After hiring an employee, it's important to turn your focus to motivation and retention. This is where feedback loops become important. You likely spent a lot of time recruiting and hiring the right talent, and you want them to stick around.
Perks Are Only Part of the Equation
Perks are great, but many millennials aren't just interested in a high salary and great benefit. The evolving paradigm for a modern work environment includes a team of employees who want to make a difference while contributing to the company. Employees want to feel fulfilled within their roles, and feedback loops can help.
What Are Feedback Loops?
Prioritize regular and consistent feedback. This is especially important for new hires, because you want them to get used to receiving feedback on a regular basis. Feedback loops start with good communication. You must tell or show an employee exactly what he did, and then let him know if he's doing things properly.
The loop comes into play when the employee has questions. Expect the employee to ask questions about the feedback he received, and provide detailed answers. The next time you talk to the employee, give positive feedback about his willingness to learn by asking questions, then provide new feedback. This feedback loop continues to build as if the two of you have an extended conversation that evolves over time.
Why Are Loops Important?
This type of feedback does several things. It lets employees know the right direction in which to move when it comes to performing day-to-day duties and meeting the company's goals. Feedback loops also outline clear expectations and transparency. When you make things absolutely clear for your staff, motivation and retention follow, because your team members know exactly what to do and how to do it. They're also aware of the role they play in the company's overall plan. Retaining and motivating employees also saves money, because you won't have hire new staff members as often.
Effective feedback strategies have a regular, scalable process. Start by gathering information from your employees. This information includes questions they have, any suggestions they have to improve the company and any shortcomings that workers may see in their roles. Once you have this information, develop a plan to correct any problems. Involve your employees in this corrective process so they can take ownership of their ideas. Letting your employees take the reins further increases their engagement.
The benefits of continuous feedback are huge. You identify minor problems before they become major hassles. Nipping minor problems sooner rather than later helps you make improvements more efficiently, because it's easier to correct minor things rather than going back to undo something that perpetuated for months or years.
The most important thing about feedback loops is that they let employees know they are valued within your organization. This goes a long way when it comes to making your employees feel happy at work. As an added benefit, happy employees generally stick around and do their best work on a daily basis.
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