What is 360-degree Feedback Where multiple raters are involved in evaluating performance, the technique is called 360-degree appraisal. The 360-degree technique is understood as systematic collection of performance data on an individual or group, derived from a number of stake holders- the stakeholders being the immediate supervisor, team members, customers, peers, and it. The 360-degree appraisal provides a broader perspective about an employee’s performance. In addition, the technique facilitates greater self-development of the employees. For one’s development, multi-source feedback is highly useful. It enables an employee to compare his or her perceptions about self with perceptions of others. Besides, the 360-degree appraisal provides formalized communication links between an employee and his or her customers. It makes the employee feel much more accountable to his or her internal or external customers. The technique is particularly helpful in assessing soft skills possessed by employees. By design, the 360-degree appraisal is effective in identifying and measuring interpersonal skills, customer satisfaction, and team-building skills. Implementing 360-degree appraisal system 1. 2. 3. 4. 5. Instrument Issues Administration Issues: Feedback report: Feedback sessions: Follow up activities: Performance Interviews Performance interviews are another step in the appraisal process. Once appraisal has been made of employees, the ratters should discuss and review the performance with the ratee’s so that they will receive feedback about where they stand in the eyes of supervisors. Feedback is necessary to effect improvement in performance, especially when it is inadequate. Specifically, performance interview has three goals: i) To change behavior of employees whose performance does not meet organizational requirements or their own personal goals, (ii) to maintain the behavior of employees who perform in an acceptable manner, and (iii) to recognize superior performance behaviors so that they will be continued? Potential Appraisal Potential appraisal may be defined as a process of determining an employee’s strengths and weaknesses with a view to use this as a predictor of his future performance. This would help determine the promotabilty of an individual to a higher position and help chalk out his career plan. The fundamental difference between reviewing performance and assessing potential is in the criteria used. In reviewing performance, the criterion used is what goals the employee achieved and what skills he or she currently possesses that could be indicators of his or her ability to assume different or more advanced responsibilities. EMPLOYEE BENEFITS EMPLOYEE BENEFITS are available to all employees based in their membership in the organization. The purpose of such benefits and services is to retain people in the organization and not to stimulate them to greater effort and higher performance. These benefits are usually known as “fringe benefits”, & the employer offers these to the employee. The term fringe benefits are as follows – paid vacation, pension, health insurance plan etc. Categories of Benefits There are five categories of services and benefits under the term fringe benefits. Legally Required Payments: - Old age pension, survivor benefits, disability pension and payments made under the Workmen’s Compensation Act. PENSION AND GROUP INSURANCE PAID REST PERIODS, WASTE-UP TIME PAYMENT FOR TIME NOT WORKED FESTIVAL BONUS CLASSIFICATION OF FRINGE BENEFITS Premium Payments: - This is the period of time a worker has worked, and payment is based on daily or weekly. Payment for special duties: - Such as working on grievance redressal procedures and labour contract negotiations. Payments for health & Security benefits: - These include retirement plans, social security payments, Saving plans, Profit sharing plans, Group Life Insurance etc. Payment for time not worked: - Which include payment for sick leave and for time during which an employee is under medical care. Payments for holiday, vacations, call back time, dressing time, portal-to-portal time and wet time. Payment for employee service: - This include Cafeteria subsidies, union credit, house financing etc. Other expenditure: - Like holiday bonus, on educational reimbursements, employee uniforms, work cloths, supper money or meal allowance etc. EMPLOYEE SERVICES In addition to the benefits, organizations also provide a wealth of services that employees find desirable. These services are usually provided by the organization at no cost to employee or at a significant reduction from what might have to be paid without the organization’s support. The employee services include: Eating facilities: - Which include the provision of company restaurants, cafeterias, canteens, lunchrooms etc. Transportation facilities: - Like parking lot and bus services Child Care facilities: - Comprising nurses and day care centers for children Housing Services: - It includes company owned housing projects and subsidies. EMPLOYEE SERVICES Conti. Financial and legal services: - This includes sponsoring of loan funds, credit unions, income tax services, saving plans and group insurance plans. Purchasing Services: - This includes company operated stores and discount on company products and services. Education Services: - Which include sponsorship for off duty courses, educational leave, tuition fee, refunds and scholarship for employees and their children. Medical Services: - Including plant infirmaries, (clinics and hospitals, counseling and referrals to community to social services.) Outplacement Services: - This include, contact with other employers in the area, help in writing up resumes and secretarial services. Flexi time: - The employees are permitted to build up their flexible workday: It is called flexi time because the workers themselves determine their own starting and stopping time. FOR MORE USEFUL EDUCATIONAL PRESENTATIONS AND TECHNOLOGICAL DOCUMENTATIONS LIKE THESE VISIT WWW.THECODEXPERT.COM
"What is 360-degree Feedback"