationship between Appraisals”, International Journal of managers and employees. Advanced Trends in Engineering and Kaur (2013) and Al- Jammal (2015) clarified that this appraisal can give better analysis and Technology, Vol. 1 No. 1, pp. 126 -128. can improve feedback of employees from different aspects and dimensions. According to 3. Al- Jammal, K. (2015), “Staff’s Al-Jammal (2015), Aggarwal and Thakur (2013) and Punnavanam (2017), this appraisal Performance Appraisal: The Case of obtains better service for the customers and helps in developing better and co-operative Lebanese Private School Principals team work. through teachers’ Perception”, 6.0 CONCLUSION International Journal of Management Many Management Experts feel that doing a comprehensive 360 Degree Appraisal is not Research and Review, Vol. 5 No. 3, pp. 745 complete in itself. They feel that an effective – 776. procedure to measure improvements and receive feedback is essential for success of any 4. Alexandru, M. and Diana, M. (2015), appraisal. The 720 Degree evaluation is “Management skills assessment using 360 emerging as a possible alternative appraisal feedback - MSF 360”, Procedia - Social technique. Organizations are slowly but steadily and Behavioral Sciences 187, pp. 318 – realizing the need for this new system, which is better than the existing 360 Degree evaluation, 323. especially in terms of focus of the evaluation and involvement of evaluators in the process. 5. Anupama, Mary, B. T. D. and Dulababu, T 720 Degree Appraisal System is a powerful (2011), “The Need of ‘720-degree developmental tool. Many organizations are beginning to realize that the skill base of their Performance Appraisal’ in the New executives and managers does not match the requirements of a rapidly changing Economy Companies”, ZENITH environment. Without these critical competencies, executives and managers are less International Journal of Multidisciplinary likely to be able to lead these organizations towards successful implementation of strategic Research, Vol. 1 No. 4, pp. 39-50. changes. 6. Chetana, N. and Pattnaik, L. (2015), References “Determinants of Performance Appraisal: An Empirical Stud”, International Journal 1. Aggarwal, A. and Thakur, G. S. M. (2013), of Advance Research in Computer Science “Techniques of Performance Appraisal-A and Management Studies, Vol. 3 No. 11, pp. Review”, International Journal of 150 -161. Engineering and Advanced Technology, 7. Chowhan, S. S. (2017), “720 - Degree 18 Performance Appraisal: An Expressive Study”, International Journal of Management, Law & Science Studies, Vol. 2, No. 4, pp. 23-28. 8. Chrisos, M. (2019), “The 7 Stages of 720- Degree Performance Appraisal”, TechFunnel ~ HR Tech, Source: https://www.techfunnel.com/hr-tech/the-7- stages-of-720-degree-performance- appraisal/, Published on July 24, 2019.

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