Leadership development network by NewAgeLeadership? The 360-degree feedback is also known as multi-rater feedback or multi-source assessment as there are multiple people rating a single employee and feedback or assessment comes from multiple sources. It was first used by U.S. Army in the 1940s. However, since the 1990s it has gained popularity and become a permanent talent management tool of most multinational companies today. Let me give you an example to elaborate on the importance of 360-degree feedback. Imagine that you are in the soft drinks business and are planning to launch a new cola. How do you ensure the success of this new product? How do you ensure the success of any new product or service?
Insider expertise : Team members should be in a position to provide expert advice and an insider view of each other as it relates to their business, their people, and their team culture challenges. They become de facto coaches. Coaching is a leadership skill : Some organizations use coaching as an ‘executive intervention’ or to ‘fix a problem’, but this is a suboptimal approach to coaching. Coaching is a leadership skill and leaders in organizations should be skilled coaches to help their teams develop and grow. Same as we expect effective leaders to be highly skilled in e.g. communication, decision making and empowerment, leaders should be highly skilled in coaching others. TEAM coaching is a great program to instill coaching as a leadership skill in the organization.
Stakeholders see the leadership behavior on a regular basis and are in the position to give feedback on the quality of leadership as well as tell the leader whether that quality of leadership is improving or not. They are also in a position to hold the leader accountable when he commits to changing/improving her leadership behavior. They provide on-job coaching and accountability to the leader while she makes an effort to improve her leadership. Marshall Goldsmith’s stakeholder centered coaching is based on this concept of involving the stakeholders – the people who are at the receiving end of the leadership behaviors. It starts with an assessment of the current leadership quality by soliciting 360-degree feedback from the stakeholders. Based on the feedback, the leader chooses 1-2 areas to improve in order to become a better leader.
Most employees feel that they have a lot more skills, capabilities, and talents than they get to use at work. Leadership behaviors determine how employee potential get utilized at work. Under the right leadership style, the same employee can perform much more efficiently and be more engaged at work. Imagine paying a 100% salary to use only 50% of the capabilities and potential of your entire human capital! Throughout our careers, most of us have experienced working under a good leader. In all likeliness, we have also worked under a not so good leader! Recall your personal experience. How was it working under a good leader? How about working under a not so good leader? What were the differences? Find additional details at Leadership course online.
Most leadership development programs in India and worldwide are a waste of time! An estimated $62 billion was spent worldwide on leadership development initiatives in 2014. And yet, the numbers on the effectiveness of leadership development programs is both shocking and depressing. The primary reason for the ineffectiveness or failure of leadership development initiatives is the fact that there is a fundamental problem with most of them. Read my article to find out this fundamental flaw- Why leadership training fails and the fail-safe solution for it.
Some companies regularly conduct so-called leadership training programs. This is to check the boxes and for ISO requirements – how many trainings, how many man-hours, etc. Other companies may have realized that they need to measure impact. Now, most companies measure Kirkpatrick’s first level evaluation – which is jokingly known as the feel-good feedback – whether the participants liked the training or not. A few companies have evolved to the next stage. They realize that “training programs” are NOT having any business impact. Then they opt for long term training intervention instead of just short duration training programs. They add assessments and follow up to help on job behavior change of the leaders. Even then the statistics on the effectiveness of leadership interventions, even those from big named B schools and top-notch vendors, are depressingly low.
Leadership affects almost every aspect of an organization’s performance whether the organization is for-profit, non-profit, political or social. Good leaders make a difference in the world. We are a team of passionate leadership development professionals who are certified in Marshall Goldsmith Stakeholder Centered Coaching process. Discover even more details at this website.