360º feedback is a powerful HR Performance Management (HRPM) tool that can be difficult to implement and maintain. Software innovations in HRPM provide software solutions that aim to make 360º feedback much easier to work with. It is important to understand what 360º feedback is and its limitations before choosing a software solution. An effective 360º feedback software solution should be easy to implement, configure, and use. It should also provide user access management and customizable performance management tools. Moreover, 360º feedback software should also preserve the anonymity of individual reviewers while delivering aggregated data in formats that are easy to understand. Finally, an effective software solution should be able to quickly adapt to changing business needs.
What Is a 360º Feedback Software Solution?
The 360º Feedback performance management tool has been in use for decades. It is used to formulate questionnaires or surveys about employee performance. When an employee’s performance is being reviewed, that questionnaire is delivered to the employee’s supervisor and co-workers to collect feedback on how that employee is performing. Before software solutions were available, all of this work was done by hand on paper. It took a tremendous amount of effort to create the questionnaires, distribute and collect them, and aggregate the data. Finally, the data would be analyzed and interpreted then included as part of the employee’s performance review. Virtually all of this process has been automated with software solutions, making work that was labor-intensive and time-consuming simple and easy to complete within a very short period of time. Review cycles can be automated, making it easy to distribute questionnaires via email. Users filling out the questionnaires can simply submit the completed questionnaire to a designated email address, eliminating the need for costly printing and distributing of paper forms. The software automatically collects and aggregates the data, informing managers when all questionnaires are completed. This eliminates the time and effort required to manually go through each questionnaire, transcribing data to a spreadsheet.
Big Data, machine learning, and AI are driving a digital transformation that is disrupting business as usual. To maintain a competitive edge, businesses need to be able to quickly update and re-define business goals. Traditional performance tools are difficult to adapt to changes in business goals. Today’s performance management tools must be able to quickly adapt, re-defining and aligning employee goals with business goals. 360º feedback software solutions offer this flexibility, providing tools and features that allow HR managers to quickly align employee goals with changing business needs.