Abstract: In this paper, the 360-degree feedback concept in performance evaluation is examined. Compared with the traditional information feedback system featured a single source of information, 360-degree feedback system is highly credible and effective. Since with this evaluation system, staffs' performance can be fully assessed by all related evaluators, such as supervisors, subordinates, peers and themselves. However in practice, evaluators tend to overestimate themselves while underestimate others, or even there will be a strategic evaluation leading to a assessment deviation. Moreover, weights assigned to different evaluators in practice are always fixed, which makes it difficult to adjust all kinds of bias. To address this issue, the conventional 360-degree feedback method is improved. Firstly, a 360-degree sealed scoring evaluation model is constructed to obtain and combine information from multiple evaluators. To ensure a uniform scoring scale from different evaluators, a standardized parameter K_j^* is introduced, which is entirely ignored in existing researches. Then, consistency indices are designed to depict the deviation degree between self-evaluation and peers-evaluation. Based on consistency analysis, a reasonable weight adjustment method is proposed, in which a smaller weight will be assigned to inconsistent scores. In fact, the weight adjusted method is a kind of mechanism design, which aims to bound strategic evaluation or reduce deviations caused by psychological factors. Finally, the approach is applied to rank employees' contribution, and its effectiveness is demonstrated by comparisons with conventional 360-degree method.

Key words: 360-degree evaluation, consistency index, weight adjustment, mechanism design