A small feedback can impact your employee performance review

HR performance management

A small feedback can impact your employee performance review

By Newwe - Sep 19, 2022

The conventional performance review was restricted to being just a part of HR responsibility in organizations. With the change in work norms and culture, there is a huge shift in cascading organizational and departmental goals or OKRs. Currently, employee-centric activities are encouraged to lead to career growth and organizational success. Once in a blue moon kind of reviews have been overruled with continuous feedback. This initiation of just-in-time corrective action programs helped organizations to get rid of loss in individual and organizational productivity and performance.

“More than a third of U.S. companies have already abandoned the traditional performance appraisals.”

With advancement in technology almost every organization, small or large enterprises have some repository of data or information stored to track their employee's and organizational performance. But somewhere the challenge still exists on deriving meaningful insights from the raw data to take informed business decisions. In addition, progressive organizations end up using multiple business applications and unfortunately most of the applications do not talk to each other. Hence irrespective of the advancement in usage of software application, organizations often fall short to scale the exact outcome, and to take predictive decisions based on facts.

Why just in time performance review? Theoretically, employee performance should be done every day. Just think about it, you posted a story on a social channel and how often do you check for views and comments? You sure get thrilled when you see people reacting to your story and sharing their comments, right? Absolutely yes! What does this say about your behavior? We often look for instant gratification in the form of recognition and feedback. Now, don’t you think the same logic applies for an organization as well. Employee's need regular check-ins, they want more-frequent, performance-and-development focused conversations with their managers, and they need more collaboration, engagement, and recognition.

For this reason, many large enterprises are shifting from their traditional appraisal systems to continuous feedback performance management. Not to be surprised, technology-based firms such as Adobe, Deloitte and Microsoft are leading the path. And here is why:

Improves workforce productivity

Exchange of on time feedback, when done multi-directional, helps managers and team members spot the areas of improvement as well as areas where each team member excels. This practice helps for a holistic adaptation of people-first culture in an organization. It initiates a sense of people-first culture in an organization with a clear goal to motivate, train and inspire the workforce to upgrade and take the next challenging role. Conducting peer-to-peer feedback between managers and employee's results in a strong and positive impact on collaboration at work, plus inspires employee's to re-discover performance with increased productivity.

Boosts team engagement and collaboration

Organizations that were the long-time proponent of traditional performance review management systems have axed their annual performance review model leaving no stone unturned to follow practices that can help them accelerate results in better employee experience at work related to engagement, career growth, work-life balance, training, collaboration, and promoting tools to improved performance. The conventional performance review process depends on posterior analysis alone. In contrast, modern performance management combined with continuous feedback is more evaluative as it introduces regular check-ins between organizations and employee's, constant conversation between managers and employee's, and collaboration with peers instantly. This provides an opportunity for organizations to lay the foundation to instantly gratify their employee's, encourage them to share constructive feedback, welcome value-added suggestions, and appreciate employee's’ valuable contributions.

Helps to understand the blind spots

To build trust among employee's, the leadership role has changed while managing GenZ. Feedback – both positive and negative – is essential to identify employee blind spots. Here, data plays an important role in recording every minute of initiatives that can emphasize individual and organizational growth. It helps managers to enhance individuals’ best qualities and address their mistakes, helps them work on their weaknesses so they can excel at leading. Individuals are inured to weaknesses or mistakes often and might fail to identify by themselves. With the advent of ML, AI, and Predictive Analytics, organizations can significantly take advantage of the technology at work and track the hidden potential of their employee's along with associated threats that may lead to collapse in process and organizational growth. Feedback from managers about strengths as well as weaknesses help employee's understand their blind spots, else feedback with just criticism creates an environment that inhibits learning.

Reinforces business growth and self-development

As an organization, you need to keep personal growth and business growth entwined unless you want to miss a beat. This goes without saying - having a meaningful conversation with employee's related to work, their passion and career goals will help your organization to improve its growth. Employee's can experience their impact on every contribution and get recognized on time. This boosts ownership and seeks collaboration to improvise and set a benchmark to perform. According to a McKinsey report, approximately 75 percent of employee's said they have an effective performance in a place where their managers give constant feedback and training when needed.

Initiates focused conversations on KPIs and KRAs

The modern Performance Management software like Newwe helps your team stay focused on each of their KPIs and KRAs. Managers and employee's can initiate focused conversation on goals while this acts as the digital footprints of challenges the team is enforced to achieve their goals. If the trials and tribulations persist over time, employee's can request assistance from their peers or managers to overcome the challenges and achieve goals on time. This way, an organization will be able to get a clear picture of work-in-progress, skills development status and coaching given to each employee. This data can be consolidated and be useful for an organization during their performance management reviews at any point of time and can be referred to analyze performance level of each employee and their progress.

Demonstrates appreciation in the workplace

There are a range of continuous feedback tools that help you instantly recognize and give spot rewards to your employee's for their achievements. Recognition through continuous feedback is the best way to enhance employee collaboration, engagement, and optimization, while inspiring others to stay motivated and help each other at work.

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