All employees in an organization require evaluation to understand their performance levels: their strengths and weaknesses. Performance reviews give them the opportunity to know what improvements they can make.
360-degree reviews gather feedback from people working with and around an individual – managers, supervisors, peers, and direct reports. Businesses can use the feedback to build a more productive workforce by transforming employee behavior.
In this blog, we present the potential benefits of 360-degree feedback in performance management.
Brings Employees Together
360-degree feedback is one of the key features of agile performance management. This method provides feedback from all angles – including peers, direct reports, and managers. As the reviews come from multiple sources it will contain various opinions and perspectives, which is most important when looking for feedback.
360-degree feedback enhances communication by giving each employee an opportunity to provide their feedback. By providing feedback, employees begin to understand each other better, leading to improved collaboration. Teamwork is improved as employees’ goals and processes are aligned. It allows each member of the team to understand the level and quality of contribution they make to the team. Employees can work on any issues being suggested by the review to become more effective members of the team.
Boosts Self-Awareness and Development
The reviews provided by the 360-degree evaluation highlight areas in which employees can improve as well as their existing strengths. Employees become more aware of themselves and their role in the company. Recognition of strengths allows businesses to create a unique development plan for each individual.
Since the feedback is gathered from various sources at multiple levels, it provides a more accurate idea of the behavior, performance, and capabilities of each individual. This type of evaluation gives each employee an idea of the skills they need to work on or may lack.
Fosters Continuous Improvements
The most important benefit of 360-degree reviews is that an atmosphere of learning and improvement can be created. The workforce will be inspired when they see leaders actively participating in the feedback and implementing the required changes. The evaluation process allows the feedback to be honest. Moreover, a more comprehensive report is generated since employees from different roles will be providing the feedback.
When implemented effectively, 360-degree reviews, with the help of a sophisticated performance management system, can have a significant impact on employee engagement and professional development.