360 Degree Feedback: Why Is It Essential in Every Company?

In today’s digital age, businesses are making their way towards modern analytics and instant feedback system. They are getting rid of the traditional assessment tools in order to evaluate or review the employees. This is because the traditional evaluation tools used to contain a lot of errors and flaws. Also, the traditional tools were not successful in correctly assessing the organization growth.

Hence, in order to correctly evaluate the employees and their contribution towards organizational excellence a new type of tool was needed. This is where a tool like 360 degree feedback comes into play. This tool is considered to be an all encompassing tool that can help an organization and individual in many ways.

Understanding 360 Feedback

360 feedback is a multirater assessment, and review tool that can provide a complete honest feedback about an employee’s performance and behavior. Unlike the traditional tool where only seniors were involved in assessing others, with 360 feedback it is not so. The 360 feedback tool is used by every people who work in an organization. So it would include supervisors, managers, HR, peers, colleagues, as well as clients.  All these people will assess an employee and give them a feedback and rating based on their performance and behavior.

The feedback that is obtained can help an employee to get a complete insight about it , like an employee can get to know about their strengths and weaknesses. Based on the result or feedback provided by 360 degree feedback, organizations can decide whether any employee needs to go through any skill development training or any other form of training. In order to know how this tool is benefitting businesses, you need to go through the rest of the blog.

360 degree feedback

Helping to Build Better Relationship

Through the help of this tool, better relationship can be built between leaders and employees. Previously, employees feared to provide any feedback about their superiors. But with 360 degree feedback they don’t have to fear about anything. This is because the feedback remains anonymous. They can easily tell if any qualities they don’t like about their leader. Leaders can accordingly change that. Thus, the channel of communication gets improved between them.

Team Development360 performance review

One of the important reasons why 360 feedback is essential for businesses is because it can aid in team development. By identifying the weak player and providing him the necessary support. It can help to improve the performance of the person as well as the team.

Helps to Increase Accountability

The tool can help in increasing employee accountability. Studies have shown that when employees get a good feedback it increase their desire to take initiative and come up with solutions that improves their performance.

Large Scope of Personal Development

It can help organizations to provide employees with a scope of development. On receiving 360 degree feedback from various sources it can help an individual to get an idea on the areas they need to work on and improve.

The above factors can clearly show why a business needs to integrate 360 feedback within their system. From organizational growth to personal growth, it can be very helpful.