Leaders are turning to 360 Feedback to build a robust pipeline of future managers.
Emeryville, Calif. – 3D Group, an industry trailblazer in 360 Feedback and leadership development, is pleased to announce the results of the seventh edition of its industry benchmark study, Current Practices in 360 Feedback. Relying upon data compiled over the last 20 years, respondents revealed 360 Feedback is one of the primary strategies used by leaders to develop and retain high potential employees and to help make better decisions for the health of their companies.
“Our survey results show 360 Feedback continues to be used primarily as a developmental tool,” explains Dale Rose, founder and Chief Executive Officer of 3D Group. “What is most exciting about our latest survey is leaders are now incorporating the practice to support talent and human capital decisions that will positively impact the future of their businesses.”
For the latest study, 3D Group surveyed and interviewed 360 Feedback process owners from companies of all sizes, representing 18 different industries. An overwhelming majority of senior leaders supported 360 Feedback, including 78 percent of Chief Executive Officers and 87 percent of Chief Human Resources Officers. (See the graphic below for further details)
3D Group published its first survey results in 2002. This year’s findings are cumulative, tallying data from more than 600 companies and reporting on trends from the last two decades, including:
Organizations expect to continue or expand their current 360 Feedback programs in 2023;Companies typically embed 360 Feedback in multiple internal talent management programs;Most companies continue to use an external vendor to create customized surveys and generate reports;The use of external feedback coaches to interpret 360 Feedback results has increased significantly while the use of internal coaches has decreased;The use of video conferencing has become the primary platform to deliver feedback coaching while in-person discussions have declined quickly and significantly;Business leaders see the benefits of 360 Feedback without a need for formal evaluation. While 88 percent of companies indicate 360 Feedback increases retention of high potential leaders, only 5 percent of companies questioned the practice enough to conduct a formal ROI analysis.
“This year’s survey results are robust and show some big shifts in the way businesses use 360 Feedback to build their leadership talent pipeline,” says Rose. “Talent Managers see 360 Feedback growing in the coming year, a sign that employee feedback about leaders continues to be necessary prerequisite for leaders to advance within their career.”
For the seventh edition, 3D Group added several new questions about business value and the reputation of 360 Feedback, including a breakdown of how strongly specific senior leaders support the practice, which business metrics are most impacted, and how organizations approach ROI. Current findings also looked back on how the pandemic changed 360 Feedback processes.
3D Group designs feedback systems to create feedback-positive organizational culture and support company-wide talent decisions. 3D Group consultants help individual leaders use honest feedback from employees to make informed business-aligned decisions about how they can be better leaders.”
ABOUT 3D GROUP
Founded in 1994, 3D Group is on a mission to fuel leadership success with employee feedback. 3D Group is an industry pioneer in using 360 Feedback to give organizations, leaders, and teams valid data to support talent assessment and development. To learn more, please visit: www.3DGroup.net.
Cardinal Communications Strategies
The post 360 Feedback is a Key Defense in the War for Talent appeared first on Industry Today.