Performance reviews should never only be conducted in one direction if you want your company to strive for continuous progress and to assist its managers in becoming stronger leaders. As the name implies, 360 feedback incorporates input from many perspectives, including but not limited to peers, direct reports, teams, senior staff, and even clients. This can help to provide a broader and more objective picture of someone’s performance or the accomplishment of a specific project.
However, did you know that 360 assessment tools are a great way for assisting you in implementing significant cultural changes in your company? Here are four reasons why.
Teams that practice open communication are more cohesive
360 feedback is designed to promote honesty and acts as a constant reminder to team members at all levels that the success of the activity depends on their open opinions.
Teams that can speak openly without worrying about consequences or difficult situations become more cohesive and eventually more productive.
Make sure everyone gets heard
By including opinions from all levels of your company’s hierarchy, 360 feedback ensures that the adjustments you’re making are actually going to result in the benefits you hope for.
Consider the scenario where a manager implements a new system without first speaking with the team that will use it without identifying their needs and any potential problems. The same thing can happen when a cultural transformation is attempted without acknowledging all voices.
Employees who feel empowered tend to be more devoted
Approximately 70% of the employees questioned in a recent survey claimed they would work more if they were more valued. There will be a rise in job quality and increased commitment where employees feel appreciated, empowered, and engaged.
To empower employees and get their buy-in to the company’s culture and mission, start by asking for 360-degree feedback. As an added bonus, 360 feedback helps to lower the costs associated with staff turnover while increasing productivity and loyalty.
It is necessary to take action in order to witness continuous improvement.
360 feedback is great, though there is a caveat. 360 feedback must be combined with action in order to accomplish all of the aforementioned goals and experience the continual growth you desire.
Make sure you establish a clear plan for evaluating and acting on the results of your 360-degree feedback process and that you share your rationale and method with the entire team.
Do you need a flexible and robust 360-degree feedback system for your company? Get in touch with Ambivista!