The vast majority of employees don’t receive enough feedback from their managers and peers. Only 19 percent of millennial workers say they receive routine feedback, and 17 percent say the feedback that they do receive is meaningful. This is a major issue when you consider that most companies only conduct performance reviews once a year or less; Gallup found that nearly half of employees are reviewed annually while an additional 26 percent say their performance is reviewed less than once per year.
SEE ALSO: Performance Management Benchmark Report
So, how are employees getting feedback on their performance during the long months between reviews?
Put it in the context of today’s fast-paced world: Social media allows us to receive instant feedback. You can see immediately when someone likes or comments on your post. People can watch your Instagram story and respond in real-time. Think of those social media interactions as feedback. You wouldn’t post something on Facebook and then leave it alone, not revisiting the post for another six or twelve months. So, why take that approach with your work performance?
If you wait until your mid-year or annual review to hear feedback, you’ve missed the opportunity to learn and engage in a meaningful conversation. You’ve already moved on, because you have six months of work that’s fresher in your mind.
When you think about the issue through that lens, perhaps it’s no surprise that only 14 percent of employees surveyed by Gallup strongly believe that the performance reviews they receive inspire them to improve and only two in 10 strongly agree that their performance is managed in a way that motivates them to do outstanding work.
However, the blame isn’t all on management. The same Gallup survey found that only 15 percent of millennials strongly agree that they routinely ask for feedback. If you’re not getting the amount or type of performance feedback that you need, then it’s time to start asking for more. Why?
You’ll (Probably) Be More Engaged
Gallup found that millennials who regularly meet with their manager are more than twice as likely as their peers to be engaged at work. How often is “regularly”? The same study found engagement to be highest among employees who meet with their manager at least once per week.
Does that mean that you should be asking for feedback every week? Not necessarily, but consider telling your manager that you’d like to schedule a weekly one-on-one meeting. They’ll be impressed by your initiative and those meetings will provide a natural setting for feedback conversations.
You’ll Have Time to Correct Mistakes
The sooner you can identify mistakes and weaknesses, the more time you’ll have to correct them and improve your performance. If you wait six months to hear constructive feedback, you’ve missed a valuable opportunity to meet your manager’s expectations and demonstrate that you’re capable of growth.
You’ll Be Better Prepared for Reviews
74 percent of millennial employees say they have been “blindsided” by feedback during a performance review. By consistently discussing feedback, you’ll have a better grasp of where you stand, how your performance is perceived, and what to expect during reviews. You’ll also have a record to draw upon when discussing promotions, compensation, and your future with the company.
Learn more about Reflektive’s Real Time Feedback service here.