Creating a culture of employee feedback is no longer viewed as just a “nice to have” or something that happens once a year at formal performance reviews — it’s an increasingly important part of year-round performance management and development.
Why? Employees are asking for it! Frequent feedback helps employees feel seen and valued, both in their strengths and in their opportunities for improvement. Gallup estimates that disengaged employees cost U.S. companies $450-550 billion a year in productivity, and employees who don’t receive any feedback are 40% more likely to be disengaged.
Ongoing employee feedback conversations help keep employees engaged and giving their best to the company, which directly impacts the bottom line.