How Feedback Benefits Your Team and Company’s Performance

How Feedback Benefits Your Team and Company’s Performance
feedback improvement

Obtaining feedback can be a quantitative or qualitative approach to finding out strengths, weaknesses and blindspots within your company, team or individual employees.

Whether you’re a manager, executive, or employee, obtaining constructive criticism is always a must in order to further expand your skill set and continuously improve. Continuous feedback is not a new method, by any means, but it’s becoming a trackable and quantifiable way to see a person’s progress, or at least the opinions behind someone’s progress within the organization.

In order to prevent subjective opinions being reflected in feedback, it is essential that a larger mass of feedback is collected and converted into quantifiable data to give a precise performance evaluation.

This is one of the true benefits of using an employee feedback system. It helps with performance reviews by providing a documented overview (along with crowdsourced feedback) of an employee’s performance over time. Whether it was in the past quarter, year, or couple of years, having this long-term view of an employee’s performance can prove that they are (or aren’t) excelling in the workplace, and management can adjust and nurture accordingly.

In the era of big data and analytics, it’s becoming vital to have a system in place to view historical data and critiques of individual’s skillsets. The age of the quantifiable employee is here, and developing and tracking their performance is not only great for personal growth, but it’s also helping with job promotions and organizational success.

How Organizational Culture Affects Feedback Precision

The organization, department, and even the culture around the office, will determine whether employees are likely to give feedback or not.

feedback quantified improveThere are a lot of internal factors that will determine whether or not people feel comfortable critiquing their peers, or
even obtaining critique from others. It’s up to all organizational leaders and influencers to preach the benefits of continuous feedback, and let their employees know that there is no risk in being completely open and honest when giving people feedback.

It comes down to having employees, regardless of hierarchy, that are open to helping one another. Though egos and pride will always creep their way into the office, having a strong system in place that enables healthy exchange among peers is always a plus.

Getting Feedback From Employees About The Company

On the other end of the spectrum, it’s just as important for all employees and managers to provide commentary on how they feel about the direction of the company as a whole. This also includes how they feel certain departments are performing and how they can do better.

This helps the organization threefold:

  1. It gives leadership a concrete view of their organizational goals and structure, and whether everyone is on the same page.
  2. Whether it’s anonymous or completely open, having a way to obtain information from a large (internal) group of employees helps identify higher-level problems and allows for better decision-making as a result.
  3. The best information you can accumulate from an employee’s point of view is what you can do to improve employee engagement. Studies have found that employees that are more engaged show 22% more profitability and are 87% less likely to leave their job than their less engaged counterparts.

WIRL has helped thousands of employees give and receive feedback across Canada, the United States, the Netherlands, and India. Click here to find out more about how WIRL works.

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