Almost everyone has heard of a 360 assessment. If not, a 360, also known as a multi-rater, is feedback on a specific person, let’s say a leader, from their circle of subordinates, co-workers, and boss.
The people in the leaders’ circle of work, anonymously provide feedback on how the head honcho is doing.
The results of this feedback can be used to help develop the leader.
In addition to 360’s focused on an individual, another approach to finding out what the team is thinking is create a 360 Degree Feedback Team Survey.
Instead of judging how a leader is doing, the team provides feedback on the entire organization.
This week’s post is provided by Adam Wong; Director of Network Development for TTI Success Insights. They’re my assessment partner.
Adam provides an interesting twist on how to use a 360 Degree Feedback Team Survey. I hope you enjoy it.
Can A Simple New Year’s Resolution Affect Your Company’s Bottom Line?
According to a recent study by Health.com, nearly one-third of all Americans will commit to some kind of beginning-of-the-year promise, otherwise known as a New Year’s Resolution.
Furthermore, the most popular American resolutions are losing weight, getting fit, quitting smoking and stressing less. We know that a healthy workforce is a productive workforce, so how can corporate America respond to the prevailing desire for our most valuable resources – people – to sustain those healthy resolutions? Additionally, how can attention to health and wellness in the workplace find a place in even the most traditional boardrooms?
Workplace health and wellness has a direct impact on a company’s bottom line.
Studies by the U.S. Department of Health and Human Services have shown that for every dollar invested by corporations in corporate wellness/wellness programs, there were savings ranging from $1.49 to $4.91. The Wellness Practitioner Journal reported 19 studies with a 28% reduction in sick leave; 23 studies with a 26% reduction in health care costs; and four studies with a 30% reduction in direct medical and workers’ compensation claims.
In addition, when a comprehensive wellness program is targeted to meet a corporation’s specific needs, that company will save money by reducing absenteeism, lowering healthcare expenditures, eliminating staff turnover and increasing overall productivity. Wellness programs and incentives can include the following:
- On-site seasonal flu vaccinations
- Health screening programs
- Health and lifestyle coaching
- Smoking cessation programs
- Weight loss programs
- Fitness center membership subsidy/reimbursement
- On-site fitness center
- Nutritional counseling
- On-site fitness classes
- Stress reduction programs
A company will provide the greatest value and fuel maximum return on investment by truly understanding the needs of its workforce. The most effective way to do this is via a 360 Degree Feedback Survey. This assessment will allow employers to receive confidential, anonymous feedback from their employees in a simple and efficient manner; and it can easily be customized for any organization and/or any department within that organization.
To learn more about implementing a health and wellness program with the assistance of a customized 360 Degree Feedback Survey contact End Game Business to learn more.