Last Updated on May 20, 2021 by MoneyVisual
Adopting a feedback culture allows your organization to change the traditional deployment of criticism or a suggestion from the supervisors down to the employees.
Once the mechanism is installed, feedback is given in real-time. Any potential problem is nipped in the bud, and any issue can be addressed before it gets worse.
Although it can be very difficult for one’s ego for somebody else to point out personal shortcomings and deficiencies, ultimately, a strong feedback culture will change that mindset. It does take a lot of self-assurance to take in criticism without getting angry. It’s human nature to lash out when they feel attacked.
However, once everybody knows that any sort of criticism comes from a good place, they would be more willing to change their behaviors, practices, and habits for the good of the company.
Top Advantages of Feedback in the Workplace
Although there is a myriad of benefits in implementing a solid feedback system in the workplace, below are the most obvious ones.
1. It Shines a Light on One’s Weaknesses
People operate in patterns, whether negative or positive. Most of the time, these tendencies are ingrained in their subconscious such that they’re not aware of these patterns. Honest feedback from colleagues will help them see the things they need to improve.
2. It Gives the Employees a Strong Sense of Ownership
Knowing that the opinions of the employees are valued by the company will go a long way to develop employee satisfaction. They are less likely to leave the company for a competitor. For instance, a Gallup survey revealed that feedback could result in 14% less turnover for an organization. When employees are certain about their roles and contributions, their productivity improves.
3. Feedback will Help with the Company’s Bottom Line
Suggestions from your staff who are really on the battleground, so to speak, will keep management’s ears to the ground. This will help them improve their decision-making process. It also keeps the management connected with the employees and can help them implement changes to improve their lives, make their work better, and encourage them to become more productive. In the same vein, employees would want to know their own weaknesses, so they could work to correct them.
Feedback is Not Without Its Challenges
One of the challenges of implementing a feedback mechanism is ensuring the reporting system is accurate. Employees might not give their true opinions out of fear of reprisal. Making the system anonymous will help address this. One tool that you can use is the 360 Degree Feedback. The 360 review has had positive outcomes at many companies in terms of helping an organization harness the feedback for the greater good.
Another challenge is filtering the feedback since it’s generated from multiple sources. The 360 Degree review will also tell you how the tool has its own parameters to drown out the noise. If done right, a strong feedback culture will only help the organization in the long run.
It will provide the management with a remarkable insight into what’s happening in every facet of the organization, from the bottom to the top. An organization can function to its true potential only when there’s a harmony between the employer and employees.