How effectively does your company monitor employee performance? It used to be the case that employees were evaluated during a one-on-one interview with their line manager, and it was their assessment of the employee's work that mattered. While that type of assessment can be of some value, there are betters ways to gather that information, and an increasing number of companies are now embracing 360-degree feedback surveys instead.
What are 360-degree feedback surveys?
While the traditional approach to employee monitoring focused on how the person or people directly above the employee viewed their performance, a 360-degree approach will concentrate on how they are viewed across the organisation by all those who interact with them, including clients and suppliers. The 'all-around' nature of a 360-degree approach allows you to see how the work of an individual impacts all of the stakeholders in your organization both positively and negatively.
Here are three ways that 360-degree feedback surveys can benefit your company and help your employees reach their full potential.
Obtain a well-rounded view of performance
It's often hard for any individual to accurately assess their own performance. As a part of 360-degree feedback surveys, participants are often given a self-assessment survey, which is compared to the feedback gathered on the individual from other members of your team. In this way, a manager can quickly discern whether the employees view of their performance bear any relation to how others within the company view their contribution. They can learn where they may be doing well and what areas they should focus on to enhance their performance levels.
Helps to increase confidence
Often the feedback received about an individual can be largely positive, and this will help to increase their confidence. There are frequently many positive things that can be said about someone's performance but due to the day-to-day rush to complete work these things are never said. 360-degree feedback surveys provide an opportunity for these confidence-boosting statements to come to the fore as well as revealing any blind spots which could benefit from more attention.
Enhances openness in the organization
How valued do your employees feel? Sometimes employees can become frustrated if they think that no-one is listening to them. By allowing them to participate in 360-degree feedback surveys, you demonstrate that their views do count and you build a cohesive, open workplace where every employee feels valued, and that strengthens overall company performance.