Hi Deepali,
We are getting set to formalize our review process. How do we know if 360-degree performance appraisals are right for our company?
360-degree feedback is a method and a tool that provides each employee with the opportunity to receive performance feedback from his or her supervisor and four to eight peers, reporting staff members, coworkers, and customers. Most 360-degree feedback tools are also responded to by each individual in a self-assessment.
360-degree feedback allows each individual to understand how their effectiveness as an employee, coworker, or staff member is viewed by others. The most effective 360-degree feedback processes provide feedback that is based on behaviors that other employees can see.
The feedback provides insight into the skills and behaviors desired in the organization to accomplish the mission, vision, and goals and live the values. The feedback is firmly planted in behaviors needed to exceed customer expectations.
People who are chosen as raters, usually choices shared by the organization and employee, generally interact routinely with the person receiving feedback.
The purpose of 360-degree feedback is to assist each individual in understanding their strengths and weaknesses and to contribute insights into aspects of their work needing professional development. Debates of all kinds are raging in the world of organizations about how to select the feedback tool and process, select the raters, use the feedback, review the feedback, and manage and integrate the process into a larger performance management system.