In order to successfully function, a business must have employees that perform well and add value to the company. Actually measuring that performance, however, can be a bit of a challenge - many traditional evaluation methods don't offer a thorough enough indication of a given worker's capabilities and achievements.
We at Strategic Pay have an effective tool that shows feedback from a variety of an employees contacts. It is called our 360 degree feedback tool - read more about it below.
What is the 360 Tool?
360 Degree Feedback is where employees are anonymously evaluated by their colleagues, bosses and direct reports, a process that gives a multi-faceted review of that person's performance. The 360 Tool itself is an online form sent to selected contacts, then compiled into a report that highlights the employee's strengths and weaknesses in a constructive and positive fashion.
One unique aspect of the 360 degree feedback is that the employees get to submit a self-evaluation that will then factor into the overall results. This allows employers to compare the way the colleagues view a given employee's performance with the way they view it themselves. The 360 survey can also be sent to external contacts that are important to the company's success, such as significant clients or the business's board, giving an even more comprehensive view of the employee's performance.
Advantages of the survey
There are a number of benefits that come with implementing a performance measurement tool such as the 360 tool. Firstly, the employee in question receives a rounded and comprehensive picture of the way their performance at the company is perceived. The report itself is compiled in a way that is easy to read and positive, allowing them to focus on the constructive feedback without getting bogged down by unnecessary information.
Above all, the 360 Tool helps employees and employers alike set performance goals and identify problem areas. We suggest that each member of your team analyses their report and comes back with a few elements they plan to work on in the future. This approach gives your employees a solid basis for agreeing performance development plans.
If you are looking for a better way to evaluate your company's performance, get in touch with Strategic Pay today to hear more about the 360 Tool and our other performance development solutions.