* 1-1 with manager and peer twice a month
* 15five once a week as a mental health check for the employee
It's not a perfect system, and it's ever evolving, but it the best I've experienced so far.
The 360 system is great for highlighting projects and contributions a top-down review might miss, and also gives the coworkers a chance to call out areas for improvement. Employees can game the system by exchanging positive reviews, but that is easy to spot. An honest review with proper critical feedback is valuable to an employee's progression.
The 1-1's work for general sanity checks, but require preparation from the manager to have an impact. Too many managers show up with without preparing and expect the employee to do all the talking. I use 1-1's to discuss career progression, establish SMART goals, and ensure that my report is happy with the work they're doing.
15five is still a relatively new process for us, but the perceived anonymity of a form allows employee's to more direct with their feedback. A report is a great indicator for what to discuss in a 1-1.