It is essential for any company to keep on the tabs about several aspects which can be helpful in improving the overall growth of the company. Feedback and review system play a vital role in the market. 360-degree feedback is the modern method which is utilized to get the anonymous feedback from the workers, managers and the peers, which can be later taken into account. Plenty of large-scale MNCs have successfully implemented this method, and several other companies are following suit. The method is completely efficient in terms of improvement, management, performance enhancement and much more.
Read: How to Receive Payment From Adsence if my Bank Doesn’t have SWIFT BIC Code ?
360-degree feedback structure can be highly successful in determining the holes in the work structure which are not easily seen. The feedback is anonymous, and as a result of which, there would be no personal issues between the person who is filling the feedback and the person for whom the feedback is being filled. This is an old age method which has been given a modern touch. In previous times, the feedback used to be taken by word of mouth or personally asking the members or workers to see if there is a room for improvement, the condition of their mindset and much more. Now the only change is that it is done online with modern software. It is basically a form which has a certain amount of questions pertaining to the company or managers or some specific person/people. The whole process is done in an anonymous way so that it does cause any personal beef with another person. By means of this feedback, the management or the highest level at hierarchy would know about the insights of their workers and about their workers and about themselves as well.
The feedback method promotes healthy growth in the company, and as a result, the company can scale in a better way. Often it happens that the workers are not able to openly tell or mention things to their superiors about the work environment or the bad practices by the colleagues, or unfair treatments, etc. It is mostly due to the fear of various factors that doesn’t let a worker or peer let things known. The 360-degree feedback method would be helpful in transparency in the company in the workplace as the feedback is done in an anonymous way which gives the feedback providers the confidence to let their insight known in complete confidence.
Read: What is Monthly Average Balance in Bank Account ? How it is Calculated ?
What exactly is 360-degree feedback?
It is a top secret and anonymous method which is for all the people who are working in a company. The workers, supervisors, peers, managers, boss, and people with whom interaction is done on a daily basis, all the people in a hierarchy are included for the 360-degree feedback. It usually consists of a form which would comprise the questions and queries covering several aspects of the workplace. The 360-degree performance appraisal survey method is not limited to just the workers as leaders and the management too is a part of the form.
In recent time, the method of feedback is done online which is much easier and less time-consuming.
The must-have features of the 360-degree performance appraisal tool
- It should be cost-effective as there is no point in burning through a large chunk of money just to get a tool which is readily available somewhere else at better cost. The payment can be made through the case, netbanking, debit or credit cards, and even the e-wallet.
- At certain time, the person who is filling the feedback form may come across some troubles and assistance might be needed. Such a tool should be purchased that has the facility of customer support. That allows the person to contact the toll-free number or send an e-mail about the issue so that it can be resolved at the soonest notice possible.
- It is highly beneficial if the tool has the feature of auto-save. Certain circumstances cannot be helped such as the crashing of the system, power loss, circuit issues, eternal factors and much more due to which the process of feedback could get stopped in between. Now if the feature of auto-save is enabled, then there would be no concern about the loss of data.
- The type of question that the feedback hosts is also a vital aspect and hence the question bank should be competent, and the pointed question would be helpful in better evaluation.
- The tool should be user-friendly. It just means that if the template or the design is overly complex, then it would just make it a bit difficult for the feedback to be done. However, if it is user-friendly, then the person doing to feedback and the person who will go through the feedback, the task would be made much simpler.
Read: Kotak Mahindra Bank Introduced WhatsApp Banking Service – Now Get Your Account Details From Your WhatsApp
In this cut-throat world of competition, it is important for the staff members to keep on learning the new skills because if that is not reached, then they might lag behind than the rest and can become a hindrance for the company especially is the company wants to scale at a faster and better rate. The tracking of progress, the insights, the quality of work, workplace environment is important to measure from time to time. Having a structured feed system like the 360-degree feedback tool would enable the company to get the insights of the employees and the peers and the people with whom regular interaction is done. As a result, the motive of employee development and growth can be easily achieved.
The feedback would help in various aspects like identification of the weakness & strength, determination of performance appraisals, improvement of the productivity as well as work relations, identification of the training requirement, and much more. It would also support the culture where one can openly tell about things that can be worked upon for the betterment of the company. Employee these days like to believe in the concept of mutual growth of themselves as well as the company and these types of methods would be quite helpful in achieving that.