How happy are you with the tool that is used to measure your performance at your work place?

For me it is acceptable. I belive something is better than nothing. 

As I understood through my experience and knowledge there is no tool that can measure someone's performance. Sometimes there are situations where an employee comes out with the best colors through (whichever tool or apparatus) and seems to be above the mark/level but the inside politics (could be within the team he/she is working, or supervisors or the direct line manger (s)) play because of which sometimes, I repeat sometimes, that employee is completely overshadowed and minimized which ultimately fails; or at least gets him/her to a level which is not loved/liked by those who are in the process of measuring the performances.

To measure the performance, we have been using KPIs and performance is back by the achievement. Though the behavioral competencies are also a crucial part of gauging the performance.

360 degree performance appraisal system.

It is just eye-wash for the management.

In fact, my performance is been measured and evalued on daily basis when I interact with my teams and senior management.