According to a study, 65% of employees desire more feedback to manage their work better.
Feedback is a key ingredient for an organization’s success. Hence, giving and receiving feedback only once a year is not an effective method. It seems like a stop-and-go improvement that can be frustrating to an extent.
This is why Continuous feedback is becoming an integral part of organizations nowadays. As Feedback acts as navigation for employees, it is becoming a norm in workplaces.
Let’s dive deeper into understanding Continuous Feedback culture and the benefits of implementing it:
What is Continuous Feedback?
Continuous feedback is an act of giving and receiving feedback regularly. The feedback can be exchanged between managers and employees as well as peer-to-peer.
Nowadays, the ongoing feedback culture is becoming popular in organizations. It is one of the efficient ways to help them grow professionally and personally. The people in the organizations become well aware of their strengths and weaknesses. Hence, they improvise and work accordingly.
A performance review is done only once a year which is not the right way to evaluate anyone’s performance. While continuous feedback is an ongoing process that comes with lots of benefits.
- Eliminates recency bias: Imagine you are known to be an efficient and hardworking employee by everyone. But, you got some personal issues to deal with which decrease your performance in the past two months. And when the performance review was done, you were shocked. The evaluation was done only on a recent basis not what you have done the whole year.
Performance evaluation is done annually. Hence, it unconsciously focuses on recent times rather than the whole year. Unfortunately, this doesn’t take the entire picture, and people are either overvalued or undervalued for their work.
This is where continuous feedback comes into the scene. As it is an ongoing process, it avoids unconscious bias and gives only real-time feedback. Also, they are quick and frequent, hence, the right actions can be taken at the right time.
- GOAL management: The primary reason continuous feedback is successful is that it creates SMART and realistic goals. Managers and employees can discuss short-term objectives and long-term goals. And they can review them on a real-time basis. It helps in identifying issues on time and creating effective solutions.
This helps in knowing employees where they stand and what direction they need to take. As a result, It leads to a high-performing and productive work culture that will be there for the long run.
- Gets real-time insights: When open and honest conversations take place at the organizations, it helps address issues and removes barriers. Hence, eliminating the lag time and preventing them from becoming larger problems.
Continuous feedback ensures that feedback is exchanged on a regular basis. As it helps in looking at a clear picture of performance and improvement over time. Everyone at the workplace gets real-time insights into what is going on in the organization.
- Reduce employee turnover: Situation 1: Person A has just started working as a marketer in an organization. As he is new to this field, he would need feedback on what he is doing right and where he is going wrong. But, there is no feedback loop there which is making him directionless and insecure. He left the organization within three months of his joining.
Situation 2: Person B has joined as a marketing intern in a different organization. Besides giving training, the manager is giving her detailed feedback about her work. Because of this, Person B is well aware of his strengths and weaknesses. She is planning to continue working in the same organization as long as she can.
When employees get no feedback on their work, they lack growth and development. Hence, most of the employees leave the organization and look out for options that help them to grow.
Continuous feedback helps in understanding what employees need at what time. What is working out for them and what areas do they need to focus on more? Also, it makes them realize that they are valuable assets to the organization. As a result, this reduces the attrition rate and employees stay for a longer period.
- Improves overall performance: Combining all the above-mentioned points, Continuous feedback elevates overall performance in the organization. It recognizes top performers and encourages them to do better. And also, understands the blind spots of the underperformers and mentors them.
Thus, focusing on every person and raising their performance and productivity. This has a wholly positive impact on the success of the organization in the long run.
In a nutshell
Employees are the backbone of the organization. Without them, the organization wouldn’t be able to reach its full potential. It is the responsibility of managers and HRs to keep them happy and satisfied. And this is why continuous feedback is a vital element of any engaged organization.
HuddleUp is a people-focused platform that aims to bring continuous feedback culture to organizations. You can refer to their website to know more about the software.