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When you are tasked with improving the skills of employees across the company, you have to employ the most effective strategies. After all, your work has a huge bearing on employee productivity, and as such, revenue growth.
It also determines whether the company gets to retain and keep attracting top talent. To do the job effectively, you will have to continually measure employees' productivity, identify their training needs, and develop strategic solutions to grow their skills. One of the best ways to do this is utilizing 360 evaluations.
65% of employees want more feedback than they are receiving, and 360 evaluations will give your employees a chance to know the areas they can develop.
These are tools used by managers, peer workers both from similar or different teams, senior leaders, and team leaders to review and assess employees' skills. They are used as an individual development tool for employees throughout the organization.
You can use these evaluations to identify areas of personal development that ultimately help employees improve productivity. You can also use multiple raters, including peers, supervisors, direct reports, and external stakeholders, such as vendors and clients. The employees then receive comprehensive feedback about the actions they should take to improve their work.
360 evaluations should be tailored to meet the particular needs of your organization. They come in 2 different forms, such as:
These 360 evaluations ask for contributors' ratings based on the assessed person's role-related skills.
Depending on your needs, there are three types of 360 evaluations you can take that can lead to your desired results. We built these evaluations to measure the behaviors and characters of your team.
Assess particular skills, knowledge, and abilities that reflect successful leadership in an organization. However, it is essential to note that every leadership position demands unique skill sets, knowledge, and capability.
We can break down these competencies into three further categories:
Competent leaders must have the following skills:
This aspect assesses the zest of individuals in management positions and outlines the required skills for an employee to perform well in assigned roles. Most organizations have a platform through which they identify the skills their employees lack and those that can be enhanced through proper training.
Making employees feel a sense of organizational support, thus improving employee retention and keeping valuable skills within an organization. Managers must have:
Assesses the staff member's productivity and ability to listen attentively, build good work relationships, and bond with others. An individual staff member should account for his performance and contribution to the team results. In addition, it is necessary for them to:
We’ve discussed what 360 evaluations are and how they impact team members individually. Below are some of the ways that 360 evaluations help to grow a company’s revenue.
It is vital to have competent leaders that can drive a company to financial success. Their role is to guide, direct, and assign responsibilities to employees.
Using 360 evaluations can help you identify areas of your leaders’ skill sets that can be developed further, ultimately setting you up for financial success.
Skilled managers know their team and their respective talents and strengths. They know where and when to use these talents to ensure impressive performance to achieve increased sales.
As sales improve, so does the company's revenue. 360 evaluations can improve the performance of managers so they can have a direct impact on your bottom line.
We directly associate the success you have as a company with the quality of employees you have. Using 360 assessments can help you identify areas where your team members can improve, ultimately increasing revenue growth.
Having identified developmental areas, you can offer internal training to improve skills and set your team members up for success.
Knowledge of 360 evaluations will help you create a winning team for your company or organization. However, consider the timing for the best interest of your organization. For the best 360 resources, from software to coaching and feedback, contact TruScore, the ultimate leader in 360 services.