Off late there has been a huge debate on the topic whether 360-degree feedback should be utilized by companies of all sizes or not. Well, 360-degree feedback forms an invaluable tool which if being used effectively can help in the development purpose of the individual as well as for the organization. Often, 360 feedback programs are integrated with the performance system. This is because appraisal and development systems are closely aligned with each other. After all, 360-degree feedback can help to come up with best performance feedback. This in turn can help the organization to judge their employees and provide them with right appraisals.
Fundamentals of 360-degree Feedback
360-degree feedback can be described as a multi-rater tool or development tool. Through this tool honest data or feedback about an employee is obtained from various sources. The feedback is basically obtained from the supervisors, managers, peers, subordinates, and clients.
However, in order to get the best results from this tool, the feedback should be kept anonymous. In order to ensure others rate their co-staff properly, they must be assured that their honest feedback would be kept confidential.
Need of It
From Silicon Valley to offices all across the world, are considering to replace the age-old traditional performance review and development tools with a new kind of evaluation and review tool i.e. a 360 feedback.
One of the top agendas of firms is to rethink about the performance management and evaluation. Often, the traditional review process was vey biased. Moreover, it could not potentially pinpoint the flaws of the employees. This, in turn, affected the overall growth of the organization.
Hence, in order to improve the efficiency of the employees and improve their ability, the 360-degree feedback tool is very fruitful. The feedback that is obtained through the tool not only acts as a motivator but has a lot of thing to do. Not only can it help to improve the performance of the employee but it can also uncover the blindspots and the strengths. When an employee can perform better, it can automatically take any organization to a new level.
Still, studies have shown that many organizations hesitate to integrate 360 feedback within their system. However, the benefits they will easily understand the need of this tool in modern days.
Increases Self Awareness
It is one of the most important benefits of this tool. The feedback can help the employees to understand the areas where they need improvement. Also, on learning how others apprehend them they can take necessary steps to change that. If peers consider a person to be rude then they can change their behavior accordingly.
Channel of Communication
With employees being able to give a direct feedback about their superiors, it helps to develop a culture where the values of every employee would be respected.
As this tool is often used as a developmental tool, it can help to assess if any employee needs to develop any new skills. Skill development can help in the career development.
360 feedback can identify the key strength of employee. Acknowledging the strengths can help a person to improve and perform even better.
This development and appraisal tool can motivate employees and help organization to succeed.