|Increase employee satisfaction|
Taking Time Out
Over the past two decades, businesses have become leaner. Managers are expected to achieve more in the same amount of time. As a result, some good practices can fall by the wayside because of the increasing number of demands are made on a manager's time. Recognizing the contribution of productive employees can be pushed to one side, with a manager's attention often focused on the employees whose performance needs to improve or who present disciplinary issues.
An employee performance appraisal is time set aside for each employee, at least once or twice per year (we recommend more frequent and shorter employee reviews). The annual appraisal may be the only time that an employee meets with his manager alone and has the chance to discuss his own work, training, and career development opportunities.
At the appraisal, the manager has the opportunity to present positive feedback and thank the employee for the contribution he has made to the business. This praise is likely to have a motivational effect on the employee because he will understand that his work is valued by his manager.
While recognition from their managers is helpful, employees can also benefit from receiving peer recognition. In a study conducted by Globoforce, a global provider of recognition solutions, 76% of employees wanted recognition from sources other than their manager built into their annual performance review. In companies where employees received peer reviews, satisfaction ratings averaged 88%, compared with an average satisfaction rating of 67% in companies without peer reviews.
It is possible to collect feedback and recognition from peers and subordinates by building 360-degree feedback into your employee performance management system. You can ensure that feedback remains confidential and anonymous by using specialized 360-degree feedback software. Always make sure to use 360-degree feedback to build a realistic action plan.
Giving Timely Feedback
Although it is important to set aside time in the employee appraisal for recognition and positive feedback, it is also important to understand the value of timely feedback given immediately after an employee has performed well. It may be a project completed on time or under budget or a complex piece of work that has been undertaken to a high standard. No matter what your employee has achieved, it is helpful if you have systems in place that enable managers to give positive and proportionate feedback in a timely manner.
Follow these four golden rules when delivering feedback.
Avoid Your Employees Working in a Vacuum
If employees do not receive recognition for the good work that they undertake, you run the risk that they will become demotivated. Without positive reinforcement, employees could drift away from good practice or become less productive. At its worst, lack of recognition can lead to employees leaving the company. By ensuring that employees are recognized appropriately through the performance management system, companies can reinforce positive work practices, boost productivity and retain good employees.
Primalogik 360 can help you streamline your employee performance appraisal process. Give it a try today!
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