Real-time feedback is an ongoing process in which employees can communicate with each other about their performance in an informal yet documented way. Managers might want to share constructive feedback to a team member, someone may want to give public recognition to a peer they worked on a project with, or maybe you want to leave a note to yourself to bring up at a later date. Why are so many top companies moving towards this kind of system? Here are a few key reasons:
It turns out that [72% of] employees are hungry for much more feedback than they currently get. A real-time feedback solution can improve employee satisfaction and engagement.
A lighter-weight feedback solution saves times compared to the implementation and meetings associated with performance reviews. This allows more time for career conversations.
One of the biggest problems with the annual review is the inherent recency bias due to their infrequency. Real-time feedback let’s you capture performance feedback accurately.