If there is no culture of regular, helpful feedback, employees often feel underappreciated - they sometimes don't know what they are doing right or wrong and will feel uncomfortable while at work. However, regular feedback offers many benefits for both you and your employee.
People often think of the classic annual evaluation conversation when they wish to evaluate and coach employees. However, the days of a single evaluation conversation per year are over. Today, this method of evaluation is no longer enough to keep employees engaged and motivated. Too often, the annual evaluation conversation deals only with high-level performance and goals, not the day-to-day performance improvements employees can make.
Exchanging feedback frequently may seem like a big time investment. But what if the benefits you get out of it are more than worth this time investment? We go over four key benefits of a well-thought-out evaluation policy.
Valuable employees remain loyal and engaged
By organizing regular feedback, you make organizational goals clearer, more tangible and transparent. This makes it easier for employees to work toward them in a focused way. They see the goals of the team or organization more as goals of their own and will go that extra mile. Employees feel extra loyal and motivated.
Any problems are limited
Regular feedback allows the company to react quickly to possible problems. Difficulties and development points are discovered in time and can therefore be addressed before they become too big or insurmountable.
You also gain new insights yourself
Encouraging reciprocal feedback, and thus also giving the employee the opportunity to express constructive feedback, ensures that as an entrepreneur you keep in touch with what is going on in the workplace. You get information from a different perspective. In this way, you get very useful and often necessary feedback for improving work processes.
You are more agile and can respond more smoothly to evolutions
With the ever-changing economic environment, organizations must be able to continuously adapt. By providing smooth and regular feedback to employees, you foster a corporate culture in which employees continuously learn, grow and adapt. This will lead to higher productivity, efficiency and increased engagement.
This does not mean that the formal evolution conversation should be cast aside. This is an AND-AND story: the combination of regular feedback and an annual formal conversation gives the best results.
The formal conversation creates a long-term framework, both at the organizational level and at the employee level. It considers cooperation in general, the future of the company and the future of the employee within the company. What potential does the employee have? Where does he wish to grow? Are there opportunities in the organization to grow vertically or horizontally? How can the employee best use his talents to enable this growth?
In ongoing feedback conversations especially short-term goals are evaluated and concrete growth and development points for the employee are discussed. This informal feedback guarantees a practical follow-up of the work in the short term and ensures that the employee functions in line with the predetermined organizational goals and team objectives. Clearly defined job profiles provide the best support for this.
A win-win situation is created: Employees feel their voice counts and are given opportunities to grow. This increases their commitment and loyalty to the organization. In addition, the quality of work results increases and you are able to motivate and retain valuable employees.
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