Building Strong Leadership for the Future
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What is 360 degree feedback?
Unlike a performance review which provides one dimension of feedback (yours), a 360 takes into account multiple raters and seeks feedback from the boss, peers and subordinates. The value of this tool lies in its ability to present information to the leader that is being evaluated in an anonymous and objective manner. The information gathered from the "rater" is confidential, known only to the company that is conducting the assessment and is then compiled to present a full and well rounded perspective of the person's leadership skills from the top of the organization on down. Each group provides a different perspective which may be conflicting at times. For example, the boss may see the leader as someone that is good at delegating, but the subordinates may have a different perspective of that same competency. Why is that? The 360 will get to the bottom of this dilemma!
Where to start?
You start by identifying a company that has the best leadership 360 degree feedback tool for your organization, one that measures competencies that are important to you and your business. Ideally, you want to focus on the leader's ability to make decisions, interact with others and of course, lead the team. All of these competencies are important in a well-rounded and effective leader.
What is the process?
Multiple raters are selected from the boss, subordinate and peer groups to participate in the assessment. The raters are asked to evaluate the participant based on criteria and generally are asked to provide open-ended comments as well. The information is then gathered and put into a report that provides feedback from the three respective groups. You could add to the group by including customers, board members, and others that have frequent interaction with the leader. When the data is compiled, the reports are generated and feedback is given to the participant. Action plans can be created to leverage strengths and improve upon areas for development.
The value to you as a business owner is two-fold:
1.) You now know where you have strengths and development opportunities within your leadership team. The mystery is over!
2.) You have a roadmap to guide you in your efforts to coach and strengthen your team to leadership excellence.
In future articles, I will focus on competencies that are vital to be successful as a leader in your organization.
