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What Makes a 360-Degree Review Successful?
- Jack Zenger
- Joseph Folkman
It has to start with buy-in from the top.
Companies have continued to use the 360-degree process throughout the years because it works. But for it to be worthwhile, the process has to be implemented in a way that engages leaders so they are compelled and motivated to become better at their job. When they learn through the feedback whether others’ perceptions of them are different than their own, identify a weakness to fix or a strength to build, and understand how their leadership is affecting the productivity and engagement of their direct reports, they can use – and act on – that information, to improve themselves and the company in the process.
Too many companies don’t take the 360-degree feedback process seriously enough. Often it goes like this: After shopping around and deciding on a 360-degree feedback instrument, talent professionals administer it to the colleagues of each participant. After aggregating the data, those same professionals send a summary report to the leader, who then reads through the report with some interest and puts it away. Sometimes, it’s never discussed again.
The outcome? Little, if anything, changes. The mindset of the leaders who received the feedback report isn’t altered. They don’t change their behavior toward others. In most cases, this process doesn’t do any damage (other than wasting time and money), but it’s a missed opportunity — for the leader and the company.
Organizations that take the process more seriously , of course, get much better results. The 360-degree feedback instrument itself may be exactly the same, but the way it’s administered is completely different. This approach stands in contrast to what we’ve described above — and is what we strongly recommend. Here are some of the key differences:
- The leader helps choose who among their colleagues should respond to the survey.
- The leader personally communicates with those respondents, asking them to provide their candid observations.
- The report is presented to the leader, either in a group setting (if multiple people are taking the instrument at the same time) or in a one-on-one coaching conversation.
- The leader is provided with context and guidance to understand the data.
- The leader also receives a customized set of developmental recommendations, mapped to the company’s leadership competencies, to help them create a personal development plan.
- There is follow-up from the talent professionals to ensure accountability.
There are many reasons to follow a process that looks more like this one. In our 30 combined years of helping organizations and leaders implement 360-degree feedback instruments, we’ve seen the following benefits of using this process.
Expanded self-awareness.
This is one of the most important outcomes of any feedback process. People with little self-awareness are often puzzled by the behavior of others toward them. They might wonder, “Why do people not include me in their casual conversations?” “Why do I end up in heated arguments?” “Why was I not chosen to lead this project? I know more than the person they selected.” When a 360-assessment is carried out as described above, the leader is able to compare their self-ratings to the ratings from others. Having ratings from multiple people (we recommend at least a dozen) provides greater evidence that this is much more than just one person’s opinion. Combined with accountability, this evidence serves as a strong impetus to change.
In our experience, leaders are sometimes pleasantly surprised by the differences between their own opinions of themselves and the observations of others. There are usually a few pieces of feedback that are confusing and cause the leader to question, “Why would someone think that?” All of this is part of the expansion of their self-awareness , as they learn more about their strengths and weaknesses . Their world makes more sense.
Reiteration of important messages.
Leaders who go through a serious 360-degree feedback process will often reflect on a comment or piece of feedback and say something to the effect of, “I’ve heard that before. My (husband/wife/partner/roommate) has told me that, but I didn’t think it was that important.” But now, when a dozen or more people collectively observe that the leader isn’t a good listener, for example, the message is louder and clearer. The 360-degree feedback process underscores the seriousness and credibility of the feedback.
The anonymity of process means that the feedback was given by colleagues with the understanding that they would be confidential. The result is far greater honesty and candor. And, we’re happy to say that after decades of conducting and reviewing thousands of 360-degree feedback reports, we almost never see messages that are intentionally barbed or mean-spirited.
Increased likelihood of change .
Improving your leadership effectiveness requires behavior change. A 360-feedback process, when done right, greatly increases the chances that change will occur. When leaders find out that others see them differently than they intend or want to be seen, they have a simple choice. Either they redefine how they see themselves, or they change their behavior. For example, if others tell me that I’m rigid and don’t listen to a different viewpoint, the next time I’m in a discussion about a controversial topic, I’m more inclined to catch myself and listen. And if I continue to argue and hold tight to my views, I’ll be faced with the realization that the others’ perceptions of me were correct.
There’s also an increased likelihood of change if several leaders go through this process together. Social reinforcement makes it easier for everyone involved to be more receptive to new ideas and feedback. This is the same reason that working with a coach can help a leader to change ; the coach holds leaders accountable for their commitments to change their behavior, and follows up to see if they did.
Our research has shown that there are specific behaviors that are highly correlated with any competency a person is seeking to improve. For example, our data reveals that people who receive high scores on strategic thinking are far more prone to do the following:
- Visit their customers
- Emphasize innovative solutions
- Analyze trends
- Communicate with stories, illustrations, and parables
- Establish stretch goals
Correlation, we all know, does not prove causation ; but knowing specific behaviors that go hand-in-hand with a competency you want to improve provides useful clues about non-obvious ways to become a better leader.
Links between business outcomes and leadership behavior.
Another motivation for a leader to change their behavior is seeing the impact on measurable outcomes, such as employee engagement and effort. When they understand that altering the way they lead can result in better performance, they’re much more likely to follow through.
For example, the best 360-degree feedback assessments measure the current level of engagement and commitment of the leader’s direct reports. When the connection between the leaders’ behavior and an important metric like engagement is made visible, they better comprehend the consequences of their actions.
We know from hundreds of studies that as leadership effectiveness increases, so does the retention of valued employees, customer satisfaction, profitability, productivity, and employee engagement. The graph below shows the assessment results from 97,617 leaders. Each leader was rated by their direct reports on 49 behaviors that differentiate poor leaders from great ones. The horizontal axis is the average score on these behaviors — an overall leadership effectiveness index. The vertical axis shows employee engagement (e.g., satisfaction and commitment) for the leader’s direct reports. Note that for every decile of improvement in overall leadership effectiveness, engagement increases by more than five percentile points.
Performance improvement beyond a single leader.
When a leader improves their effectiveness, it doesn’t just benefit them or their direct reports. Other people throughout the organization benefit, too. We’ve seen that as one leader improves others are motivated to do the same, creating a ripple effect that lasts over time.
In fact, all levels of leadership in an organization are influenced by the collective capability of the top team. We’ve seen in our research that if the top team scores just above average in overall leadership effectiveness, each successive layer below them will have lower scores. In contrast, if the top team has aggregate scores at the 80 th percentile, it creates an “updraft” in the organization, and scores are higher at every level. This, of course, means that investing in leadership development at the top can pay big dividends. What better influence can a senior team have on a company than to make clear that the top team is collectively working on becoming more effective in their roles?
Companies have continued to use the 360-degree process throughout the years because it works. But for it to have the outcomes we’ve outlined above, it has to be implemented in a way that engages leaders in the process so they are compelled and motivated to become better leaders. When leaders learn through feedback whether others’ perceptions of them are different than their own, identify a weakness to fix or a strength to build, and understand if their leadership is affecting the productivity and engagement of their direct reports, they can use — and act on — that information, improving themselves and the company in the process.
- Jack Zenger is the CEO of Zenger/Folkman, a leadership development consultancy. He is a coauthor of the October 2011 HBR article “ Making Yourself Indispensable ” and the book The New Extraordinary Leader: Turning Good Managers into Great Leaders (McGraw Hill, 2019). Connect with Jack on LinkedIn .
- Joseph Folkman is the president of Zenger/Folkman, a leadership development consultancy. He is a coauthor of the October 2011 HBR article “ Making Yourself Indispensable ” and the book The Trifecta of Trust: The Proven Formula for Building and Restoring Trust (River Grove, 2022). Connect with Joe on LinkedIn .
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What Is 360-Degree Feedback?
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- What Is 360 Feedback?
Pros and Cons of 360-Degree Feedback
Frequently asked questions (faqs).
Image by Theresa Chiechi é The Balance 2019
360-degree feedback is a method of employee review that provides each employee the opportunity to receive performance feedback from their supervisor or manager and four to eight peers, reporting staff members, coworkers, and, in some cases, customers.
Key Takeaways
- Unlike standard feedback from a single source, 360-degree feedback takes in comments from peers and reporting staff members in addition to supervisors and managers.
- This strategy helps workers understand their strengths and weaknesses from a variety of perspectives.
- The advantages of 360-degree feedback include drawing on many different sources, strengthening teamwork, and uncovering procedural issues that might otherwise go unnoticed.
How 360-Degree Feedback Works
Successful organizations strive to evaluate and guide their employees toward constant improvement, but a standard performance review system is often found wanting. 360-degree feedback is a method and a tool that provides each employee the opportunity to receive performance feedback from his or her supervisor or manager and four to eight peers, reporting staff members, coworkers, and customers. Most 360-degree feedback tools are also responded to by each individual in a self-assessment.
Organizations can do a poor job of introducing and using this type of multi-rater feedback process. But, it is possible, with the right steps, to do a good job of introducing and maximizing the value of 360-degree feedback . This matters because nothing raises hackles as fiercely as a change in performance feedback methods, especially when they may affect decisions about an employee's compensation.
360-degree feedback allows each individual to understand how his effectiveness as an employee, coworker, or staff member is viewed by others. The most effective 360-degree feedback processes provide feedback that is based on behaviors that other employees can see.
The feedback provides insight into the skills and behaviors desired in the organization to accomplish the mission, vision, and goals and live the values . The feedback is firmly planted in behaviors needed to exceed customer expectations.
People who are chosen as raters or feedback providers are often selected in a shared process by both the organization and the employee. These are people who generally interact routinely with the person who is receiving feedback .
Examples of 360-Degree Feedback
Feedback provided for this review process can be as detailed or brief as the person giving it chooses to be. For example, a manager may give a detailed breakdown of goals they had discussed with the employee, the progress toward those goals, and the way the employee dealt with unexpected challenges along the way. A peer review might be much more basic, such as a note about what it's like to work with them. For example, a coworker could say something like "this worker is friendly and always completes their portion of the project by the deadline."
Provides feedback to employees from a variety of sources
Develops and strengthens teamwork and accountability
Uncovers procedural issues that can hinder employee growth
Reveals specific career development areas
Reduces rater bias and discrimination tendencies
Offers constructive feedback to improve employee outputs
Supplies insight on training needs
Serves as only part of overall performance measurement system
Causes organizational issues if implemented in hasty or incomplete fashion
Can fail to add value if not effectively woven into existing performance plans
Prevents recipients from getting more information because the process is anonymous
Focuses on employee weaknesses and shortcomings instead of strengths
Provides feedback from inexperienced raters, and groups can "game" the process
Requires large degree of data collection and processing in some cases
Pros Explained
360-degree feedback has many positive aspects and many proponents.
According to Jack Zenger, a highly-regarded global expert on organizational behavior, he has come to recognize "...the value of 360 feedback as a central part of leadership development programs. It’s a practical way to get a large group of leaders in an organization to be comfortable with receiving feedback from direct reports, peers, bosses and other groups. Once leaders begin to see the huge value to be gained, in fact, we see them add other groups to their raters such as suppliers, customers, or those two levels below them in the organization."
And later, Zenger adds: "More than 85% of all the Fortune 500 companies use the 360-degree feedback process as a cornerstone of their overall leadership development process. If you are not a current user, we encourage you to take a fresh look."
Organizations that are happy with the 360-degree feedback component of their performance management systems identify these positive features of the process that manifest in a well-managed, well-integrated 360-degree feedback process.
- Improved feedback from more sources : This method provides well-rounded feedback from peers, reporting staff, coworkers, and managers and can be a definite improvement over feedback from just a single individual. 360 feedback can also save managers time in that they can spend less energy providing feedback as more people participate in the process. Coworker perception is important and the process helps people understand how other employees view their work.
- Team development : This feedback approach helps team members learn to work more effectively together. (Teams know more about how team members are performing than their manager.) Multi-rater feedback makes team members more accountable to each other as they share the knowledge that they will provide input on each member’s performance. A well-planned process can improve communication and team development.
- Personal and organizational performance development : 360-degree feedback is one of the best methods for understanding personal and organizational developmental needs in your organization. You may discover what keeps employees from working successfully together and how your organization's policies, procedures, and approaches affect employee success. In many organizations that use 360-degree feedback, the focus has switched to identifying strengths. That makes sense for employee performance development.
- Responsibility for career development : For many reasons, organizations are no longer responsible for developing the careers of their employees—if they ever were. While the bulk of the responsibility falls on the employee, employers are responsible for providing an environment in which employees are encouraged and supported in their growth and development needs. Multi-rater feedback can provide excellent information to an individual about what he or she needs to do to enhance their career. Additionally, many employees feel 360-degree feedback is more accurate, more reflective of their performance, and more validating than feedback from a supervisor alone who rarely sees them working. This makes the information more useful for both career and personal development.
- Reduced discrimination risk : When feedback comes from a number of individuals in various job functions, the possibility of discrimination because of race, age, gender, and so forth is reduced. The "horns and halo" effect, in which a supervisor rates performance based on his or her most recent interactions with the employee, is also minimized.
- Improved customer service : Each person receives valuable feedback about the quality of their product or services, especially in feedback processes that involve the internal or external customer. This feedback should enable the individual to improve the quality, reliability, promptness, and comprehensiveness of these products and services they supply to their customer.
- Training needs assessment : 360-degree feedback provides comprehensive information about organization training needs and thus allows planning for classes, online learning, cross-functional responsibilities, and cross-training.
A 360-degree feedback system does have a good side. However, 360-degree feedback also has a bad side—even an ugly side.
Cons Explained
For every positive point made about 360-degree feedback systems, detractors can offer the downside. The downside is important because it gives you a road map of what to avoid when you implement a 360-degree feedback process.
The following are potential problems with 360-degree feedback processes and a recommended solution for each one.
- Exceptional expectations for the process : 360-degree feedback is not the same as a performance management system. It is merely a part of the feedback and development that a performance management system offers within an organization. Additionally, proponents of the system may lead participants to expect too much from this feedback system in their efforts to obtain organizational support for its implementation. Make sure that the 360 feedback is integrated into a complete performance management system and not used as a stand-alone venture.
- Design process downfalls : Often, a 360-degree feedback process arrives as a recommendation from the HR department or is shepherded in by a senior leader who learned about the process at a seminar or in a book. Just as an organization implements any planned change, the implementation of360-degree feedback should follow effective change management guidelines. A cross-section of the people who will have to live with and utilize the process should explore and develop the process for your organization.
- Failure to connect the process : For a 360 feedback process to work, it must be connected with the overall strategic aims of your organization. If you have identified competencies or have comprehensive job descriptions, give people feedback on their performance of the expected competencies and job duties. The system will fail if it is an add-on rather than a supporter of your organization’s fundamental direction and requirements. It must function as a measure of the accomplishment of your organization’s big and long-term picture.
- Insufficient information : Since 360-degree feedback processes are currently usually anonymous, people receiving feedback have no recourse if they want to further understand the feedback. They have no one to ask for clarification about unclear comments or for more information about particular ratings and their basis. Thus, developing 360 process coaches is important. Supervisors, HR staff people, interested managers, and others are taught to assist people to understand their feedback and trained to help people develop action plans based on the feedback.
- Focus on negatives and weaknesses : At least one book, " First Break All the Rules: What The World's Greatest Managers Do Differently ," advises that great managers focus on employee strengths, not weaknesses. The authors said, "People don't change that much. Don't waste time trying to put in what was left out. Try to draw out what was left in. That is hard enough." These are apt words when you consider a 360-degree feedback methodology. Focus on strengths for best success.
- Rater inexperience and ineffectiveness : In addition to the insufficient training organizations provide both people receiving feedback and people providing feedback, there are numerous ways raters go wrong. They may inflate ratings to make an employee look good. They may deflate ratings to make an individual look bad. They may informally band together to make the system artificially inflate everyone’s performance. Checks and balances must exist to prevent these pitfalls as well as training for the people who are providing the ratings.
- Overload on paperwork and data entry : In traditional 360 evaluations, multi-rater feedback upped the sheer number of people participating in the process and the subsequent time invested. Fortunately, most multi-rater feedback systems now have online entry and reporting systems. This has almost eliminated this former downside.
360-degree feedback is a positive addition to your performance management system when implemented with care and training to enable people to better serve customers and develop their own careers.
However, if you approach it haphazardly just because everyone else is using it, 360 feedback could create a disaster requiring months and possibly years for you to recover.
There are negatives with the 360-degree feedback processes, but with any performance feedback process, it can increase positive, powerful problem solving and provide you with a profoundly supportive, organization-affirming method for promoting employee growth and development.
However, in the worst case, it saps morale, destroys motivation, and enables disenfranchised employees to go for the jugular or plot revenge scenarios against people who rated their performance less than perfect.
What is the meaning of 360-degree feedback?
Feedback becomes "360-degree feedback" when it takes in comments from many different sources. Traditional feedback in the workspace comes from managers and supervisors, but 360-degree feedback also takes into account reviews from peers and employees who answer to the person being reviewed.
What is an example of 360-degree feedback?
Any feedback can be an example of 360-degree feedback, but workplaces will specify the types of comments they're seeking from employees. These comments can be as simple as "this worker has shown up late a few times this quarter," or they can be much more detailed.
What is the importance of 360-degree feedback?
The purpose of the 360-degree feedback is to assist each individual to understand their strengths and weaknesses and to contribute insights into aspects of their work that need professional development.
Forbes. " How Effective Are Your 360-Degree Feedback Assessments? "
Gallup. " First, Break All The Rules: What the World's Greatest Managers Do Differently ." Gallup Press, 2016.
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360-degree Feedback
What is a 360-degree analysis.
360-degree investigation is everlastingly changing the manners in which organizations assess employees, and online study apparatuses are rapidly turning into THE best method to direct these incredible examinations on employees, supervisors, other staff and even outer clients.
It's never been anything but difficult to be the chief—particularly with regards to furnishing employees with authentic execution surveys. Luckily, the developing Human Resources appropriation of 360-degree Analysis, alongside new online study innovations, has changed all that.
With the privilege of online overview arrangements supplier, you can give these amazing new apparatuses something to do for your organization today.
With 360-degree Analysis which you may see alluded to as 360 degree feedback or 360-degree Reviews is a totally different method for leading employee execution audits. Rather than letting every employee's chief fill in as the sole "judge" at audit time, this new, quickly developing HR procedure takes, even more, a "jury" approach.
Sets of companions the individuals who manage employees on a day by day or even hourly premise are approached to give directors their points of view. It can likewise incorporate every employee's self-appraisal, and now and again even outer sources, for example, clients, sellers, providers, and so forth.
360-degree Analysis offers associations a full range of operational advantages:
- Chiefs can share the employee-audit task trouble, saving time for other squeezing departmental issues.
- Employees really believe 360-degree surveys to be progressively objective. Singular criticism can be utilized to design employees' preparation and self-awareness.
- Total input can be utilized for groundbreaking key arranging by office heads and supervisory crews.
- Responsibility is uplifted; obviously, employees realize that their communications with anybody (and not simply chiefs) can influence future execution audits.
1. Expands mindfulness
One of the most significant advantages to a worker accepting 360-degree feedback is expanded mindfulness. Members are given a total report that incorporates their qualities and regions for development.
This gives a representative understanding of their conduct and into how they are seen by others in the association. A more profound comprehension is arrived at when the individual contrasts their self-appraisal and those of the raters.
2. Adjusted view
360 feedback audits are valuable to the representative as they give a balanced and adjusted perspective on their aptitudes and practices. Right now, isn't simply given from the person's boss however from an assortment of individuals in the association. This gives a reasonable and progressively exact image of the worker's shown conduct.
3. Use qualities
360-degree surveys are vital to recognizing worker qualities. Uncovering qualities is significant for affirmation and furthermore for individual improvement. Distinguishing quality in a specific competency takes into consideration the making of a custom fitted improvement and preparing plan.
A representative may display quality in a zone and when given extra improvement will exceed expectations. Creating qualities is significant for a worker's professional development and for the organization's adequacy.
4. Reveals blindspots
As 360-degree feedback gives multi-rater feedback, it permits the person to reveal blindspots in their conduct. This empowers the representative to comprehend the practices that they are displaying, however never notice themselves.
Revealing blindspots is significant for constant worker improvement. Featuring blindspots permits a person to concentrate on learning and improvement needs that are appropriate to those ignored practices.
5. Improvement of aptitudes
The most significant part of 360-degree audits is that they give people a beginning stage for the improvement of new aptitudes and practices. This remembers working for current qualities and growing new abilities. The 360-degree procedure gives people responsibility for claim improvement through the making of tweaked advancement plans.
This supports singular responsibility and gives representatives power over their professional ways. Playing the focal job in their own improvement likewise builds the commitment of workers in the feedback procedure.
6. Empowers self-improvement
It is far-fetched that pioneers have arrived at their situations in an association by carrying on arbitrarily. Pioneers ordinarily have a characteristic component of drive and aspiration or they wouldn't be the place they are.
This prompts some degree of mindfulness with respect to their qualities, shortcomings, and proper administration conduct. Be that as it may, fair and solid feedback process is important to test one's recognitions, perceive recently neglected qualities, and uncover perceptual vulnerable sides.
By giving simple, absorbable territories to inspect, pioneers will normally get a handle on onto them so as to proceed with their improvement.
Self-improvement transforms successful supporters into viable supervisors. It's the manner by which successful directors become viable officials, and how viable administrators become compelling board individuals.
Businesses who give self-improvement openings hold ability more than bosses who leave representatives to their own gadgets. A 360-degree initiative evaluation gives vital parts of self-awareness.
7. Expands responsibility
The foe of responsibility is uncertainty. The more dubious something is, the harder it becomes to consider individuals dependable. So also, it's the manner by which collaborators wind up talking past one another. Something basic like, "I'll deal with it" turns into a semantic clash of what "fare thee well" and "it" even methods.
You can't advise somebody to "be a superior chief" or "exhibit organization esteems" without giving particulars to what that implies. This is actually what 360-degree feedback overviews do.
They explain practices which at that point permit you to make an authentic judgment on whether an individual exhibited the conduct or not. Which, thus, permits you to consider somebody responsible for those practices. In any case, the best part is, you can take a ton of the weight off of your shoulders.
On the off chance that you made the practices sufficiently understood, the individual will really have the option to consider his or herself capable.
8. Improves execution
All the past visual cues lead to this last, and seemingly generally significant, the advantage of 360-degree feedback, improving execution. 360-degree feedback is one of the most incredible assets in your munitions stockpile.
It encourages you to improve connections, increment responsibility, and give lucidity on the best way to improve execution. It is anything but a fix-all, and numerous associations turn them out erroneously which can really exacerbate the situation off than previously.
Our inside research shows that a decent 360-degree feedback program is identified with expanded representative commitment and improved execution. Progressed nicely, 360-degree feedback evaluations can become something workers anticipate rather than fear.
At the point when I present on the advantages of 360-degree feedback, workers come up a short time later imploring me to get their pioneers ready. In the event that you outline it right, you find a good pace the saint! You've recently given individuals this straightforward device for sensational development and improvement.
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- Experience Management
- Employee Experience
- 360 Development
- What is 360 Development?
- Who can give an employee 360-degree feedback?
- 6 steps to implementing a 360 Development program
- Pros and cons of 360 Development
- How to get the most out of your 360 Development program
Your ultimate guide to 360 Development
13 min read 360 Development, or 360-degree feedback, is a way for managers to get a fuller picture of someone’s strengths and weaknesses. Instead of a two-way conversation, where the manager reviews the employee, this helps widen the lens and reduce manager bias.
What is 360 degree feedback?
360 degree feedback (also known as multi-source or multi rater feedback assessment) is a way for individuals to understand their personal strengths and weaknesses, using the constructive feedback of others who work with them the most. It’s a development tool for individual leaders and employees – the combined insights from the collective feedback process is then used to inform an individual’s development plan.
Here, we will help you to understand more about what 360 degree feedback is, when you should use it, and the steps you need to take to implement an effective program that will help develop your people into more effective leaders. And you can download our ebook, Best Practices: 360 Feedback , to find out even more.
Who can give an employee 360 degree feedback?
360 Development is multi rater feedback. This means it should be given by those colleagues who work directly with the person who’s receiving the feedback. This can include supervisors, colleagues, direct reports, customers, and vendors.
It’s also best practice to choose a reviewer who has worked with the subject for six months or more. They will have a more consistent experience of the employee’s behaviour, by working with them, and seeing them experience various scenarios at work.
Assessments vary according to an employee’s placement within the organisation. Some 360 degree feedback surveys target HiPOs (high-potential employees) or C-level leadership and executives, whereas others may target the grassroots level (e.g. field employees), managers or frontline leaders, or mid-level management (e.g. directors or VPs).
Hub article: Find out how to develop great leaders with 360-degree feedback
Why you should only use 360 degree feedback for development
Many clients ask us about the ideal use case for 360 degree feedback. At Qualtrics, we believe that 360 should never be used to assess employee performance. We feel that feedback is a gift that helps your people to develop their skills and pinpoint areas of improvement, as well as encouragement to keep on doing the things that they may not have realised made a positive impact. It is a development tool, not a performance management tool.
Feedback must be:
- seen as an investment in an employee through feedback from peers, direct reports, managers, leaders, and customers
- an authentic review (not a political tool) for developing your employees and not evaluating them
- distributed via an anonymous online feedback form
Feedback must NOT be:
- used for performance appraisal
- a tool that determines employees’ pay, performance, or promotion.
360 degree feedback vs. performance reviews
There is still a place for performance reviews in the workplace. Where 360 degree feedback is a tool for development , performance appraisals are tools for reward, and they can sit alongside each other quite comfortably. Here are the main differences between them:
The pros and cons of 360 degree feedback
When done effectively, the benefits of a 360 include:.
- Increased employee self-awareness
- A balanced view of the organisation as well as the broader growth and development strategy and expectations
- Identifying strengths and weakness in employee skill sets in order to build on or improve upon them
- Building a culture of feedback that allows for open communication
- Ensuring successful succession planning;
- Generating an optimal flow of identifying training opportunities
When done poorly, some of the downsides of 360 degree feedback include:
- Fear of retribution or anxiety over poor working relationships in the future
- People feeling overburdened by the workload involved
- Heavy costs of getting consultants to facilitate the process
- Lack of follow-up leading to apathy around the effectiveness of the process
7 steps for designing an effective 360 degree feedback review program
Qualtrics 360 Development helps you develop all levels of talent across your organisation to close talent gaps and accelerate organisational performance.
Following this seven-step framework, you will be able to successfully deliver an actionable 360 development program that empowers your employees to quickly identify and close their talent gaps so they can become better leaders and drive greater business impact.
Step 1. Set clear goals
It’s critically important to identify clear goals when starting a 360 assessment program for leaders, managers, or individual contributors. As mentioned above, we strongly recommend that a 360 assessment be utilised purely for developmental purposes, not performance reviews.
Here’s why: When feedback is tied to performance rating, pay, or promotion, it can negatively affect the fidelity of responses from raters or sometimes be viewed as a political tool. The reason for this is often the scarcity of promotion opportunities and rewards in organisations. Peer feuds can be created by feedback mechanisms and a phenomenon known as “sandbagging” can take over where self-interests trump the investment in developing others.
However, when the purpose of a 360 program is purely developmental, such conflicts of interest can be avoided.
Step 2. Train raters
Before getting started with 360 assessments , we recommend that you provide adequate training for anyone who will be involved in the rating process. Proper training ensures consistency in how feedback is provided.
When raters are trained to operate from a standpoint of providing feedback that will positively impact a person’s growth, the exercise can create positive momentum for engagement , productivity, and better, more honest relationships with colleagues, leaders, and direct reports.
Step 3. Focus on natural strengths
We also recommend a strengths-based approach to development where the primary focus is on an individual’s natural strengths rather than areas that do not come most naturally. Focusing coaching on only developmental areas will give only incremental results while focusing on people’s natural talents can provide exponential growth.
Step 4. Involve managers and leaders
Wherever possible in the process, involve managers and leaders to convey clearly what is being asked of their teams. Encourage them to spend time with each of their employees through both formal and informal check-ins.
Likewise, managers must be supported and informed in advance about how to communicate the feedback results by specifically focusing on desired behaviours on the job. It’s also important to coach them on setting behavioural goals for their team members while setting up the program.
Step 5. Create buy-in and trust in the 360 development program
It will be critical to engage senior leader champions for a successful 360 development program . Take the time to educate and reiterate the importance of feedback and how it helps to address future skill needs of the organisation as well as provide development to employees.
Development is considered one of the top benefits provided by employers. Stress clarity of roles and hold all stakeholders accountable for their roles (Subjects, Managers, Evaluators) while entailing what is expected of each of them.
Step 6. Know what to ask and how to ask it
Now that you’ve laid the groundwork, it’s time to start designing your 360 feedback program. Ideally, your 360 assessments should not exceed 30 to 40 total items to avoid survey fatigue. Keep in mind that a rater could be providing feedback to multiple employees.
Also note that no more than 8-10 competencies should be included in the assessment. This helps employees understand the most critical competencies to their success in the role.
Learn more about how our new 360 Development framework exemplifies this approach here.
Here are examples of 360 competencies that you might want to include in your assessments:
As for rating scales, we encourage you to use frequency scales (Rarely > All the time) instead of “agree to disagree” scales. This will help evaluators focus on the consistency of important behaviours. If you are using open text items, phrase them in a way that it leads direct evaluators to identify concrete examples of demonstrated behaviours or provide actionable feedback for improvement .
Here are some other helpful tips for navigating the right items to ask about in your 360 assessment.
Step 7. Personalise the 360 degree feedback program to your organisation
One of the biggest advantages of using our 360 Development solution is that you can design a program by and for your organisation. You can use your own competency model, an external consulting model, or a hybrid of the two. The 360 Development solution affords the flexibility to ask exactly what is required for the organisation.
How to get the most out of your 360 degree feedback
Consider the future.
What are some of the key cognitive and behavioural skills that will become indispensable to the organisation in the future? If clients identify some critical skills for the future, through their 360 degree feedback programs, they can not only build a pipeline of leaders and champions who can pave the way forward but also identify where learning and development initiatives should be focused using our organisational dashboards.
Scale the effort
Every employee wants investment. In fact, professional development is considered the top benefit when choosing an organisation. It is important to make development accessible to people across the organisation and ensure that every employee’s career is nurtured in a personalised manner. Scaling the assessment can also ensure that our clients can scale development by using organisational insights to see where the biggest gaps and strengths exist in the workforce.
Keep it confidential
If employees believe their responses won’t be kept confidential, this can lead to issues related to honesty in giving feedback, increased fear of retribution, negative experiences, and/or organisational culture decline. Anonymous feedback is the bedrock of your 360 program.
Ensure that confidentiality is built in, maintained, and clearly communicated. Raters provide more useful feedback when they know they cannot be identified.
Carefully consider costs
This doesn’t just mean the monetary costs, but time commitment for your people too. Make sure that there are parameters around your process. This should include the length of 360 assessment, and number of raters.
Check out how you can use 360-feedback to develop your people
Don’t just listen, act
It’s crucial that 360 degree feedback is actioned. An employee needs to be given resources to help them if they’re given negative feedback in a particular area.
A lack of follow-up around what happens after going through feedback means that the process becomes pointless. It will also damage future attempts at carrying out effective 360s as employees will be apathetic about how useful it’ll be.
Make sure that you can provide the resources needed in order to help support them if needed.
Our 360 degree feedback development tool
360 Development by Qualtrics is an ideal solution for human resources in your organisation to better support and develop your employees. It will give you the insights you need to drive career development, personal development, enhance employee performance, productivity, and engagement.
Our 360-degree feedback tool helps you to:
- automate the process of multi rater reviews with faster, simpler anonymous feedback
- empower managers to hold more actionable conversations based on trends and analysis from 360 degree feedback data
- deliver individualised reports to employees and protect raters’ anonymity with built-in confidentiality features
- connect 360 Development insights to other solutions within the Qualtrics EmployeeXM platform to take action on the whole employee experience
- identify development gaps across your organisation and track success outcomes over time
Develop your people for the future with our 360 Development solution
Related resources
Employee Development
Leadership Development Program 17 min read
Career pathing 12 min read, leadership trust 9 min read, performance review template 10 min read, employee well-being 14 min read, organisational core values 13 min read.
360 Feedback
360 Degree Review Process 14 min read
Request demo.
Ready to learn more about Qualtrics?
[email protected]
214-257-8909
Gather Employee Feedback Using a 360-Degree Review
360 degree analysis has forever changed the way companies evaluate employees, and online survey tools are easily the most effective way to conduct these powerful reviews.
It’s never been easy to be the boss—especially when it comes to providing employees with official performance reviews. Fortunately, the growing HR adoption of 360° Analysis, along with new online survey technologies, has changed all that. With the right online survey solutions provider, you can put these powerful new tools to work for your company today.
Traditional Employee Evaluation Procedures
In traditional employee evaluation procedures, in which a supervisor provides a single review of a subordinate employee, it’s almost impossible for managers to know whether a specific employee is performing well (or not) in all of his or her interactions throughout the company. It’s no secret that some employees typically perform well only when a manager is around. It’s important to also know how the employee is perceived by peers and subordinates, not just the boss. This can impact employee retention, satisfaction, and job performance throughout the organization.
At the same time, companies need to perform more complete, fair and objective measures than ever, due to increasing competitive pressure and the ongoing need to retain their best employees. After all, they’re your business’s biggest assets.
That’s where 360° Analysis comes in.
What is 360 Degree Analysis?
With 360° Analysis—which you may see referred to as 360° Feedback or 360° Reviews—is a whole new way of conducting employee performance reviews. Instead of letting each employee’s supervisor serve as the sole “judge” at review time, this HR strategy takes more of a “jury” approach. Sets of peers—those who deal with employees on a day-to-day basis—are asked to provide their anonymous feedback on an individual. These reviews typically also include each employee’s self-assessment, and in some cases even external sources, such as customers, vendors, suppliers, etc.
Why is 360 Degree Analysis So Effective?
360° Analysis offers organizations a full spectrum of operational benefits:
- Supervisors are able to share the employee-review task burden, freeing up time for other pressing departmental issues.
- Employees consider 360° reviews to be more objective.
- Individual feedback can be used to plan employees’ training and personal development.
- Aggregate feedback can be used for forward-thinking strategic planning by department heads and management teams.
- Accountability is heightened; of course, employees know that their interactions with anyone (and not just managers) can affect future performance reviews.
360 Degree Analysis Tips
How many raters, and more importantly, who’ll be doing the rating.
It’s recommended that you designate from 5 to 10 raters per review. Less than five, and you’re probably limiting your perspective; more than five, and you’ll likely end up with a system that’s entirely too time-consuming and complex.
Who rates who?
Choosing the right raters is even more critical than choosing their numbers. There are plenty of potential raters—just about any internal or external customer who regularly interacts with an employee. Just keep in mind that external customers may feel less comfortable evaluating your employees, especially in newer relationships. Consider carefully before asking; after all, performance reviews aren’t your customers’ core competencies and they may be viewed as a burden.
What are the performance criteria?
Of course, you’ll want to base your survey questions on areas in which the raters have ongoing experience regarding the “ratee.” Criteria might include, for starters:
- Communication skills: identification of needs/expectations, sharing of information, helping/mentoring others
- Follow-up to requests, challenges, administrative procedures
- Listening skills (enough said)
- Adherence to schedules, deadlines, etc.
- Planning ability for future company needs
Allow raters to rank on scales from 1 (needs improvement) to 5 (exceptional)—but also allow space for written comments. Numerical responses are valuable for statistical analysis, e.g. comparing one department to another or one year to the next, but open-ended comments are where you’ll get the context to go with that rating.
How many questions should we ask?
Obviously, more questions will deliver more comprehensive results, but keep in mind that long appraisal forms create a LOT of work for the ratees (who, after all, are usually also working on building your business). You may consider different length surveys for different respondent types – shoot for a one-page form—or at most two—for any external reviewers (e.g. customers), and add more questions for direct bosses and subordinates. With SurveyMethods’ advanced page logic, you can easily create one survey and limit the sections that respondents complete using page logic based on questions or custom field values. For more information on page logic, visit our Knowledge Base article .
Who makes the final call?
Some companies let ratees summarize peer feedback, but naturally, it’s almost always the supervisor’s responsibility to act on the aggregate review feedback. Many companies throw out the lowest and highest scores, or at least keep an eye on situations in which just one rater has given strongly positive or negative feedback. Tip: look for trends in the data—not just incidents. After you’ve reviewed for several periods, look at trends such as whether an employee’s average rating has gone up or down, and try to identify why.
Anonymous appraisals or not?
Feedback, especially negative, can be hard to give as well as receive. Of course, you’ll want to avoid confrontation among your employees based on their performance-review assessments of one another. There’s no question about it: anonymity can increase honesty. At the same time, it invites the inevitable “who said what?” gossip, and it makes feedback seem more vague to recipients. Some companies offer raters the option of being identified or not. Many experts recommend starting with anonymous feedback, moving on to rater-revealed feedback when sufficient levels of trust and openness are achieved. Ultimately, you can position learning to objectively give and receive feedback as part of each employee’s ongoing personal development.
Consider Seeking an Expert for Assistance
Of course, once you decide to implement an online 360° Analysis solution, working with a specialized survey partner may cost a bit more than implementing your surveys in-house, but the results are much more likely to be based on proven, scientific methodologies.
SurveyMethods is a pioneer in providing simple, cost-efficient online survey technologies to companies of all sizes. We provide survey and analysis tools to help businesses and organizations understand and improve their operating environment—and increase satisfaction, loyalty, competitiveness, revenue and profitability. We can also provide survey consulting services, such as assisting with designing and employing your survey, helping with analysis and reporting, or you can outsource your entire process to us. Having a third party deploy your survey gives your respondents extra assurance in their anonymity, which results in the most candid and useful feedback.
360° Analysis is rapidly becoming the most effective new method of evaluating on-the-job performance, in which employees are rated by a range of peers as well as managers. New online tools make it easier than ever to quickly and cost-effectively deploy 360 degree analysis surveys to gather critical information for improving employee performance—as long as you select the right partner and follow basic principles.
Need help in creating and implementing your 360° Analysis survey strategy? Contact SurveyMethods today!
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- Privacy Policy
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This Privacy Policy sets out how we, Methods Group LLC ("SurveyMethods") , collect, store and use information about you when you use or interact with our website, surveymethods.com (our website) and where we otherwise obtain or collect information about you. This Privacy Policy is effective from 2 nd April 2020 .
Our details
When you visit our website, when you use our website, marketing communications, information obtained from third parties, disclosure and additional uses of your information, how long we retain your information, how we secure your information, transfers of your information outside the european economic area, your rights in relation to your information, changes to our privacy policy, children’s privacy.
This section summarises how we obtain, store and use information about you. It is intended to provide a very general overview only. It is not complete in and of itself and it must be read in conjunction with the corresponding full sections of this Privacy Policy.
- Data controller: SurveyMethods
- How we collect or obtain information about you: When you provide it to us, e.g. by contacting us, placing an order on our website, completing registration forms, signing up for free trials, submitting and completing surveys, posting blogs, or signing up for content such as newsletters. From your use of our website, using cookies and occasionally, from third parties such as mailing list providers.
- Information we collect: Email address, password, first name, last name, job function, demographic information such as age, date of birth, gender, education, company name, phone, billing address, country, state/province/region, city, zip/postal code, and very limited credit card details (the cardholder’s name, only the last 4 digits of the credit card number, and the expiration date) for authentication (we do not store the CVV number), IP address, information from cookies, information about your computer or device (e.g. device and browser type), information about how you use our website (e.g. which pages you have viewed, the time when you view them and what you clicked on, the geographical location from which you accessed our website (based on your IP address), VAT number (if applicable), engagement history and transaction history).
- How we use your information: For administrative and business purposes (particularly to contact you and process orders you place on our website, to post and respond to surveys, to improve our business and website, to fulfill our contractual obligations, to advertise our and other’s goods and services, to analyse your use of our website, and in connection with our legal rights and obligations).
- Disclosure of your information to third parties: User information can be shared with partners for specific types of content and events where a user has registered their information. Other disclosures are only to the extent necessary to run our business, to our service providers, to fulfill any contracts we enter into with you and where required by law or to enforce our legal rights.
- Do we sell your information to third parties (other than in the course of a business sale or purchase or similar event): No, SurveyMethods does not sell data. However, when you register or sign up for certain types of content, your registration data can be shared with sponsors and partners. Examples of where we do this include event registrations, webinar signups or whitepaper downloads. We will always make it clear where any information provided will be shared with other parties.
- How long we retain your information: For no longer than necessary, taking into account any legal obligations we have (e.g. to maintain records for tax purposes), any other legal basis we have for using your information (e.g. your consent, performance of a contract with you or our legitimate interests as a business) and certain additional factors described in the main section below entitled 'How long we retain your information'. For specific retention periods in relation to certain information which we collect from you, please see the main section below entitled 'How long we retain your information'.
- How we secure your information: Using appropriate technical and organisational measures such as storing your information on secure servers, encrypting transfers of data to or from our servers using Secure Sockets Layer (SSL) technology, encrypting payments you make on or via our website using Secure Sockets Layer (SSL) technology and only granting access to your information where necessary.
- Use of cookies and similar technologies: We use cookies and similar information-gathering technologies such as marketing automation tracking on our website including essential, functional, analytical and targeting cookies. For more information, please view our cookie policy .
- Transfers of your information outside the European Economic Area: By using our website, your information may be transferred outside of the European Economic Area. We take personal data seriously and as such we ensure appropriate safeguards are in place, including, for example, that the third parties we use who transfer your information outside the European Economic Area have self-certified themselves as compliant with the EU-U.S. Privacy Shield.
- Use of profiling: We use profiling to understand our users better through web and marketing analytics, provide targeted advertising and deliver a personalised user experience.
- to access your information and to receive information about its use
- to have your information corrected and/or completed
- to have your information deleted
- to restrict the use of your information
- to receive your information in a portable format
- to object to the use of your information
- to withdraw your consent to the use of your information
- to complain to a supervisory authority
- Sensitive personal information: We do collect what is commonly referred to as ‘sensitive personal information’, however we will only capture essential minimum data where it is strictly necessary. Any sensitive data will be held on our secure servers and will be transferred securely using SSL 256-bit encryption.
If you have any questions about this Privacy Policy, please contact the data controller.
The data controller in respect of our website is SurveyMethods and can be contacted at 800-601-2462 or 214-257-8909 .
You can also contact the data controller by emailing our data protection officer at [email protected] .
We collect and use information from website visitors in accordance with this section and the section entitled 'Disclosure and additional uses of your information'.
Web server log information
We use a third party server to host our website called Google Cloud the privacy policy of which is available here: https://policies.google.com/
Our website server automatically logs the IP address you use to access our website as well as other information about your visit such as the pages accessed, information requested, the date and time of the request, the source of your access to our website (e.g. the website or URL (link) which referred you to our website), and your browser version and operating system.
Use of website server log information for IT security purposes
We collect and store server logs to ensure network and IT security and so that the server and website remain uncompromised. This includes analysing log files to help identify and prevent unauthorised access to our network, the distribution of malicious code, denial of services attacks and other cyber-attacks, by detecting unusual or suspicious activity.
Unless we are investigating suspicious or potential criminal activity, we do not make, nor do we allow our hosting provider to make, any attempt to identify you from the information collected via server logs.
Legal basis for processing: Compliance with a legal obligation to which we are subject (Article 6(1)(c) of the General Data Protection Regulation).
Legal obligation: We have a legal obligation to implement appropriate technical and organisational measures to ensure a level of security appropriate to the risk of our processing of information about individuals. Recording access to our website using server log files is such a measure.
Legal basis for processing: Our legitimate interests (Article 6(1)(f) of the General Data Protection Regulation).
Legitimate interests: We have a legitimate interest in using your information for the purposes of ensuring network and information security.
Use of website server log information to analyse website use and improve our website
We use the information collected by our website server logs to analyse how our website users interact with our website and its features. For example, we analyse the number of visits and unique visitors we receive, the time and date of the visit, the location of the visit and the operating system and browser use.
We use the information gathered from the analysis of this information to improve our website. For example, we use the information gathered to change the information, content and structure of our website and individual pages based according to what users are engaging most with and the duration of time spent on particular pages on our website.
Legal basis for processing: our legitimate interests (Article 6(1)(f) of the General Data Protection Regulation).
Legitimate interest: improving our website for our website users and getting to know our website users’ preferences so our website can better meet their needs and desires.
Cookies are data files which are sent from a website to a browser to record information about users for various purposes.
We use cookies on our website, including essential, functional, analytical and targeting cookies. For further information on how we use cookies, please see our cookie policy .
You can reject some or all of the cookies we use on or via our website by changing your browser settings or non-essential cookies by using a cookie control tool, but doing so can impair your ability to use our website or some or all of its features. For further information about cookies, including how to change your browser settings, please visit www.allaboutcookies.org or see our cookie policy .
When you contact us
We collect and use information from individuals who contact us in accordance with this section and the section entitled 'Disclosure and additional uses of your information'.
When you send an email to the email address displayed on our website we collect your email address and any other information you provide in that email (such as your name, telephone number and the information contained in any signature block in your email).
Legitimate interest(s): Responding to enquiries and messages we receive and keeping records of correspondence.
Legal basis for processing: Necessary to perform a contract or to take steps at your request to enter into a contract (Article 6(1)(b) of the General Data Protection Regulation).
Reason why necessary to perform a contract: Where your message relates to us providing you with goods or services or taking steps at your request prior to providing you with our goods and services (for example, providing you with information about such goods and services), we will process your information in order to do so).
Enquiry forms
When you contact us using an enquiry form, we collect your personal details and match this to any information we hold about you on record. Typical personal information collected will include your name and contact details. We will also record the time, date and the specific form you completed.
If you do not provide the mandatory information required by our contact form, you will not be able to submit the contact form and we will not receive your enquiry.
We will also use this information to tailor any follow up sales and marketing communications with you. For further information, see the section of this privacy policy titled 'Marketing communications'.
Messages you send to us via our contact form may be stored outside the European Economic Area on our contact form provider’s servers.
When you contact us by phone, we collect your phone number and any information provide to us during your conversation with us.
We may record phone calls with customers for training and customer service purposes.
Legal basis for processing: Our legitimate interests (Article 6(1)(f) of the General Data Protection Regulation)
Reason why necessary to perform a contract: Where your message relates to us providing you with goods or services or taking steps at your request prior to providing you with our goods and services (for example, providing you with information about such goods and services), we will process your information in order to do so.
If you contact us by post, we will collect any information you provide to us in any postal communications you send us.
Legal basis for processing: Necessary to perform a contract or to take steps at your request to enter into a contract (Article 6(1)(b) of the General Data Protection Regulation).
We collect and use information from individuals who interact with particular features of our website in accordance with this section and the section entitled 'Disclosure and additional uses of your information'.
Social Media Tools
We have a wide range of social media tools to be able to use on our website. These tools include (but are not limited to); Sharing, Likes, comments and submitting content both on and off our website. By using these tools, you are providing your consent to store and use the submitted data, whether personal information or general information, both on and off our website.
Legal basis for processing: Your consent (Article 6(1)(a) of the General Data Protection Regulation). Consent: You give your consent to us storing and using submitted content using the steps described above.
We may also use this information to tailor any follow up sales and marketing communications with you. For further information, see the section of this privacy policy titled 'Marketing Communications'.
Information you submit may be stored both inside and outside the European Economic Area on our servers as well as third-party servers such as Facebook.
Registered Users
When you register as a user on our website:
- We collect and store one or more of the following: Your email address, password, first name, last name, job function, company name, phone, billing address, country, state/province/region, city, zip/postal code, and very limited credit card details (the cardholder’s name, only the last 4 digits of the credit card number, and the expiration date) for authentication. We do not store the CVV number.
- We use this data to provide you with customer support and other services, bill you for our services, collect feedback, send you account-related notifications, and keep you informed about our key features, important feature updates, and latest releases.
- We store data related to your surveys, polls, and newsletters in your account that you access using your login-id and password. This includes questions, responses, images, email lists, data you enter while configuring or customizing any settings, etc. This data is processed by SurveyMethods to enable you to perform functions like design and distribution of surveys, polls, newsletters, and analysis & reporting.
- We do not share any personally identifiable and account-related data with a third party without your explicit consent. However, if you use the SurveyMethods API or 3rd Party Integrations, you will need to share your SurveyMethods login-id and the “API Key” with the 3rd party for authentication. For more on our API Terms of Use, click here .
- We may display your organization’s name and/or logo on our customer listing (unless agreed upon otherwise by both parties herein).
- Your data will be visible to those with whom you share your published reports or extracted data/reports.
- If you collaborate your surveys with other Registered Users, all collaborated data and your login-id will be visible to them.
- If you are a Child User on an Enterprise account, the Enterprise Master User (Administrator) will be able to see the SurveyMethods login-id, first name, last name, phone number, account type, and expiration date of the Enterprise Child Accounts (Member Accounts). The Enterprise Child Accounts can view the SurveyMethods login-id, first name, last name, phone number, job title, job function, country, state/province/region, and city of the Enterprise Master User.
- Troubleshoot problems and fix bugs (issues).
- Ensure website compatibility across different devices and browsers.
- Identify trends and patterns in the usage of our Services.
- Gain insights for adding or improving the functionality and usability of our website.
- Monitor and prevent abuse.
- To prevent any undesirable, abusive, or illegal activities, we have automated processes in place that check your data for malicious activities, spam, and fraud.
- We may use your data if required by law, court orders, subpoenas, or to enforce our agreements.
- We collect information using cookies. Cookies are digital files that allow websites to recognize returning users. While most browsers allow users to refuse cookies or request permission on a case-by-case basis, our site will not function properly without them. SurveyMethods uses cookies primarily to enable the smooth functioning of its Services.
- While accessing SurveyMethods, you may be able to access links that take you to websites external to SurveyMethods. SurveyMethods is not responsible for the content, policies, or terms of these websites.
GDPR Legal Classification for registered users
Legitimate interest: Registering and administering accounts on our website to provide access to content, allows you to buy goods and services and facilitates the running and operation of our business.
Transfer and storage of your information
Information you submit to us via the registration form on our website may be stored outside the European Economic Area on our third-party hosting provider’s servers.
When you register as an end user;
- SurveyMethods’ Surveys and Polls sent by Registered Users
- Newsletters from SurveyMethods Newsletter module and sent by Registered Users
- When responding to a survey or a poll, End Users may provide personal data such as first name, last name, phone number, email address, demographic data like age, date of birth, gender, education, income, marital status, and any other sensitive data that directly or indirectly identifies them. SurveyMethods does not use or share any data of End Users in any way. The Registered User is solely responsible for ensuring that collection and sharing of any End User data, personal or otherwise, is done with the End User’s consent and in accordance with applicable data protection laws.
- Since the Registered User controls and manages all data of their surveys, polls, and newsletters, End Users may contact the Registered User for any concerns regarding consent, privacy and protection of their data, or if they wish to access, modify, or delete their data.
GDPR Legal Classification for End Users
Visitors to our website
When you visit our website:
- SurveyMethods may record your personal data (such as your name, email address, phone, company, and the reason you are contacting us) when you visit the SurveyMethods website and contact us using our online form. Any consent for the collection and use of your data in this case is entirely voluntary.
- We may use your contact information to respond to you. We do not share any personally identifiable information with a third party without your explicit consent.
GDPR Legal Classification for Visitors
When you place an order
We collect and use information from individuals who place an order on our website in accordance with this section and the section entitled 'Disclosure and additional uses of your information'.
Information collected when you place an order
Mandatory information
When you place an order for goods or services on our website, we collect your name, email address, billing address.
If you do not provide this information, you will not be able to purchase goods or services from us on our website or enter into a contract with us.
Legal basis for processing: Compliance with a legal obligation (Article 6(1)(c) of the General Data Protection Regulation).
Legal obligation: We have a legal obligation to issue you with an invoice for the goods and services you purchase from us where you are VAT registered and we require the mandatory information collected by our checkout form for this purpose. We also have a legal obligation to keep accounting records, including records of transactions.
Additional information
We can also collect additional information from you, such as your phone number, full name, address etc.
We use this information to manage and improve your customer experience with us.
If you do not supply the additional information requested at checkout, you will not be able to complete your order as we will not have the correct level of information to adequately manage your account.
Legitimate interests: The ability to provide adequate customer service and management of your customer account.
Our content, goods and services
When signing up for content, registering on our website or making a payment, we will use the information you provide in order to contact you regarding related content, products and services.
We will continue to send you marketing communications in relation to similar goods and services if you do not opt out from receiving them.
You can opt-out from receiving marketing communications at any time by emailing [email protected] .
Legitimate interests: Sharing relevant, timely and industry-specific information on related business services, in order to help your organisation achieve its goals.
Third party goods and services
In addition to receiving information about our products and services, you can opt in to receiving marketing communications from us in relation third party goods and services by email by ticking a box indicating that you would like to receive such communications.
Legal basis for processing: Consent (Article 6(1)(a) of the General Data Protection Regulation).
Consent: You give your consent to us sending you information about third party goods and services by signing up to receive such information in accordance with the steps described above.
Information for marketing campaigns will be stored outside the European Economic Area on our third-party mailing list provider’s servers in the United States.
For further information about the safeguards used when your information is transferred outside the European Economic Area, see the section of this privacy policy below entitled 'Transfers of your information outside the European Economic Area'.
Use of tracking in emails
We use technologies such as tracking pixels (small graphic files) and tracked links in the emails we send to allow us to assess the level of engagement our emails receive by measuring information such as the delivery rates, open rates, click through rates and content engagement that our emails achieve.
This section sets out how we obtain or collect information about you from third parties.
Information received from third parties
We can often receive information about you from third parties. The third parties from which we receive information about you can include partner events within the marketing industry and other organisations that we have a professional affiliation with.
It is also possible that third parties with whom we have had no prior contact may provide us with information about you.
Information we obtain from third parties will generally be your name and contact details but will include any additional information about you which they provide to us.
Reason why necessary to perform a contract: Where a third party has passed on information about you to us (such as your name and email address) in order for us to provide services to you, we will process your information in order to take steps at your request to enter into a contract with you and perform a contract with you (as the case may be).
Consent: Where you have asked a third party to share information about you with us and the purpose of sharing that information is not related to the performance of a contract or services by us to you, we will process your information on the basis of your consent, which you give by asking the third party in question to pass on your information to us.
Legitimate interests: Where a third party has shared information about you with us and you have not consented to the sharing of that information, we will have a legitimate interest in processing that information in certain circumstances.
For example, we would have a legitimate interest in processing your information to perform our obligations under a sub-contract with the third party, where the third party has the main contract with you. Our legitimate interest is the performance of our obligations under our sub-contract.
Similarly, third parties may pass on information about you to us if you have infringed or potentially infringed any of our legal rights. In this case, we will have a legitimate interest in processing that information to investigate and pursue any such potential infringement.
Information obtained by us from third parties
In certain circumstances (for example, to verify the information we hold about you or obtain missing information we require to provide you with a service) we will obtain information about you from certain publicly accessible sources, both EU and non-EU, such as Companies House, online customer databases, business directories, media publications, social media, and websites (including your own website if you have one).
In certain circumstances will also obtain information about you from private sources, both EU and non-EU, such as marketing data services.
Legitimate interests: Sharing relevant, timely and industry-specific information on related business services.
Where we receive information about you in error
If we receive information about you from a third party in error and/or we do not have a legal basis for processing that information, we will delete your information.
This section sets out the circumstances in which will disclose information about you to third parties and any additional purposes for which we use your information.
Disclosure of your information to service providers
We use a number of third parties to provide us with services which are necessary to run our business or to assist us with running our business.
These include the following: Internet services, IT service providers and web developers.
Our third-party service providers are located both inside and outside of the European Economic Area.
Your information will be shared with these service providers where necessary to provide you with the service you have requested, whether that is accessing our website or ordering goods and services from us.
We do not display the identities of our service providers publicly by name for security and competitive reasons. If you would like further information about the identities of our service providers, however, please contact us directly by email and we will provide you with such information where you have a legitimate reason for requesting it (where we have shared your information with such service providers, for example).
Legal basis for processing: Legitimate interests (Article 6(1)(f) of the General Data Protection Regulation).
Legitimate interest relied on: Where we share your information with these third parties in a context other than where is necessary to perform a contract (or take steps at your request to do so), we will share your information with such third parties in order to allow us to run and manage our business efficiently.
Legal basis for processing: Necessary to perform a contract and/or to take steps at your request prior to entering into a contract (Article 6(1)(b) of the General Data Protection Regulation).
Reason why necessary to perform a contract: We may need to share information with our service providers to enable us to perform our obligations under that contract or to take the steps you have requested before we enter into a contract with you.
Disclosure and use of your information for legal reasons
Indicating possible criminal acts or threats to public security to a competent authority.
If we suspect that criminal or potential criminal conduct has occurred, we will in certain circumstances need to contact an appropriate authority, such as the police. This could be the case, for instance, if we suspect that fraud or a cyber-crime has been committed or if we receive threats or malicious communications towards us or third parties.
We will generally only need to process your information for this purpose if you were involved or affected by such an incident in some way.
Legitimate interests: Preventing crime or suspected criminal activity (such as fraud).
In connection with the enforcement or potential enforcement our legal rights
We will use your information in connection with the enforcement or potential enforcement of our legal rights including, for example, sharing information with debt collection agencies if you do not pay amounts owed to us when you are contractually obliged to do so. Our legal rights may be contractual (where we have entered into a contract with you) or non-contractual (such as legal rights that we have under copyright law or tort law).
Legitimate interest: Enforcing our legal rights and taking steps to enforce our legal rights.
In connection with a legal or potential legal dispute or proceedings
We may need to use your information if we are involved in a dispute with you or a third party for example, either to resolve the dispute or as part of any mediation, arbitration or court resolution or similar process.
Legitimate interest(s): Resolving disputes and potential disputes.
This section sets out how long we retain your information. We have set out specific retention periods where possible. Where that has not been possible, we have set out the criteria we use to determine the retention period.
Retention periods
Server log information: We retain information on our server logs for 3 months.
Order information: When you place an order for goods and services, we retain that information for seven years following the end of the financial year in which you placed your order, in accordance with our legal obligation to keep records for tax purposes.
Correspondence and enquiries: When you make an enquiry or correspond with us for any reason, whether by email or via our contact form or by phone, we will retain your information for as long as it takes to respond to and resolve your enquiry, and for 36 further months, after which we will archive your information.
Newsletter: We retain the information you used to sign up for our newsletter for as long as you remain subscribed (i.e. you do not unsubscribe).
Registration: We retain the information you used to register for as long as you remain subscribed (i.e. you do not unsubscribe).
Criteria for determining retention periods
In any other circumstances, we will retain your information for no longer than necessary, taking into account the following:
- the purpose(s) and use of your information both now and in the future (such as whether it is necessary to continue to store that information in order to continue to perform our obligations under a contract with you or to contact you in the future);
- whether we have any legal obligation to continue to process your information (such as any record-keeping obligations imposed by relevant law or regulation);
- whether we have any legal basis to continue to process your information (such as your consent);
- how valuable your information is (both now and in the future);
- any relevant agreed industry practices on how long information should be retained;
- the levels of risk, cost and liability involved with us continuing to hold the information;
- how hard it is to ensure that the information can be kept up to date and accurate; and
- any relevant surrounding circumstances (such as the nature and status of our relationship with you).
We take appropriate technical and organisational measures to secure your information and to protect it against unauthorised or unlawful use and accidental loss or destruction, including:
- only sharing and providing access to your information to the minimum extent necessary, subject to confidentiality restrictions where appropriate, and on an anonymised basis wherever possible;
- using secure servers to store your information;
- verifying the identity of any individual who requests access to information prior to granting them access to information;
- using Secure Sockets Layer (SSL) software to encrypt any payment transactions you make on or via our website;
- only transferring your information via closed system or encrypted data transfers;
Transmission of information to us by email
Transmission of information over the internet is not entirely secure, and if you submit any information to us over the internet (whether by email, via our website or any other means), you do so entirely at your own risk.
We cannot be responsible for any costs, expenses, loss of profits, harm to reputation, damages, liabilities or any other form of loss or damage suffered by you as a result of your decision to transmit information to us by such means.
Your information may be transferred and stored outside the European Economic Area (EEA) in the circumstances set out earlier in this policy.
We will also transfer your information outside the EEA or to an international organisation in order to comply with legal obligations to which we are subject (compliance with a court order, for example). Where we are required to do so, we will ensure appropriate safeguards and protections are in place.
Subject to certain limitations on certain rights, you have the following rights in relation to your information, which you can exercise by writing to the data controller using the details provided at the top of this policy.
- to request access to your information and information related to our use and processing of your information;
- to request the correction or deletion of your information;
- to request that we restrict our use of your information;
- to receive information which you have provided to us in a structured, commonly used and machine-readable format (e.g. a CSV file) and the right to have that information transferred to another data controller (including a third-party data controller);
- to object to the processing of your information for certain purposes (for further information, see the section below entitled 'Your right to object to the processing of your information for certain purposes'); and
- to withdraw your consent to our use of your information at any time where we rely on your consent to use or process that information. Please note that if you withdraw your consent, this will not affect the lawfulness of our use and processing of your information on the basis of your consent before the point in time when you withdraw your consent.
In accordance with Article 77 of the General Data Protection Regulation, you also have the right to lodge a complaint with a supervisory authority, in particular in the Member State of your habitual residence, place of work or of an alleged infringement of the General Data Protection Regulation.
Further information on your rights in relation to your personal data as an individual
You can find out further information about your rights, as well as information on any limitations which apply to those rights, by reading the underlying legislation contained in Articles 12 to 22 and 34 of the General Data Protection Regulation, which is available here: http://ec.europa.eu/justice/data-protection/reform/files/regulation_oj_en.pdf
Verifying your identity where you request access to your information
Where you request access to your information, we are required by law to use all reasonable measures to verify your identity before doing so.
These measures are designed to protect your information and to reduce the risk of identity fraud, identity theft or general unauthorised access to your information.
How we verify your identity
Where we possess appropriate information about you on file, we will attempt to verify your identity using that information.
If it is not possible to identity you from such information, or if we have insufficient information about you, we may require original or certified copies of certain documentation in order to be able to verify your identity before we are able to provide you with access to your information.
We will be able to confirm the precise information we require to verify your identity in your specific circumstances if and when you make such a request.
Your right to object
You have the following rights in relation to your information, which you may exercise in the same way as you may exercise by writing to the data controller using the details provided at the top of this policy.
- to object to us using or processing your information where we use or process it in order to carry out a task in the public interest or for our legitimate interests , including ‘profiling’ (i.e. analysing or predicting your behaviour based on your information) based on any of these purposes; and
- to object to us using or processing your information for direct marketing purposes (including any profiling we engage in that is related to such direct marketing).
You may also exercise your right to object to us using or processing your information for direct marketing purposes by:
- clicking the unsubscribe link contained at the bottom of any marketing email we send to you and following the instructions which appear in your browser following your clicking on that link;
- sending an email to [email protected] , asking that we stop sending you marketing communications or by including the words “OPT OUT”.
Sensitive Personal Information
‘Sensitive personal information’ is information about an individual that reveals their racial or ethnic origin, political opinions, religious or philosophical beliefs, or trade union membership, genetic information, biometric information for the purpose of uniquely identifying an individual, information concerning health or information concerning a natural person’s sex life or sexual orientation.
Our website may allow you to register ‘Sensitive Information’, however when we ask for this, you will be considered to have explicitly consented to us processing that sensitive personal information under Article 9(2)(a) of the General Data Protection Regulation.
We update and amend our Privacy Policy from time to time.
Minor changes to our Privacy Policy
Where we make minor changes to our Privacy Policy, we will update our Privacy Policy with a new effective date stated at the beginning of it. Our processing of your information will be governed by the practices set out in that new version of the Privacy Policy from its effective date onwards.
Major changes to our Privacy Policy or the purposes for which we process your information
Where we make major changes to our Privacy Policy or intend to use your information for a new purpose or a different purpose than the purposes for which we originally collected it, we will notify you by email (where possible) or by posting a notice on our website.
We will provide you with the information about the change in question and the purpose and any other relevant information before we use your information for that new purpose.
Wherever required, we will obtain your prior consent before using your information for a purpose that is different from the purposes for which we originally collected it.
Because we care about the safety and privacy of children online, we comply with the Children’s Online Privacy Protection Act of 1998 (COPPA). COPPA and its accompanying regulations protect the privacy of children using the internet. We do not knowingly contact or collect information from persons under the age of 18. The website is not intended to solicit information of any kind from persons under the age of 18.
It is possible that we could receive information pertaining to persons under the age of 18 by the fraud or deception of a third party. If we are notified of this, as soon as we verify the information, we will, where required by law to do so, immediately obtain the appropriate parental consent to use that information or, if we are unable to obtain such parental consent, we will delete the information from our servers. If you would like to notify us of our receipt of information about persons under the age of 18, please do so by contacting us by using the details at the top of this policy.
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Customer 360 Degree Analysis Report
What is a Customer 360 Degree Analysis Report ?
Customer 360 degree reports are considered one of the most important analysis tools in a company and are often used by customer-facing employees and managers to quickly get a complete picture of a specific customer without having to manually assemble data from different systems. Some of the key functionality in this type of dashboard report is that it combines data from the company’s systems that hold customer information. These typically include sales and receivables data from the ERP system, pipeline data from CRM and support data from the helpdesk system. The report is a single page, easy to read format that combines customer metrics with charts for easy analysis. The report is parameter driven and the user can run it for any customer and date range. You find an example of this type of dashboard report below.
Purpose of 360 Degree Customer Reports
Companies and organizations use 360 Degree Customer Reports to speed up decisions by providing employees and managers with a very quick and easy way to see everything going on with a customer. When used as part of good business practices in a customer-facing department, a company can improve its customer-related decisions as well as reduce the chances that revenues are lost because employees make decisions without a complete customer picture.
360 Degree Customer Report Example
Here is an example of a Customer360 report that combines data from multiple data sources.
Customer 360 Degree Analysis Report Example
You can find hundreds of additional examples here
Who Uses This Type of Dashboard report ?
The typical users of this type of dashboard report are: Support teams, Sales teams, Managers.
Other Dashboard Report s Often Used in Conjunction with 360 Degree Customer Reports
Progressive customer-facing Departments sometimes use several different 360 Degree Customer Reports, along with sales reports, receivables reports, support reports, customer dashboards and other management and control tools.
Where Does the Data for Analysis Originate From?
The Actual (historical transactions) data typically comes from helpdesk, CRM and enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Microsoft Dynamics 365 (CRM), Salesforce, Hubspot, Zendesk, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.
In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards?
Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver )
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
- View 100s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- See how reports are designed in a modern report writer using a cloud-connected Excel add-in writer
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards
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10 Best 360 Feedback Tools to look for in 2023
Kate william.
8 January 2023
Table Of Contents
- 10 Best 360 feedback tools
- SurveySparrow
- SurveyMonkey
On the lookout for the best 360 feedback tools for your 360 surveys?
Search no more.
Sadly, only 55% of employees think that performance 360 reviews are effective. There are companies that conduct performance assessment surveys just for the sake of it and neglect it completely thereafter.
Now, you can’t blame the employees for loathing the assessment feedback! So, how do you improve the quality of employee assessment and procure authentic feedback by ensuring anonymity as well? A 360-degree feedback tool is the ultimate answer.
So, what is a 360 feedback tool?
Essentially, a 360 feedback tool lets you gather real-time feedback on employee performance from peers, subordinates, superiors, etc. by maintaining the anonymity of the respondents. 360 reviews are an integral part of employee experience and the employee development process.
The 10 Best 360 Feedback Tools of 2023
Taking all the features into consideration we have curated a list of the best 360 evaluation tools for you. Here’s the list of all the 10 best 360 feedback tools that you should definitely check out in 2023.
360 Feedback Tool #1: SurveySparrow
SurveySparrow is easily one of the best bets for a 360 feedback tool if employee assessment is no ‘annual humbug’ for you. The platform guarantees a highly personalized and engaging 360 review survey experience to your employees, be it supervisors or peers. The multi-UI platform offers both chat-like surveys and conversational forms, thus delivering response rates that are higher by a whopping 40%!
With SurveySparrow’s 360-degree feedback tool, you can:
- Create a custom 360-degree feedback survey
- Increase productivity & drive growth with 360 Reports
- Customize your Employee 360 reports & emails
- Catalyze personal growth & development of employees with 360 evaluations
- Conduct appraisals backed with performance reviews
- Readily track assessment in the employee portal
This 360 evaluation tool also helps you ensure that your 360 evaluation survey is not a ‘once in a blue moon’ affair. You can automate and henceforth conduct the surveys at convenient time intervals. With the platform, you can also identify the channels that fetch you great responses.
You can sign up for FREE to create a 360 review survey now!
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SurveySparrow’s 360 feedback tool has multiple share options, email reminders, an insightful click-free dashboard, and seamless integrations that provide an uninterrupted workflow that aids in closing the feedback loop. Get started with your 360 surveys now!
Pricing : $59/subject (for 100 subjects)
Related : How to create a thriving workforce with 360 assessments
360 Feedback Tool #2: SurveyMonkey
Next in line to make it to our list of best 360 feedback tools is the ever-popular platform, SurveyMonkey . The tool helps you align your teams and departments to employ a tactical approach towards fulfilling the purpose of your enterprise. Collect feedback anonymously through plain and simple surveys that the 360 feedback software offers you.
You can also customize your survey forms to assess your employees accordingly. With SurveyMonkey, you can create 360 feedback surveys in minutes, saving you loads of time.
SurveyMonkey does make for a decent employee assessment tool with some impressive features like its ready-to-use templates and diverse question types. However, the pricing plans may burn a hole in your pocket, considering the outdated interface and lethargic customer support. If you are an existing customer of the platform trying for a switch, you might as well scroll down or look for the perfect SurveyMonkey alternatives .
Pricing : Starts at $31 a month.
360 Feedback Tool #3: Typeform
One of the best form builder apps , Typeform, is a platform that’s growing increasingly popular day by day. The 360 evaluation process of the tool helps you collect responses from your whole team for effective employee assessments.
You can personalize your 360 feedback survey with Typeform. Include or exclude questions, customize designs and change the logic if you want to. That’s not all. You can also share the mobile-friendly forms through various online channels.
The intuitive platform with its ample mix of questions is a cinch to use and has rightly made its way into the list of the best 360 feedback tools of the year. Yet, you can’t ignore the steep pricing plans and unsatisfying customer support of Typeform.
Pricing : Starts at $35 a month.
Related : Top 10 Typeform alternatives (free + paid)
360 Feedback Tool #4: Alchemer
Also, a popular online survey tool , Alchemer , lets you set up and manage your 360 feedback easily. You can upload a CSV file that contains the details of the respondents and then build the survey accordingly within a blink of the eye using the tool. You can evaluate your employees easily, thanks to their automated and personalized reports.
Alchemer can be considered one of the best 360 assessment tools, however, the steep learning curve and unreliable customer service are definitely a stumbling block. SurveyGizmo claims to be unrivaled in terms of affordability but with a pricing plan that starts at $25, the 360 feedback software may actually be ‘rivaled’.
Pricing : Starts at $25 per month.
360 Feedback Tool #5: SpiderGap
SpiderGap is a cloud-based software that dedicates itself to 360 feedback and employee assessment. SpiderGap is one of the best 360 feedback tools available in the market due to its distinctive features.
You can customize your questionnaires to assess employees scaling from 5 to 500,000 in number and procure customized reports aided by a drag and drop interface. Apart from this, your employees can even choose their feedback providers.
SpiderGap is a fair, intuitive 360 feedback tool. But on the downside, the pricing plans for this tool are rather too expensive.
Pricing : Starts with $79 per employee to be assessed.
360 Feedback Tool #6: Qualtrics
The experience management company, Qualtrics offers 360 feedback as part of their Employee XM. Qualtrics 360 feedback supports the HRs to take actions as per the analysis delivered by the individual reports pertaining to each employee. Another striking offering of the software is its built-in confidentiality features that ensure the anonymity of the respondents/raters.
The accomplished features like customizable surveys, confidentiality features, and real-time progress updates make Qualtrics one of the best 360 feedback tools out there. It might be a good pick for you but do watch out for the very sophisticated learning curve and the unresponsive customer support. If the prior mentioned factors put you off, then you may want to check for some Qualtrics alternatives .
Pricing : Contact to get a quote
360 Feedback Tool #7: Culture Amp
Cultural Amp is a dedicated tool promoting employee engagement and reviews backed by psychologists and data scientists. The 360 feedback tool follows an action-oriented feedback format helping you to close the feedback loop. You have automated 360 feedback surveys for almost all the phases like exit, onboarding, and regular performance assessment, etc.
Culture Amp, with its intuitive, mobile-friendly surveys, can be listed as one of the best 360 feedback tools but one drawback is that it lacks provisions for seamless integrations.
360 Feedback Tool #8: Reviewsnap
Reviewsnap is one of the best 360 feedback tools that provide an array of job-specific templates to level-up your feedback. The tool gathers data from surveys and generates insightful analytics based on the same. This is one of the few 360 feedback software that literally makes notes and reviews employee data around particular areas like time management, technical skill, etc. to help improve the overall performance. You can also customize your survey forms using the drag and drop fields.
The easy-to-use platform is a standard choice for a 360 feedback tool. Nonetheless, their customer support provisions are quite disappointing.
Pricing : Starts at $3040 per year.
360 Feedback Tool #9: 15Five
One of the most popular continuous performance management tools , 15Five fits in weekly check-in, one-on-one meeting agendas, OKRs and 360 feedback as part of their proven performance management process. This 360 feedback process of the software offers self and peer employee reviews.
You can control the entire feedback cycle, trigger emails as a gentle reminder to complete feedback and set alerts for quarterly performance assessments. The platform also offers you templates that they claim to be inspired by psychology to gather effective results.
All the aforementioned features along with separate compensation reviews and rich dashboards surely make 15Five one of the best 360 feedback tools out there. Be that as it may, the tool is not perfect owing to its lack of distinct data analysis and mediocre customer support.
Pricing : Starts $7 per person a month
360 Feedback Tool#10: Trakstar
The final entry into our list of best 360 feedback tools is Trakstar . The employee engagement software offers 360 feedback and promotes a comprehensive employee assessment. With Trakstar you can create customized forms and even garner employee feedback from members outside the team like partners and vendors.
You can review the 360-degree feedback workflow with much ease as an admin. What’s more? The penetrative data-driven reports help you compare responses, rate competencies and find performance issues.
Trakstar is clearly an accomplished 360 feedback software but it has a steep learning curve.
What are the qualities that a good 360 feedback tool should have?
Here are some mandatory qualities that a good 360 feedback software should display:
- A Well-Integrated Dashboard : A 360 feedback tool should contain a rich dashboard throwing light on various factors through reports, pie charts, line graphs, and bar graphs so as to derive insights.
- Automated Surveys : The best 360 feedback tools should have the provision to automate surveys . You should be able to configure surveys just once so that they recur at regular intervals henceforth.
- Reliable Templates : The 360 feedback software should be able to provide you with a wide variety of templates , aiding in survey creation. Most importantly, they must contain relevant questions.
- Personalization : A 360 feedback tool should let you customize the surveys according to certain aspects of the particular set of employees like job titles.
- Confidentiality : One of the main features of 360 employee feedback is confidentiality and a good 360 feedback software should guarantee anonymity.
Winding Up!
Honest and unbiased feedback always provides a win-win situation for the growth of an enterprise. And when it comes to employee feedback and assessment, 360 feedback is undoubtedly the future. By collecting all-encompassed employee assessment feedback, you can find ways to improve the performance of your employees and even appreciate the efforts taken by them.
With so much in place, you take employee engagement a notch higher. When employees are notified of their strengths and weakness and encouraged to go beyond their current status, they are bound to be happier. Well, happier employees mean better quality of work and that means a happy you! So, go on select your ideal 360 feedback tool from the list and get set to take employee assessment to the next level.
Content Marketer at SurveySparrow
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What is 360 degree feedback process, features, pros & cons, introduction .
Table of Contents
Offering feedback plays a significant role in the growth and development of employees. It helps them to learn about their strengths and weaknesses, and they plan and progress their career accordingly. Today, we’ll discuss what is 360 degree feedback; how it works, its features, process, advantages, and disadvantages.
What is 360 Degree Feedback?
360-degree feedback also goes by the name of multi-rater feedback. It’s the system where you collect feedback from different people that have a working relationship with the particular employee in question. However, the word 360 degrees implies that you collect feedback from subordinates’ reports, peers, customers, stakeholders, supervisors, and managers. The goal is to gather views and opinions from various sources about the particular individual.
Companies use it as a developmental tool because it offers information in terms of the working relationship of employees, behavior, and their capabilities. The top management in the organizational hierarchy is usually the target. However, when you gather information from various sources, it offers you a more realistic view of the employee’s performance.
How 360 Degree Feedback Works
360-degree feedback is the process of analyzing employees’ performance both from the internal and external sources in order to gain better insight for future growth. Employees do self-evaluation by answering the following questions;
- What stops them from achieving their goals and objectives
- The success/failure they had faced during the last performance review
- The rating of their strengths and weaknesses
- Their working experience with managers and colleagues
Answering these questions would help them to self-analyze themselves, and then compare it with the external views of others. The external perspectives comprise reviews of customers, managers, peers, and other stakeholders. However, this feedback model offers a comprehensive performance review rather than the subjective evaluation of the manager alone.
That’s why employees have a changing relationship with their managers rather than their colleagues. Therefore, it’s significant to collect feedback from various sources.
Process of 360 Degree Feedback
When we talk about the 360-degree feedback process, then it has four main components, and they’re as follows;
Apply the Process
Before launching the 360 feedback in your organization, you should inform employees about this model, how it works, and answer their concerns. It helps you to develop a culture of transparency through the decision-making process.
Start the Round Feedback
First of all, you should select a person that would provide the feedback to the company’s employees, and then inform them about the process. You should use the HR software while crafting the 360-degree feedback questioner. The questions should be specifically relevant to the company. It makes sure that the outcomes are pertinent to your business, forceful, and add practical value.
Either the external agency or any trained professional would craft the questioners. They should be relevant and satisfy the company’s needs and requirements.
Evaluating the Feedback
You should recognize various sources and feedback providers and then evaluate their reviews accordingly. If you’re collecting it online, then it becomes much easier to analyze it. Digital media also offers you an opportunity to maintain the anonymity of senders.
Taking the Required Action
You should deliver the result to the employees, set objectives, and plan the roadmap in order to reach those goals. You should review it on regular basis. While doing so, you should keep in mind the following questions;
- While implementing the feedback, what part they liked it most
- What they’re learning from the feedback, and how they could respond to it effectively.
- The role of the feedback provider
- When to offer the feedback and the providing hierarchy
Just like any other process or system, the company should check and monitor the effectiveness of the feedback process. The line managers would evaluate the process and offer recommendations for further development.
Features & How to Offer 360 Degree Feedback
As we know that 360-degree feedback plays a significant role in the development of employees in the long term, then you should be careful about the following points;
Employees should remain anonymous while offering their reviews. If they think that their anonymity isn’t safe and they would have to face negative consequences, then they won’t share their honest views. They would omit the important facts while sharing their views.
Focus on Development
The focus of feedback questioners is to find out the capabilities of employees for professional development. It won’t work if the focus of the questioners is on the weaknesses of employees.
Relevance b/w Company & Employee’s Position
If you’re reviewing the performance of a particular employee, then the feedback data collected should be relevant. For instance, you should assess the performance of an IT professional relevant to the field of his expertise rather than his deal with the customers.
Performance Management & 360 Degree Feedback
When we talk about performance management, 360-degree feedback offers a very comprehensive review of the performance of employees. It’s a very good approach if you want a detailed review. However, it consumes a lot of time, and it’s not a good approach if you want to conduct it regularly. You should follow this approach if you want good feedback regularly.
The success of 360 Degree Feedback
The success of 360-degree feedback depends on two main factors, and they’re as follows;
First of all, everyone participating in it should have the right attitude. While providing feedback, they should in mind that the goal is not to point out mistakes and weaknesses of their colleagues, peers, seniors, or juniors. They should offer constructive feedback by accurately analyzing their strengths and weaknesses. How they can perform better by capitalizing on their strengths and avoiding weaknesses.
When employees receive the feedback, then they accept it openly instead of defending their weaknesses. By accepting their weaknesses, they can work on them and perform better.
Secondly, it’s not a good strategy to follow either when you’ve just hired a new position, or the company is going through a difficult phase. It would offer you negative and compromised results under such circumstances.
Advantages of 360 Degree Feedback
Some of the main advantages are as follows;
Many people participate in the process, and every individual would accept the feedback because it’s the collected voice of many people. Some of the people would be highly critical.
Greater Nuances
Every evaluating person would see other employees from a different and unique perspective. The final picture of the review would be very comprehensive, and it would point out many elements for development.
Objectivity
The final review doesn’t rely on the views of one person and that’s why it’s more objective. Colleagues and customers know you better than the biased views of the supervisor because they spend more time with you.
Disadvantages of 360 Degree Feedback
Some of the main disadvantages are as follows;
Sharing your views anonymously is a double-edged sword. It allows people to share their honest feedback openly without any fear. At the same, some destructive-minded people would jeopardize someone’s reputation in the camouflage of anonymity.
Time Consuming Activity
The process of feedback has many layers in terms of collecting feedback from various sources, compiling, and evaluating. It’s a very time-consuming activity.
Conclusion: What is 360 Degree Feedback? Process, Features, Pros & Cons
After an in-depth study of what is 360-degree feedback; its process, features, how it works, advantages, and disadvantages; we’ve realized that 360-degree feedback offers a very comprehensive review from various perspectives. If you want to implement it in your organization, then you should keep in mind its limitations. If your company could handle it, then go for it.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.
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ASC 360 Impairment Testing: Long-Lived Assets Classified as Held and Used
Issued in August 2001, Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 360, Property, Plant, and Equipment (“ASC 360”) addresses financial accounting and reporting for the impairment of long-lived assets and for long-lived assets to be disposed of. Specifically, ASC 360 requires that a company recognize an impairment loss if, and only if, the carrying amount of a long-lived asset (asset group) is not recoverable from the sum of the undiscounted cash flows expected to result from the use and eventual disposal of the asset (the “Recoverable Amount”) and if the carrying amount exceeds the asset’s Fair Value. If it is determined that an asset is impaired, the amount of the impairment is equal to the difference between the carrying amount of the long-lived asset and the Fair Value of the asset.
ASC 360 provides general guidelines as to when an asset (asset group) should be tested for impairment. Specifically, ASC 360 indicates that impairment testing should be completed whenever events or changes in circumstances indicate the asset’s carrying value may not be recoverable. Examples of such circumstances include a significant decrease in the market price of a long-lived asset, a significant adverse change in the extent or manner in which a long-lived asset is being used or in its physical condition, or a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset.
If there are indications that the asset’s carrying value may not be recoverable, there are two further steps involved in long-lived asset impairment testing. Step I of the impairment test, as per ASC 360, involves estimating the Recoverable Amount of the Asset Group and determining the potential for impairment. Step II of the impairment test, as per ASC 360, if necessary, involves quantifying the Fair Value of the Asset Group (i.e., financial assets, tangible assets, intangible assets, and liabilities, as applicable). These steps are discussed in detail in the latter part of this article.
Estimates of the future cash flows to be utilized in the impairment analysis include only the future cash flows that are expected to arise as a direct result of the long-lived asset (asset group) in question, whether through continuing use or through disposal. These estimates should incorporate management’s assumptions in regard to the future use of the asset and should be reasonable in relation to the assumptions used in developing other internal prospective financial information, such as budgets and projections. These estimates should cover the remaining useful life of the long-lived asset (asset group). However, if alternative courses of action to recover the carrying amount of a long-lived asset (asset group) are under consideration or if a range is estimated for the amount of possible future cash flows associated with the likely course of action, the likelihood of those possible outcomes should be considered. A probability-weighted approach may be useful in considering the likelihood of those possible outcomes.
Grouping Long-Lived Assets Classified as Held and Used
In order to perform a long-lived asset impairment analysis, the asset group needs to be determined. As defined in ASC 360-10-35-23, an asset group is the grouping of assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. In certain situations, a long-lived asset, such as a corporate headquarters, may not have identifiable cash flows that are independent of the cash flows of other assets and liabilities. When this is the case, the asset group for that particular long-lived asset is the entity itself.
Most long-lived assets do not generate cash flows independent of all other assets and liabilities of the entity. They are usually dependent on other complementary assets to generate cash flows and, because the unit of accounting for the impairment testing of long-lived assets is based on identifiable cash flows generated, the long-lived asset cannot be tested on its own. Instead the long-lived asset and the complementary assets are grouped together for impairment testing purposes.
As per ASC 360, for the long-lived asset impairment testing, goodwill should be included in an asset group to be tested for impairment only if the asset group is or includes a reporting unit. Goodwill should not be included in a lower-level asset group that includes only part of a reporting unit. Estimates of future cash flows used to test that lower-level asset group for recoverability should not be adjusted for the effect of excluding goodwill from the group. The term reporting unit is defined in ASC 350 as the same level as or one level below an operating segment. ASC 350 requires that goodwill be tested for impairment at the reporting unit level. Further, other than goodwill, the carrying amounts of any assets (such as accounts receivable and inventory) and liabilities (such as accounts payable, long-term debt, and asset retirement obligations) not covered by ASC 360 that are included in an asset group should be adjusted in accordance with other applicable generally accepted accounting principles (GAAP) before testing the asset group for recoverability. ASC 350-20-35-31 requires that goodwill be tested for impairment only after the carrying amounts of the other assets of the reporting unit, including the long-lived assets covered by ASC 360-10-35-27, have been tested for impairment under other applicable accounting guidance.
Indicators of Impairment
As per ASC 360-10-35-21: a long-lived asset (asset group) should be tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Data and analysis pertaining to the entity’s operations are the primary sources for determining if an indicator of impairment is present. An indicator of impairment can be defined as anything, such as a new event or circumstance, which could potentially result in the carrying value of the long-lived asset (asset group) not being fully recoverable. Examples of indicators of impairment, as discussed in ASC 360-10-35-21, include but are not limited to:
- A significant decrease in the market price of a long-lived asset (asset group)
- A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition
- A significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset (asset group), including an adverse action or assessment by a regulator
- An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset (asset group)
- A current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset (asset group)
- A current expectation that, more likely than not, a long-lived asset (asset group) will be sold or otherwise disposed of significantly before the end of its previously estimated useful life (the term “more likely than not” refers to a level of likelihood that is more than 50 percent)
Impairment analysis is only required (i.e., test the asset group for recoverability and impairment loss) when an indicator of impairment is present. If no indicator is present, the entity is not required to perform any further steps in the impairment testing process. It is the responsibility of the entity to regularly assess whether there are indicators of impairment present for an asset group.
Step I – Test for Recoverability
If indicators of impairment are present, the entity must then determine whether the carrying amount of the long-lived asset (asset group) is recoverable. This is done by comparing the total undiscounted future cash flows of the long-lived asset (asset group) to its carrying amount. If the total undiscounted future cash flows exceed the carrying amount of the asset (asset group), the carrying amount is deemed recoverable. If the opposite is true, and the carrying amount is not recoverable, an impairment loss for the long-lived asset can be recognized. The carrying amount of an asset group is the aggregate of the carrying amounts of the individual assets included in the asset group. Goodwill is only included in the asset group if the group is or includes the reporting unit with goodwill.
The total undiscounted cash flows, as defined in paragraphs 29 and 30 of ASC 360-10-35, include only the future cash flows that are directly associated with and that are expected to arise as a direct result of the use and eventual disposal of the asset (asset group). These estimated future cash flows for a long-lived asset (asset group) should be made for the remaining useful life of the primary asset of the group. The estimates should incorporate the entity’s internal assumptions about how they intend to use the asset (asset group) in the future. These assumptions should be within reason in relation to assumptions used in the past. However, if alternative methods of recovering the carrying amount of the long-lived asset (asset group) are being considered or if a range is estimated for the amount of possible future cash flows associated with the likely course of action, the likelihood of those possible outcomes should be considered. A probability-weighted approach should be considered when estimating the likelihood of those possible outcomes.
Step II – Measurement of an Impairment Loss
If the carrying amount of a long-lived asset (asset group) is deemed to be unrecoverable, an impairment loss needs to be estimated. In order to calculate the impairment loss, the Fair Value of the asset group must be determined. Fair Value referenced here is determined using the guidance in FASB ASC Topic 820, Fair Value Measurement (“ASC 820”). Fair Value, as defined in ASC 820, is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For long-lived assets (asset groups) that have uncertainties both in timing and amount, an expected present value technique will often be the appropriate technique with which to estimate Fair Value. ASC 820 prescribes that the measurement of the Fair Value of an asset or liability should be based on assumptions that market participants would use when pricing the asset or liability. The long-lived asset impairment testing process relies upon a number of key concepts referenced in ASC 820, including unit of account, exit price, valuation premise, highest and best use, principal market, market participant assumptions, and the Fair Value hierarchy, which form the foundation of the Fair Value measurement approach.
Once the Fair Value of the asset group is determined, it is compared to the carrying amount of the asset group in order to derive an impairment loss. The excess of the carrying amount of the long-lived asset (asset group) over its Fair Value should be recognized as the impairment loss. Once the impairment loss is recognized, the adjusted carrying value becomes the long-lived asset’s new cost basis and should be depreciated over its remaining useful life.
Other Considerations
Primary Asset for the Asset Group
The primary asset is the principal long-lived tangible asset being depreciated or intangible asset being amortized that is the most significant component asset from which the asset group derives its cash flow-generating capacity. The primary asset of an asset group therefore cannot be land or an intangible asset not being amortized. Factors that an entity generally should consider in determining whether a long-lived asset is the primary asset of an asset group include the following:
i. Whether other assets of the group would have been acquired by the entity without the asset
ii. The level of investment that would be required to replace the asset
iii. The remaining useful life of the asset relative to other assets of the group (if the primary asset is not the asset of the group with the longest remaining useful life, estimates of future cash flows for the group shall assume the sale of the group at the end of the remaining useful life of the primary asset)
Allocating Impairment Losses to an Asset Group
As stated in ASC 360-10-35-28, in a scenario where an impairment loss is calculated, only the carrying amounts of a long-lived asset or assets of the group are decreased by that impairment loss. The loss should be allocated to the long-lived assets of the group on a pro-rata basis using the relative carrying amounts of those assets, except that the loss allocated to an individual long-lived asset of the group should not reduce the carrying amount of that asset below its Fair Value whenever that Fair Value is determinable without undue cost and effort.
Adjusted Carrying Amount Becomes New Cost Basis
As stated in ASC 360-10-35-20, if an impairment loss is recognized, the adjusted carrying amount of a long-lived asset should become its new cost basis. Further, if the long-lived asset is depreciable, the new cost basis should be depreciated/amortized over the remaining useful life of that asset. Restoration of a previously recognized impairment loss is not allowed.
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Opinion article, 360° virtual reality: a swot analysis in comparison to virtual reality.
- 1 Institute for Health and Sport, Victoria University, Footscray, VIC, Australia
- 2 Maribyrnong Sport Academy, Melbourne, VIC, Australia
- 3 Faculty of Health Sciences, Ontario Tech University, Oshawa, ON, Canada
Introduction
With advancement in technology and more interactive nature of the available technology, the use of applied technologies such as Virtual Reality (VR) is increasing at exponential rates in both academic and applied settings ( Düking et al., 2018 ; Faure et al., 2020 ). VR is defined as simulations of a real or imaginary environment, where a participant can both perceive and interact with the environment ( Craig, 2013 ). This presents virtual simulations in different formats such as flat or curved large screen displays, Cave Automatic Virtual Environment (CAVE) (where participants are in a room surrounded by a screen) and head mounted displays (HMD). Examples of VR include a baseball batting simulator ( Gray, 2017 ) and virtual handball goalkeeper ( Vignais et al., 2015 ) with the virtual simulation opponents designed using complex motion capture systems. Given the rise of this technology, Düking et al. (2018 ) recently assessed VR for use in athletes through a SWOT analysis (i.e., strengths, weaknesses, opportunities and threats) identifying VR as appropriate for certain sporting areas, but more development of technology is needed to be more realistic.
A similar technology is 360°VR (also known as immersive video; Panchuk et al., 2018 ). Where VR involves virtual characters sourced through motion capture systems, 360°VR uses real-world footage filmed from a 360° camera. Both 360°VR and VR present the stimulus through a HMD, which allows the participant to scan, increasing the level of “presence” where the participants feel they are immersed in the environment ( Slater, 2018 ; Bird, 2020 ). 360°VR has been labeled a suitable “middle ground” between VR and existing screen-based video occlusion technologies ( Fadde and Zaichkowsky, 2018 ). This is because participants can scan in the 360° environment, but as they are watching real world video, cannot interact with the environment as in VR. Although VR and 360°VR are similar technologies, this paper highlights the distinct differences between the two, given their contrasting strengths and weaknesses. Figure 1 briefly illustrates the strengths, weaknesses, opportunities, and threats of 360°VR technology.
Figure 1 . Summary of key findings from SWOT analysis.
In recent years, 360°VR has been examined as a method to both assess ( Kittel et al., 2019a ) and train sport-specific decision-making skill ( Panchuk et al., 2018 ; Pagé et al., 2019 ; Kittel et al., 2020 ). Efficacious training of decision-making skills is imperative, as research indicates that decision making skills distinguish between elite and novice performers ( Mann et al., 2007 ; Kittel et al., 2019b ).
As 360°VR uses real-world footage rather than virtual scenarios, decision-making is more realistic than VR. Research has demonstrated a higher level of perceived game-likeness in decision-making processes of 360°VR than more common screen-based approaches (e.g., match broadcast video) ( Kittel et al., 2019a ). This infers greater ecological validity of 360°VR as the perceptual information is more similar to the competitive environment ( Araujo et al., 2007 ). Tasks with stronger representativeness and/or ecological validity elicit more significant expert-novice differences and lead to stronger transfer effects of training to gameplay ( Farrow et al., 2018 ; Hadlow et al., 2018 ). Given the stronger game-likeness and ecological validity, participants view 360°VR to be a more enjoyable and relevant training tool than existing screen-based approaches ( Kittel et al., 2020 ). This is an important consideration given high rates of burnout and dropout in competitive youth sport ( Eime et al., 2019 ).
From a theoretical viewpoint, 360°VR is more representative of the competitive environment due to the higher levels of fidelity, which is defined as how much a simulation replicates reality ( Alessi, 1988 ; Farrow, 2013 ). Firstly, psychological fidelity refers to how life-like the simulation is perceived by the participants (i.e., higher game-likeness outlined above), and physical fidelity is the extent the simulation looks like the real competitive environment ( Stoffregen et al., 2003 ; Lorains et al., 2013 ). The first-person viewpoint provides a more accurate representation of in-game perceptual information and higher levels of fidelity than third-person ( Craig, 2013 ). Physical fidelity is achieved through real-world footage, which overcomes a significant weakness of VR using virtual environments ( Düking et al., 2018 ).
The higher psychological and physical fidelity outlined above contributes to stronger visual correspondence of perceptual information received in-game ( Pinder et al., 2015 ). This links to the concept of ecological validity above where simulations should be as game-like as possible in their presentation. Where there is stronger psychological fidelity, participants are more likely to have similar gaze behaviors and attentional focus to certain cues ( Gray, 2019 ). Behavioral correspondence is another important consideration for representative tasks ( Pinder et al., 2011 ; Hadlow et al., 2018 ). This is achieved through the head movements, which unlike screen-based technology, automatically update when wearing a HMD to scan the 360° environment ( Craig, 2013 ). As Craig (2013) outlines, head movements afforded through a HMD do not disrupt the optic flow similar to actual competition.
Theoretically, the stronger representativeness and ecological validity have led to some positive improvements following training studies ( Panchuk et al., 2018 ; Pagé et al., 2019 ; Kittel et al., 2020 ). These studies, however, are preliminary methods and can be expanded on in future studies to further investigate the effectiveness of this technology.
The strengths of 360°VR technology overcome significant weaknesses of VR technologies such as creating realistic environments and the financial development costs. As discussed by Panchuk et al. (2018) , most sporting organizations (e.g., lower-budget youth, amateur, sub-elite) do not have the financial capacity to hire external software developers to design virtual content.
When designing perceptual-cognitive tasks, it is important to consider perception-action coupling ( Craig, 2013 ; Hadlow et al., 2018 ). For example, an athlete might need to intercept a ball ( Brault et al., 2015 ) or tackle an opposition player ( Brault et al., 2012 ). By incorporating perception-action coupling, this is more naturalistic and representative of the performance environment, allowing for more realistic training opportunities than pointing at a screen or verbalizing their response ( Craig, 2013 ). This is an example of action fidelity, defined as the similarity between the participant's physical response/action between the off-field (experimental) and on-field (performance) settings ( Pinder et al., 2011 ). Incorporating perception-action coupling into 360°VR is more difficult than VR, given participants are viewing pre-recorded video rather than interacting within a virtual space. As such, 360°VR has been labeled as “read-only” ( Fadde and Zaichkowsky, 2018 ). This has led to most studies requiring a verbal response when making a decision ( Kittel et al., 2019a , 2020 ; Pagé et al., 2019 ). Panchuk et al. (2018) mimicked a motor response by requiring basketballers to hold a basketball, and then imitate a passing or shooting action at the point of the decision.
In contrast to the ability of VR to freely manipulate scenarios to individualize training ( Düking et al., 2018 ; Faure et al., 2020 ), 360°VR currently has limited capability to do so. In current training studies ( Panchuk et al., 2018 ; Pagé et al., 2019 ; Kittel et al., 2020 ), there is a “one-size fits all” approach without the individualization of training.
Motion sickness may be an issue, causing one participant to drop out of a study ( Panchuk et al., 2018 ). Although each of the 360°VR training/testing studies outlined have used stationary footage, expensive high stability systems are required if there is a moving camera ( Litleskare and Calogiuri, 2019 ). Recent studies have required participants to sit down while watching 360°VR to avoid motion sickness ( Pagé et al., 2019 ; Kittel et al., 2020 ). Although Panchuk et al. (2018) allowed participants to stand up, they were constrained to remaining in the same place. When participants are viewing 360°VR through a HMD, they can only view what is in their field of view on the HMD, not their immediate environment. As current technology does not allow participants to move within a 360°VR environment, researchers and practitioners should consider presenting scenarios that do not require dynamic movement from the participant. For example, 360°VR simulations may involve participants scanning for information around them, rather than moving to intercept a ball or opponent such as VR ( Brault et al., 2012 ). The limited amount of movement in 360°VR to VR is a consideration that future technological developments may overcome.
When developing decision-making for basketball athletes, studies have used scripted plays ( Panchuk et al., 2018 ; Pagé et al., 2019 ). Although this may be an effective and efficient way to capture the required videos, this may not be the most representative way to capture scenarios in other invasion sports, such as Australian football or Rugby, that involve significant physical contact and may be difficult to simulate. This can be overcome by capturing videos of competitive small-sided game activities ( Kittel et al., 2019a ), but no scripting leads to other limitations, such as limited clip scenarios and a large bank of videos.
Finally, the videos required for 360°VR are significantly larger in file storage size than screen-based video such as match footage. If plays are not scripted when recording, this requires a large bank of 360°VR videos with significant file sizes. Although software is constantly developing to accommodate large file sizes, researchers and practitioners must be aware of the storage limitations associated.
Opportunities
A significant opportunity for 360°VR is the limited financial costs of this technology in comparison to VR ( Düking et al., 2018 ). 360°VR technology is freely available from retail stores at accessible prices ( Panchuk et al., 2018 ). Only elite organizations may have the financial capacity to afford VR systems, 360°VR is more available to a wider range of sporting organizations at sub-elite, amateur and youth levels.
As highlighted above, one of the limitations of 360°VR is that it is “read-only” ( Fadde and Zaichkowsky, 2018 ), where this technology may limit the perception-action loop. This presents an opportunity for a considerable market such as sporting officials around the globe. Sporting officials do not complete a motor action such as a pass or intercept, but verbalize their decision. This has led to research interest in the area of sporting officials such as Australian football umpires, demonstrating promising findings of this technology ( Kittel et al., 2019a , 2020 ). As Australian football umpires have high movement within a dynamic environment and 360°VR is currently captured with a stationary camera, this technology may be more beneficial for less dynamic officials such as tennis or cricket umpires. This may open the avenue to sporting officials' organizations across the globe to test and implement 360°VR technology for training and development.
Developing technology can greatly assist 360°VR to progress in coming years. Given current studies have used stationary footage in their methods ( Panchuk et al., 2018 ; Kittel et al., 2019a ; Pagé et al., 2019 ), a more representative method would be to implement moving footage as athletes and officials typically make decisions while moving. Further investigation of stabilizing techniques and the potential impact on motion sickness ( Litleskare and Calogiuri, 2019 ) is a consideration for sport-related research.
Where suitable, methods may look to capturing first person 360°VR in competitive game scenarios. As this is competitive performance rather than mock drills or small-sided games, this would increase fidelity. This would allow for greater levels of presence, where participants are immersed within their natural competitive environment ( Slater, 2018 ). Adopting this approach would optimize the visual correspondence and therefore representativeness of this technology ( Hadlow et al., 2018 ). Use of 360°VR first-person game footage may allow other forms of training such as reflective learning, similar to existing protocols in education ( Walshe and Driver, 2019 ).
Finally, 360°VR may include haptic and movement information such as vibrations and noise, similar to VR approaches ( Düking et al., 2018 ). This would strengthen the representativeness of this technology.
Immersive environments such as 360°VR and VR have the ability to cause motion sickness ( Litleskare and Calogiuri, 2019 ). Research indicates VR induces motion sickness more in females ( Munafo et al., 2017 ). Future studies may consider whether there is a similar effect in 360°VR. It should be noted females have effectively used this technology in previous training studies ( Panchuk et al., 2018 ; Pagé et al., 2019 ), suggesting it may be appropriate to use. Future studies should investigate whether any gender-based differences exist for motion sickness in 360°VR. If motion sickness has a significant impact, researchers and practitioners must explore the financial trade-off of expensive video stabilizing technology ( Litleskare and Calogiuri, 2019 ).
Fadde and Zaichkowsky (2018) outline that there are sometimes conflicting goals of the sport scientist and the coach/athlete. For example, sport scientists consider the validity of tools such as 360°VR, yet it is important to consider the financial cost, complexity and degree to which athletes and coaches accept new applied technologies. The battle to win acceptance by coaches and athletes is akin to other technologies, similar to VR ( Düking et al., 2018 ).
Further refinement of VR approaches may lead to virtual simulations being more realistic, which is a current limitation of VR ( Düking et al., 2018 ). With technological advancements potentially making VR more realistic, 360°VR may no longer be considered an effective option. Therefore, 360°VR should continue to progress to allow movement and include features to increase realism such as noise and haptic feedback.
In summary, 360°VR appears to be a promising applied technology for assessing and developing decision-making skill in sport. Given decision-making skill has the ability to distinguish between performance levels of athletes ( Mann et al., 2007 ) and officials alike ( Kittel et al., 2019b ), research must refine methods to develop decision-making skill. Significantly, 360°VR may be considered a more representative tool given the theoretical underpinning outlined in this paper ( Hadlow et al., 2018 ). This SWOT analysis should outline for practitioners whether 360°VR may be a suitable applied technology for their athletes to use in developing their decision making skill. Practitioners and researchers should be aware of the limitations outlined, with the possibility that technological advancements may overcome some of the present limitations.
As outlined by Düking et al. (2018 ), SWOT analyses have their limitations and are subjective in nature. However, it is anticipated the findings of this paper will assist researchers and practitioners in determining the suitability and feasibility of 360°VR for their chosen sport. 360°VR may be an attractive applied technology for training decision-making skills at all sporting levels including elite, high performance youth and amateur, given the financial accessibility in comparison to more expensive VR technologies.
Author Contributions
AK wrote the article. PL, IC, and MS all helped with the conceptual idea and editing.
Conflict of Interest
The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.
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Fadde, P. J., and Zaichkowsky, L. (2018). Training perceptual-cognitive skills in sports using technology. J. Sport Psychol. Action 9, 239–248. doi: 10.1080/21520704.2018.1509162
Farrow, D. (2013). Practice-enhancing technology: a review of perceptual training applications in sport. Sports Technol. 6, 170–176. doi: 10.1080/19346182.2013.875031
Farrow, D., Reid, M., Buszard, T., and Kovalchik, S. (2018). Charting the development of sport expertise: challenges and opportunities. Int. Rev. Sport Exerc. Psychol. 11, 238–257. doi: 10.1080/1750984X.2017.1290817
Faure, C., Limballe, A., Bideau, B., and Kulpa, R. (2020). Virtual reality to assess and train team ball sports performance: a scoping review. J. Sports Sci. 38, 192–205. doi: 10.1080/02640414.2019.1689807
Gray, R. (2017). Transfer of training from virtual to real baseball batting. Front. Psychol. 8:2183. doi: 10.3389/fpsyg.2017.02183
Gray, R. (2019). “Virtual environments and their role in developing perceptual-cognitive skills in sports,” in Anticipation and Decision Making in Sport , eds A. M. Williams, and R. C. Jackson (New York, NY: Taylor & Francis; Routledge), 342–358. doi: 10.4324/9781315146270-19
Hadlow, S. M., Panchuk, D., Mann, D. L., Portus, M. R., and Abernethy, B. (2018). Modified perceptual training in sport: a new classification framework. J. Sci. Med. Sport 21, 950–958. doi: 10.1016/j.jsams.2018.01.011
Kittel, A., Larkin, P., Elsworthy, N., Lindsay, R., and Spittle, M. (2020). Effectiveness of 360° virtual reality and match broadcast video to improve decision-making skill. Sci. Med. Football . doi: 10.1080/24733938.2020.1754449. [Epub ahead of print].
Kittel, A., Larkin, P., Elsworthy, N., and Spittle, M. (2019a). Using 360° virtual reality as a decision-making assessment tool in sport. J. Sci. Med. Sport 22, 1049–1053. doi: 10.1016/j.jsams.2019.03.012
Kittel, A., Larkin, P., Elsworthy, N., and Spittle, M. (2019b). Video-based testing in sporting officials: a systematic review. Psychol. Sport Exerc. 43, 261–270. doi: 10.1016/j.psychsport.2019.03.013
Litleskare, S., and Calogiuri, G. (2019). Camera stabilization in 360° videos and its impact on cyber sickness, environmental perceptions, and psychophysiological responses to a simulated nature walk: a single-blinded randomized trial. Front. Psychol. 10:2436. doi: 10.3389/fpsyg.2019.02436
Lorains, M., Ball, K., and MacMahon, C. (2013). An above real time training intervention for sport decision making. Psychol. Sport Exerc. 14, 670–674. doi: 10.1016/j.psychsport.2013.05.005
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Munafo, J., Diedrick, M., and Stoffregen, T. A. (2017). The virtual reality head-mounted display Oculus Rift induces motion sickness and is sexist in its effects. Exp. Brain Res. 235, 889–901. doi: 10.1007/s00221-016-4846-7
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Panchuk, D., Klusemann, M. J., and Hadlow, S. M. (2018). Exploring the effectiveness of immersive video for training decision-making capability in elite, youth basketball players. Front. Psychol. 9:2315. doi: 10.3389/fpsyg.2018.02315
Pinder, R. A., Davids, K. W., Renshaw, I., and Araújo, D. (2011). Representative learning design and functionality of research and practice in sport. J. Sport Exerc. Psychol. 33, 146–155. doi: 10.1123/jsep.33.1.146
Pinder, R. A., Headrick, J., and Oudejans, R. R. (2015). “Issues and challenges in developing representative tasks in sport,” in The Routledge Handbook of Sports Expertise , eds J. Baker, and D. Farrow (New York, NY: Routledge), 269–281. doi: 10.4324/9781315776675-24
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Keywords: virtual reality, immersive 360° video, decision making, representative learning design, sport
Citation: Kittel A, Larkin P, Cunningham I and Spittle M (2020) 360° Virtual Reality: A SWOT Analysis in Comparison to Virtual Reality. Front. Psychol. 11:563474. doi: 10.3389/fpsyg.2020.563474
Received: 18 May 2020; Accepted: 02 September 2020; Published: 07 October 2020.
Reviewed by:
Copyright © 2020 Kittel, Larkin, Cunningham and Spittle. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) . The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
*Correspondence: Aden Kittel, aden.kittel@live.vu.edu.au
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360-degree feedback: Definition, benefits, and examples
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What is 360-degree feedback?
Pros and cons of 360-degree feedback, how to use 360-degree feedback, examples of 360-degree feedback, what is the purpose of 360-degree feedback, who is involved in 360-degree feedback, 360-degree appraisal vs. 360-degree feedback.
Feedback is a key element to keeping your employees engaged and motivated at work. And 360-degree feedback, or multi-rater feedback, is growing in popularity. This type of feedback gives a view of employee performance from different people. So peers, managers, and direct reports provide anonymous employee feedback.
When done right, 360-feedback has a host of benefits. These include strengthening accountability and collaboration among teams and reducing biases . But this kind of feedback isn't without its flaws.
We'll unpack those later, but first, let's look at what 360-degree feedback is and how it can benefit your business.
It's still standard for employees to only receive structured, formal feedback from their manager. And this is usually during an annual performance review . In fact, for many companies, feedback is synonymous with the yearly performance evaluation.
In addition to this feedback cycle, 360-degree feedback provides extra insight. As we noted earlier, multi-rater feedback facilitates anonymous input from various sources related to an employee. It usually involves eight to 10 people, all chosen because they work closely with a given employee.
They receive a curated survey or questions about employees' work ethic, work style, competencies, and areas of improvement. These questions also leave space for written answers. This space allows all reviewers to give extra context and specific examples to support their feedback .
Getting more frequent and constructive feedback from different viewpoints can help your employees grow. It's also been shown to improve the employee experience as workers feel more appreciated.
Questions and written answers can run the gamut given the breadth of insight 360-degree feedback offers. Here are some examples of the kind of feedback raters can give:
- Creativity : "This person often seeks out ways to improve our current processes and offers new ideas to streamline our work."
- Communication : "This coworker has a hard time listening to other people's ideas. They rarely provide context or evidence to support their decisions and instead prioritize their own ideas."
- Teamwork : "This person helps delegate tasks and organize the team during group projects. They put forth their best effort promptly, so other team members have time to deliver their work as well."
As you can see, responses can be candid or vague. So, once this information is collected, it's essential to review and organize it strategically.
.png?width=800&name=1%20(2).png "what is 360 analysis")
No review system is perfect. Just like other systems, 360-degree feedback has its benefits and drawbacks. Let's look at the pros and cons of 360-degree feedback.
Benefits of 360-degree feedback
- Strengthens company culture and builds trust in an organization
- Helps leaders use recognition to shift company culture
- Provides nuanced perspectives to help conquer bias in the workplace
- Fosters teamwork across departments
- Helps employees feel more appreciated and recognized
- Improves employee accountability and productivity
360-degree feedback and bias
One significant benefit of 360-degree feedback is how it can combat managerial or team bias. According to Deloitte's 2019 State of Inclusion Survey, bias continues to be a big issue for many companies:
- A reported 68% of people say bias negatively impacted their productivity
- 84% say that bias impeded their happiness , confidence, or well-being
- 70% say that experiencing or witnessing bias negatively impacted how engaged they felt at work
Experiencing or witnessing bias can create a hostile work environment . And unfortunately, over 60% of employees feel bias is still present in their workplace . There's room for improvement here.
360-degree feedback can help employees receive fairer and more balanced assessments.
.png?width=2084&name=2%20(2).png "what is 360 analysis")
Downsides to 360-degree feedback
While there are many benefits to 360-degree feedback, there are still some critical drawbacks that you shouldn't overlook. Creating a 360-degree feedback structure can be challenging. And a poorly developed program may damage team and employee morale .
Some cons of 360-degree feedback include:
- Encouraging competition, leading to jealousy or hurt feelings
- Anonymous ratings without commentary can increase insecurity and damage trust in teams
- Being too focused on weaknesses or negativity
- Lack of follow-up and support by a coach or manager to empower the individual to use data to improve
- Taking a lot of time and resources to garner, anonymize, and sort through feedback
Balancing the pros and cons can help you decide if 360-degree feedback is a good fit for your organization.
Survey questions looking for 360-degree feedback can give managers deep insight into how employees work. Areas of inquiry include employee communication, leadership , teamwork, and conflict resolution abilities .
This information is then often used in one of two ways:
1. As an employee development tool
Such insight is helpful for managers to see where employees excel and to see their areas of improvement. This can clarify if there's a better opportunity or skillset needed for that particular employee to thrive. In short: which skills can they develop, and what do they already do well?
2. Performance management
A 360-degree feedback system can also be used as part of a more extensive performance management system . It is not advised, though, as this can erode trust between employees over time.
Also, 360-degree feedback focuses on competencies rather than the ability to fill their role's requirements . So it may not offer the best data to make an informed decision.
360-degree feedback in action
Regardless of how managers use the information, most 360-degree feedback initiatives follow the same basic steps.
- After project completion, managers ask team members who worked closely with one another, including peers, and other managers, for feedback.
- Raters receive pre-designed questionnaires via email.
- Respondents anonymously complete the questionnaires. They share the employee's strengths, weaknesses, opportunities, and wins on the project via these forms.
- Human resources collects the data and creates a report showing common themes, recognition, and feedback from the reviews.
- A manager reviews the feedback report with their employee to create a plan for ongoing leadership development.
Ideally, this process is a comfortable one for all parties. Hopefully, the employee feels acknowledged, recognized, and less intimidated by the constructive criticism provided.
.png?width=800&name=3%20(2).png "what is 360 analysis")
This type of feedback has benefited teams for some time. But its value has grown thanks to this new normal .
Now that remote work is the norm , leaders may not have a clear picture of where their employees are thriving and where they can improve. That makes 360-degree feedback a considerable asset for any organization from today forward.
Plus, 360-degree feedback has a range of social and psychological benefits:
- Helps team members identify strengths and weaknesses
- Develops stronger working relationships with colleagues
- Employees feel more comfortable in an open and transparent work environment
- Reduced imposter syndrome and related workplace insecurities
- Can boost employee engagement by seeking input from all levels or the organization
But 360-degree feedback does not only help employees. It can also help leaders make better career development plans. The insight into team dynamics helps managers develop more effective training plans . This leveling up of current employees addresses skill gaps and can boost retention.
.png?width=800&name=4%20(2).png "what is 360 analysis")
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For 360-degree feedback to be most effective, it has to come from various sources.
Asking people from all levels and teams to contribute feedback for an employee is the best way to go. It offers a well-rounded view of what it is like to work with that person. Plus, it can ensure that employees get the recognition they deserve for work that might otherwise go unrecognized.
A 360-degree feedback program can involve the following people:
- The employee under review
- Their manager
- Their subordinates
- Their colleagues
- Their business partners or customers
Typically, eight to 10 people make up a 360-degree review. More raters can help maintain anonymity and provide a more nuanced view of an employee.
After a project, it may be more beneficial to get 360-degree feedback from a business partner or customer. However, during a review period, input from a direct report or colleague may be more valuable. There is usually a self-reviewing component for the employee in both cases.
Each rater receives an anonymous feedback form with different questions. These questionnaires detail what an employee did well and where they could improve.
Using customized employee feedback surveys gives a well-rounded view of each employee. They also better reflect the relationship between the reviewer and the reviewer.
.png?width=800&name=5%20(2).png "what is 360 analysis")
Facilitating 360-degree feedback with company culture
Leadership can use an effective 360-degree feedback tool here. It can facilitate getting formal, anonymous feedback from direct reports, managers, and peers.
However, 360-degree feedback goes well beyond using the right software and processes. Integrating multi-source feedback programs calls for a culture shift, too.
Creating a culture where employees get honest feedback can reduce bias, boost employee confidence, and increase transparency. Constructive feedback , given at the right moment, benefits employee development and career advancement. Positive feedback is also proven to have positive business outcomes.
A 360-degree feedback process also makes it easier for team members to acknowledge one another. It creates space for additional acknowledgment, leading to more engaged, empowered employees.
While 360-degree appraisal has its value, it’s often not as effective or appreciated as 360-degree feedback.
360-degree feedback can be given or received at any time and often is less biased since it involves an employee’s work on a specific project.
A 360-degree performance review, however, is more formalized. It's usually during a review period when employee pay and compensation are part of the conversation .
While many employees find 360-degree feedback to be helpful, they often feel wary of 360-degree performance evaluations. But, that doesn’t mean 360-degree feedback has no place in yearly reviews.
Collecting 360-degree feedback throughout the year can help prepare for performance reviews. When an employee receives feedback year-round, they can incorporate it more quickly.
With ongoing 360-degree feedback, employees can reflect on their year during performance review time. Plus, managers have a resource to recall what employees worked on throughout the year and see how they progressed.
Yearly reviews are a vital time to set new goals and recognize employees for their growth. 82% of employees see recognition as an important part of happiness at work. 360-degree feedback offers more frequent recognition, so employees are inspired to do their best. However, 360-degree appraisals don’t often have the same effect.
Turn 360-degree feedback into an actionable development plan
360-degree feedback can be a helpful tool to foster teamwork and offer employee recognition. This multi-source feedback program can help your company create more relevant and personal and professional development plans for team members.
If peer-to-peer feedback isn't common in your company, 360-degree feedback is a helpful tool. Use it strategically to shift how your employees relate to and connect with one another.
Maggie Wooll
Managing Editor
20 employee feedback survey questions — and tips to get started
Up your work motivation by finding the value behind the task, democratic leadership style: how to make it work as a team, how to turn generational differences into employee retention, a how-to guide for building an effective operating model, reactive vs. proactive management styles: which one gets results, how to develop google's top 7 leadership competencies, how to implement peer to peer learning in the workplace, employee relations: an overview and best practices, stay connected with betterup, get our newsletter, event invites, plus product insights and research..
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What is 360 Degree Customer View and How Does it Benefit Your Business?
Today’s customers put a great emphasis on personalization. They want businesses to provide a customized experience according to their likes and preferences.
This demand once used to be quite a hectic task, but thanks to concepts like 360-degree view , it is easier than ever to offer personalized services.
This article will talk about the 360-degree view and how it can help your business make a mark, answering questions such as :
- What is 360-degree customer view?
- What does a 360-degree customer view tell?
- Why is a 360-degree customer view so important?
- How can I achieve 360-degree customer view?
WHAT IS 360-DEGREE CUSTOMER VIEW?
Moreover, a 360-degree client view means a strategy to enable businesses to offer customers the best experience across all channels. It allows different touchpoints to come together, allowing the business to ensure customer satisfaction at every stage of the process.
Businesses need a 360-degree client view to aid their customers. Companies employ various techniques, including customer interactions and feedback, to get the soft and hard customer data underlying the 360-degree customer view.
WHAT DOES A 360-Degree Customer View TELL?
Like a crystal ball, a 360-degree customer view gives excellent insights into the present, past, and future.
The client 360-view shows his or her interactions with your services or products in the past. You will be able to see a customer’s buying history, including:
- Service or product activity
- All past interactions
- Product views
- Process history
- Marketing and sales campaign activity
The Present
Present data gives a customer a 360-degree view that gauges where a client stands in the buying cycle. Organizations get information such as:
- The background of the buyer
- Current or pending queries or issues related to the customer service
- The context behind customer-business interactions
- The customer’s involvement with the organization
- Current or pending customer orders
A client’s 360-degree view, comprised of past and present data, offers insights into the future. When you start a business, you want to grow it, using data from a client 360 view for the long haul.
A company uses the customer data they have gathered to build long-term relationships with clients. Moreover, the business finds tools and information to cross-sell and upsell opportunities.
WHY IS A 360-DEGREE CUSTOMER VIEW SO IMPORTANT?
A 360-degree view of a customer provides a business with a lot of valuable information that can benefit it in the long run. Four benefits of a 360-degree customer view include customer alignment, improvements in predictive analysis, customer loyalty, and improvements to the bottom line.
Customer Alignment
A business needs customer alignment for long-term relationships and to retain clients through necessary steps. After all, it is easier to retain a client than it is to gain a client.
Businesses can achieve customer alignment by using a reliable CRM tool that gives a 360-degree customer view. Such a tool promotes easy sharing of information between departments and streamlines business processes to better customer experience.
Improvements in Predictive Analysis
A business relies on predictions, such as the expected number of buyers and when a product or service will be in high demand. Incorrect analysis can lead to significant problems, including wastage of resources and shortages.
Having access to valuable and reliable information from a 360-degree client view gives a business the foundation to make educated predictions more easily. A company can learn:
- How likely their customers are to purchase a product or service.
- How likely their customers are to cancel a purchase or return a product.
The client’s 360-degree view reveals behavioural information and demographic knowledge, giving a business valuable information regarding user responses and broader trends.
Access to such client information will improve predictive analysis, allowing the business to prioritize what’s important.
Customer Loyalty
The overall customer experience represents the number one differentiator to keep – well above the product’s price or other economic transaction.
Spending money on gathering customer data for a 360-degree client view can be an investment. But customers prefer to buy from a business that fully caters to them. Plus, some clients may even pay more for a product that offers a personalized experience.
Businesses need to make sure they improve service to keep customers loyal and not just the product. Customers place huge importance on the business delivery of their products and services.
According to reports, a customer is 4x more likely to switch products if he or she is not satisfied with the service. Customer interactions make big of a difference in most cases.
Improvements to the Bottomline
The 360-degree customer view allows businesses to improve ROI on marketing campaigns, thus helping the bottom line. It does so by not only increasing customers but also by reducing costs.
Having access to hard and soft data gives the 360-degree client view needed for a business to decide the best route to reach a customer, thus reducing wastage. For example, suppose you do online marketing, and you know that most of your customers come through Facebook. In that case, you can spend more time and money advertising on Facebook than wasting money on other social media platforms.
A 360-customer view benefits the marketing department and customer service, production, and supply chain departments, among others. Hence, the 360-client view helps the entire business by ensuring all the departments work together to achieve the end goal or bottom line (like satisfied customers or a profitable business).
HOW CAN I ACHIEVE 360 DEGREE CUSTOMER VIEW?
Since a 360-degree customer view relies on good data processes, you will need to take care of the following three factors:
- The Collection of Data: Make sure to collect as much data as you can. Different businesses use different ways to collect data. Find out what works best for you.
- The Management of Data: Correct data management means customer information should be clean and organized. WinPure Clean & Match can be very valuable in this regard. After all, bad customer data can negatively influence your business. Hence, you will find it important to use reliable tools to keep it clean.
- The Analysis of Data: You will find data collection and management useless if you cannot analyze your customer data. Find data scientists to ensure you can gather valuable information from the data you have collected.
Related Reading: Master Data Management Guide
A 360-degree customer view can help your business in a lot of ways.
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The $700-A-Month Portfolio Building Strategy For Retirement - Part 7/360
- This is part 7 of our continuing series on Seeking Alpha.
- We are on a journey to make over $1M by investing just $700/month for 30 years.
- At the end of our 6th month, we are up 8.5%.
- This is an excellent exercise in basic options trading and long-term portfolio management.
- We are not doing an in-depth analysis of stocks each week - when we add new stock, we will look deeply into it, but for adjustments - please refer back to our original entries.
Before we get into our $1M Portfolio, let's look at our hedges.
S&P 500 Chart with 5% Rule (Stockcharts.com)
We last reviewed our Short-Term Portfolio on Valentine's Day, when the S&P 500 opened at 4,126 but we had already made our adjustments in our Live Member Chat Room on the 7th, when the S&P hit 4,176 which did, in fact, turn out to be the high for the month. That left us with nothing to change on the 14th, and the portfolio was at $3,888,503 and, this morning, after not being touched since, it's at $4,069,493, which is up 1,934.7% in 3 years and up $180,990 in just over two weeks - which is how you end up being up 1,934%, of course…
Short-Term Portfolio (philstcokworld.com)
Keep in mind we are 85% in CASH!!! at the moment and the value of our positions on the 14th was only $537,375 so the active positions have gained 33.6% on a 3% drop in the S&P - that's the key to good hedging. We have close to $6M in downside protection in this portfolio and that's more than we have in long positions so we're a bit bearish overall but, on the other hand, our longs will make far more than enough to cover the losses on our hedges should we find ourselves too bearish - it's a great balance and we'd hate to mess it up - so we are being very cautious when adding new longs.
Knowing how to hedge is like knowing how to apply the brakes in your car. If you don't know that, you can only drive very slowly for fear of crashing into something or flying off the side of the road on a curve. The ability to brake opens up a whole new world of possibilities in your driving and in your investing - it allows you to move faster towards your goals, confident in your ability to make adjustments.
Unfortunately, we have not yet hedged our $700/Month Portfolio and we're taking our first loss this month. Months 1 , 2 , 3 , 4 , 5 and 6 are available for review. This is an opportunity to learn our portfolio-building strategies step by step that, hopefully anyone will be able to follow.
Our goal in this portfolio is to show our Members how to use slow, steady, simple options strategies to amass over $1M over 30 years by investing just $700/month ($252,000). If you can apply this discipline in your early working years - your retirement will be a breeze.
Our goal is to make 10% a year on our investments and, though it has only been 6 months - the portfolio is up 8.5%. That's a pace of 17% per year and, if we did that for 30 years, we'd have $6,440,776.90. No, I'm not kidding, you can do the math right here ! Don't expect to keep up that pace - we'll have ups and downs along the way and this portfolio doesn't attempt to time the market - it's just off to a good start.
When we started the portfolio (Aug 25th), the S&P 500 was at 4,000 and now we're at 3,996, so essentially flat. Nonetheless, we made 8.5%. That's the magic of using options and our Be the House - NOT the Gambler strategy, even when you play very conservatively, you can still make nice gains in a flat market.
As with all our portfolios, the returns tend to accelerate as our positions mature and we are still comfortably ahead of expectations, which is very nice in a no-margin portfolio.
Last month, we added 32 more shares of NLY and that was unfortunate timing because NLY has since fallen from $24 to $20 and we went from up $49 to down $202 on that position. Apparently they are cutting their dividend and we have no choice but to take the loss and sell the position.
$700/Month Portfolio (philstockworld.com)
We have $1,000 of margin requirement on the CIM puts and $500 on the SOFI puts and the cash on hand is $2,314 plus the $1,260 we will get from selling the NLY position - leaving us $3,574 less $1,500 is $2,074 to spend!
Before adding new positions, we should check to see if the old positions need any love:
CIM - I would jump all over these but they have the same management team as NLY so maybe cuts there too. I'm not worried about being assigned 200 shares at $5 (net $3.40) so not going to change it but it's a bit premature to jump in with more.
T - We could add a put here, that's tempting. The 2025 $20 put is $3.05 so we'd get $305 in cash and be obligated to buy net $1,695 more T. The return on margin in the non-margin account is only 18% over 2 years - we can do better.
SOFI - I do love them and they haven't gotten away yet so worth considering.
As to potential new stocks:
- B2Gold Corp ( BTG ) is a gold producer with a 5% dividend at $3.58, which is $3.8Bn and they make $350M so p/e about 11. They also have $600M in the bank and we like gold as a hedge.
- Nokia ( NOK ) is still alive and more of an equipment service provider these days. $4.68 is $26Bn and they make about $2.5Bn so 10x but just a 1.79% dividend. They do have $4Bn in cash though - I like that!
- Global Ship Lease ( GSL ) is a container ship leasing company who are paying a 7.3% dividend against their $20.70 stock ($751M cap) but they made $274M last year and expect to grow about 20% this year - so a nice little company.
- Barclays ( BCS ) is from our Watch List at $8.32, which is $32.5Bn but they make $5Bn so 6x is stupidly low. They pay 4.1% and actually have $16Bn laying around on top of that - half of their market cap!
- Ford ( F ) is back in consideration at $12.56, which is $50Bn and they made $6Bn last year and should bump 10% this year. I'm pretty sure, 30 years from now, you'd be kicking yourself for not buying this one. Dividend is a nice 5% too. $95Bn in debt is the dark cloud but autos, inventory, etc. - it's kind of normal.
- FutureFuel ( FF ) is one of my favorite small caps. $8.67 is $380M and they made $23M so 16.5x with a 2.5% dividend but then they paid a special 0.30 (3.4%) dividend in December - a nice bonus. They also have $185M in cash - half the valuation.
- Petrobas ( PBR ) - Would be great but the Government forces them to essentially give oil away to Brazilians. Even now, they are trying to sell assets and the Government is interfering. In a riskier portfolio, I don't mind but not here.
- SunPower ( SPWR ) - Hard to not add our stock of the decade at $15.09, which is only $681M and they made $45M last year and should make close to $60M this year. No dividends but huge growth potential as the solar industry expands.
- Tronox ( TROX ) - Specialty materials are always fun and sales are up to $3.2Bn from $1.8Bn in 2018 and profits are $220M but $16.42 is $2.5Bn so call it 12x. 3% dividend as well.
- trivago ( TRVG ) - Travel is picking back up and $1.76 is $600M and they expect to make $60M this year so 10X is underpriced. No dividends but fun options.
As we have the extra money and as SPWR is our Stock of the Decade and it's only 2023 and our target is $50, not $15 (we started at $5 and already cashed out our original plays at $50) and, as the options are CRAZY - let's add SPWR to our portfolio as follows:
SPWR Daily Chart (Finviz.com)
- Buy 5 SPWR 2025 $15 calls for $5.70 ($2,850)
- Sell 5 SPWR 2025 $23 calls for $3.20 ($1,600)
This spread is costing us net $1,250 of our $2,074 buying power. It's a $4,000 spread so the upside potential is $2,750 (220%) in two years - you've got to love that!
This will leave us with $824 to spend and I think that's enough to adjust SOFI a bit more aggressively and what we will do is:
- Buy (to close) 5 SOFI 2025 $5 calls at $3.09 ($1,545)
- Sell 7 SOFI 2025 $7 calls for $2.40 ($1,920)
- Buy 2 (7 total) SOFI 2025 $3 calls for $4.18 ($836)
That's net $461 spent and we've gone from a $1,000 spread at net $422 to a $2,800 spread at net $883 so our upside potential has increased from $578 (136%) to $1,917 (217%) by modestly adjusting our target in an already successful spread.
That still leaves us with $363 to carry over to next month!
This article was written by
Disclosure: I/we have a beneficial long position in the shares of NLY, CIM, T, SOFI, F, FF, TRVG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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