Providing effective 360 reviews
Today, 360 Evaluations are very common. These tools, also called multi rater or multi source feedback, were originally about employee development, not performance evaluations. The idea was to triangulate the truth about an employee by using more than simply their boss as a feedback source. By using their peers, direct reports, bosses and customers, along with their own self ratings, you should get closer to reality about that person's performance. This data can then be used in mapping out development paths moving forward.
People like data, so it wasn't long before organizations started finding many uses for 360 Evaluations, including employee development, performance appraisals, compensation decisions, and organizational development. However, the most common is still employee development and appraisals. And there are a few clear advantages to using 360 Evals. First, there's no doubt that 360 ratings provide a better, broader perspective on employees.
The perspective created is inevitably more rich, compared.Source: https://www.linkedin.com/learning/performance-review-foundations/providing-effective-360-reviews