360 Performance Review Software
Improve How You Provide Feedback with 360 Performance Review Software
The overall contribution an employee makes to an organization typically isn’t measured during a performance review. Managers generally use these reviews as opportunities to assess how successful a worker has been at reaching key goals and improving on areas of weakness. These are important factors, but they paint a limited picture.
That’s why 360 performance appraisals are also necessary. This process involves gathering 360 degree feedback about an employee’s contributions from relevant staff members who work with them. This can include other managers, qualified coworkers, and anyone else to whom the employee may collaborate with.
The goal of a 360 performance evaluation is to learn more about how an individual communicates with others, cooperates with fellow employees, and participates actively within the company.
The Benefits of Using 360 Performance Review Software
360 performance review software enjoys a major advantage of providing a more holistic view of an employee’s contributions. In doing so, this type of employee feedback can help managers better understand the value a particular worker brings to the company.
For example, an employee that has regularly met their key goals may still need to work on their interpersonal skills in order to fulfill their potential within the organization. It’s difficult to assess that quality in the course of a typical performance review.
One of the most valuable benefit of peer reviews is to use it as a tool for employee development. When people are struggling to hit key milestones, reflections from their co-workers can offer the developmental feedback they need to improve. Managers can then use this information to have development conversations that help employees to succeed and do their best, most creative work.
How to Begin Integrating 360 Degree Feedback Into Performance Reviews
360 performance feedback addresses the blind spots that often plague managers. The problem is, organizing a performance evaluation that utilizes 360 degree feedback can be difficult: HR and individual managers must identify relevant people to involve, schedule enough time to have genuinely useful meetings with them, and ensure the process remains as confidential as necessary. This can require a lot of time that might be better spent on other tasks.
This is where 15Five’s 360 performance review software comes in handy. The process includes a self review, manager review, peer review, and upward feedback. All of this fits into a proven continuous performance management process that includes a weekly check-in, one-on-one meeting agendas, OKRs, and peer recognition. The weekly check-in ensures that both managers and employees can provide one another with valuable feedback on a regular basis. The one-on-one meeting agenda feature allows managers to easily plan and schedule meetings with individual employees, and create a clear list of action items to address. Data and feedback from weeks of tracking OKRs, recognition and one-on-ones inform reviews for everyone in the 360 process.
15Five Solves The Common Problem with 360 Performance Evaluations
360 reviews are a great development tool for employees when they are being used appropriately, but are ineffective for compensation and promotion decisions, especially where there is a competitive pay structure in place. When peer reviews are a significant factor in the compensation decision, employees tend to choose peers who are most likely to offer positive feedback. This disarms managers from being able to provide developmental feedback, because the employee has selected out the people who are going to be critical.
This is where the 15Five 360 Performance Review really shines. First, a separate compensation review is baked in to prevent infighting and discord. Second, because people are regularly giving and receiving feedback via their weekly check-ins, they understand how to give feedback that is constructive.
And since 15Five’s Best-Self Review is primarily an employee development tool, peers understand that they are being asked for feedback that helps employees improve. Then the respondents provide quality feedback about where employees shine and where they can improve. By prompting the reviewer with the right question template, peers provide feedback with the best interest of their coworkers in mind.
Finally, 15Five High Fives, our popular peer recognition feature, also primes employees for collaborative peer reviews by creating more collaborative work environments. Our High Five Feed displays all of the peer recognition throughout the organization, as well as who gave and received the most employee appreciation for a given time period. Cultures built on appreciation are cultures that find success with peer evaluations.
Why Efficient 360 Performance Evaluations Matter
It’s clear that gathering feedback from others about a given employee’s performance is valuable. Primarily, it gives you the opportunity to more thoroughly understand how each and every member of a team contributes to the overall success of the organization.
Being able to schedule and perform this type of appraisal efficiently is also extremely important. Our 360 performance review software lets you gain the information you need about an employee without diverting substantial amounts of time, focus, and effort away from other tasks. By checking in with your team regularly, it also gives you the chance to develop effective plans for correcting minor employee issues before they become major problems.
The standard annual employee performance review represents an outdated method for assessing an employee’s contributions and overall performance. Consistent and efficient 360 performance evaluations should be part of any forward-thinking company’s plans.
Employees aren’t merely resources for achieving company goals; they’re the lifeblood of each organization. As such, every member of the company can help you better understand and appreciate how their colleagues are learning, developing and contributing to your business.