Rejuvenate your Performance Feedback
It is the responsibility of the entrepreneur to employ diligent managerial skills to gauge performance of the team. To be able to maximize productivity by keeping individuals engaged optimally necessitates smooth and regular communication with team members. Employee Performance Management depends to a great extent on giving frequent performance feedback to them, as it ensures object-oriented behavior and attitude in employees.
Effective and open employee performance feedback, when delivered in a timely and regular manner, acts as a vital managerial tool in improving the general behavior of staff in future. It has been found that employee performance, to a great extent, depends on effective performance feedback. Constructive and meaningful feedback assists employees to promote relationships among themselves, enhances their engagement, thus leading to increased productivity as well as progress in quality of work.
How Performance Feedback Impacts Employee Engagement?
Employee Performance Feedback, when given in the right manner, helps in achieving the following:
- Under performance is reduced, helping the business save time and money
- Employees’ Attitude and Performance improve
- Employees are motivated and better aligned toward job
- Attrition rate decreases while compassion and empathy increase
- Productivity increases and workplace relationships improve
Why Performance Feedback Counts
Timely and regular reviews are critical not only for better career development but also for overall business growth of the organization. Employee engagement can be considerably enhanced using reviews and feedbacks in revamped and structured manner. The best way of conveying to employees about what their strongholds are, and where they need improvement is through unbiased performance feedback.
Given the opportunity to participate and get actively involved in decision-making that decides the future of an organization makes employees more responsible and increases their values. This can be achieved by properly engaging them in the crucial activities by delivering appropriate and honest feedback that improves trust and helps establish a better employer-employee relationship as well. It must be noted here that adopting one-sided, unfair practice in giving feedback, such as comparing and contrasting may lead to adverse consequences.
Benefits of Performance Feedback
Employee performance feedback is one powerful tool in managing their performance. Properly delivered, regular and timely feedback brings the following advantages:
- Improvement in profitability of the organization
- Increase in employee motivation
- Better Employee retention rate
- Overall productivity is improved
- Performance consistency and control is maintained
""Performance Management consisting of regular feedback in an efficient manner helps in achieving enhanced levels of employee engagement and consequently leads to better performance of the team!"