360-degree feedback can be a powerful tool when it provides the impetus for an employee’s developmental process. It becomes a burden when organizations fail to implement action plans based on evaluation results. Studies have shown that organizations spend significant time and money on conducting 360s, and thus have little incentive to funnel additional resources into follow-up activities. Consequently, multi-rater feedback is a privilege given only to employees deemed ‘high potential’.
Technology is the key to unlocking the power of 360s. In collaboration with Stanford, UCLA, and The Wharton School of Business, we’ve developed a cloud-based assessment platform that streamlines the entire process, from creating questions and competencies, to launching the forms, to gathering the data in real time and designing reports. This has revolutionized the way our clients use 360 feedback to develop and manage the talent that contributes to their organization’s objectives.
First, it gives development programs the opportunity to expand vertically to all levels of an organization. One of our clients is in the process of administering over 30,000 assessments to its employees. One of the largest companies in the multinational banking services industry aims to invite all 70,000 of its employees. Cloud-based technology, with an intuitive user interface, a free form report editor, and total control over creating and launching the form, all at an extremely low price-point, gives organizations the leverage to conduct 360s on a massive scale.
Second, people are also considering new ways to change 360s into a 180, or a round-robin, or a multi-rater assessment with various teams acting as participants. Such flexibility within our system generates new ways to approach 360s that are unique to the organization’s structure and behavior.
In short, today’s technology taps into the true potential of 360 evaluations. Organizations can make such feedback available to all of its employees, not just the ones at the top of the totem pole. Customized questions and competency libraries provide tailored forms and more accurate results. As 360s processes become more efficient and cost effective, organizations gain greater flexibility in how they turn feedback into real development, on both the individual and collective level.
NOTE - This webcast does not qualify for HRCI credits
Who Should Participate
All are welcome, but specifically: Leadership Development, Organizational Development/Effectiveness, Talent Management, Employee/Learning Development, HR Generalists
What You Will Learn
The challenges and pitfalls in conducting or administering traditional 360-degree feedback evaluations; Unique uses for 360 feedback; And an overview of the Qualtrics 360 assessment platform and some of its customizable features.