One of the most critical tools for improving the health of your company is employee feedback. Though it may come in many forms, this type of feedback refers to the information exchanged between members of a company about the workplace. The two most common types of employee feedback are internal surveys and online employer reviews. However, the information collected is only useful to your company if followed by directed action to address employees’ comments and concerns.
Why Employers Should Act on Feedback
Employers should act on employee feedback because doing so can improve employee engagement, productivity, and attract new talent. Research shows that neglecting employees’ concerns can have significant negative implications for company growth. According to a survey conducted by Leadership IQ, only 4% of employees would recommend their company as a workplace if they perceived their feedback as being ignored.
Ultimately, it is a valuable tool for understanding how a company is performing in the eyes of its employees. It can tell leaders what it is going well and, more importantly, how the company can stand to improve.
How to Implement Employee Feedback
So, what should companies do with employee feedback? Take it seriously, implement changes wherever possible, and be proactive.
Take Employee Feedback Seriously
Employer review websites like Indeed and Glassdoor are only growing in popularity, with 250 million and 50 million unique monthly visitors, respectively. While these sites can have a substantial impact on prospective applicants’ impressions of a company, they are also critical for measuring the workplace experience of current employees.
Though employer review sites may seem like forums for employee complaints, the feedback they provide is crucial to improving the workplace.
For the best results, read every review or survey response your company receives and take all feedback seriously. By analyzing every review, rather than just a select sample, it is possible to identify both the strengths and weaknesses of your company’s workplace. Further, both positive and negative reviews have value. They can highlight what your company is already doing well, provide insight into the ways in which your workplace can improve, and reveal some of the most common reasons employees may leave the company.
Implement Changes Based on Employee Feedback
It’s critical to implement changes in the workplace to address employee concerns.
For example, imagine both current and former employees have left reviews online lamenting your company’s lack of adequate work-life balance. While the first step in responding to this feedback may be to analyze the distribution of work among employees and leadership, you can also consider offering work-from-home days or additional time off to immediately counteract the imbalance. By responding to this critique and taking steps to improve work-life balance, you can build up an aspect of your workplace culture that is more highly valued by U.S. employees than health benefits.
Be Proactive in The Workplace
A proactive approach, which actively seeks new ways to better employees’ experience rather than waiting for feedback, can have a tangible financial impact. According to a Deloitte study on employee engagement, companies that implement proactive measures around workplace culture experience revenue growth that is, on average, 516% higher over a ten-year period than companies that do not.
Monitoring industry trends in employee feedback allows employers to develop a proactive, rather than reactive, plan of action to improve their workplace culture. From this perspective, general employee feedback can be considered long-term advice rather than a series of short-term complaints.
Most importantly, proactivity relies on taking concerns seriously in the first place. By thinking critically about why employees may be giving negative feedback, recognizing areas where negative feedback is common, and continuously evaluating the implemented solutions, companies can improve employee health, satisfaction, and retention.
Get Started Right Away
While sourcing feedback, taking it seriously, and implementing changes can be a lengthy process, it can have a measurable impact on the workplace. Gallup research has shown that well-executed plans that have a positive impact can increase employee engagement by as much as 10%. Beyond that, employees who feel that their feedback is taken into consideration will likely be motivated to contribute more ideas for improving the workplace.
By conducting your own internal survey, assessing feedback, and taking steps to proactively improve your workplace culture, your company can become a great place to work. At Barometer, we can help you analyze your survey results and provide insights on your existing workplace culture to guide your plan for improvement. Click here to learn more about how we can help!