360º feedback has become a necessary process among the human resources department to focus on the people who make up a company or organization. It helps to know the strengths and weaknesses of the employee, in order to create corrective measures for their best performance.
Many companies opt for 360º feedback since it is a very effective and affordable process. And that brings great added value to the company.
“Employees who feel that management cares about them as a human being and not just an employee; they are more productive, they feel more satisfied and more fulfilled. Happy employees mean happy customers, which leads to profitability.”
Anne M Mulcahy, former CEO of Xerox
What is 360º Feedback?
360º feedback is a process in which an employee, after being evaluated, receives all the information about their performance, performance, motivation, skills, results, etc., from different positions in the company.
The feedback that we all know comes only from the direct supervisor. In this case, 360º feedback makes up the entire hierarchical pyramid of the company. In addition to customers and suppliers with whom the company works.
In conclusion, with 360º feedback, a person is evaluated by all the people with whom they are related at work and with whom they have a minimum of interaction on a regular basis.
Benefits of 360º Feedback
Here we leave you a series of benefits and advantages of having a 360º feedback:
REDUCES BLIND SPOTS
360º feedback, as its name suggests, is a feedback process that helps to obtain information about strengths and weaknesses.
This reduces blind spots and increases employee performance. It also helps to know how to identify the hidden talents of employees, and thus increase their motivation.
DIVERSITY OF OPINIONS AND PERSPECTIVES
Normally we are used to getting feedback from the people closest to us, or those we trust the most. But, the 360º feedback provides us with information about all the employees and collaborators of the company, obtaining a balance of opinions.
What a teammate may think of us is not the same as the supervisor, client or other person with whom we interact. With each of them we have a different type of relationship, so their opinion varies. That is why we will obtain a more global result of the feedback, knowing the different perspectives that may exist in the company.
BETTER KNOWLEDGE OF SELF
By having 360º feedback, all people will be able to obtain a more complete vision of themselves, knowing both their strengths and their weaknesses. They will also be able to find out how others perceive their behavior in different situations that occur in the company.
INCREASED CONFIDENCE
The feedback obtained with 360º feedback helps to improve the confidence not only of employees, but also of team leaders, since they feel more comfortable and better with the organization.
LESS ROTATION
There is no doubt that retention is a very important factor for companies, and that they spend a lot of time on strategies to achieve said objective and reduce turnover, but it is of no use if this retention does not imply the commitment of the employee that we achieve with a Loyalty.
It is more important that the employees who are part of our company decide to stay with us for reasons other than salary, such as the benefits of having a 360º feedback. Feeling of belonging, commitment, motivation, feeling valued, etc.
To achieve this, we must apply a series of loyalty strategies, such as gamification.
Thanks to gamification, companies obtain greater and better communication with their workers, in addition to promoting corporate communication. In GumsUp, we are specialists in in loyalty platforms and commercial motivation systems. Thanks to this type of strategy, you will reinforce personal motivation and improve group dynamics.
IMPROVE WORK CULTURE
Despite the fact that 360º feedback is done anonymously, the feedback goes directly to the employee in question, and is provided by team leaders and managers, and vice versa. In this way, apathy between them is reduced and a better work culture is created.
