360-Degree Feedback in the Appraisal Process †the Present Need for Banks in India

360-DEGREE FEEDBACK IN THE APPRAISAL PROCESS THE PRESENT NEED FOR BANKS IN INDIA * Dr. J. SRINIVASAN universe Tremendous changes save taken place macrocosm-wide in the last decade. These changes establish had a strong impact on service sectors in India. The world is very different today from what it was a decade ago.Todays corporate world can be characterized as highly competitive, engineering and systems-driven, customer-centered, quick, cost and quality conscious, to survive, whizz has to compete with those who have technological advantages, pecuniary advantage, systems advantages, communication advantages, and above entirely, those with sight advantage. Success of the individual in the field of study place demands collaborative social intercourseships with superior, colleagues and inhibits, and can seldom be adequately assessed whole by the superior.Further, an individuals individualal growth answer requires bearing and constructive feedback on ones ability and w eaknesses. The 360-degree feedback or Multi-rater sagaciousness has become a worldwide phenomenon. It was extensively use as the Indian Institute of Management, Ahmedabad in India form mid eighties though the marches 360-degree feedback was coined in USA in early nineties. This tool has become a popular change focal point tool and leadership competence-building tool. This is evident from the study in the subjugate of Indian companies adopting it. writ of execution appraisal has come to convey a pivotal place in human resource function. The handed-down merit rating which focused on soulfulnessality traits was replaced by carrying into action appraisal with focus on name moderates. In order to work appraisal more(prenominal)(prenominal) __________ * Assistant Professor of Commerce, Arignar Anna Government Arts College, Cheyyar 604 407. netmail email&160protected co. in objective, transp arnt and participative, concepts such as self-appraisal, pear appraisal, subordi nate appraisal and appraisal by customers twain knowledgeable and external were introduced. signification 60-degree feedback is a work on by which an individual gets his/her aggregated feedback from different categories of individuals- seniors (boss, report officer, reviewing officer), subordinates, cultivate and in take away reporters, peers (colleagues and internal customers), external customers and suppliers, and other role/ punctuate members with whom he/she is interacting. The 360-degree feedback cognitive process is an grievous development to enrich human resources, governmental development and training and development. Traditional process assessment has mostly been special by the perspective of the immediate reporting and reviewing superiors.In contrast, the 360-degree feedback broadens the canvas dramatically. It returns a wider and more realistic forum for frank evaluation by contain reports, peers and others, resulting in new motivating and direction for th e people. As a result of this, people can move towards companys goals more apace and with greater precision. Though people may express initial jot of be assessed by superiors, subordinates, colleagues and others, in actual practice many favor to be assessed by a group who see their surgical process from a variety of perspectives, rather than from the limited perspective of their immediate superiors.They find 360-degree feedback as more accurate and fair. The 360-degree feedback process involves collecting perceptions about a persons behaviour and the impact of that behaviour from the persons superiors, direct reports, colleagues, fellow members of project team ups, internal and external customers, and suppliers. Multi-source feedback encourages openness and raises expectation, leading people to believe the organizational value, continuous dealing and honesty. The 360-degree feedback process should be interconnected with the strategic perspective verses derived from the bala nce scorecard framework.Most organizations appear to be using this process for ? leading development (implementing their leadership models or reinforcing the same) ? item-by-item growth and development ? Competency building ? R arely or neer for Performance Appraisals, rewards and recognition, collecting data on employees, succession intentning and flight development. Considerations before starting 360 degree feedback 1. Purpose It is central that people are clear about why this process is being used and what it is being used for.The purpose require to be clearly and consistently communicated to all those involved. 2. Culture Organizations need to understand whether the organisational gardening supports this process and allows open feedback. The 360-degree feedback process relies heavily on the inputs of others so participants and raters need to feel comfortable and back up when taking part in this process. 3. Timing Identifying when to introduce 360 degree feedback is an all- all important(p)(prenominal) consideration. It is not appropriate to introduce it during periods of downturn or when redundancies or re-organizations have been announced.During these periods, staffs are more likely to be feeling threatened and implicated about the organizations intentions and therefore resistant to new feedback processes. 4. rove out Consider having a senior manager acting as a sponsor or champion of 360-degree feedback. This can greatly raise its success and generate buy-in in to the process. It is overly important to involve staff as early as possible in the implementation of 360-degree feedback as it prevents secrecy and the feeling that this has been imposed on them. 5. ConfidentialityIt is important to guarantee confidentiality for participants both subjects and raters. Make sure the model you are using run acrosss this happens so that the feedback is not attributable to individual raters. The 360 degree process 1. Self-assessment Self-assessment e ncourages the individual to take responsibleness for his or her own development and is a useful starting repoint in the 360-degree feedback process. Consideration needs to be given to the purpose of this data and how it is used as rise as who has access to this data and how dour is it held for. . The raters Identifying the most appropriate people to rate the cognitive process of the individual is a key part of the process. ideally the recipient will have lavish involvement in identifying who they think is in the best position to mark on their performance. The raters must(prenominal) be credible to the recipient for them to act on the resulting feedback. 2. 1 Number of raters The assessment has to be based on a large enough sample to ensure that it is valid. If too small, there is a danger that one raters view will have a major impact on the overall results. to 12 respondents are usually sufficient in terms of reliability. 3 The questionnaire The design of the assessment, reporting and feedback process should suit the purpose of the exercise. It needs to describe the behaviours, which relate to actual railway line performance. It should relate to existing measurement systems within your area, such as competencies. It alike needs to be in line with Citys shade and values. The questionnaire needs to be relevant to the raters and their day-to-day involvement with the individual.A well-designed questionnaire should gallop respondents the opportwholey to indicate where they have not had the opportunity to observe behaviour, or where the behaviour is not relevant to the job, so as not to advertize them to guess. Ideally the questionnaire should take between 15 and 30 minutes to complete. 3. 1 Qualitative and denary data The most in effect(p) questionnaire design is one that encompasses both quantitative as well as qualitative elements. The quantitative elements provide the structure and the qualitative questions provide the context. Feedback strateg y It is important to consider what feedback is communicated and how and when this takes place. 4. 1 Feedback report Feedback usually consists of a report. The design of the report should be kept simple and ideally designed to help the individual priorities their sexual intercourse strengths and development areas. Given that an individual is receiving sensitive information about how their colleagues, direct reports and manager view their performance, sensitivity is essential. somewhatone must be procurable to help return the results with that person. . 2 Trained facilitators As 360-degree feedback is being used as part of the appraisal process, feedback is communicated face to face. The people self-aggrandizing the feedback (appraisers) must have had the relevant training to give them the skills to support this process. 4. 3 When feedback is communicated Ideally the individual receives feedback as soon as possible after that feedback has been collated. It is important to ensure that people receive it when there is support available to interpret the results e. g. s part of a supportive appraisal process. 3. Evaluation 3. 1 Purpose Evaluating the impact of 360-degree feedback is an important part of determining its success. This is especially important if you have pi mussinessed this process and are considering rolling it out to other areas and/or are repeating the process. 3. 2 Measures Impact can be careful at both the organisational and individual level. This can include succeeding(a) up with participants about their views on the process as well as measuring the impact it had on their development plans.On an organisational level, monitoring key performance indicators will determine whether targets have been met more closely side by side(p) the cornerstone of 360-degree feedback. Implementation of 360-Degree Feedback Process in Banks The implementation is typically done by ? Creating acceptance of the process with the individual to be evaluated. ? Con ducting a self-evaluation with the individuals. ? Identifying the appropriate turn of events of persons who will participate in the 360-degree feedback process. ? Conducting the evaluations with the employees, superiors, peers and subordinates. Analyzing the collected information to identify consensus on strength and weakness of the evaluated individuals. ? Meeting with the evaluated individuals to discuss the 360-degree feedback results and to develop a self-development plan to overcome personal deficiencies to meet the challenges. ? Conducting periodic evaluations of the individual. Objectives of 360-degree feedback or Multi-rater Appraisal and Feedback dust (MAFs) The assessment is made on a questionnaire specially designed to measure leadership styles, managerial qualities, impact and other behaviors considered fine for performance.Such feedback from multiple sources provides a credible picture and can be used for divers(a) purposes like Providing insights into the strength s and developmental areas of the candidate in terms of the effective performance of roles, activities, styles, traits, qualities, competencies (knowledge, attitudes and skills), impact on others etc. Enhancing role clarity and establishing increased accountabilities. recognition of developmental needs and preparing development plans more objectively in relation to the current or future roles and performance improvements for an individual or a group of individuals. Leadership phylogenesis. Generating data for various personnel decisions (provided it is decided initially that the feedback is not meant only for the person but also to be divided up completely with the organization) Culture building and reinforcing other change management efforts and organization effectiveness directed interventions. This may include TQM efforts, Customer focus or internal customer satisfaction enhancing interventions, Flat structures, Quality enhancing and cost trim back interventions, process ch anges etc. Aligning individual and group goals with organizational ken, values and goals. Planning internal customer satisfaction improvement measures. This review generally supplements the traditional appraisal system and does not replace it. Benefits of 360-Degree Feedback 360-Degree feedback offers several advantages. Some of these include Benefits to Banks It provides a more objective and acceptable feedback. Very effective for developing leadership and other competencies considered critical for performing various Leadership and Managerial roles effectively. Serves as a team-building tool as it is more involving and participative Promotes a culture of openness Promotes total quality with emphasis on internal and external customer orientation Results in better quality of HR decisions for training and rewards Helps in identification of competency gaps and planning development interventions It is a good supplement to normal appraisals but not a allayer to them. Benefits t o the individual Serves as a team-building tool as it is more involving and participative Helps to bump if your impact on others within the organization is in the desired vogue/direction Enhances self-awareness Helps discover strengths, weaknesses and blind spots Provides direction for change and development Focuses attention on actions and behaviours valued by others thereby improving work relations Helps discover areas where you have not yet made a significant impact. Ingredients for the Success of 360-Degree Feedback in Banks 360-degree feedback systems can be very sensitive. A person who is not well prepared for it can be thrown and twisted out of balance. If not designed and conducted well, it has the potential danger of developing scathe perceptions or notions.It is therefore necessary and important to manage the process well and make it foolproof. The first important step is to determine if the organization is diligent for it. The second important step is to determi ne if the candidate is ready for it. The following are the indicators of a Banks readiness for 360-Degree Feedback. The hand management of the bank is committed to develop the competencies of employees on a continuous basis. HRD systems operating(a) in the bank being taken seriously in implementation. The squeeze management is willing to invest their time and effort in giving feedback to their own subordinates. The top management is adequately committed to competency-building by means of 360-Degree Feedback. sight take feedback supportively and use it for development. The Bank already is or is in the process of becoming a customer-driven organization. The HRD department has a high degree of credibility. The following are indicators to assess the readiness of a candidate for the 360-Degree Feedback ? The candidate has a desire to know himself through the eyes of others. ? The candidate desire to be better. ? The candidate should be a learning-oriented individual. The candid ate is receptive and respects the views of others. TVRLS have it away with 360-Degree Feedback TVRLS has covered over 3000 top-level managers so far from various organizations involving virtually 30,000 assessors. look conducted by them to study the effectiveness of 360-degree feedback in enhancing overall effectiveness of top &038 senior management shows the following predominant changes They begin to focus more on leadership roles such as * Articulating vision and sharing it more systematically * Spending more time on communicating vision &038 goals * Being more developmental as against benevolent or critical * Paying more attention to and showing concern for individual needs rather than being preoccupied with ones own ideas and issues. compound Internal customer orientation, which is indicated by * amend interaction with colleagues and subordinates * Learning from colleagues and benefiting from their experiences * building better rapport with seniors Increased focus on fostering team spirit which gets reflected in terms of * Setting high goals for the team * to a greater extent participative management * Better conflict management * Higher mutuality and more receptive to feedback * Increased sensitivity to others feelings * Creating a more collaborative culture * Cross-functional review mechanism getting instituted Marked increase in committee and subordinates development in terms of * Empowering subordinates to take higher responsibilities * Leaving social occasion decisions to lower levels * Not nterfering in matters being handled by subordinates * Encouraging subordinates to learn from their mistakes and being patient with them Predominant behavioural changes have been reported in terms of * Becoming assertive * Clear communication * Higher gap * Being more patient * Being more proactive * Better time management In terms of the impact on their unit/department/org anization, participants who responded felt that the changes they demonstrated post feedback, have generated increased motivation especially among their subordinates.In addition, increased sensitivity to their managerial and leadership roles has resulted in better working relationships and, a more congenial atmosphere. How to prepare for implementing 360-Degree Feedback in Banks It takes a lot of trust in the bank and a lot of preparations before one can more from using 360-degree feedback strictly for development purposes to using it for taking decision on promotions and rewards. Most current belles-lettres on making 360-degree feedback effective as a tool for performance and leadership-style reviews has this to recommend. ? Begin with Development ? Link with Company Goal ? Train Everyone ? descend Up ? Company Culture. Drawbacks Not every process is perfect and 360-degree feedback programs are no exception.Subordinates may rate bosses high because they are afraid of retaliation. Peers endure to evaluate each others positively well, perhaps to nullify disrupting the group. On the other hand, peers tend to rate their colleagues on the lower side. Nevertheless, the number of people and variety of perspectives involved in a 360-degree feedback process should ensure a generally unbiased and accurate view of a persons performance. Conclusion A 360-degree feedback process in banks gathers information, usually through a questionnaire, about the performance of employees or managers from people all around them-including peers, subordinates and even customers.This type of multi-perspective evaluation is more complete and accurate than the traditional top-down evaluation. Superiors only see a portion of a mangers performance. They need other perspectives to fill in the blanks. Subordinates can provide important information on the leadership qualities of a manager. Customers are in a better position, than anyone, to evaluate how employees perform with customers. A 36 0-degee feedback evaluation is also valuable because people do not act the same toward everyone. The interpersonal skills of a manager are probably more accurately reflected in feedback from subordinates or peers than in feedback from a mangers superiors. Another important aspect of 360-degree feedback is the inclusion of self-evaluations.Ratings by others will probably be more accurate, but self-evaluations force employees and managers to sit down and think about their strength and weakness. Finally, 360-degree feedback evaluations have the advantage of confidentiality. Top-down evaluations are usually not confidential. Supervisors must be prepared to defend their evaluations, which may cause them to soften or in some way alter what they might have say anonymously. Since 360-degree feedback involves groups of raters, the results are anonymous. *********** References 1. Jim Meade. Visual 360 A Performance Appraisal System Thats Fun, HR Magazine, July 1999, pp. 119-122. 2. Mishra, S hishir and Nandini Chawla. Deriving Training Needs from 360 Degree Feedback, TVRLS, Ahmedabad, 2003. 3. Paras Mal Jain. humanity Resource Management in Banks, IBA Bulletin, October 2004, Vol XXVI, No. 10, Mumbai. p. 17-21. 4. Rao T V &038 Raju Rao. The king of 360- Degree Feedback, Response Books, A department of Sage Publications, tonic Delhi. (2005). 5. Rao T V . HRD Audit, 9th Edition, Response Books, A division of Sage Publications, New Delhi. (2005). 6. Rao T V. Making 360 Degree Feedback Work, Human Capital, August, 1999. 7. Rao T V. Performance Management and Appraisal Systems-HR Tools for Global Competitiveness, Response Books, A division of Sage Publications, New Delhi. (2004). 8. Rao T V. Readings in Human Resource Development, Oxford &038 IBH create Co. Pvt. Ltd, New Delhi. (2005). 9. Sangwan D S. Human Resource Management in Banks, IBA Bulletin, June 2005, Vol XXVII, No. 6. Mumbai. p. 14. 10. Tripathi P C. Human Resource Development, 5th Edition, sultan Chand &038 S ons, New Delhi. (2006). 11. 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