The age of annual performance review is long gone. It is a traditional model of performance engagement that doesn’t work today when it comes to increasing the engagement among the Millennial generation of workers. We feel like in the dark or blindsided without continuous feedback.
Today’s employees want regular feedback, which means that regular meetings (group or individual) can boost their engagement, improve and streamline communication, and ensure that any issues are addressed on time. Believe that, once you’ve implemented a system of continuous feedback, you will be able to reap the benefits.
These are the benefits of an efficient continuous feedback system in 2018.
- Continuous Learning
In order to be able to learn and improve, your employees should be willing the discuss their strengths and weaknesses openly and on a regular basis. Use continuous feedback to build trust and empower your employees to excel. Companies deal with a lot of change (intrinsically) and need to be able to adapt as client lists are always changing. Fostering a culture of continuous learning will lead to greater productivity and adaptability.
- Boost Morale
Give your employees a chance to give feedback in a more leisure and mobile setting, and you will boost their morale. This has proven to be the key to employee happiness. Based on the feedback you receive, you can make changes to reimbursement, technology, work time, operation organization, and more. Those processes can improve your company culture but can’t happen without this feedback. When employees feel that their voice is heard, it can improve their moral instantly, making them feel more fulfilled.
- Anticipate Problems
Annual reviews don’t make any sense to today’s employees and new school leaders. We must always try to address small problems before they grow into big ones, and a year is a long time to allow them to continue. Continuous feedback culture makes it possible for people to improve on a regular basis and enables organizations to detect problems faster. Once a bad habit settles in, it’s harder to correct it.
- Better Goal-Setting
A company can improve its performance and ensure greater returns by setting quarterly performance goals. And to be able to set goals that don’t come from the top down and have organizational buy-in, employee feedback is crucial. Use it to set better goals for employees because they need to understand their career goals and paths. Implement a face-to-face feedback loop to make your goals better, more tangible and transparent.
HR cycle reinvented
With continuous feedback systems, the HR cycle is reinvented. Annual performance reviews are dead, with new HR technology available to help you focus on both business and personal growth and development.
Coach instead of Boss
Employees feel that frequent performance discussions with their managers make them feel more confident. And it’s true because a more direct and open culture does produce happier and more confident teams.
When employees feel the support you give them, they are driven to identify your company goals as their own, to align with the organization’s goals and invest more in the company. Their sense of belonging then grows, the loyalty strengthens, and their motivation soars. Leaders can provide this support by implementing a continuous feedback system.