Performance Appraisal plays a vital role in any organization human resource framework. Performance Appraisal is an important tool in the hands of personnel management because this technique accomplishes the main objective of the organization to the development of the people by appraising the worth of the individual. There are different method of Performance Appraisal based on the type of the organization, size of the organization and also the period when it is used. 720 Degree Performance Appraisal, considered an “all-round” appraisal, is one of the most recently introduced concepts. As the name suggest, 720 Degree is 360 Degree twice. 720 Degree Performance Appraisal is the evaluation of an employee from all the aspects and giving timely feedback to ensure that the person is able to achieve the set goals before the next appraisal. Many
Management experts feel that doing a comprehensive 360 Degree Appraisal is not complete in itself. They feel that an effective procedure to measure improvements and receive feedback is essential for the success of any appraisal. The 720 Degree evaluation is emerging as a possible alternative appraisal technique. Organizations are slowly but steadily realizing the need for this new system, which is better than the existing 360 Degree evaluation, especially in terms of the focus of the evaluation and the involvement of the evaluators in the process. Here, an attempt is made to highlight the need and significance of 720 Degree Performance appraisal in the modern business world and also differentiate this new emerging technique from the 360 Degree Performance.