360 Degree Feedback for Managers
As well as an assessment tool, the 360-degree feedback method allows managers to receive feedback from their direct reports, managers, supervisors, peers, as well as partners and customers. Many 360-degree assessments are completed by individuals for their own evaluation.
The feedback from this survey provides managers with an opportunity to understand how their performance as a supervisor, colleague, employee, or peer is perceived by others. The purpose of an effective feedback procedure is to provide feedback that is based on behaviors that other employees can observe. In addition to providing feedback, organizations gain a clear understanding of the behaviors and skills they need to achieve their vision, mission, and goals, and to live according to their values. An organization’s commitment to exceeding customer expectations is firmly rooted in this information.
The people who provide feedback to the manager, i.e., the raters, are jointly selected by the manager and the organization. The raters are usually the individuals who interact regularly with the manager being evaluated. An objective of 360-degree feedback is to provide managers with actionable information about their strengths and weaknesses, and to provide information regarding their work that requires improvement.
Debated are going in the organization about how to:
- Decide on the feedback process and tools
- Select the raters
- Review the feedback provided
- Accept and confirm the feedback
- Utilizing feedback to develop an individual
ADVANTAGES OF 360-DEGREE FEEDBACK
Jack Zenger reports that more than 85% of Fortune 500 companies use 360-degree assessments as part of their leadership development program. The following are some positive features identified by companies who have used 360-degree assessment feedback for their employees.
The team can work more efficiently when feedback is provided. A multi-rater feedback system makes them more accountable since they know they will be providing feedback for each other. The feedback process can enhance team development and communication.
Personal and organizational performance development
360-degree feedback is one of the most effective methods for understanding your personal and organizational needs. It is possible for you to comprehend what motivates your employees to work together and what impacts their success because of your organization’s policies, procedures, and approaches.
Career development responsibility
Employers are no longer responsible for the career development of their employees for a variety of reasons. Employers are increasingly required to provide an environment that fosters employee career growth and development. In addition, many employees feel that this feedback process is a more accurate method of providing feedback than simply receiving an appraisal from their supervisors. As a result, the assessment is more relevant to a person’s career and personal development.
Reduced risk of discrimination
A reduction in discrimination occurs when feedback is provided by employees on different levels, regardless of age, race, gender, etc. This will also reduce the “halo” effect, in which a supervisor evaluates an employee based on recent performance.
Enhanced customer service
Every employee receives feedback regarding the service or product’s quality, especially in a feedback process that includes internal or external customers. As a result, the individual will be able to improve the quality, reliability, promptness and comprehensiveness of these products and services.
It is all about the details in this assessment. Before you act, assess your organization’s readiness, and learn from previous mistakes. Upon receiving feedback, implement effective measures. You will be able to add a powerful assessment tool to your leadership management and enhancement arsenal if you do the right things.
BUSINESS ETHICS FOR MANAGERS
Managerial ethics is closely related to a firm’s sensitivity to social issues. Ethics is the study of what is right and wrong, good, and bad, or what complies with moral duty and obligation. Essentially, this entails a code of conduct that guides the actions of managers in their daily tasks. Managerial ethics refers to a set of moral principles and rules that govern the behavior of an individual or a group of individuals. Business ethics refers to the application of ethical standards in business relationships and activities.
It is assumed that when managers assume professional responsibility, they will do so ethically, that is, they know what is right and what is wrong. It is crucial for managers to follow business ethics since they combine key qualities such as integrity, trustworthiness, and compassion, which are essential for successful management. It is the responsibility of the manager to ensure that everything is thought and implemented with the best interests of the employees, stakeholders, and the organization as a whole in mind. The purpose of this article is to discuss business ethics for managers.
APPROACHES TO BUSINESS ETHICS FOR MANAGERS
Business ethics for managers can be categorized into three approaches:
Using this approach, managers analyze the effects of their decisions on the people affected by them. Rather than concentrating on the motivation, this approach focuses on the action itself. Management evaluates both positive and negative results, and actions are justified when the positive effects outweigh the negative effects. An example of management ethics code under the utilitarian approach is pollution standards and analysis of its effects on society.
MORAL RIGHTS APPROACH
An ethical code of conduct that follows this approach protects the most fundamental and moral rights of humans, such as freedom of speech, equality and freedom, safety and life, the right to express one’s feelings, etc. Organizations of all kinds disclose information in their annual reports that is necessary for the welfare of its members.
SOCIAL JUSTICE APPROACH
A manager’s actions are seen as fair, just, and equitable across all groups and individuals, in accordance with this approach. The company does not discriminate against employees on the basis of caste, religion, race, or gender; however, the company makes distinctions based on performance or production. It is justifiable to treat employees who are more productive and dedicated differently than those who are less productive. An employee with the same skills should be treated equally regardless of gender, race or religion.
MANAGERS SHOULD BE AWARE OF THE IMPORTANCE OF BUSINESS ETHICS
Business ethics means doing business by self-accepted moral principles and standards. An organization’s or business’ code of conduct is made up of a set of moral guidelines. Business ethics aren’t just about how companies interact with clients, they’re also about society. From a business perspective, it is the value of right and wrong actions. Business ethics goes beyond workplace conduct; it includes how one interacts with clients and everyone in the organization.
Organizations with a high standard of ethical behavior are appreciated and recognized for their presentation of factual information, respect of everyone, and adherence to the norms, rules, and regulations. The principles of business ethics refer to the conduct of business in a way that serves both social and economic interests, and is fair and equitable to all, since every strategic decision has a moral consequence. The primary objective of business ethics is to provide individuals with practical methods of resolving moral dilemmas. In a business, ethical decisions can have many implications, such as a satisfied work force, high sales, absenteeism, low regulation costs, turnover, more customers, and high goodwill.