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Efficiency and performance are two words you might associate with a successful business. Most businesses focus on these aspects to improve their revenues and bottom line. However, there comes the point when it gets harder to improve your performance levels. So consider feedback.
Employee feedback is often overlooked, but when it is implemented correctly, it can improve employee engagements and performance, contributing to better numbers and a more proactive office. If you still have doubts about employee management feedback, read the benefits below.
Employees feel acknowledged
The natural tendency is to settle into a job role and do whatever is required to accomplish tasks to a satisfactory level. Ask any manager and they will tell you this. However, they will also tell you that they will not develop in the right direction unless employees are given timely feedback.
Effective and timely feedback lets employees know where they stand and what is expected of them in the short and long term. It makes them feel acknowledged by the company and invested in the company’s aims. This leads to better performances and more commitment to the job.
Performance improvements
If you offer employees feedback once or twice a year, chances are that feedback is largely irrelevant by the time they receive it. Delayed feedbacks asks employees to cast their mind back to a situation earlier in the year, but the situation is too far removed from what’s relevant today.
Performance improvements should be relevant and timely. Whether the feedback is positive or negative, it should be given to employees shortly after a task or project. In general, you want to keep things relevant and timely to improve employee engagement, growth, and performance.
Professional development
If your team of employees was a sports team, it would make little sense to wait until the season’s halfway point to give them performance feedback. On the contrary, you would want to improve their performances after every game to improve their performance and development.
It’s exactly the same with your professional team. By giving them regular feedback after every task and project, you enhance their experience and performance. Individual team members also benefit from more professional development that can benefit your company and their careers.
Forward motion
If you only provide feedback for employees once or twice a year, you run the risk of de-motivating them instead of improving Performance management. That’s because you operate from the perspective of past mistakes rather than future opportunities.
Create an ongoing conversation with your employees around performance, and it becomes a normal part of their working lifestyle rather than something they learn to dread once a year. When you turn feedback into a conversation, you create ongoing opportunities for change.
Meaningful interactions
The once-a-year review is detrimental for many reasons! It’s a de-motivating process, and it’s limiting in terms of improvements that can be made. On the other hand, ongoing interactions create a meaningful bond between managers and employees that contributes to performance, employees no longer dread the annual review and instead integrate ongoing improvements.
