If you want your organisation to strive towards constant improvement and help your managers become better leaders, performance review should never be just a one-way street. 360 feedback, as the name suggests, draws on multiple perspectives, including peers, direct reports, teams, senior staff and even clients. This can form a broader and more objective understanding of somebody’s performance, or the success of a particular project.
360 feedback is also an excellent tool to help you make important cultural changes within your business. Here are four reasons why.
A culture of openness leads to more cohesive teams
By its nature, 360 feedback fosters a culture of openness, in which team members at all levels are reminded that their honest opinion is vital to the success of the exercise.
Teams which can communicate honestly without fear of reprisals or awkwardness become more cohesive, and ultimately more productive.
Everyone’s voice is heard
By drawing in voices from all levels of your company’s hierarchy, 360 feedback can help to ensure that the changes you’re making are actually going to bring about the benefits you hope.
Imagine a new system being brought in by a manager without first consulting with the team who are going to be using the system, finding out their pain points and requirements. Attempting to push through cultural change without understanding voices at all levels can have a similar effect.
Empowered employees are likely to be more loyal
In a recent Hubspot survey, 69% of workers interviewed said that they would work harder if they felt more appreciated. Where employees feel engaged, empowered and appreciated you can expect a boost in quality of work, and also in company loyalty.
Seeking 360 feedback is one step towards empowering employees, giving them buy-in to the culture and mission of your business. In turn this can boost productivity and loyalty, and reduce the costs of employee turnover.
Must be acted upon to see continuous improvement
There’s a catch, however. To achieve all of the above and see the continuous improvement you’re longing for, 360 feedback needs to be paired with action.
Ensure that you set in place a clear roadmap to weigh and act on the outcomes of your 360 feedback process, and communicate with the whole team why and how you’ve done so.
Do you need a robust and effective 360 feedback process for your business? Speak to one of our team for a free 30 minute consultation.