360 performance appraisal is a process in which an employee is assessed by everyone who is in a direct contact with him in the company and can provide valuable information about his performance on his job. This method was first used in 1940s. The employee is rated by his superiors, his subordinates, the staff of the company and his peers. More often than not, his assessment is used for the employees at middle and senior level. The feedback obtained by this kind of evaluation is added to the employee’s 360 performance review which helps the company in taking decisions about the employee’s pay and his post in the company.
The holistic evaluation done by the people who are in contact with the employee helps him and the company as well in a number of ways. The company, with the help of this assessment can monitor every move of its employees and ask them to do better if they lag in any area. The evaluation done by the peers of the employee helps those who undervalue themselves. This assessment will inculcate confidence in those who think they are not good enough. This 360 degree performance appraisal also makes the employees responsible towards their customers and helps them do justice to their jobs.
Due to its advantages, it is used by many companies across the globe to rate the performance of their employees like Infosys, Wipro, Reliance Industries and many more.
When the sources of feedback are many, it becomes almost impossible to ignore. The employees or managers are rated anonymously by their staff and peers and this helps the evaluators give an honest feedback as they do not have to worry about the negative outcomes of the evaluation. This assessment is more commonly done to assess the potential of the managers of a company. It helps the company know about his leadership and managing skills and if he is working well with his team or not.
As there will be many evaluators for this kind of evaluation, there will be a mixture of ideas. These ideas will help assess an individual in a better way.
Peoplogica 