1. Increases Employee Self-awareness
“When I discover who I am, I will be free” – Ralph Ellison
Most people think they know how others perceive them – ‘They think I’m cool’, ‘They think I’m stupid’, ‘They think I’m doing a good job’, ‘They think I’m a bad leader’. But most of the time these thoughts are ours and ours alone (see below video for proof).
Seeing yourself through someone else’s eyes can help you identify where your strengths are and where there is room for improvement. 360° assessments allow employees to evaluate how they think they’re doing and compare it with the perceptions of their managers, peers, customers and subordinates. This creates a full portrait of performance that can be used as a basis for future development.
One-way performance feedback reviews are often inadequate at painting a complete picture as they only incorporate the perception of one manager. The opinion of one manager might differ greatly from how an employee is viewed by customers, colleagues or even other managers in the company.
2. Cements a Company Culture
Whether you’re a new start-up looking to build a company culture or an established corporation trying to recement your work ethos, 360° feedback can make sure everyone is on the same page when it comes to the voice of your organisation.
The modern workplace requires the cultivation of a culture which promotes positive work behaviours, attitudes and ethics.
A healthy company culture can encourage real business growth, it can allow employees’ voices to be heard -helping them speak up and offer solutions in a collaborative, focused environment.
But establishing culture, values and ethos is more than simply putting a paragraph up on the company website – everyone needs to be on board.
Implementing tailored 360° assessments clarifies and consolidates what the company’s values are, leading to a more honest, more goal-oriented workspace.
3. Elucidates Team Dynamics
As a manager it is important to identify how your team can be optimised to perform to the best of their ability. But it isn’t always easy to uncover your team’s strengths and weaknesses and where the team could use some development.
Multi-source feedback assessments have the benefit of 360° vision, allowing every member of a team the chance to express their views, opinions and constructive criticisms.
All this feedback is then collated into a manageable and research-backed report. Managers can use these reports to determine a lot about their team: whether they have the same goals, whether they are happy with their role, whether there are opportunities for improvement. All these discrepancies can be resolved when team members look at the assessment reports, identify where the problems lie, and find common ground in order to agree a shared plan of action.
4. Identifies Leadership and Management Skills
Prioritising the development of leadership within an organisation seems like a no-brainer – leaders need to plan, develop and execute a number of business decisions every day, all the while managing and delegating to a subordinate team.
Why, then, are those in leadership positions ignored the most when it comes to performance assessment?
In fact, the higher up the chain you go, the less reviews you receive. Surely more responsibility should mean more feedback.
Unfortunately, there is a stigma in the workplace that leaders will be offended if they receive feedback from their direct reports. This has created a fear of upward assessment, no one wants to criticise their boss. But this could conceal invaluable information which could be used to improve leadership performance, efficiency and productivity.
360° Feedback Tools not only try to combat these fears and stigmas, they also work to identify what type of leader someone is, and how their team responds to that leadership style.
5. Improves Performance
Perhaps the most important and substantial benefit 360° tools bring to your company is the improvement in performance.
Improved self-awareness, teamwork, development, leadership and accountability all tie-in to produce a better overall performance.
360s, if they are done well, can boost performance at every level – individual, team and company-wide development is targeted to clarify work behaviours, improve relationships and promote employee dialogue.
It is no wonder that 90% of Fortune 500 companies employ multi-source assessments.
You can contact us about 360° feedback tools (Or bespoke assessment centres) here or follow us on social media for the latest updates about organisational development solutions that can take your business to the next level.
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