Running a business is not easy, however, like a well-oiled machine, everything has to be in sync, or else you will get a Domino effect. If one sector is not working well, the business will fall apart.
It’s with this reason that employers and organizations of all sizes must prepare a review. No matter if it’s an annual or semi-annual review, a review helps put things in perspective. You can call this review a way to gauge your oil levels, and test if your machine operation is optimal.
One question you should always ask yourself is if you are satisfied with the current performance of your employees? If the answer is not satisfactory, then you may need to consider putting some measures in place to change that.
A way you can help to boost your employees’ performance is by giving them feedback. An example of performance feedback you can use is the 360 feedback, and it comes with a lot of benefits.
7 Benefits of 360 Feedback
1. How vs. What
The 360-degree system helps you to measure how things and operations are run rather than what is running. In simple terms, it gives you an insight into the process, from the onset to the end, and not just the outcome of that process.
You may wonder why this is important and what it has to do with performance. In essence, it has everything to do with it. Every action in business comes with risks.
Focusing on the process will help your employees feel confident that they can achieve a successful result, even with a high fail percentage.
2. More Talk
Another benefit this tool provides is that it promotes communication. Ideally, the process of administering the 360 begins with a survey and dialogue. While there are different questions and dialogue techniques, the feedback allows your employees to see their weaknesses and strengths.
So, they can move from the measurement stage to the improvement stage.
3. Fosters Relationship in the Workplace
Most performance feedback tools are sometimes one-sided. With the supervisor being the one doing all the talking and reporting, there is really no relationship. Some employees even believe it’s not in their place to say anything about their supervisors.
360-degree feedback helps to change this.
4. Increases Accountability
The fact that this system will check everyone, and everything is the reason accountability will increase. The 360-degree system makes your employees responsible for their actions and gives them a sense of accountability.
5. Enhances Performance
The number one thing you are after is increasing performance in your business. The feedback tool will increase accountability, foster relationships, build personal development, and above all, provide clarity.
While it’s not a magic wand that you can use to wish all your problems away, it will definitely make things better.
If done the right way, the 360-degree assessment has many benefits to the workplace. Honest and reliable feedback helps you and your employees to see the weaknesses, strengths, blind-spots, and, problems in your organization. And with this, you can always find a solution.