Why Invest in a 360 Feedback Tool?
Tags: HR, 360 Feedback, Performance Management, 360 Degree Feedback

Wondering if a 360 feedback tool is a good investment for your HR department? As you may know, a 360 feedback review collects input on an employee’s performance from a broad range of people. It gives you a well-rounded view of how an employee is performing based on responses from superiors, subordinates, and coworkers.

A 360-degree feedback tool provides an easy way to gain a wealth of knowledge on employee performance. With minimal effort on your part, you’ll give your employees the vital feedback they need to improve. That way, you can focus on coaching them to success as they make use of these insights.

Still thinking it over? Here are the main reasons to invest in a 360 feedback tool this year.

Promoting honest feedback

Often direct reports and peers have incredibly valuable feedback about their boss or coworker, since they work together so closely. However, because they’re not that person’s manager, they may not feel it’s their place to speak up. They may feel anxious about the idea of doing so.

That’s where a 360 feedback tool comes in. You-and, more importantly, the participants-can rest assured that a good 360 feedback platform keeps responses fully anonymous. That means employees won’t feel nervous about being completely honest about sharing constructive criticism about a superior. As a result, you and all your employees will get better, more accurate insights.

Keeping remote teams in sync

Most teams are currently working across a geographical distance, so you need to go the extra mile to help them stay in sync. When working together in person, employees gain a variety of feedback from one another on a daily basis. This knowledge promotes self-awareness and allows them to address issues as they arise. A 360 feedback tool serves as a valuable channel of information that helps remote teams reach that level of understanding and synchronicity. By helping you spot and address areas where employees need to work together more effectively, gaining 360 feedback will help you to build more cohesive teams.

Allowing you to easily understand results

A good 360-degree feedback tool can find patterns in your data for you. It produces reports that reveal these patterns. By synthesizing the results, it helps you draw your own well-founded conclusions.

Plus, a great 360 feedback platform provides clear visuals and graphs that help you understand the results. At a glance, you can see exactly how an employee is performing. This also helps you explain the findings to your employee more clearly.

Additionally, a 360 feedback tool can compare the rating styles of different managers. This can help you understand whether particular managers tend to rank employees higher or lower.

Measuring progress over time

With a 360 feedback tool, you can easily monitor employees’ progress over time. It helps you track patterns from one review cycle to the next. Thus, it gives you a better big-picture understanding of employees’ long-term performance and the effort they’ve put in toward improvement.

Having this level of knowledge will greatly improve employees’ self-awareness. Likewise, it will enhance performance management by giving managers a richer understanding of employees’ strengths and weaknesses.

What components of a 360-degree feedback tool should you be searching for? In our article “ What to Look for in a 360-Degree Feedback Tool,” we outline the key features of a great tool so you can make an informed decision.

With a quality tool, you won’t have to keep track of who still needs to complete their review. Instead, the software will send them automatic reminders. Your 360 feedback tool will deliver all the feedback to your desk-no paper-pushing required. In light of the pandemic, this flexibility is absolutely essential.

Since this tool makes the process so simple, you can focus on using the results in performance management!