27 Nov Employee Feedback – The Rewards Far Outweigh the Inconvenience
Employee retention can be likened to client retention. We accept that it is a lot harder to find a new client than it is to retain one and the same goes with great employees; it is a lot harder to recruit a future star than it is to retain the ones you already have.
More focus needs to be put on retaining high performing employees and improving the performance of your current crop. As the job market grows, employees are becoming more empowered, more demanding and more mobile. Employee engagement is critical for any organization to achieve their strategic goals and the factors that influence engagement levels are many and varied. Good leadership, training and management/peer recognition have become more important to employees than the fancy break rooms and free lunches. Employees want strong leadership and the opportunity to develop and grow, they want to have an impact; they want to feel purpose.
Josh Bersin, in his article Feedback is the Killer App, outlines the need for companies to implement new ways to improve employee engagement and in turn retain talent. While growing companies with more than 50 employees are finding it increasingly harder to understand the pulse of their organization, many are discovering that feedback software is the new tool to implement employee wide “health checks.” These “health checks” allow management teams to identify the current people problems in their organizations and measure overall culture health. “Just as customer feedback has transformed the customer experience, employee feedback is transforming the employee experience.”
Research shows that humans need constant feedback. This reminds me of a friend who had been at a company for six months, she was notified by HR that her six month review was due and that her managers would be in contact to organize a meeting. Three months later with still nothing organized, she started to get worried. Was this because they had forgotten about her? Was she not making a meaningful contribution or was she doing such a great job that they weren’t worried about her performance?
Employees, who don’t receive feedback, become suspicious and nervous about their position in the organization. Employees need to feel valued and recognized for great work and proactively coached to further develop their skills. The right feedback will drive individual and team performance which in turn will deliver your organizational strategies. Employees who receive positive and constructive feedback are more likely to be highly engaged and less likely to leave their employer. Through the implementation of feedback software, companies can streamline the process and make sure that the critical areas of concern are identified, measured and addressed.
NPS (Net Promoter Scores) have become an industry standard to measure the loyalty of customer relationships. However this same process can also be used on leaders in an organization. Asking employees to rate their leaders allows you to gauge the trust and relationship levels that a manager has developed. One simple question can easily identify which leaders are excelling and displaying leadership qualities and which ones need urgent support and development.
A huge transformation is happening in the global workforce and new employees are looking for purpose and growth. We now know that feedback is crucial to measure trust, accountability and development and all organisations should be implementing effective processes to facilitate and streamline constant employee feedback.
Written by David Snow, Client Services Executive at MultiRater Surveys – Your customizable online people analytics platform
Whether you are an HR professional, business owner, executive manager, consultant or advisor, multirater surveys provides you with the platform to maximise your people capital investment. MRS is easy to use and delivers easy to read professional reports.
By using Multirater surveys as your people capital survey platform, you can create professional 180-degree Performance Reviews, 360-degree Leadership Development surveys, Employee Engagement and Client Pulse surveys… in just five easy steps. Ask the questions YOU need answered – AND draw on our templates and question banks. It really couldn’t be any easier.
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