The Booth Company (TBC), a global assessment company with over 4 decades of experience, specializing in 360 degree feedback and survey customization, marks the fifteenth anniversary of trade marking the term “720 Feedback.” The term “720 Feedback” refers to the concept of a pre-post 360 assessment which obtains multi-rater feedback. 720 Feedback® provides a second assessment that allows participants to compare their results over time. The data from the comparison helps the participants visualize their own developmental progress.
For decades now, organizations both large and small have realized the benefits of 360 Feedback. And as talent management initiatives have become more sophisticated and strategic, 360s have remained an integral piece of the leadership development landscape. Companies recognize just how important it is to assess their employees, helping them to identify strengths and weaknesses that they can leverage or mitigate. “Supporting a pre/post, or 720 Feedback®, initiative not only provides valuable insight on goal progression, but also solidifies a company’s commitment toward employee development, which has shown a positive effect on talent retention rates.”, explains Derek Murphy, CEO of The Booth Company,
When The Booth Company trademarked the term 720 feedback in 1999, nearly 70% of large corporations and government agencies were conducting 360 programs. Now, according to HR Magazine, 90% of large organizations report utilizing 360s, with small to mid-size companies beginning to realize the benefits as well.
“We believe the trend will continue as companies search for ways to outpace their competitors and develop talent through 360 feedback.” Josh Sheets, Director of Operations continues, “Through their commitment to 360 programs and the subsequent 720, successful companies cultivate a culture of learning and continual development.
After 15 years of providing 720 Feedback solutions, statistically validated assessments continue to be at the foundation of TBC’s offerings. Having a psychometrically sound instrument is a critical component of 720 feedback and allows clients to place trust in, and take action upon, the final results. With this anniversary, TBC marks another important milestone in their mission to provide customized and highly-effective 360 assessment solutions.