I also think a 360 system would be a little brave at this stage, however before you rush into a performance appraisal system consider what it shoud achieve:
If your organisation’s performance management system was a success, how would you know? Define the differences you are intending the performance appraisal system will make in your organisation. What are the benefits for the employer and the employee? List what people would be doing, or saying or feeling about it, if your organisation’s performance management system was successful. This will help you recognise what impact the system is having on people, and whether or not you need to manage that impact.
Identify what skills or knowledge people need to perform successfully in their jobs and how that will improve the business. This will help you recognise what kind of training might be required and what the cost of that training may be. No use appraising everyones performance when there is no training budget!
Think about what people would be doing differently in relation to performance, This will help you recognise what kind of what kinds of behaviour you want your performance measurement system to drive or encourage (and to not drive and not encourage).
Identify what impact it would have on business success or sustainability and sell that vision to seniors in the organisation
7th June 2011 From United Kingdom, Manchester