Performance appraisal system is important for the overall growth of an organization. A robust performance appraisal can change the way people work and bring about an improvement. It also leads to a change in behavior and culture in the organization. In this competitive world, a good appraisal system is considered to be a necessity.
The 360 feedback is comprehensive appraisal system which offers a feedback on the performance, as well as the behavior of the employees. Evidence has shown that the organizations that have incorporated this appraisal system have seen a positive and noticeable change in the working environment.
An efficacious feedback like this will help an organization to direct the behavior of the employees towards the goals of the organization. In a well-established global organization, a good appraisal system is important for managing the employees. Here are some of the reasons why a 360-degree appraisal system is important for an organization to compete in the market.
An efficacious performance appraisal system will help in motivating the employees of the company to work better and offer better performance. When the employees find out how the others perceive them, they try to bring a positive change in their output.
Gets Rid of the Shortcomings of Single-Source Assessment
The 360-degree feedback offers an all-around perspective of the performance of an employee. This is the reason this feedback is not biased and offers credible results which are helpful for the organization, as well as the employee.
Promotes Better Communication
This is an appraisal program which enables the employees starting from the managers to the team members to communicate with each other more freely. As a matter of fact, the employees can talk about the performances. This, in turn, helps in improving the team work and also cohesion.
Provides Proper Measurement
The 360-degree feedback offers a varied and new perspective. This is quite different from the other appraisal system. The feedback helps on offering a proper assessment of the abilities and skills of the employees.
Supports Training and Development Requirements
Since this is multi-source feedback it offers a clear idea regarding the utility of the training and development programs. In fact, it offers an exact assessment of the return on investment of the training programs.
Reinforces Organizational Values
A feedback from this appraisal system offers a clarity on who the various levels and groups of employees perceive the performance the organization. Outlying a corrective action and proper measures can be implemented adequately with the help of this appraisal system.
The 360-degree feedback does not have an appraisal system and the manner in which it is formulated usually depends on the business environment and various other factors. This is a continuous process and evolves with the passage of time. Even though it primarily focuses on the performance appraisal, it can also be used in some other context for measuring the performance of the organization.
360-degree feedback has become the new tool for the human resource professionals. However, if you wish to make the 360-degree feedback system successful, you need to gain acceptance of the employee.