Some companies have a strong employee feedback system already in place. Others think it’s a waste of time. But the truth is, if you aren’t actively seeking feedback from your employees, you are missing out.
Here are 6 ways your company can benefit from employee feedback in the new year.
The most productive employees in any workplace are those who feel empowered to make decisions and try new ways of doing things. Implementing an employee feedback system lets your team members know that you value their opinions and are supportive of them. You will also gain valuable insights that can help you restructure workgroups to boost production.
Stronger Employee Engagement
Not only will your employees be more productive when you start soliciting feedback, but they will also feel more engaged. They’ll feel like an important part of the organization rather than just a number, and this can translate into renewed motivation to always do their best.
Enhanced Job Satisfaction
A general sense of dissatisfaction can lead employees to start looking for greener pastures elsewhere. But how can you know if your employees are satisfied, or develop perks and opportunities to improve satisfaction if you never listen to what they have to say? Collecting employee feedback lets you learn what’s important to your employees and how you can help them feel more satisfied with their jobs.
Increased Employee Retention
Taken together, improving employee engagement and job satisfaction can improve employee retention rates. When people feel happy, engaged, and heard at work, they are less likely to leave. This gives you a more solid team that can grow together, rather than constantly adapting to new hires.
No one is a perfect leader, but it can be tough to see your own weaknesses. Ideally, you will create an atmosphere in which your employees feel comfortable critiquing your performance directly. But even if they choose not to do so, you can learn a lot about areas in which you need to improve by listening to what they do say. As you start to make better decisions, the entire team will benefit.
It Costs Money NOT to Listen
No matter how hands-on your management style is, you can’t be everywhere at once. Your employees serve as your eyes and ears on the floor. They implement your big plans, and they hear directly from customers. This means that they’re perfectly positioned to let you know when something is draining your profits. Without feedback, the best you can do is guess at where to direct your attention and budget.