Without feedback, you can be sure that your performance management efforts will fall by the wayside. Giving and receiving feedback is vital for ensuring that performance stays at a healthy level. For many years, giving feedback has been a responsibility that has fallen on the shoulders of company leaders and managers.
Yet, this is no longer the case. The 360 feedback method is a process that allows your employees to be given confidential and anonymous candid feedback by a number of their workplace peers. Typically, these 360 feedback surveys are carried out online and ask a group of up to twelve people for their opinions of an employee.
Peers are asked to complete a list of questions and evaluate their co-worker on a number of behaviours and competencies. The individual who receives the feedback must also complete a self-rating survey to see where their opinions stand up against their peers’ opinions.
But why is it important for you to use it? The answer is because of the gained insights your employees receive. Receiving feedback from multiple sources is much more beneficial than just a single person. 360-degree feedback helps your employees to better understand their strengths, weaknesses and effectiveness as an employee.
These insights undoubtedly help your employees to better assess the skills and behaviour they need to develop. This leads to better communication levels, increased team engagement and improved performance.
Managers and company leaders can leverage insights gained from 360 feedback to better inform their decision-making process.
Well-rounded feedback provided by a 360-degree model puts leaders in a position to assess how they can improve the workplace environment to better support their employees’ performance. For example, if a number of your employees need help with improving a certain skill it may be worth investing in training opportunities. Or, ensuring that there is a transparent and honest company culture.
Managers receive many benefits from 360 feedback insights. Using this information, you can help employees to gain better value from a performance review session. You can collaborate with employees to ensure that they take this feedback on board and use it to inform their personal development plans.
Adopting a multi-rater feedback model can be extremely beneficial for performance management purposes. When incorporated successfully in your organization, your employees will be able to better assess how to leverage their strengths and improve their weaknesses. It also gives company leaders the opportunity to assess how they can improve business operations to improve the employee experience.
As a newer method of feedback, it can certainly be an insightful development tool for many companies to leverage. Sprigg’s online performance management tools provide companies with an easy-to-use and simplified multi-rater feedback survey. With built-in competencies and feedback phrases, providing feedback on peers has never been easier.
Interested in learning more about how 360 feedback can improve your performance management processes? Get in contact with us today. Or better yet, request a free demo.