If you’re looking for a way to gain insights into how your employees feel about their job, company culture, and leadership, then you should consider a 360-degree feedback survey. The market for survey software is growing exponentially. According to the market analysis by ReportLinker, the global online survey software market was at $2.44 billion in 2021 and is expected to grow to a whopping $4.86 billion by 2026.
Though it can be challenging to implement in a large organization, there are ways to streamline this process and get the most out of your 360-degree feedback survey software. That’s why we’ve created this guide, to give you all the information you need to find the right software for your organization’s needs.
What Is a 360-Degree Feedback Survey?
A 360-degree feedback survey is a company tool to gather feedback from employees, peers, and direct managers. It’s also known as a multi-rater feedback survey.
It’s used to collect feedback on an employee’s performance and how well they are doing in their job compared to what’s expected for their role. This way of collecting data provides a better picture than a manager rating an employee alone because it considers the opinion of several people familiar with the person being rated.
These surveys typically include questions about three areas:
- Overall performance
What Are the Benefits of Leveraging a 360-Degree Feedback Survey?
A 360-degree feedback survey is a great way to get feedback from various sources. It can be used to improve performance, retention, and culture. It can also be used to improve processes, products, and services. And because it’s anonymous, it creates an environment that encourages honest responses that aren’t always easy.
The benefits of using 360-degree feedback survey software include the following:
- A better understanding of your employee’s needs and desires
- Better collaboration between employees through sharing ideas
- Increased trust within the organization
According to a Harvard Business Review article, understanding how leadership and employees work together that you get from 360-degree feedback surveys can help improve individuals and the company as a whole. However, this is only possible when the survey is done right. Hence, choosing the right software with the best features becomes vital.
Features to Look for in a 360-Degree Feedback Survey
Here are some standard features you should look for when selecting the right feedback survey software for your company.
Easy to Use and Navigate
The software should be easy to use, meaning it should have an intuitive interface that’s simple and easy to understand. Clear instructions will accompany an excellent 360-Degree Feedback Survey Software navigating the program.
It’s also essential to make sure you can easily switch between different screens or tabs within the program, so if you want to go from data analysis mode into survey creation mode, this should be quick and effortless. Having a “back button” is equally important. If something goes wrong with a survey or you need help setting up your survey questions, having a “back button” makes things so much easier when troubleshooting issues.
Anonymity is essential because it increases the likelihood of honest responses. Suppose a respondent knows that their survey results could potentially affect their career. In that case, they may be tempted to give a false positive or negative response to boost their performance.
This can cause inaccurate survey results and make it difficult for you or anyone else who uses those survey results in future decisions. With anonymity assured, your respondents can give honest feedback without fear of repercussions.
Another benefit of anonymity is that it protects privacy by preventing personal information from being shared with others outside your organization, including people who might take advantage of it if they knew where it came from.
Anonymity also encourages more employees, managers, and leaders to share feedback. According to the State of Employee Feedback report, 74% of employees are more likely to share feedback if it is anonymous. However, 16% of them still won’t share feedback because they doubt that the feedback will be truly anonymous.
It is essential to have the ability to export data. The software should be able to export data as a .csv file, allowing you to import it into another program for further analysis. In addition, being able to generate reports can help users understand and visualize information that is collected by the survey software.
For example, if there are multiple rounds of surveys in one year, the user should be able to create graphs or charts showing how each survey participant changes over time. Or if there are different categories associated with each survey question, then being able to create custom reports based on those categories would be helpful as well.
Whether you’re a founder, CEO, or team member, 360-degree feedback survey software should be easy to use. Using new software requires a lot of training. If you use any random software without training modules, you will have to train your employees and everyone else using the software to give or get feedback. This can be time-consuming and can result in reduced productivity.
Hence, you must find software that has embedded training resources available. However, this does not mean you should completely ignore training. Your organization must invest in providing its employees with training on how to use any new software system that must be adopted for everyone involved in collecting and analyzing data and completing their tasks. Hence, it is best to use embedded training to accelerate the overall training.
Pre-built assessments are a must. They’re helpful to you and your employees as they take the guesswork out of creating and using 360-degree feedback surveys. You can use them to measure things like teamwork, diversity, or cultural fit. If a software platform doesn’t offer pre-built assessments, it’s not worth your time to invest in it.
Pre-built assessments are also customizable. If you want to change the wording of an assessment or add more questions, that should be easy enough for you on most platforms. Look for features like question types, question analytics, and reporting capabilities.
So, what are you waiting for? With this guide, you can find the best survey software for your organization. We’ve covered all the essential features that any 360° feedback survey software should have, including ease of use, anonymity, reporting capabilities, and embedded training. And if all else fails, just ask our experts. They’re always happy to help answer any questions about picking out a new product or service.
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