It is vital for any organization to focus on its key resource—human resource—to increase productivity. The performance appraisal system not only evaluates the employees' efficiency, but also expectations and satisfaction regarding the various aspects of their job. As per 360° performance appraisal, questionnaires were used to obtain feedback from the employees themselves, their superiors, peers and customers. The capabilities and execution with regard to business acumen, customer focus, values and ethics, vision and purpose, bias for action, commitment, teamwork, innovation, developing people performance and decision making were considered.

In today's changing and volatile world, organizations are continually looking for ways to improve performance and satisfy the demands of all stakeholders. Achieving this position inevitably involves change, which then becomes the pivotal dynamic for success. An organization's success depends on the people it employs and whether they adopt innovative changes. They should know their level of current performance and improvements needed in it. This is the area where 360° feedback plays a vital role in organizations. It has the ability to provide structured and in depth information about current performance and the required performance of an individual in future.

The value of effective performance appraisal systems, in particular 360° feedbacks, is for the overall well-being of all organizations and its importance is being realized by business leaders now.

A 360° performance appraisal system seems to be a perfect performance appraisal that fits the current day scenario for evaluation, as it obtains appraisal/feedback from all angles—employee, manager, customer and others. The traditional appraisal system generally allows bias and personal influences the researcher wanted to provide the management of Reliance Life Insurance with a model of 360° appraisals that gives a feedback from all angles. It is possible to analyze the performance of employees from various perspectives. Hence, the study on 360° performance appraisal is important to a company like Reliance Life Insurance.

Management Research Journal, Performance Appraisal Systems, Reliance Life Insurance, RLI, Human Resource, HR Management, HRM, Time Management, Data Collection Method, Reliance Capital Limited, RCL, Anil Dhirubhai Ambani Group, Reliance Capital, Financial Services Companies, Non-Banking Financial Company, NBFC, Reliance Group Term Assurance Policy, Provident Fund Act.