Importance of 360 feedback system for business organizations
Performance evaluation is one of the most effective ways to assess the employees’ behavior and performance at workplace. The most commonly evaluated areas are organizational skills, competency at meeting deadlines, quality of work, behavior, communication, productivity growth and achievements, relationships with other employees and a lot more. This kind of thorough evaluation helps the management to have a comprehensive feedback from the employees. The 360 feedback system
refers to a process through which a specific employee receives feedback from multiple sources about matters related to work. This feedback is provided by colleagues, subordinates, peers, managers, supervisors, stakeholders and clients. This kind of feedback is collected with the use of a well designed questionnaire which includes a range of important questions pertaining to various competencies related to the workplace. These questions are then weighed or measured on the rating scale. It is also quite essential to include open ended questions as to encourage text comments and comprehensive feedback from the employees.
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The 360 feedback system is a significant way to gather important information and insight to be utilized in the decision making process by the management.
As such, this system finds great importance in the human resource and research field. Business heads and managers make the use of this evaluation method to understand the strengths as well as weakness of the employees. The results obtained from the evaluation are tabulated automatically to create an efficient plan for the growth and development of the organization. The system also offers a brilliant way to the employees to develop effectiveness and efficacy in their current roles. It helps them to know about areas where they are doing well and also the areas which require improvement. Thus, the 360 feedback system serves as an excellent development tool for the organizations to enhance overall performance and productivity and take their business to exceptional heights.
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