Get a more holistic overview of your performance from a host of different individuals
1 What are they?
An increasingly used professional development tool, the 360-degree review (or appraisal) involves seeking feedback on your performance from a host of individuals. Factors taken into consideration include not just skills and competencies, but also self-motivation, attitude, and cooperation with others. The idea is to take a more holistic overview so that the opinions of all those whom your work touches are included. The 360-degree approach is also often used as part of succession planning.
2 Who gets a say?
Think about who the ‘stakeholders’ in your performance are. Your manager and their superiors are obvious candidates – as well as your peers. What’s surprising to many is that the views of more junior staff, including those who report to you, will also be considered – as well as the views of colleagues in non-finance departments that you liaise with, or who work with the figures or reports that you produce. Some organisations even talk to external parties, such as clients or suppliers.
3 How does it work?
Don’t worry – the 360-degree review isn’t an open invitation for everyone you have ever upset in the office to exact their revenge. Those who are asked to participate (and if they are your colleagues, they will probably also be subject to the same type of review) should be briefed on how to provide objective and dispassionate feedback. Similarly, a good 360-degree system should incorporate procedures for appropriate and sensitive follow-up and subsequent training. Everyone should win.