Developing employees and a constructive feedback culture is a must for modern companies. More often, companies are using HR software tools as part of their performance review process to track direct reports’ performance and help create actionable feedback. What is 360-degree feedback software, and how can it help your business? If you’re an HR professional, manager or small business owner curious about this new solution then this guide will provide answers.
We’ll explain what 360-degree feedback software is, what features it should have, how to choose the right one for your business and why Actus 360 Feedback Software might be the one for you.
What is 360 Feedback Software?
In a nutshell, 360-degree feedback software is a performance management tool to simplify and streamline the process of collecting multi-rater feedback and tracking employee performance for individuals within an organisation. This personal development tool can be used alongside traditional employee evaluations or replace them since it offers a well-rounded view of employees’ performance.
Unlike traditional performance reviews which rely on a manager’s single perspective, this software is designed to collect feedback from multiple sources including peer feedback, direct reports and managers. This software can also be used to request feedback from employees about company culture and provides a safe space to provide upward feedback to management. Employees can provide feedback and drive continuous improvement. It offers a chance for self-assessment, employee growth, and for senior leaders to improve their leadership skills and self-awareness.
Why is 360-Degree Feedback Software Valuable?
360-degree feedback software goes beyond simple performance reviews by allowing HR professionals and organisations to manage the whole performance management process, from creating employee feedback surveys to detailed reporting. By creating a continuous feedback process, you can create development initiatives, determine leadership effectiveness, and identify development opportunities in your organisation.
It’s a great way to get a more accurate picture of an individual’s performance, gauge employee engagement, identify critical competencies to build on and areas to improve, and gather feedback. You can gain a better understanding of your employees from multiple perspectives and use the data to create each individual’s development plan. For organisations looking to create a culture of continuous career development, 360 feedback software is a valuable resource.
What Features Should Good 360 Feedback Software Have?
Not all 360 feedback software is the same. Pay attention to the features offered to ensure you’re selecting the right performance management solution for your needs. Here are a few to look out for:
1. Customisation Options
Every organisation is different, so your 360-degree feedback software should be able to adapt to your needs. Look for:
- Questionnaires: Questionnaires should be customisable, and you should be able to create your own feedback forms or select from editable templates. You may prefer to set your own rating scales or offer the option for anonymous feedback to help ensure you receive honest feedback.
- Branding (e.g. your organisation’s logo and colours): Customise the user interface and forms.
- A broad range of software integrations, email messaging and automated workflows: Make sure the software you choose integrates with the other tools your organisation already uses to help make the entire process seamless.
2. Comprehensive Feedback Reporting
Detailed and easy-to-use reporting is important for getting the most out of the feedback collected. Good software should have:
- Individual feedback reports to give actionable insights to participants
- Organisational reporting to help HR teams and external stakeholders see trends, key metrics, growth areas and opportunities
3. User Experience
The process for giving feedback should be easy for both administrators and participants, and results should be easy for them and key stakeholders to interpret. Choose software with a simple, intuitive interface and minimal learning curve.
4. Scalability
Whether you’re a small business or a growing enterprise, the software should scale easily to accommodate your team size and future growth. The software should be capable of tracking employee experience and engagement insights across multiple departments and levels within your organisation.
5. Support and Training
Consider whether the software provider offers adequate training, support, and consultancy to make implementation seamless and maximise its impact.
How to Choose the Right 360 Feedback Software for Your Business
With so many options available, it can be difficult to choose the right software. Here are some factors to consider:
Organisation Size
- Small Businesses may prefer off-the-shelf solutions that are low-cost and quick to implement. If your organisation is growing, consider how many employees will need to be accounted for.
- Mid-sized enterprises may require more customisation and advanced features for different departments.
- Large Companies or consultancies may need enterprise-grade solutions with advanced analytics and scalability.
Your Budget
Buying new software is a business decision. While it’s easy to go for the cheapest option, prioritising value is important. Think about the ROI in terms of time saved, employee development and organisational culture for multiple stakeholders throughout many review cycles.
Complexity
Some software solutions have advanced features that smaller organisations may not need. Make sure the chosen platform meets your needs, but is also user-friendly for your team.
Why Actus 360 Feedback Software?
Now that you know what to look for, why should Actus 360 Feedback Software be on your list? Actus offers flexible, high-quality solutions for organisations of all sizes and industries. Here’s what sets us apart:
Actus 360 NOW
This off-the-shelf product is for businesses that want simplicity and ease. With branded interfaces, 7 competency templates and bespoke feedback questionnaire options it’s a great entry point into 360 feedback.
Actus 360 Feedback and Survey
For mid-sized businesses that require more advanced features, Actus has a fully customisable option. This includes integrated surveys, organisational benchmark reporting and consultancy services to develop templates aligned to your company’s cultural goals.
Actus 360 Managed Service
Limited resources? Actus has a managed service option that takes care of the whole process for you from survey set up to report delivery. This is for businesses that need long term or occasional support.
Consultant Support
Actus also has a version of the platform for independent consultants. It’s a way to add value to your services while keeping it simple and professional with your clients.
Consultancy Services
Actus knows that the value of 360 feedback lies in the interpretation. Their consultancy services ensure feedback is delivered constructively and to professional development goals.
Conclusion
Implementing 360 feedback software into your business can be a game changer for employee development and organisational growth. Remember, the right software isn’t just about features it’s about finding a solution that meets your goals, budget and culture.
Actus 360 Feedback Software is the one to beat in this space, with user-friendly, customisable solutions for all organisations. Whatever you choose, their off-the-shelf product, advanced integrated module or managed service, Actus has everything you need to run a 360 feedback process.
