What is 360-degree feedback?
360-degree feedback is a procedure where employees receive feedback regarding their performances from their supervisors, reporting managers, and customers. The feedback received by the employees covers almost every critical job aspect and gives an all-encompassing view. So, the 360 feedback tool provides the opportunity to the employees to understand proficiency and skills. The evaluations are done by the employees who interact with the person receiving the feedback.
Are peer reviews powerful?
A manager has fundamental rights to the functioning of the employees along with the key strengths. In no doubt, a peer’s perspective is different and crucial. Peer reviews are essential because colleagues have a unique idea and sight of coworkers working style, time, and resource management. With a 360 degree feedback tool, an organization gets hold of the Data, which may not be readily visible to a manager. A rounder perspective can be easily obtained by combining peer reviews with managerial reviews. Hence, peer comradery plays a vital role in making players invest more in what they do and what they desire to become.
How to form a 360-degree feedback system?
An organization opts for several methods to seek 360-degree feedback around its employees.
- In the majority of the cases, the manager collects feedback, analyses them, and sends back constructive feedback to the employees. The manager’s main aim is not to overwhelm the employee with excessive data.
- Some companies provide 360-degree feedback tools that allow the employees to evaluate various areas under assessment; since the entire process is Internet-based, it comes with several advantages like instant data collection and quick analysis.
- The companies also hire external consultants to manage the online survey process, collect feedback, analyze the feedback and discuss the outcomes with the manager and the employees. The manager makes a joint plan to work on the improvements.
Benefits of 360-degree feedback
While evaluating the colleagues, employees get an increased awareness and in-depth use of how they perceive others’ workplace performance. The 360 feedback helps to increase their self-awareness; once an employee receives a clear idea, it helps him develop what’s amiss and improve what’s already good.
Providing a balanced view
360 feedback provides a balanced view of the performance of an employee. With such results, an organization can uncover blind spots which are difficult to find using traditional performance review systems. So 360-degree feedback helps in the round professional development of the employee.
Boosting employee engagement
When employees receive recognition for their work, their moral credibility gets boosted. So a 360-degree feedback tool helps an employee receive positive and negative criticism.
360-degree feedback tool helps an organization establish all the required training programs to improve the skills and performance of the employee.
Reducing employee turnover
360 feedback improves employees’ engagement, satisfaction, and happiness, thereby reducing their turnover. When the employees are happy and satisfied with their performance, their productivity boosts.
Therefore, a 360-degree feedback tool is not a roundtable conference where people are bombarded with criticisms. So employees must look up to it as an opportunity to identify how they can better their productivity. Inevitably, growth is not synonymous with correcting mistakes. Instead, it’s about improving oneself and discovering new ways to leverage it.