Performance appraisal is considered as the evolution of your employee’s performance in a systematic way. You use it to get an idea about the range of the ability of your organization’s resources for the development and growth in the future. Here are given some objectives of performance appraisal.
- Data maintenance which will help you to make the decision for pay structure, the increment of salary, salary packages and so on.
- To measure the weakness and strength of the resources for placing them according to their strength at the perfect job field.
- To get an idea about the thoughts of your employees for the development of the company in the future.
- To provide feedback related to the performance of the manpower according to a specific time.
- To make analysis and arrangement for the training programs for your employees to promote them
Importance for the application of performance appraisal
Performance appraisal is a great asset to your company. The importance of performance appraisals are as follows:
- Making justified selection list: You will get a clear idea about the weakness and strength of your employees with the help of performance appraisal. The human resources manager of your company also can make a justified selection list using this idea. You can place this list of selection as a sample in future to make the list of selected employees.
- Making compensation: You can chalk out for a quality compensation program on the basis of merit rating using the performance appraisal.
- Making the decision for promotion: Performance appraisal will help you to make the right decision for competent employees. It will also help you to eliminate the inefficient employees in your company.
- Taking decision for training programs: The human resources manager of your company can develop an essential training program using an effective performance appraisal system. As a result of this, your employees will share their interests to get training in different types of train programs joining with their manager.
The definition for 360 degree appraisal
The 360 degree appraisal is the review process of your employees. It is essential to get constructive feedback from your employees on the basis of opinions of managers and colleagues, direct report and the collected anonymous views.
Difference between the 360 appraisals and the traditional appraisal
The traditional appraisal is based on the guideline of the human resources manager in your company and the reviews according to your performance to achieve the goal of your business. It helps to measure the performance of your employees according to your company’s objectives. But, the 360 appraisal helps to get the ideas about the insight using a wide range of sources and also provide the extended views of your abilities. The 360 appraisal measures your performance on daily basis and it is not used to get the idea of whether your employee is fulfilling the target, objectives and basic requirement of the job.
Benefits of using 360 degree appraisal
360 appraisals is a unique way to address a wide range of competencies including an extended feedback level. Here are given some benefits for using 360 appraisals.
- You can measure factors such as communication skills, team-work, and leadership.
- 360 appraisals provide the colleagues the new essential areas to make development.
- The colleagues can observe the things following a separate perspective.
- You can establish a better working relationship. It develops communication to the other organizations and provides encouragement to build open culture widely where receiving and giving structural feedback is a norm.
- 360 appraisals help to build self-awareness and enhance your better behaviour.
- 360 appraisals focus on the procedure as well as the need for making development in your company.
- Anonymous represents the person who may be completely honest to give their feedback.
- 360 appraisals is an essential and powerful driver to make the change for the individuals and the company as a whole.
The working procedure of 360 degree appraisals
The working procedure of 360 appraisals depends on your company and your role in your company. Here are given some structural working procedures of 360 appraisals.
- A group of customers, colleagues, and/or the manager of your company will get a feedback form to fill up that contains rating scale according to the questions.
- After receiving the person will have to complete a self-assessment form before the disclosure of the feedback.
- Making the combination of the results an anonymous report is made including the weakness and strength of the employees in your company.
- You can use the feedback for making a plan for the development of your company.
Sometimes, 360 appraisals are used adding to the traditional appraisals for making the most comprehensive reviews related to your company’s performance.
Who will use 360 degree appraisal?
Basically, 360 appraisals are designed for the companies which are in a leading position and the popularity of the applications of 360 appraisals is increasing to get the reviews from all levels of colleagues. This procedure helps the employees to develop their present role in the business or organization. 360 appraisals also help to develop the ability of the management to measure where they will have to take care of the development of the company. 360 appraisals do not allow non-managers to include an input for a direct report.
Types of questions which are asked within a 360 degree appraisal
The types of questions, which are asked to you and your colleagues, depend on your activity and the quality of your relationship. The questions consist on the basis of rating or Yes/No questions. The questions are made in a simple way so that these can be easily identified avoiding subjectivity.
If you think that 360 degree appraisal is essential for your business or company, you will get various types of agencies which will provide you the service for 360 appraisals. You can choose the agency according to your requirement. The agency will help you to set 360 appraisals in line according to your corporate feel and look which will be matched with your own websites according to your wish. You will have to pay the agency’s charges and they will take care of the technical support, helpdesk, and maintenance.