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Many of the higher-benefitting companies in the survey were not only sharing the results with the participants of the feedback, but also including their customers in the process. Customers were asked to rate the feedback survey participants, because involving the customer requires a follow-up action on the part of the participant: they must provide feedback to the customer, "closing the loop," and spurring a team approach to the resulting action plan.
Since talent development is a top priority for most organizational leaders today, 360 Degree Feedback can be used as a powerful tool to help keep companies on target with their goals. By using feedback, top organizations can better oversee daily operations that lead to top achievement. 360-degree feedback is an evaluation method that incorporates feedback from the worker, his/her peers, superiors, subordinates, and customers. Results of these confidential surveys are tabulated and shared with the worker, usually by a manager. Interpretation of the results, trends and themes are discussed as part of the feedback. The primary reason to use this full circle of confidential reviews is to provide the worker with information about his/her performance from multiple perspectives, and many companies who utilize the 360 feedback to its fullest enjoy higher industry profits, better rankings, internal communication, and create a workplace where employees and managers have a clear understanding of how they must work together to fulfill their personal and organizational goals.
360 Degree Feedback evaluation tools can be used in any corporate setting. However, when discussing feedback, it is important for managers to take into consideration...
It is crucial from the participant's view that the manager not be seen as biased against race, gender, or ethnicity or the feedback may be rejected.
As with any facet of business, there are advantages and drawbacks. As an evaluation tool, 360 Degree Feedback has many factors that encourage its use, including individual growth and improvement, a guarantee of confidentiality in results, and the opportunity to learn areas where company goals can be improved upon. However, the downside of the feedback approach includes many areas that are looked on as detrimental in the process, and organizations who rush into the 360 Degree Feedback often find that comments can be traced to individual participants, causing resentment between workers. Also, some answers are not linked to the company's goals at all and are viewed as a "waste of company time." An excessive number of surveys may be required of each worker, further aggravating the issue of time lapse. But the most detrimental drawback is that poor implementation of the 360 Degree tool often can affect employee motivation in a negative way, thus lowering company morale.
Prior to investing time, money, and other corporate resources into a 360 Degree approach, corporate managers should review similar entities within their industry to find out if the feedback approach would benefit their company, and perhaps review their current evaluation system to see if it warrants an overhaul.
Bibliography
Rogers, Evelyn; Charles Rogers,; William Metlay,. "Improving the payoff from 360-degree feedback." Human Resource Planning. 2002. Retrieved October…
Bibliography
Rogers, Evelyn; Charles Rogers,; William Metlay,. "Improving the payoff from 360-degree feedback." Human Resource Planning. 2002. Retrieved October 06, 2009 from accessmylibrary: http://www.accessmylibrary.com/article-1G1-93463238/improving-payoff-360-degree.html
According to Weiss and Kolberg, "In the 1960s, a breakthrough in sharing the assessment results came from the Peace Corps when the psychologists who were working with the volunteers used surveys that were geared to expand the volunteer's self-knowledge, under the assumption that expanding self-knowledge would help a volunteer better deal with culture change. This was the first time that this type of assessment was done for the primary benefit
Consumers' high level of interest in all these products and their build-to-order configurations also point to significant bargaining power of suppliers. Suppliers of MP3 players, cell phones and convergence products also have a significant bargaining power relative to Best Buy and other retailers, and this is especially true of Apple with their series of iPods. MP3 as the market standard for music formats has correspondingly lead to significant bargaining power
The most critical aspect of these systems is the ability to create a highly collaborative, communicative, trusting environment for workers (Bert, 2009). It is not the software that matters the most; it is the ability of a leader to bring lasting change into an organization and lead it to a transformational state over the long-term (Krishnan, 2004). That is the role of an excellent leader implementing these social network
These authors add that with respect to this exemplary leadership quality, "Although a significant difference existed by gender, both men and women rated challenging the process as their least developed leadership skill" (p. 259). This also means that people must be willing to take personal and professional risks, including speaking up for what they believe in the workplace, but the cost-benefit analyses that are routinely used by winners can
Managing All Stakeholders in the Context of a Merger Process Review of the Relevant Literature Types of Mergers Identifying All Stakeholders in a Given Business Strategic Market Factors Driving Merger Activity Selection Process for Merger Candidates Summary, Conclusion, and Recommendations The Challenge of Managing All Stakeholders in the Context of a Merger Process Mergers and acquisitions became central features of organizational life in the last part of the 20th century, particularly as organizations seek to establish and
Human Resource Management - Personal Case Studies Human Resource Management The universe of information on effective management is enormous. A manager who desires to improve his or her skills will have no difficulty finding ideas and even guidance in the literature. Some of the most evidence-based management data has been established by the Gallup Organization. Over a 25-year period of conducting research, the Gallup Organization has compiled data from observations in excess