Do you need to ensure your firm’s growth rate is in double digits? Then, engage in 360-degree feedback! Most companies rely on the supervisor’s assessment to make vital decisions. But, that’s because they don’t know the benefits of 360-degree feedback. Also, one person’s feedback may not provide reliable feedback. Below in this article, we will cover the information 5 Reasons Why You Need 360 Degrees Feedback.
360-degree feedback is affordable and easy to do. Also, most industries can use it. It involves getting views from multiple sources.
Reasons Why You Need 360 Degrees Feedback
1. Increases self-awareness
Feedback from one source can be biased. Some senior managers will provide bad feedback about an employee they don’t get along with. But, 360-degree feedback will provide an assessment from many sources. It’s reliable because not all these people can be biassed or one-sided. You’ll then get to know the strengths to maintain and the weaknesses to improve the crew. Nobody knows themselves for real! It is vital to understand who you are in the eyes of others. If several people point out the same weaknesses or strengths, then you know where to improve. The feedback may reveal your positivity. It doesn’t mean you relax. There’s no end to stretching your strengths.
2. Boosts morale and builds confidence
The primary aim of 360-degree feedback is to uncover your unknown strengths. Also, it aims to unearth your weaknesses in a safe environment. You might not know some of your shortcomings; otherwise, you would have dealt with them a long time ago. Also, you wouldn’t know some of your strengths. Knowing about yourself is essential. Also, getting to know how others view you creates confidence. It also boosts your morale.
3. Establishes a culture of openness in the company
Before people give their opinions about you, they will discuss. So there will be nothing to hide. Your weaknesses will be presented constructively to avoid hurting you. The culture of openness will create a cohesive environment. Also, the employee will become more productive. They will all work as one happy family knowing that no one has bad blood against the other.
4. Reduces employee turnover
The reason some companies have a high turnover is because of biases. Some employees will think that their manager might not give a good report about them. In effect, they assume their hard work is in vain. If the top management depends on the supervisor’s assessment, then some workers opt to leave. 360-degree feedback reduces turnover. The evaluation does not come from one source. Some companies will involve outside views such as customers.
5. Empowers the employees and the customers
The company engages the workers and the customers in the assessment. In so doing, it makes them feel valued and empowered. They also think that they have a voice in the organization. It increases their loyalty and morale. The employees become more productive as they feel that they are an integral part of the company.
The safest way to understand your weaknesses and strengths is to engage in 360-degree feedback. It also helps to uncover individual blindspots in your employee’s behavior, and this is essential as it enables your organization to have continuous employee improvement.