What does 360 feedback do well?
We all need people who will give us feedback, whether its manager or employee-driven. That’s how we improve.
Who is 360 feedback is for?
360 feedback is for everyone and can be driven by both managers and employees.
There are multiple benefits to using 360 feedback. In fact, the American Society for Training and Development once reviewed the feedback methods of over 750 companies to which they found 360 feedback to be one of the leading approaches for employee development and growth.
These companies usually used 360 feedback as part of their performance management processes. That means using 360 feedback will not require replacing or alternating any of your team’s current performance review practices. It’s simply a matter of appropriately integrating it into current processes.
360 feedback helps individual employees improve their performance more regularly. This is a strong supplement to existing performance review processes as this methodology collects more employee performance data throughout a longer period of time.
Formal performance reviews may be necessary, but they cannot be performed on a frequent basis. The fact that this occurs monthly or even weekly will gather employee performance data that makes performance reviews more valuable for both managers and their teams.
Improved quality of feedback
360 feedback is all about getting insights from more than one source. Because of this method of feedback is so inclusive, peers, your direct reports, managers and any other company stakeholders you may work with can give you feedback that can substantially enhance your performance at work.
No more micromanaging
360 feedback can save time for managers that feel like giving regular feedback requires micromanaging. This type of feedback can employee driven or requested by managers. Managers can implement the process and save time by establishing more than one source of feedback for the whole team.
It’s highly important to provide various perspectives on employee performance and it’s even better when it saves time. Not to mention, alerts can be sent electronically, reminding employees to take advantage of feedback regularly.
One of the best ways to boost employee morale is to recognize employee needs. And chances are career development is at the forefront of employee concerns.
360 feedback is a fantastic way to provide employees with information on what they need to do to progress their career. Since managers and employees alike can request feedback from different people and departments, the likelihood of mentorship and coaching can be highly useful for more career and personal development.
Reduced snapshot judgments
When feedback stems from more than one person and occurs more than once a year, there is a reduced risk of snapshot judgments of any single employee’s performance. Because performance reviews require managers to assess the performance of multiple team members for such a long timeframe, it becomes difficult to make an inclusive assessment across the entire year.
360 feedback is a great complementing tool to use with performance assessments that will bring in the frequency that is necessary for performance improvement and collect data to make performance reviews more efficient.
To learn more about how your team can benefit from 360 feedback, please download our free ebook here.