Performance reviews are essential to employee development, but many companies are finding that traditional evaluations aren’t the most effective route. This long-established practice is highly subjective, as the manager is the only person able to comment on the work of the employee. Consequently, this can result in an unfair bias that ultimately doesn’t help anyone.
In the 360 feedback process, employees are evaluated by their subordinates, peers, manager and are even asked to complete a self-assessment. Sometimes external parties, such as clients, are also asked to participate. Results help the employee identify specific areas for improvement and can assist the organization in a number of ways, including decisions related to pay increases and promotions.
4 Benefits of 360 Feedback
Thinking about incorporating 360 feedback into your company? Learn four advantages this approach can bring to both your employees and the organization as a whole:
- Gain Well-Rounded Perspective: Receiving feedback from a number of sources ensures the points made are substantiated. Sometimes it’s difficult to take both criticism and praise to heart when it’s really just one person’s opinion. It’s much easier to believe what people are saying when it’s coming from a group.
- Increased Job Satisfaction: Employees find it empowering to be given the chance to review their manager. Most people would never dream of giving their supervisor unsolicited feedback on their strengths and weaknesses, as this would likely result in negative consequences. However, when companies ask them to share their thoughts and opinions, they feel like a valued member of the team.
- Leverage Strengths: Many people don’t realize their own strengths. When others have the opportunity to highlight these positive attributes, new doors can be opened. This is helpful to both the employee’s career development and the overall success of the organization.
- Identify Areas for Improvement: Similarly, employees are often unaware of their own weaknesses, so this is an effective way to bring attention to areas where improvement is needed. This allows them to focus on learning new skills and growing, so they can become a competitive force.
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