Handling criminal investigations: How to deal with government probes that targets at least in part, your conduct--from the beginning of the investigative process through potential indictment.

• Author: Attanasio, Michael A.
• Position: MANAGING LITIGATION - Report

The nightmare can begin in several ways. It could be a federal grand jury subpoena directed at the company's accounting or contracting practices.

It could be the execution of a search warrant at the corporate headquarters or at an executive's home.

It could be a phone call from a panicked employee who was just visited by Federal Bureau of Investigation agents.

It could even begin as a news report confirmed by "unnamed sources" describing an investigation of a firm.

No matter how a criminal investigation starts, the days, months and even years that follow can resemble a Kafkaesque drama of unprecedented stress, expense and public humiliation.

In the worst-case scenario, it could end in a lengthy jail sentence such as those recently imposed on fallen executives who have become virtual household names for all the wrong reasons.

The following is a common-sense primer on how a financial executive should handle criminal investigations that target--at least in part--the executive's own conduct. It will address various stages of the white-collar investigative process, from the first moments of an investigation through potential indictment.

To be sure, the topics addressed are not exhaustive and every case requires a unique approach. Read: this is not meant to be--and is no substitute for--individual, substantive legal advice.

Most companies are constantly seeking effective ways to enhance employee performance. The 360-degree performance appraisal is one tool companies can use to reach the next level of success.

Unlike the traditional performance review, which provides employees with feedback only from supervisors, a 360-degree appraisal allows employees to be rated by their managers, co-workers and subordinates.

By getting feedback from a wide variety of sources at varying levels within an organization, a more accurate picture of the employee's strengths and weaknesses emerges. As such, the employee is able to uncover any hidden achievements or blind spots in performance that need to be addressed.

This multi-source feedback also allows individuals to understand how others view their effectiveness and become more cognizant of how their effectiveness as an individual, co-worker, or employee is perceived by others. (And it's not always how one might expect!)

This new level of understanding is invaluable as employees develop professionally. Recent studies suggest that a large percentage of workers who have been through 360-degree reviews feel the feedback was more accurate and more reflective of their performance than feedback from just one supervisor.

For firms looking to take advantage of the many benefits of a 360-degree appraisal process, a phased implementation makes sense.

By first introducing the program with management, organizations will have the opportunity to evaluate the effectiveness of the process and make any minor adjustments that may be necessary before attempting to perform reviews for all supervisory staff.

Another suggestion is to treat an appraisal as a tool for growth rather than as a...