There has been a massive recalibration of expectations of all boards and senior executives (not just in Financial Services) in relation to how organisations
|A 360 feedback survey tailored to an organisation’s leadership framework helps leaders improve self awareness and drives effective leadership development.
Organisations looking to refine or improve leadership development capability can gain from 360 feedback:
- insights into where capability gaps exist through a confidential process
- personal feedback as to how emotionally aware a person is as a leader, setting them on the path to action
- information to help target spend, inform change initiatives and maximise ROI
Hold leaders accountable
When sensitively handled by an external provider, 360 feedback survey results promote self-awareness and improve emotional intelligence. This will help leaders make the leap from acting as managers to becoming real leaders.
The 360 feedback survey allows HR managers to hold leaders accountable by:
- helping to establish a leadership capability baseline for the organisation
- creating a personal leadership development plan that HR and leaders can agree on, and
- using this development plan as the basis for improving leadership and performance
Where senior leaders have already acquired buy-in from the executive team, the 360 feedback survey can help senior leaders and HR to facilitate cultural change.
Build trust before driving change
When an organisation runs a 360 feedback survey, ensuring the survey results are “owned” by the individual is critical. It may be that the survey results are also held by a trusted external party and/or HR. However, it is important for the process to be signed off, communicated and made transparent to all parties before a 360 feedback survey begins.
To drive change a 360 feedback survey needs to lend to a development plan for the individual. Agreeing on the process and the objectives of the survey up front ensures that individuals know who they will share their results with for the purpose of creating an actionable and effective development plan.
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