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Why Companies Need To Adopt 360 Feedback For Employees

As a professional in the corporate sphere, have you ever wondered what your co-workers or superiors think about your performance? Have you ever picked their brain to find out whether they could help you improve and be your best?

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Feedback is a valuable tool for skill development. Remember, as an employee, there is nothing more important than meeting a company’s goals and vision. A wise man once said that knowledge is power. Listening to constructive criticism could be the difference between a successful corporate career and one that flops.

For companies to ensure that they have the best team on board, they rely on a metric system that allows for the rating and ranking of all their employees. Over the years, professional review systems have been great allies for company management and team engagement. 

But long gone are the days when employers relied on old and outdated performance review charts. New technological advancements have brought with them an even better way to keep tabs on all workers.

Enter the 360-degree Feedback System!

What Is The 360 Feedback System?

This is a modern, performance appraisal method that helps in determining employee performance in their workplace.

 Commonly referred to as the 360 Feedback Tool, this feedback system showcases the work environment as well as employee behavior in the environment, their performance, and set of skills.  

The 360 Feedback Tool also determines whether a company is capable of meeting its employees at their point of needs.

 Usually, the opinions that are included in the feedback system are those of an individual’s co-workers, subordinates as well as superiors. However, these opinions are kept anonymous to prevent biases or bad blood in the workplace.

Why Companies Need To Adopt 360 Feedback for Employees

 

  • Develops accountability

 

This feedback system makes it easy for employees to identify their strengths and weaknesses. With a multifaceted perception of their skills, behaviors, performance, and areas that require improvement, employees can understand how they are perceived in their surroundings and how this perception impacts their performance at work. This will give them the opportunity to course-correct themselves and be accountable for their actions

 

  • Promotes inclusivity

 

Granted, we cannot please every Tom, Dick, and Harry. Therefore, no matter how outstanding you are, there is always a single person in the room who may not appreciate your competencies.

 Now, if this person had to review your performance at work, then they would rate you poorly. But this is the beauty of the 360 feedback system. It is not based on one person’s perception.

 Instead, it is all about the inclusive opinions of all staff members.  By getting balanced views from numerous sources, then the employees do not feel like they have been singled out.

 

  • Offers insight on training needs

 

By revealing the best attributes of the employees and shining a light on areas that need improvement, the 360 Feedback system becomes a training tool of sorts. 

This is because the findings can always be used to offer encouragement in the areas that seem challenging for the employees. 

For instance, if an employee does not prefer to work in a team, the company can capitalize on this and offer training on the importance of being a team player or sharing responsibilities.

 

  • Enhances performance

 

Arguably, this is one of the most important benefits that come with using the 360 Feedback Tool. 

When a company has this tool in its arsenal then it will find it easy to point out problem areas and advise its employees on how they can improve their performance in these areas. 

If this system is used in the right way, then the 360 Feedback can increase employee engagement, thus, improving their overall performance.

Why 360 Feedback Will Change Your Company

As a leader, wouldn’t it be nice to test your own perceptions? Wouldn’t it be refreshing to find out that you are not wrong about your employees and their abilities? 

Well, 360 Feedback will give you the answers that you are looking for. It will showcase your company’s strengths, blind spots as well as its needs, giving you the opportunity to steer your ship in the right direction.

It is important to note that performance feedback will revive your company’s positive working spirit. This is because it provides you with the most reliable methods for promoting growth and development. 

It makes it easy to think profoundly before you make decisions. It also allows you to learn from mistakes, bring employees together, and apply effective change management strategies that will see your company through each and every situation.

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