The American workforce is hungry for feedback.
Gen Z and Millennials want to know where they are excelling, and more seasoned employees want input that will help them improve and advance. The great news is that frequent, meaningful feedback works.
Employees who get weekly vs. annual feedback are more motivated and engaged.
- 3.2x more likely to strongly agree they are motivated to do outstanding work
- 2.7x more likely to be engaged in work
Source: Gallup
Regular feedback is a function of trust, a key to retaining employees in the construction industry.
Managers who share feedback at:
- Companies with high/above average degree of trust – 48%
- Companies with average/low degree of trust – 22%
Employees believe they receive meaningful feedback at:
- Companies with high/above average degree of trust – 70%
- Companies with average/low degree of trust – 8%
Source: Autodesk
The not-so-great news is that employees who don’t get feedback or recognition may be more likely to exit an organization.
And, unfortunately, most employers don’t get it right.
- 23% of employees aren’t satisfied with the frequency of feedback they receive
- 17% of employees feel they don’t get feedback that’s specific
- 28% of employees say feedback isn’t frequent enough to help them understand how to improve
Source: Officevibe
Frequent feedback doesn’t have to be rocket science (but technology can help).
Here are three things to remember when giving feedback:
- Don’t wait until it’s annual review time. Short, timely conversations that recognize employees for great performance or provide guidance on how to improve are effective.
- Feedback should come from a foundation of trust. Employees want a genuine relationship that demonstrates you have their back and their best interests in mind.
- Incorporate project reviews. When projects wrap up take the opportunity to recognize employees for their contributions. (But remember, if there’s negative feedback it should be given real-time and not saved up for project or annual reviews.)
Looking to improve how you manage employee performance and offer regular feedback? Arcoro’s performance management module helps construction employers better engage with their employees.
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