The productivity of an organization directly depends on the performance of the employees. Therefore, it is very important for an organization to have an efficient management system that can easily retain the good employees. it is important for an organization, be it a small or a large-scale one, to invest in the most suitable tool for evaluating the performance of the employee’s. One such tool which is worth mention is the 360 feedback tool.
What Is 360 Feedback Tool?
360 feedback which is often touted as 360-degree performance appraisal or 360-degree feedback process is a tool that can help in assessing the performance and behavior of a person. It includes a detailed feedback from the managers, peers, customers, and sometimes even from clients. It incorporates a feedback from the subordinates and supervisors. It also helps an employee to get a self-evaluation report.
Purpose of the Tool
From banking to the hospitality sector, or IT sector are using 360-degree appraisal tool. The tool can be effectively used by various sectors in order to determine the performance of the employees.
The feedback survey offers a scope to others to provide an accurate feedback which can be helpful for an organization in a constructive manner.
Usually, a staff’s work during a specific time frame, often a year, is thoroughly gauged by others. The main aim of using this tool within an organization is to understand how the particular employee is performing within a team or individually. When used correctly, it can provide numerous benefits, for the organization, as well as for the individuals.
How 360 Degree is Different from Traditional Performance Review?
360 feedback involves feedback from various sources and not only from managers. Thereby, provides a well-rounded viewpoint about an employee.
360 feedback can help in providing reviews about a person and evaluating them on the basis of their goals. Being forward looking, it can easily assess the strengths and weaknesses of employees.
Ways in Which the Tool Helps Assessing Individuals
Getting an honest feedback is very important in order to recognize the strengths, for testing one’s own perceptions and becoming fully aware of the weak points. When employees get involved in the 360 degree feedback feels valued. The honest opinion from others about their behavior can help them to change it as it may deem necessary.
An employee receiving feedback can become self-aware of their strengths and also the areas in which they need to improve. It also includes a review of their behavior.
The tool allows people to discover the loopholes in the behavior; they exhibit in front of others. Working on their behavior can be helpful for continuous employee improvement.
It helps in identifying the strengths of an employee. Determining the strengths can aid in personal improvement. It can also help an organization to provide a training program to develop their skills.
The 360 feedback tool allows individuals to develop new skills and change their behavior. It includes working on the strengths through customized development plans. It can help in increasing engagement of employees during the feedback process.