Are conventional 360-degree-feedback tools outdated?
This white paper critically analyses the efficiency of conventional 360 degree feedback and talent management tools in the market place today. As such tools are not-real time or big-data based, we conclude that they are unable to effectively reduce employee turnover and retain talent. Furthermore, owing to their largely non-quantitative infrastructure, the data and insights they produce on employee and departmental quality become stale rather quickly, as time progresses after formal review periods. A major paradigm shift has commenced in the $5.5bn talent management market; one we believe will accelerate over the coming 5 years and will be characterised by big-data, real-time feedback tools that are not reactive and slow, but quick and predictive, providing unique insights about employee quality in a manner like never before.
Getting employees engaged in 360-degree-feedback.
It is important that Core-HR and talent management tools specifically, achieve high adoption rate across companies. To facilitate this, a process of employee education must be undertaken. This would involve, amongst others, compellingly presenting the software, guiding employees on how and when to use it and finally, allowing them to see how they can benefit (including the senior management). Equally, from the vendor's perspective, it is important that talent management tools are designed in a user-friendly manner and that the process of providing feedback is quick and painless from the perspective of the user. This brief offers 4 key tips to help you, the HR decision maker, achieve high rates of talent-management-software adoption across your company.