360 Degree Feedback is a familiar tool in the kitbag of many coaches and talent managers. Over the past few years, many organisations are designing bespoke 360 Degree Feedback to meet their talent goals.
Who are the leading organisations who use 360 Feedback?
We’ve been tracking to find out how leading organisations use 360 Feedback. Here are some examples of what we found:
In May 2016, Goldman Sachs announced that their new approach to performance review would rely on ‘high quality and ongoing feedback’. This is because ‘360 feedback will improve people’s performance’.
Vineet Nayar, when he was CEO at HCL Technologies, put in place 360 Degree Feedback for every staff member. For him, it was important for managers to get feedback from their teams. So committed was he to this idea, that he regularly published his own 360 Degree Feedback on the company’s intranet for everyone to see.
Here are a few examples of how leading organisations are using tailored 360 Degree Feedback:
- An IT services company uses bespoke 360 to build organisational skills. They use the 360 to assess how effectively managers lead their teams. In addition, they include this as part of the annual performance review of those managers.
- The same company also now offers manager certification based on 360 feedback from their teams.
- Another organisation uses a 360 model to measure people against a professional skills, which is their organisation’s USP. This results in a consistent skills focus in the company.
- Finally, a young, highly dynamic company in the online gaming sector uses 360 to build a culture of fast feedback and performance.
What are the key uses for 360 Feedback in leading organisations?
So 360 has greater potential that just an individual coaching tool. As well as coaching, it’s a key resource for developing individual employees. By doing so, it makes the organisation more effective. That’s why leading organisations use 360 Feedback in their processes. These include performance, development, leadership, talent management and succession planning.
Enabling 360 Degree Feedback technology
Using a flexible 360 platform means that it’s much easier to create bespoke 360s. These can be for different purposes and different groups within the same organisation. Online and software-as-a-service allow you to reach a global audience. This supports common values, behaviours and competencies. 360 is becoming an indispensable tool for defining, measuring and tracking change. That’s why leading organisations use 360 Feedback in a variety of ways.
For more information on 360 feedback, please contact us.
Track 360 is a online software tool you can customise to your organisation’s unique competencies. To find out how it works, and request a trial, click here.