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	Performance & Reward Management
	KPMG's performance and reward systems aim at: Objective evaluation of employees, through their co-operation and participation Utilization of employees’ potential in accordance with personal and organizational goals Development of a rewarding and motivating working environment Opportunity for the employees to discuss career development issues KPMG's performance appraisal systems Our systems are customized to client needs and include: Balance Business Scorecard (BBS): Performance appraisal method based on four principles: financial outcomes, clients, human resources, and internal procedures/organization. It includes common categories of goals for all employees regardless their position, geographic area, department etc. Management by Objectives (MBO): Performance appraisal method based on the principles and philosophy of “Management By Objectives”. It includes the setting of specific, measurable, and challenging goals. Competency Based: This system refers to the evaluation of competencies based on approved performance standards, e.g. know-how, communication, problem solving, planning etc. The competencies are analyzed in behavioral indicators and are usually differentiated according to the hierarchical level, reflecting the organizational culture. 360° Feedback: Evaluation method in which the immediate supervisor, other supervisors, peers, subordinates, internal or/and external clients, and suppliers comment on appraisee’s performance. 180° Feedback: Evaluation method in which the employee receives comments, regarding his/her performance, from his immediate supervisor and his subordinates. Benefits from using KPMG Performance Appraisal Systems Improvement of the performance of employees through training and development programs, which are implemented taking into consideration the evaluation results Improvement of the communication and co-operation between appraiser and appraisee Facilitation of the feedback procedure Increase of employees’ motivation and self - control
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