360 degree feedback works by gathering ratings from multiple stakeholders associated with the feedback recipient. A set of survey statements/questions are shared among raters to evaluate the candidates on competencies relevant to their job roles/positions. 360 feedback helps measure behavioral skills, interpersonal skills, domain knowledge, and more.

360 degree feedback allows a holistic evaluation of performance and potential by involving multiple stakeholders in the review process. Advantages of 360 degree feedback also include:

1. Removal of biases in assessment

2. Identification of training needs

3. Focus on learning and development for the feedback recipient

4. Overall efficiency in performance management at the workplace

360 degree feedback is a developmental tool used in holistic professional assessment. It is rolled out in the form of a survey where feedback-givers rate the feedback-seekers. These ratings are based on parameters related to relevant skills, competencies and behaviors. Results from the survey help create insightful reports covering individuals' hidden strengths, developmental areas, blind spots, etc.

A 360 feedback survey collects responses from multiple perspectives. It helps measure:

1. Professional skills and competencies

2. Behavioral traits necessary to perform in a role

3. Perceptions about the employee

4. Subjective areas like leadership qualities, ability to work in a team and communication effectiveness

5. Performance of the employee in specific work scenarios and roles

The purpose of 360 degree feedback is to ensure an all-round evaluation of an individual. The process guarantees this holistic approach by gathering inputs from a variety of sources who are professionally associated with the feedback-seeker. Supervisors, direct reports, peers and external sources like clients participate in such a review. Together, it culminates into an unbiased, 360- degree analysis.

The 360 degree feedback process unfolds in three core stages. First, it is designed using a set of competencies and templates relevant to an organization's objectives. The organization then selects a platform to execute the survey and track its progress. Finally, the responses are collected and analyzed. The latter helps formulate extensive developmental plans for the survey-seekers.

A 360 degree feedback is vital when organizations need to adopt a holistic approach for performance review, training needs identification, succession planning, leadership development, etc. The process offers all-round insights by encouraging ratings from several sources including managers, subordinates, colleagues, clients, business associates, etc. It is also important for identifying hidden strengths and blind spots in employee performance and behavior.

If not conducted in the right way, 360 degree feedback can have a few disadvantages such as:

1. Raters may be tempted to focus on highlighting negative aspects of the feedback-seeker.

2. If the workplace environment is unhealthy, the process may garner dishonest reviews.

3. In some cases, leaders may mistake 360-degree feedback for criticism.

4. It is a time-consuming process.