Abstract:
1. Introduction
In today's dynamic business world, employee performance evaluation is
crucial for a successful business. Against this backdrop, 360-degree
performance evaluation has gained recognition for its holistic approach,
involving feedback from various stakeholders. This recognition has
prompted the scientific community and practitioners to investigate the
implementation of 360-degree performance systems across various
industries, due to the limited literature on the factors contributing to their
successful deployment. This study aims to bridge knowledge and
contextual gaps by exploring the successful factors for effectively
implementing a 360-degree performance appraisal system at ABC
Company in Sri Lanka’s banking and finance industry.
2. Research Methodology
Using a case study strategy under an inductive research approach, this
qualitative research study focuses on a Sri Lankan company in the financial
industry that has successfully implemented a 360-degree evaluation
system. Eight managers experienced in the system's implementation were
interviewed from different organizational levels. Data collection was
conducted through semi-structured interviews, and thematic analysis was
used for data analysis.
3. Findings and Discussion
The study identified critical success factors essential for an effective 360-
degree evaluation system. Findings confirm established insights, such as
the importance of strategic leadership style and a shared vision, while also
revealing new factors specific to this research context: a flat organizational
structure, strategic congruence, and value-driven culture.
4. Conclusion and Implications
This research offers valuable insights for professionals seeking to
implement 360-degree evaluation systems, emphasizing alignment with a
value-driven culture and a learning-oriented organizational approach.
Additionally, it enriches the existing body of knowledge with findings
unique to the studied context, including the importance of a flat
organizational structure and strategic congruence
