At the end of each year, it’s customary for many CEOs, business owners or managers to have a discussion with their team members or direct reports about their performance over the past 12 months. It’s viewed as a critical exercise and opportune time to reflect on goals, assess progress and set strategy for the upcoming year.
A recent Harvard Business Report stated…..’Feedback is crucial. That’s obvious: It improves performance, develops talent, aligns expectations, solves problems, guides promotion and pay, and boosts the bottom line.’ HBR Find the Coaching in Criticism
The article then goes on to say that although feedback is essential, it’t not always effective. ‘….But it’s equally obvious that in many organizations, feedback doesn’t work. A glance at the stats tells the story: Only 36% of managers complete appraisals thoroughly and on time. In one recent survey, 55% of employees said their most recent performance review had been unfair or inaccurate, and one in four said they dread such evaluations more than anything else in their working lives. When senior HR executives were asked about their biggest performance management challenge, 63% cited managers’ inability or unwillingness to have difficult feedback discussions. Coaching and mentoring? Uneven at best.’ HBR Find the Coaching in Criticism
Receive feedback instead of offering it
What if, instead of providing feedback this year, you asked for it instead? One trait that many top leaders share is the desire to be a better leader. And those leaders are often the ones willing to ask for feedback. Creating and encouraging a culture where feedback is welcome can go a long way to instil trust and create stronger relationships. It can mean your team members feel comfortable and safe speaking up and saying what’s on their minds. Instead of groupthink, you foster an environment of trust, innovation and risk taking. At the end of the day, getting the results you’re after is what’s important.
If you’re a leader who has always encouraged feedback within your organization, perhaps it’s time to start receiving it instead of giving it? Retaining top talent and lack of engagement are two of the biggest challenges facing executives today. Setting yourself apart as a leader, one who is open to feedback, may be the key to solving that issue.
Making this change could set the stage for entering the new year with a team that more engaged and committed to creating success for you and your organization.
Best wishes to all for a successful and prosperous 2019!