Since the performance of an employee rarely occurs in isolation, thus most of the companies use 360-Degree Feedback for Performance Appraisal. It is an ideal way to receive confidential feedback from all the stakeholders and measure the social perception of daily work of an employee. The reviewer’s basically include your manager, customers, peers and direct reports.
What Exactly Is 360-Degree Feedback?
About 12 to 24 people fill out an anonymous feedback form that encompasses a broad range of questions related to employee’s workplace behaviors or competencies. The person receiving feedback also requires filling a self-rating survey that includes the same questions that others receive in their forms. In this way, both the stakeholders and the employee himself, rates his contribution to the organization.
Benefits of Feedback in Fast Tracking Your Career
There are a number of ways in which this feedback can be fruitful for your career. Some of them are listed below:
1. Obtain Holistic View of Performance
The goal of the 360-degree feedback is to offer a chance for self-development to the evaluated person. When the feedback from all the named sources is presented to you within a framework, it provides you a golden opportunity to practice key behaviors (expected from you) and direct towards improvement.
2. Drives Transparency
The traditional performance management systems were not transparent and robust enough to determine the performance criterion. But through 360-degree valuation, you will be to understand the measurement criterion used for evaluating your performance, thereby facilitating transparency.
3. Strengthens the Feeling of Responsibility
The proposed feedback instills a feeling of responsibility within the appraisee and the appraising person. The high degree of involvement in it is the first step in dumping the bossy attitude, and on top of it the listening and collaborative facets of the feedback help in fostering transparency.
4. Motivate To Take Challenges Head-On
The usage of 360 degree will enable you to confront the negative feedback and various other issues with your employer. Also, it gives you courage and motivation to deal with critical and developmental feedback. As 360-degree feedback involves the performance evaluation from the customers as well, therefore it connects you to the customer’s thoughts and expectations. In this way, you can improve your lacking areas and also enhance customer value proposition.
5. Draw Your Development Plan
Through the proposed feedback you will finally face and realize your strengths and weaknesses. Identifying such parameters will guide you I establishing a plan for making changes in behavior as well as move towards better performance.
Thus, 360-degree feedback does not allow the managers and employee to cover the developmental areas under the carpet; rather it helps the employee to work on his weaknesses and take corrective action fast. Since the feedback provides adequate chance for questioning the appraising person (manager, employer or other stakeholder), therefore it has achieved immense success and appreciation for performance appraisal and employee development.
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