Lessons learned and Implications for Practice: Human Resource Management

Multi-Source Feedback: Lessons learned and Implications for Practice:

Human Resource Management

Introduction

Human resource of any organization has always been a significant asset for the company. The performance of an organization is affected by the productivity of its employees. To perform efficiently and get effective results an organization is required to make investments for the development of its human resource. Human resource can enable the firm to achieve a competitive advantage over other companies competing in the industry; this would have a long-term affect over the performance of the company (Georgescu & Stanculescu, 2012). It is significant to research for the knowledge and skills that an individual employee of the organization has for remaining competent and developing and generating new ideas. Human resource help to create value for an organization, however to get the work done form the employees motivation is a crucial factor that has to be considered and employees should not be pressurized with too much work load as this would result in absenteeism and higher employee turnover which is tend to have a negative impact over the performance of the organization. The survival of a business is dependent on the effectiveness and efficiency of its human capital, every now and then firms are required to make decisions for its human resource, to downsize, restructure the organization, for retaining employees that are crucial for the business success and for development of leadership capability for which they have been scrutinizing the performance of its workforce at all levels; that is organizational, individual, divisional and team level (Atwater, Brett & Charles, 2007).

Multi-source feedback is a process that is used to evaluate the performance of an employee by his supervisor, peers, and direct sub-ordinates and even includes self-assessments. This helps to analyze the perceptions of others and as feedback is provided it assists in identifying the areas where an individual lacks and where improvements can be made to eliminate his weaknesses and strengthen his capabilities, it guides in searching for an employee's capacity to perform above and better than others in the organization and to find out the differences (Pablos & Lytras, 2008). Multi-source feedback can also be referred to as 360 feedbacks that enable the employees to get aware of how their performance is being perceived by other and that would help to understand if there is a need for further learning and development. It provides information that is significant for development; once the areas that are required to be developed have been highlighted it brings an opportunity for the employee to achieve future growth by making efforts to improve his incapability and incompetence. The company can be benefited by Multi-source feedback, as it ascertains the skills that are to be learned by an employee to meet the goals set out by the management for the company. Employee development is necessary for the organization to accomplish its goals, once the process of gathering employee feedback from a 360 perspective it would enable the company to ...