We seek others’ feedback because it provides us with an external perspective on our behaviors, strengths, and areas for growth. It enhances our self-awareness by highlighting blind spots that we miss on our own. While others’ opinions might confirm what we already suspect, they might also surprise us and open up entirely new and unexpected avenues of exploration.

360-degree feedback tools and stakeholder interviews are both useful when working with a coach or gathering information for a performance assessment, but they serve different purposes and have distinct characteristics. Picking the one that will work best for you depends on your objectives, context, and the depth and breadth of analysis you want in the feedback process. Here’s a quick breakdown of the differences between the two:

	360-Degree Feedback	Stakeholder Feedback
Scope and Perspective	360-degree feedback involves soliciting input from multiple sources, typically including supervisors, peers, direct reports, and sometimes external stakeholders. It provides a comprehensive view of an individual’s performance and behavior from various perspectives.	Stakeholder feedback focuses specifically on gathering input from relevant stakeholders who have a vested interest in the individual’s performance or coaching outcomes. Stakeholders may include clients, team members, managers, and other key individuals who interact with the client.
Purpose and Focus	The primary purpose of 360-degree feedback is to provide a well-rounded assessment of an individual’s strengths, development areas, and behaviors. It offers insights into blind spots, facilitates self-awareness, and highlights opportunities for improvement. It is often used as a tool for personal and leadership development.	Stakeholder feedback typically centers around the client’s impact on specific stakeholders and their perceptions of the client’s effectiveness. It’s used to gauge the client’s ability to meet stakeholder expectations, understand their needs, and build relationships. Stakeholder interviews are particularly useful when the coaching goals are tied to specific outcomes.
Confidentiality and Anonymity	In most cases, 360-degree feedback is provided anonymously to ensure the raters feel comfortable providing honest and objective feedback. This promotes open and candid responses, which may result in more accurate and actionable feedback.	Stakeholder feedback can be gathered confidentially, but anonymity may not always be necessary or practical. Depending on the situation, stakeholders may choose to provide feedback openly and directly, allowing for a more transparent exchange of perspectives.
Customization and Tailoring	360-degree feedback tools often come with standardized questionnaires or assessment frameworks that are designed to capture a broad range of competencies and behaviors. While they can be customized to some extent, they tend to have a more rigid structure.	Stakeholder feedback can be more flexible and tailored to specific coaching goals, organizational objectives, or stakeholder concerns. The questions or areas of focus can be customized to address the unique dynamics and requirements of the client’s interactions with stakeholders.
Cost	360-degree feedback tools often involve purchasing or subscribing to assessment platforms or software. These tools may come with licensing fees, customization options, and ongoing support services, which can contribute to higher costs for the client.	Stakeholder feedback typically involves gathering input through surveys, interviews, or direct interactions, which may incur lower or more flexible expenses.
Certification	Some 360-degree feedback tools also require certification to administer and interpret the assessments effectively. Certification programs often involve training sessions, exams, and ongoing professional development. These requirements help ensure that coaches or facilitators possess the necessary skills and expertise to handle the feedback process appropriately.	Stakeholder feedback does not typically have specific certification requirements since it relies on gathering input directly from stakeholders, utilizing communication and relationship-building skills.

Ultimately, both 360-degree feedback and stakeholder feedback are valuable resources for sparking conversation and self-reflection. As coach, I tend to prefer stakeholder feedback because of its flexibility, ability to dig deeper on interesting responses, and cost-effectiveness. But if you don’t have a partner to help you obtain feedback, you could always create an anonymous survey to collect data.

What effective ways of gathering feedback do you regularly use? What insights have you gained from it and how has that changed how you think and operate as a leader?