In order to survive in this competitive world, it is important for the organizations to come up with effective strategies. With an effective strategy in place, it can help organization to become successful. However, they need to take the help of their employees. Employees of an organization can give better work output when they get a good review of their work from their superiors as well as from their subordinates. Added to that, appraisals can easily motivate them to work more for the betterment of their organization.
For Performance Appraisal – 360 Degree Feedback Is a Great Tool
360 degree process is one of the strategies that organizations are taking in order to give a feedback to the employees from multiple sources like managers, peers, subordinates, clients, and so on. The feedback usually assesses the behavior of the individual and how it impacts others. Based on the results, HR and managers can come to a uniformed decision regarding their appraisals.
Assessing Individual’s Strength and Weakness
360 degree feedback or multi-source feedback is a performance assessment tool that includes feedback from various sources. It can easily assess the employee’s performance. For example, it can easily check if the employee has been beneficial for the business organization. Whether a person is productive in his work or not?
Unlike the traditional review process by the managers, with 360 feedback one can get a better all-rounded view of their strengths, weaknesses, and how well they are able to cope up within a team. As peers have a unique opportunity in observing the employee performance, they can easily provide a great insight about a person’s collaborative skills. The result can help individuals to work on their weak areas so that they can also contribute for the betterment of their organization.
Implementing 360 Degree Feedback
Organizations often try to focus on employee development. For this, they take the help of 360 degree feedback tool. Depending on the feedback from various sources, it allows the potential employee’s to get their performance assessed by others. In turn, they design their career path.
How To Take Advantage Of This Multi-feedback Tool?
• Self Awareness: Feedback can help to create a self awareness. Reviewing helps people to comprehend the way others look at him. Therefore, it can help each team member to evaluate and improve their performance.
• Recognition: 360 degree feedback is not only about providing review about others. It can help in introducing a culture where people are recognized for their work and collaborative effort.
• Introducing Accountability for Improving Performance: Individuals on receiving feedback about their performance from peers, subordinates, clients, etc can easily work on their development needs. Acknowledging the work can motivate the individuals to work better. Making them accountable for their work can imbibe a sense of more responsibility.
• Core Competencies: 360 degree feedback can provide growth opportunities to the employees. The skills needed to be improved by them can be identified and worked on. For example, based on the result, they can improvise their existing skills or gain new skills.
Knowing the latest skills can help the employees to work in a better way. Also, the management can decide on necessary training programs that can help the individuals to work much better and get good review later on.