One of the main reasons why top performing companies have climbed their way to the front of the pack is because they’re frequently exploring ways to make themselves better. How? Through the use of effective feedback. Whether positive or negative, employee feedback is incredibly valuable, providing an organization with the information needed to make critical decisions.
Transparency and clear communication between management and employees is also a key component in employee satisfaction. In fact, according to research conducted by Gallup, managers alone are responsible for a 70% variance in employee engagement. So, how can feedback impact your organization for the better? Here are five advantages of regularly collecting employee feedback.
Enhance Performance Organization-Wide
Feedback, when reciprocal, can boost performance across the organization. When communication is consistently encouraged and the exchange is a two-way street, it supplies management with insight into the company’s culture, workflow, and leadership effectiveness. For employees, they gain first-hand knowledge of their strengths, weaknesses, health of their relationships with colleagues, and guidance on how to elevate their success.
When information is shared, it not only solidifies the employee-manager relationship, but it allows all parties involved to make better decisions. It also directly influences employee performance, as workers will feel valued, like their voice is being heard, and that they’re being supplied the tools needed to achieve success.
Dissolve Conflicts Before They Escalate
A culture rooted in strong feedback practices will also provide employees with the confidence and intelligence to address issues that arise before they snowball into a bigger dilemma. When feedback is discouraged, employees may feel intimidated and uncomfortable to share their ideas and opinions on even the smallest of matters. Over time, when communication isn’t exercised, it can escalate, leading to more complex issues, poor productivity, and inefficiencies in workflow. Employees who are given the tools necessary for approaching difficult conversations are better able to effectively respond to unexpected roadblocks or small setbacks that surface.
Create Ownership Over Development
Trying to establish a one-size-fits-all professional development strategy is virtually impossible. After all, every employee possesses their own set of strengths and responds differently to certain training techniques. When feedback conversations are structured and executed regularly, it allows employees to take accountability and proactively contribute to their own professional growth.
There are many occasions, such as the completion of a project, end of a meeting, or call with a large prospective client, where employees want to receive feedback. When delivered in a timely manner, workers can use this insight to take action and implement positive changes moving forward. This type of feedback-driven culture empowers staff members to continuously seek ways to improve upon their work and not shy away from constructive criticism.
Appeal to the Masses
Oftentimes, employers avoid implementing an employee feedback program as they feel the task will be a monumental undertaking, time-consuming, and even a bit stressful when it comes to delivering feedback that’s constructive in nature. However, this is a large proponent of what employees are looking for, so why not give your workers a perk they truly want? Approximately 60% of employees surveyed by PwC, stated they desire feedback on either a daily or weekly basis. And when it comes to Millennials and employees under 30, that number spikes to 72%. By creating resources, establishing a strong training program, and using supporting technology, it’ll help make the process much simpler to execute.
Boost Engagement & the Employee Experience
There is a clear and powerful relationship between high employee engagement numbers and establishing a culture of feedback. This is because you are actively recognizing individual needs and successes, allowing for knowledge to be shared, and addressing issues in a timely manner. While feedback is an important part of employee development, it also opens the gateway for acknowledging individual wins – both big and small – on a regular basis.