Hi, need to submit a 13250 words essay on the topic 360 Degree Performance Appraisal within IKH ZASAG University of Mongolia.
The 360-degree feedback must not be applied only for appraisal, but can also help in the improvement of employees along with the progress of the institute. This will help the employee to understand the feedback and further use it for performance improvement. A 360-degree system should be an ongoing activity, rather than one time one. 360-degree feedback creates a culture, which engages everyone in the development process and helps in building a system to align individual performance with organizational expectations. This leads to improvement in organizational performance, as well as employee development.
In today’s changing and volatile world, organizations are continually looking for ways to improve performance and satisfy the demands of all stakeholders. Achieving this position inevitably involves change, which then becomes the pivotal dynamic for success. An organization’s success depends on the people it employs and whether they adopt innovative changes. They should know their level of current performance and improvements needed in it. This is the area where 360° feedback plays a vital role in organizations. It has the ability to provide structured and in-depth information about current performance and the required performance of an individual in future. The worth of effectual performance appraisal systems, especially360° feedback method, might be related to the overall progress of the firms and its importance is being appreciated by leaders and managers of topical times.
The 360-degree feedback is well reputed as the “multi-rater feedback,” or “multisource feedback,” process. This procedure of obtaining feedback centers on an employee and feedbacks are derived from his surroundings. The people receiving the feedback to sketch their training and development, career objectives of the employees, and to organize a performance development graph often find the results from 360-degree method quite helpful.