How to conduct a 360-degree performance review
Tradition is being abandoned when it comes to performance evaluations.
Many companies have changed their ways to be more agile in their performance management. This shift isn’t just for future-oriented tech giants like Google, Netflix, and IBM. Deloitte, a big-name consultancy firm, and General Electric, a pioneer in performance management, are also on board.
It’s not surprising, considering the research. Gallup found that employees give their performance reviews a lower-than-stellar score. Only 14% of employees strongly agree that their performance reviews motivate them to improve. 2 out 10 employees strongly agree that their performance management motivates them to do exceptional work.
Source: Gallup. How can you hold your team accountable and inspire them to grow? We’ll show how and why TeamGantt conducts 360-degree performance reviews and give insight into the best practices that other companies use.
A 360-degree performance review has many benefits
A 360-degree review is different from a traditional performance appraisal. It includes peer feedback and direct reports voices to provide a more complete picture about employee performance.
Employee performance is not a one-way street. Let’s face it, as a leader, you only have so much to see.
Your team is working together to get the job done, even while you’re busy in meetings and writing reports. 360 reviews are more than just a way to hold your team members accountable. They hold your team members accountable for the daily interactions that determine your team’s success.
This accountability breeds efficiency.
We are a small team and must ensure that we all perform at our best. Nathan Gilmore, co-founder of TeamGantt
“You might have suspicions about someone’s behavior and what their peers think of them. Nathan explains that a 360 review can give you a complete picture of the person, including their performance, strengths and weaknesses. “When you are more interested in other issues or trends, you may be able to help that person along the year and encourage them or give them more resources.
How to implement 360-degree performance evaluations
How can you rethink your performance management process? These are some tools and tips to help you conduct 360 reviews with your employees.
Establish a culture that fosters trust
For 360 performance appraisals to be successful, trust is essential. Each member of the team should feel comfortable sharing honest feedback without fear from you or your colleagues.
This trust can be fostered within your team throughout the year. EY’s 2016 global survey of 8 countries’ full-time workers found that trust begins with mutual respect, integrity, open communication, collaboration, and cooperation.
Source: EY. (2016). Could trust be costing you a generation? Global generations 3.0: A global study about trust in the workplace (EYG Nr. 01780-161Gbl).Source: EY. (2016). Could trust be costing you a generation? Global generations 3.0: A global study about trust in the workplace (EYG Nr. 01780-161Gbl).Keeping peer reviews anonymous–and clearly explaining that anonymity is part of the process–also goes a long way in making your team members feel comfortable being open with their feedback.
It’s all about balance when sharing peer feedback with a member of your team. You can be as specific as you like, but don’t reveal who said it. John Correlli, co-founder of TeamGantt, says that “we’re not giving anyone else’s identities, so you can feel comfortable that we are not giving away ours.”
Craft your performance review surveys: Sample questions
A 360 performance review is a great way to balance accountability and development. Recognize big accomplishments, recognize gaps, and encourage your team to grow.
So where do we start? Research is key.