With the growing imbalance in demographics, the rise of technology, and a revived focus on employee experience, continuous feedback has today become a pivotal part of talent management in every organization. While most organizations believe in the potential of this mechanism - there is still a lot to be done in terms of laying the groundwork, actively driving adoption and employing the data gathered to better understanding employee behavior.
Darwinbox surveyed over 100 organizations and gathered insights from real feedback conversations to analyze and identify current trends, dominant choices and employee behavior towards this new practice.
Here are some key insights from the report:
Three out of every four organizations have enabled continuous feedback in some form
76 percent of the organizations surveyed have allowed their employees to engage in a continuous feedback dialogue. Of the remaining, 60 percent plan to leverage it within the next year.
Out of this 76 percent surveyed organizations:
- 75 percent of these organizations had feedback enabled across all levels of the hierarchy while others have selectively enabled for senior & middle management.
- 45 percent of the organizations have observed employees exchanging feedback at least once a month.
- 39 percent of the organizations enabled continuous feedback conversations through a technology platform.
73 percent of organizations believe that continuous feedback will drive improved performance
It was found that by adopting the practice of continuous feedback, attrition rates are bound to come down. Thus creating a productive, engaged, and genuinely empowered workforce.
67 percent of the reviewers who shared feedback voluntarily were outside the immediate hierarchy of the employee
By bringing in the perspective of more than just the employee’s direct stakeholders, continuous feedback makes performance evaluation holistic and accurate.
All this while serving as a medium to increase interdepartmental interaction, engagement, and learning.
86 percent of feedback conversations were initiated on request; whereas 14 percent were shared voluntarily
Enabling continuous feedback enables a culture of ownership where employees take charge of their performance management and growth trajectory. By giving them the freedom to initiate feedback conversations, performance management is now becoming an employee-driven initiative rather than a pure manager-led exercise. Trends observed across organizations reflected this behavior.
The report also found that organizations perceive that the right technology platform will boost adoption and eventually, the ROI of continuous feedback. Technology holds power to moderate how continuous feedback can be administered by organizations or the ease with which employees can exchange conversations on-the-go with mobile or voice-based feedback.