Skip annual reviews and do check ins with employees instead
Curated from: fastcompany.com
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Retaining employees
The biggest issue facing employers today is finding and keeping top talent. This is particularly true for startups and high-growth tech companies.
Employers need a head’s up as to why employees may be on the job hunt. However, a single annual performance review or satisfaction survey will not be helpful.
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Regular employee feedback is crucial
Research shows quality feedback is a key indicator of employee satisfaction and ultimately retention.
However, practices like 360-degree feedback and annual reviews are dated, cumbersome and often inefficient because they address employee successes and challenges out of context and do so far too late to take action. As a result, leaders could end up with a disengaged workforce that is always on the job hunt.
The solution is weekly pulse surveys to see how employees are doing, not how well they are performing.
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Measuring culture and other intangibles
Relying on technology for regular, automated feedback is invaluable.
- Regular surveys provide valuable insight into employees' mindsets, which is different to the performance review in which employees hear how they may fall short.
- Weekly stats can show managers where they stand compared to previous weeks. Perhaps seasonal patterns will emerge.
- The right questions can address things like autonomy, flexibility, quality of life and teamwork.
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Translating feedback into action
When the survey is complete, employees immediately receive a snapshot that indicates where they are thriving and where they are less than satisfied.
The manager can use the anonymous survey outputs to drive formal and informal conversations with their team members and fellow managers.
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Invent and wander
One survey question such as "What else can we do?" can cause employees to pursue a new idea.
This approach can be particularly effective in younger companies which often attract more entrepreneurially-minded employees.
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