360-degree Performance review involves a review of employee’s KPIs by self-reporting, manager, peers, subordinates, and client. Feedback generated from different levels makes the 360-degree review approach more robust and meaningful.
By adopting 360-degree performance feedback at the time of appraisals, employees get a fair idea about his performance because an employee gets real-time reviews from his self-appraisal, peers, subordinates, immediate managers as well as client to analyze his/her performance. As per the trend, it says employees would work harder if they felt their efforts were better recognized else they will hardly work.
The participation of 90-degree feedback during performance appraisal is a one-way road. The views and ratings of the reporting manager are only taken into consideration to conclude the yearly employee performance, increment, promotion, and bonus which doesn’t leave a scope of getting opinions from peers and subordinates. If the employee doesn’t have good terms with the manager, there could be chances of getting a lower rating compared to other peers who might have a good personal equation. Due to the biasness of this behavior, it may impact the appraisal of employee performance. 90-degree performance appraisal is only effective when an employee working as an individual contributor on a specific client.
Benefits of 360-degree performance feedback:
-Identify strengths and weaknesses
-Helps in Performance Appraisals
-Improve the productivity rate of an individual and organization
-Build Transparent and open forum culture
-Enable ongoing learning and career development
-Promotes continuous Improvement
-Identifies skill gaps for training
-Improves work relationships between employee and management
This leads to increased employee morale, higher productivity, creating a positive culture, and improves overall performance and effectiveness of an organization.