Out of the various performance management (performance tracking & review) methods such as continuous feedback, 9 box matrix, rating scales, and bell curve etc., 360 degree feedback is the most recommended one which is used for employee appraisal purposes.
In this performance appraisal process, as the name suggests, feedback is gathered from employees all around the organization(360 degree). From the managers and HRs to CXOs and peers of the employee, to self-evaluating, everyone has a say in the overall performance assessment and conduct of the professional being evaluated.
This system of giving and receiving feedback-
- Promotes – “EACH ONE, MOTIVATE ONE”
- Treats everyone as EQUAL
- Maintains a TRANSPARENT evaluation system
- Makes recognition a habit, it remains CONTINUOUS
Here’s a list of the 8 steps of the 360 degree feedback:
- All-round communication
- Raters Selection
- Survey Distribution
- Questionnaires Completion
- Report Generation
- Feedback Facilitation
- Development Plan Formulation
- Re-evaluation
Let’s have a look at each step of the process in detail to ease the understanding of the readers and simplify the implementation of the same.
- All-round communication
As mentioned earlier, the method is all about taking feedback from all the directly or indirectly related employees of the company. All the stakeholders are communicated about the process, its purpose, and the modus operandi. It may take 1-3 days to spread the word across the office and successfully initiate the 360 degree process.
- Raters Selection
It is important to choose the number and type of employees who will be eligible to rate a particular peer. Selecting the raters depends on employees’ job role, department, and working relationships. The participants need to choose enough reviewers to ensure comprehensive and relevant feedback data. Raters selection may take up 1-2 weeks of time which includes managers, supervisors, direct reports, colleagues, and external clients.
- Survey Distribution
There is a set of questionnaires prepared and distributed among the raters by the team of HRs for the feedback providers to answer. The employees receive emails regarding the same. A span of 1 week could be given to this step.
- Questionnaires Completion
For the assigned raters to complete the survey, it takes a good amount of time to consider and analyze various aspects of the employee under the lens. Since this could be a time-taking step, a deadline needs to be set so that the reviewers submit the completed forms within the stipulated time. It may take 2-4 weeks to do the same.
- Report Generation
The completed surveys are later assessed to prepare the performance reports of each individual based on the response and remarks. These reports are detailed and give insights to the employees about every area that they excel in and things they need to work on. With a 360 degree feedback system, the reports can be produced within 1-2 days.
- Feedback Facilitation
As per the organization’s feedback delivery plan, the results of the survey or feedback can be shared directly via mail or disclosed in one-on-one performance appraisal meetings. It is recommended to inform the employees about their performance review personally. It doesn’t take more than 2-3 hours per employee.
- Development Plan Formulation
The 360 degree review process is all about creating a development plan for each employee based on their reports. As per the review an actionable improvement plan is formulated and training, workshops, knowledge sharing sessions are organized to overcome the shortcomings. It may take upto 1-2 weeks for this.
- Re-evaluation
The 360 degree feedback method is meant to be established as a regularly practiced process rather than a one-time activity. Hence, employers and HRs must specify that subsequent reviews will also take place every year. This is done to track the progress and keep a check on the changes over time. 8-12 months is the ideal time for re-evaluation to happen.
Takeaway:
The key note to be taken down from this detailed explanation of the 360 degree feedback process is that it is an effective performance measurement and management tool. It is only fruitful if the company practices the same all throughout the year like a thought-through and futuristic procedure as opposed to a one-off job that runs its course too soon.