360 degree feedback system is a feedback system where an employee receives feedback from all the people around him whom he has interacted with in the course of executing his job responsibilities.
The feedback is solicited from peers, teammates, subordinates, direct reports and even external parties like suppliers and vendors. This feedback may be used as an input to the performance appraisal process. It may also be used to identify competency gaps to administer relevant training to the employee.
This 360 degree feedback/assessment is also known as a multi-rater or multi source feedback as feedback about the employee is gathered from multiple sources and not just the reporting manager as in the case of a traditional performance appraisal system.
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