Responsibility – 360-DEGREE FEEDBACK
A drive towards more openness
Deutsche Börse introduced its 360-degree feedback for executives in summer 2016. The self-evaluation was compared with feedback received from different groups of persons. The summary of the process is positive.
“The tool was well received by employees and executives; as shown by the large number of assessments. Their quality is also very good: there is a desire for a more open feedback culture, and the 360-degree feedback represents a step towards achieving that. It also requires courage for the feedback recipient to be open to the results – our executives have proven this, thus laying down a good standard for a change in culture. Our task now is to really benefit from the feedback. Sportsmanlike ambition can even be applied to a very good result: there is always another mountain that is worthwhile scaling.”
feedbacks were given
responses per feedback recipient
per cent response rate
(third-party and self-evaluation)
“Constructive feedback is fundamentally very important to me, allowing me to recognise my own individual strengths and where there is room for improvement. It also helps me to consciously work on these areas. I am therefore always open to relevant suggestions, and really appreciate them. Aspects were taken up within the scope of the 360-degree feedback that might not have otherwise been addressed outside the framework of such a process. In order to achieve as diversified a feedback as possible and gain major insights, I consciously included colleagues in my feedback group with whom cooperation was challenging at times. The feedback received matches my self-assessment in most aspects. But I now have a much clearer picture of my strengths and scope for improvement, especially thanks to the different perspectives. For example, in certain situations where I should conduct myself differently, I recall the feedback very consciously, and try to implement it accordingly.”
“The 360-degree feedback is a fantastic tool. The feedback you receive prompts you to reflect, and to take a closer look: how can I improve? What did I expect in the first place? Moreover, this reminded me once again that I am not working in isolation – I am surrounded by colleagues who are watching me, who have an opinion of me. And they want me to improve – if it wasn't for that, they would not have given me feedback. I am convinced that there is always something I can work on. To me, my career is a journey during which you never stop learning. For instance, 360-degree feedback has taught me that members of my team want to have a more precise idea as to where we stand, and what they can contribute towards achieving our goals. Now I try to give them more frequent – and more structured – feedback.”
“I found it easy to offer open feedback to my supervisor because of the opportunity it gives me to become involved in the potential growth of the company, in an alternative manner. Thanks to the 360-degree view, the tool is more objective and informative than hierarchical evaluation models that involve only two individuals. It also affords the opportunity to uncover and develop potential. Because I appreciate an open culture of feedback, I would like to see the 360-degree feedback tool being extended to employees too, rather than restricting it to executives only.”
“I am thrilled that feedback and the feedback culture were brought up. One needs a structured process to start with, so as to establish a culture of openness and to make feedback an everyday issue. I gave feedback to two of my colleagues and found it good how detailed the questions were. It really forced me to reflect on the evaluation. I offered my colleagues the opportunity to discuss my feedback afterwards. They took my evaluation very seriously. I have the impression that we now deal with one another in a more open fashion. You get to know each other better. The 360-degree feedback also makes it easier to cooperate with one another.”
See also the article “360 degree assessment” in our Annual 2015.