Why Is Employee Feedback Important?
Employees expect to know the status of their performance, and they want to keep updated about it. Surveys show that 60 percent of respondents said that they would like to hear feedback from their managers regularly. However, only 30 percent said that they are engaged in their jobs or have received feedback from their superior.
When it comes to employees, it is best when you engage them with your Leadership. Motivate them by providing feedback that can help formulate smart business decisions.
Keep in mind that 69 percent of employees worked harder after their managers recognized their efforts. Moreover, feedback also bolstered the leadership of managers and helped increase their profitability by 8.9 percent.
Here are the reasons why continuous employee feedback should be adopted in your business model to ensure greater productivity and higher profits.
Workers Value Listening Culture More than Compensation
While traditional leaders might think that a paycheck can serve as the recognition for the hard work of employees, that does not work for everyone in reality. Research studies by Deloitte revealed that workers put a high value on culture and career growth twice as much as salary and benefits.
The study highlighted that an ideal work culture concentrates in a listening environment. Bear in mind that encouraging feedback from an employee is a way of granting them power that does not require promotions or added salary.
Further studies by the Society for Human Resource Management revealed that 70 percent of employees are empowered to take action at work when they are engaged.
Strong Leadership Begins with Listening to Employees
In most cases, business leaders think that listening to employee feedback equates with weakness. However, recent findings showed that strong leadership and effective management starts with translating employee feedback into direct action.
The study argued that listening to feedback will build employee confidence and ensure that they spot issues that otherwise become a problem if addressed too late.
Negative Redirecting Feedback is Effective at Enhancing Employee Performance
While this may sound counter-intuitive, surveys say that negative redirecting feedback could improve the performance of employees when delivered appropriately. Train yourself and your employees on effectively giving and receiving feedback to start a culture where everyone's opinions are valued.
How to Give Valuable Feedback to Employees
Continuous feedback is crucial in helping employees improve their craft. In giving feedback, always be problem-focused and tell employees what they need to do better and why.
Likewise, business managers should not assume that their employees have all the background information regarding the job they need to do.
Explain to them how the situation can affect their standing and the overall business. Being more specific in providing feedback makes it easier for employees to take action and do what is necessary to improve operations.
Also, talk about the outcome of your observation instead of the personal attributes of the individual.
Discussing the situation itself not only shows your professionalism but also exudes that you are most concerned about fixing the current problem instead of the personality of the worker.
Furthermore, providing positive feedback now and then is a great way to ensure employees that you haven't lost perspective about their performance.