360 degree feedback, is a multi-rater assessment providing employee feedback from - supervisors, peers, direct reports/subordinates and external raters (clients or vendors), along with self. A 360 assessment is often used as a benchmark within the employee's development plan. It's a smarter way for companies to get a relatively complete and accurate picture on employees. Such feedback is a crucial part of an organisation's overall performance management process. It helps to create an informed action plan that focuses on areas that are most in need of improvement or change.
360 degree review offers various benefits like -
Complete Overview - Since 360 feedback is a full circle feedback allowing you to collect feedback from so many different sources, you have a broader, more comprehensive and potentially more valid analysis.
Greater Self Awareness - It’s great to know yourself better along with how others perceive you. A 360 degree feedback gives employees an insight on both these fronts.
Better Performance - As employees will identify the hidden strengths, blind spots, and behavior that they need to work on, they’ll be able to perform better, they will be more productive and happier.
Training Needs Analysis (TNA) - 360 Degree Feedback Survey helps identify the exact areas where the most crucial gap exists between desired employee performance/behavior and actual employee performance/behavior thereby enabling an organization to carry out relevant training needs assessment and determine what training programs are to be initiated.
A 360-degree appraisal is often followed by interventions like Coaching/Counselling Sessions, Feedback Evaluation etc. These programs help individuals:
- Respond to the feedback in a positive and meaningful manner
- Realize their true potential
- Implement the right action plan
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