The relation between appraisal systems and annual reward and compensation systems and it's application in an institutional companies

While competitions are increasingly getting hard while the changings are continuously going on especially in management systems in global or in local markets, organizations should evaluate and give the exact worth to their manpower if they want to survive in this full of dynamics. The basic question of the problem is how we can get benefit from our manpower more effectively. The answer should be development and surely we can only evaluate these improvements by measurement. The methods which were evaluating only by managers at past were subjective and defective. That?s why the 360 degree feedback method is the latest method which researchers were established. Meanwhile that doesn?t mean that if the company determines the performance of manpower truly, they will have full of qualified manpower. They should make those data concrete and they should turn those data to a various incentive methods. In this case the important point for us is to have a reward and compensation system which covers all manpower without any exceptions and which supported by the concrete outputs of appraisal systems. In our work we investigate the appraisal systems and reward and compensation systems which are one of the most important functions of human resources. Besides we especially investigate 360 degree feedback method in this study. In the last part of our study we explained the leading institutional company which works in the insurance field by using questionnaire and statistical analyzes. It is also using 360 degree feedback method and it has a reward and compensation system which uses the concrete outputs of this method. The result of this study we found a significant relation between appraisal and reward and compensation systems. Meanwhile the appraisal systems were providing the reward and compensation systems with concrete data and there was no difference in perception of manpower about those conclusions. We wanted to inform the reader that those methods are efficient, successful and fair while making this study. Keywords : Performance, 360 degree.