In multirater or 360 degree form of feedback, the peers, managers, consultants, customers, direct reports are all involved in the feedback process. It essentially provides an overall statistics and analysis of the perfomance of an employee in the organization.
Every form of organizations are slowly moving away from the traditional one-to-one feedback of the multi-rater approach because they pose various benefits.
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The Top 7 Fantastic Benefits Of The 360 Degree Feedback
The 360 degree form of feedback forms an essential form of employment development tool that effectively helps in building of a very engaged, productive and skilled workforce. They are known to be very effective and are hence being implemented by a vast number of organizations.
Here is a list of a few fantastic benefits of 360 Degree feedback:
Increases Self-Awareness
The 360 feedback actively aids in increasing self-awareness of any employee and also helps in identifying their strengths and weaknesses. It helps the employees in knowing their hidden weaknesses and strengths, which otherwise the said individual would generally be unaware of. This review process also helps them in gaining a better understanding of their behaviour and also how they view their work.
Reduces Workplace Bias
In this form of feedback process, the feedback collected is not only limited to that from a manager but also from direct reports, customers, peers and even subordinates. As a result of this, the feedback received in the review process is totally unbiased as it is not based on a particular individual or a single person assessment. It aids in decreasing managerial biases that are often prevalent in the traditional form of feedback system.
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Effectively Improves Work-Relationships
In a traditional form of one-to-one feedback, the employee who receives a feedback from their superior generally has nothing to say other than that it is one-sided. There is no presence of personal connection when it comes to this type of feedback process.
But, in the 360 form of feedback, both the subordinates and superiors review one another, which in turn improves the subordinate-superior relationship. Everyone’s morale also gets boosted, and the managers and employees get to work together to achieve their common goals.
Promotes Team Building
In a 360 degree form of feedback process, the peers review each other very often. They understand each other’s strengths and weaknesses very well, and this in turn, helps them to work as a cohesive and strong team. They work collectively to improve the productivity of their organization. An effective form of team is where the employees know each other’s weaknesses and strengths effectively in order to get the best results.
Enhances Perfomance
The most crucial benefit of a 360 degree form of feedback is the enhanced perfomance of employees. It effectively aids the perfomance of the employees. It also helps in improving their relationships, and provides a clear form of clarity on the ways of improving the overall perfomance. This, in turn, also improves the employee retention and engagement in an organization.
Creates Open Culture
This form of feedback aids in promoting a sense of open culture in the organization where it is implemented. Every employee will feel that they are valued as they take part in the reviewing of their managers and peers. The process of feedback also becomes a medium to share their opinions without having a fear of getting a backlash or getting repressed.
Emphasizes Development of Skills
The professional development is significant for every employee as they move ahead in their career. The 360 feedback process would act as an excellent source for identification of the employees and their needs for training of skill development. As all of the employees are self aware, they are going to take up responsibility by themselves to polish their skills and then build new ones.
This would help them in the growth of both the organization and their employees.
To Wrap It Up!
Thank you for reading up till here. I hope you found the information useful. Let me know in the comments your thoughts on the same.
