According to studies, 65% of employees expect more feedback than what they are getting.
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Employee feedback is crucial for every organization to run successfully and for the career development of their employees. If an organization wants to retain their employees and hone their knowledge and skills then training alone couldn't do all the job. Feedback and assessment is needed to keep the employee on the loop till the end.
Giving competent feedback to your employees not only helps them to grow but makes them a valuable asset to your company. With the right TalentLMS pricing plans, you can upgrade your eLearning system to allow better employee feedback and assessment with ease. Let’s explore the value of good feedback, why managers are not giving enough feedback, and what happens in the absence of competent employee feedback.
Importance of feedback
Let’s first get onto one thing, review about an annual performance doesn’t constitute enough employee feedback. Not even close! If reviewing annual performance is the total of your feedback program to employees, you are not doing your organization any good. For feedback and assessments to be effective, it requires both, quantity and quality, or on a more elaborative side, more frequent and effective.
What really happens in the absence of competent employee feedback? Organizations that do feedback on a regular basis tend to have lower turnover rates. On the contrary, employed who feel neglected or get very less and improper feedback by their team leaders are likely to be more disengaged.
Two-third of the employees seek feedback as an opportunity to improve or polish their skills, and appreciate it regardless of its nature, whether positive or negative. Highly-engaged employees received feedback on a weekly basis, and on the same hand, lower-engaged employees tend to get feedback rarely.
This all makes sense, if you give a thought about it. How will you team members know if they are doing the expected por meeting the expectations of the company if there is no clear, regular, and competent feedback? To put it in a different way, employees can’t learn and grow if they are not getting good feedback on a regular period. Employee feedback is important in every business to make it a success and for the career development of their employees. If an organization wants to retain their employees and develop their knowledge and skills then training alone couldn't do all the job. Feedback is required. A regular one!
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If there is a lack of employee feedback, your organization will be falling short on quite a few statistical advantages. But what is even more intriguing is to understand what takes place in an employee’s mind when they don’t receive adequate feedback. At the end, employees are going to assume something or the other about the situation where they are not getting enough feedback and chance to assess it.
Some of them might assume that they are just doing fine, even if they need to improve a lot. They will not push themselves because they will feel comfortable doing it that way.
Others may think that their team leaders think they can’t take it. This brings up a huge communication gap which hampers the performance of the whole team.
Or the worst, they will assume that their team leaders think I am not worthy enough to change. This can be worse as you may end up losing a top-talent or a sincere employee which is a valuable asset to your organization.
Do not make mistakes, in the absence of right employee feedback, team members are going to perceive what that means; mostly it does not reflect good on their managers or themselves. The problem of adequate feedback should be the priority for business regardless of their size. Neglecting it could be reason for a huge hurdle holding your organization back.