Current Employment Trends and Their Implications for Business, Society, and Individuals
February 12, 2025
Changing Nature of Work and the Trends in Employment The world of work is changing. Part Time and Freelance employment has grown whereas stable and secure jobs that last an employee’s lifetime in one organization are scarce. If the Baby Boomers were expected to work all their lives in at most two or three jobs, […]
Welcome to the talent economy! With the changing perception of organizations and increasing appreciation for talent, it won’t be wrong saying that we have transported into the talent economy. Though the shift has been taking place for many decades, the last decade, however, altered the scenario seemingly in the blink of the eye. The C-suite […]
If you ask me for the guidelines for talent management, my response would be the following: Developing employees. Redeploying employees. Retaining the best talent. Yes, the prime focus of talent management is enabling and developing people, since the quality of an organization is determined by the people it employs and has onboard. After hiring and […]
As discussed in previous articles, it is very important to evaluate the benefits of the training and be able to put that in terms of numbers. Training comes at a cost and therefore any organisation would be interested in knowing the return on investment (ROI). Organisations use different methods to assess the benefits of training […]
Individuals who are creative love to do things differently. They seldom blindly follow what others have done in the past but believe in creating their own concepts and ideas. Creativity and entrepreneurship go hand in hand. Let us first go through a case study: John was working with ABC industries as sales executive. His role […]
360 degree feedback is also known as multi-rater feedback or multi-dimensional feedback or multi-source feedback. It is a very good means of improving an individual’s effectiveness (as a leader and as a manager). It is a system by which an individual gets a comprehensive/collective feedback from his superiors, subordinates, peers/co-workers, customers and various other members with whom he interacts.
The feedback form is in a questionnaire format, which contains questions that are significant to both individual as well as organization from performance aspect. It is filled by anonymous people. The number of people from whom feedback is taken can range from 6 - 20.
The individual’s own feedback is also taken, i.e., he self-rates himself and then his rating is compared with other individuals ratings. Self ratings compel the individual to sit down and think about his own strengths and weaknesses.
The primary aim of a 360 degree feedback is:
It must be noted that the assessment of individual by other people is subjective.
A 360-degree feedback is challenging, promoting and analytical. It should not be regarded as ultimate and concluding. It is a beginning point. Self-assessment is an ongoing process.
360 degree feedback provides a comprehensive view of the skills and competencies of the individual as a manager or as a leader. The individual gets a feedback on how other people perceive and assess him as an employee.
360 degree feedback is beneficial to both an individual as well as organization. It leads to pooling of information between individual and other organizational members. It encourages teamwork as there is full involvement of all the top managers and other individuals in the organization. It stresses upon internal customer satisfaction. It develops an environment of continuous learning in an organization.
Based on a 360 degree feedback, the individual goals and the group goals can be correlated to the organizational strategy, i.e., the individual and the group can synchronize their goals with the organizational goals.
The feedback must be confidential so as to ensure it’s reliability and legitimacy. The feedback must be accepted with positivity and an open-mind. The effectiveness of the feedback must be evaluated and analyzed on a regular basis.
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