Employees want to know how they’re doing — and they want to know it often. They crave both positive and constructive feedback. What are their strengths? Where can they improve? Where do they stand in the organization?

It’s every manager’s responsibility to provide meaningful feedback on a regular basis. And that doesn’t mean waiting for the annual review to roll around: Employees that are highly engaged at work receive employee feedback at least once a week, and even if you need to track what employees are doing while working remotely you can use an employee time tracking app which allows you to see what they are doing, so you can manage your team best.

If you’re the owner of a business, whether big or small, it’s important that you keep track of business finances. Keeping up with your business’s financial health can be difficult because oftentimes, no matter how much money you make, there always seems to be expenses that are greater than income.

But giving feedback regularly isn’t just beneficial for the employee — it’s beneficial for the team, too. Feedback is a two-way street. Often there are issues among the employees that makes their day to day less productive, and they can be difficult to identify. However, for managers with the appropriate conflict resolution training, these issues can be dealt with promptly and effectively once pointed out. Taking the time to get together with employees to provide feedback and hear their concerns goes a long way in making them engaged.

In fact, 69% of employees say they would work harder if they felt their efforts were being better recognized. Employees who receive little or no feedback from their managers tend to disengage from their work more readily.

Check out the infographic from OfficeVibe for more data showing the importance of giving employees timely, specific, and helpful feedback on a regular basis. (And read this blog post to learn how to give negative feedback without sounding like a jerk.)


Business Wise
The team at Business Wise don't just do bookkeeping and accounting - we believe that successful businesses are those that are informed, proactive and open to change, and we want to help you on your journey to success.