If you normally review the performance of your management staff every year, then you may want to improve this process. Doing all the review work yourself may take up a lot of your time, and you may feel that you don't have all the information you need to assess your managers as comprehensively as you'd like.
Switching to a 360-degree review system may help. This system uses feedback surveys that are given to other people in your company who work with your managers, such as their peers and their subordinates. How will this system help you and your company?
1. Find Out What You Don't Know
If you review your managers, then your reviews are generally based on your perception of them as individuals and the work they do. While this is all valid stuff, you may not have the whole picture whenever you give your annual performance reviews.
Asking people who work with and for each manager for their opinions simply gives you more information. It tells you how other people perceive each individual and the work they do. This gives you a more complete picture of each individual and how well, or even badly, they fit into their role.
2. Reward the Right People
If you have a more complete picture of how each of your managers fits into your company, then you may find it easier to make decisions about the outcome of their reviews. For example, say you have two managers who you are considering for promotion. You like them both and they both seem to do their jobs effectively.
However, when you look at your 360-degree feedback surveys, it becomes apparent that one of the managers works hard and nurtures their team while the other is less invested, takes credit for other people's work and cuts corners. Having this depth of information may help you decide on who to promote in this instance.
3. Improve Below-Par Performance
360-degree feedback reviews can also help you identify managers who may need extra help. You can spot areas of weakness and take any necessary steps to improve them. For example, if the feedback you get on a manager is that they work too hard and find it hard to delegate tasks to their team, then you can talk to them about spreading the load more evenly. You can even arrange for them to have some training if you think that would help. As well as helping the manager, this is also likely to improve things for their team members who might appreciate having a little more responsibility.
If you're interested in trying out manager 360 feedback reviews in your business, talk to consultancies with experience of administering these surveys. They can talk you through other benefits and help you set up a system.