The Power of Feedback

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The Power of Feedback

The power of feedback

Giving and receiving feedback is the best way to monitor progress in business. But unfortunately, many businesses aren’t using suitable or regular methods to keep up with their employees. This is a shame because feedback - both from managers to employees and employees back to managers, as well as customers to businesses - is one of the best ways to figure out new solutions to business problems.

Perhaps the main issue is that most employees feel that traditional performance reviews have no impact on their personal performance, and a whopping 92% of HR managers feel that traditional performance management could use some serious improvement.

Creating a culture of regular feedback might sound oppressive but, done in the right way, constructive feedback can give any company a boost in morale and productivity. In fact, even getting feedback on the feedback you give can be of use!

Management to Employee Feedback

Giving valuable feedback to employees is very important for keeping up morale, understanding where problems lie and how to solve them. By focusing on ways to improve business outcomes, any manager can provide constructive, impersonal feedback that is helpful and productive.

Employee to Management Feedback

Feedback should go both ways, so giving employees a chance to give feedback to management is also an excellent idea. Everyone can improve somewhere and as long as the feedback is given in a structured and impersonal way, there is every chance that this could be the making of your company.

Customer Feedback

Customer feedback is vital for businesses, but in some cases it can be tricky to manage. While an authentic positive review can increase your revenue, negative feedback can seriously damage your reputation. Managing this customer feedback is, therefore, essential.

Asking customers for feedback and offering a structured method for them to do this is a great way to see what you are doing well and where you could make changes. Responding politely to all feedback is the best way to show that you take comments seriously and you are willing to put ideas into action.

Have a look at our infographic on feedback to see just how powerful it could be within your business.

The Power of Feedback

Who are STL?

Links:
https://hbr.org/2009/04/feedback-that-works.html
https://www.lollydaskal.com/leadership/power-feedback-make-feedback-constructive/
https://business.yell.com/knowledge/34-essential-statistics-about-online-business-reviews/
https://blog.hubspot.com/marketing/11-employee-feedback-statistics
[url=https://www.helpscout.net/75-customer-service-facts-quotes-statistics/]https://www.helpscout.net/75-customer-service-facts-quotes-statistics/

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