10 Benefits of 360-Degree Feedback

Feedback is important for employee management. This is because it helps them improve. Managers give feedback to their employees from time to time. But their simple feedback is not enough for assessment purposes. In recent years, the use of 360-degree feedback has increased within the firms. It involves feedback from managers, colleagues, juniors and other people that are a part of an organisation. They give feedback about their work, and behaviours as well. The employees also assess themselves through this feedback system.

Leaders and managers of different businesses also receive this feedback. A study shows that roughly 85% of fortune 500 companies use this feedback tool (Zenger, 2016). This attraction is due to the many benefits that the system provides. Feedback is a gift that helps with improvement. Firms need to encourage a culture of both giving and receiving feedback. The 360-degree feedback system is more effective than the traditional system. Some of its benefits are shared below;

Knowing Thy Self:

It makes employees more aware of themselves. It helps them in finding their strengths as well as weaknesses. Most people are generally unaware of their potential. Ensuring feedback can give them the required awareness within this context. Their performance also starts improving. They become more familiar with their behaviours in general. Their personalities start changing when they receive feedback. Self-aware employees can improve their strengths and overcome the weaknesses that hinder their performance.

Gaining Feedback From Different Sources:

Employees receive feedback from different sources. They receive suggestions from different employees as well. This helps them improve their performance and behaviours. They will be able to bridge the gap between their performance and the expectations through such feedback. For example, if an employee’s colleague suggests being social, he can increase collaboration with his colleagues. Employees can improve their performance by taking the feedback in a positive way.

Skills Development:

Everyone wants to develop their respective careers. And learning new skills is important for development. Feedback helps identify the need for training. Feedback also suggests the area in which an employee lacks. Employees can enhance these skills to improve themselves. These skills can also increase their competency. Then they become eligible for promotion. Learning new skills is beneficial for the employees and firms both. A study shows that this system helps in increasing the organisational performance and practices (Kopsidas, 2021). Firms score well in talent management. Their employees do not leave them if they think that the organisation is supportive. Feedback is not only for evaluating, but also for the development of employees.

No Biasness:

Feedback decreases biasness at the office. It is received from many people, and this decreases its biasness. It’s not only a manager’s right to score the employees’ performances. Managers can’t give benefits to their favourites as this system helps overcome office politics. People receive benefits according to feedback that is fair. No one can object to the assessment process. This system helps improve the office environment by decreasing workplace politics.

Focusing On The Process:

This system focuses on the processes, and not on the results. In a traditional system, results are the main area of focus. But it should be noted that process is more important than the results. An effective process serves in the long run. An employee that receives success through unfair means is not acceptable within the organisation. This feedback allows employees to see their complete performance.

Building Effective Relationships:

This system improves the relationships between people. They communicate to give feedback to one another and take feedback as a source of development. They talk with one another and ask for suggestions. Their relationships ensure good environment at the firms. This communication is not limited between the employees, as they can also communicate with the managers. Managers can also ask them for suggestions to improve their personalities. Employees feel confident in this way. They share their problems with the managers so that they can resolve their issues. This relationship improves a firms’ performance.

Ensuring A Culture Of Openness:

According to a dissertation writing service, 360-degree feedback encourages a culture of open sharing. Employees feel that their suggestions are important for firms. They share their opinions with peers and managers without any fear. This open culture improves the environment of firms. It increases the productivity of a firm’s employees as well. They share and receive suggestions without taking them as criticism. They also take part in the improvement of one another. Rumors can’t spread in this kind of environment. Firms need to use this system to create a healthy workplace environment that is beneficial for all their employees.

Improving Performance:

This system helps in improving the employees’ performances. Employees’ attitudes and behaviour starts improving as well when such feedback is provided. They are able to identify their weak areas by giving themselves valuable feedback. They work hard to overcome their weaknesses too. This engagement keeps them in the firms for a longer period of time. Their motivation increases due to the value given to their opinions. Feedback helps them learn, and build their professional careers as well.

Encouraging Teamwork:

Teamwork is important for a firm’s success. This system helps build a strong team. Peers get to know each other’s strengths and weaknesses. They can relate these strengths to achieve the team goals. Working in a team helps cover the weaknesses of people. Teamwork increases efficiency of the firms too. Team members share feedback to improve each other. Their sharing gives strength to the team for achieving future goals.

Customer Engagement:

In a 360-degree feedback system, customers also share their opinion. Every firm wants to please its customers. The relationships between a firm’s customers and employees are very important for the firms’ success. Their feedback helps firms provide satisfactory services to them. It also helps in understanding their behaviours. Happy customers attract new ones for the firm. Besides, customers can give a more neutral feedback than the others. Firms can improve their services and gain the trust of customers in this way.

Conclusion:

360-degree feedback is the most popular assessment tool in the world. It takes feedback from managers, peers, customers, and other people involved within a firm’s operations. People also assess themselves through this system. It has gained popularity due to its large number of benefits. It makes people self-aware about their strengths and weaknesses. Feedback from different people helps find characteristics that make a balanced personality. It allows people in observing their potential areas, and developing them.

Managers are not the only people who assess the employees. Because of this, the assessment process remains neutral. Gossipers don’t spread rumours about biased behaviours of the managers. This system helps people improve their relations as well. Their open communication improves the relationships that they have with one another. They can share their problems with the managers too. This communication overcomes office politics as well. Engaging the customers and working as a team is also an achievement of this system. Firms adopt this system to gain a large number of benefits. These help them progress towards success.