In today’s organizational landscape, technology is rapidly transforming the way we work. In this scenario, it is imperative to relook at how we engage with our employees, especially when it comes to recognition and performance evaluation. According to a report by Darwinbox, 73 percent of organizations today, believe that continuous feedback is the key driver of improved performance. This mechanism is now being adopted by several companies to compliment or replace the annual appraisal system which is becoming increasingly ineffective in providing an accurate picture of an employee’s performance and growth.
The survey gathered insights from 100+ organizations and 30,000 real feedback conversations analyzed over a period of 12 months.
The status quo on continuous feedback: Although a fairly new practice in the talent management space, continuous feedback has already been adopted by a vast majority of the organizations. 76 percent of the organizations surveyed have enabled their employees to engage in a continuous feedback dialogue.
Empowering the employee: By giving individuals the freedom to initiate performance-related conversations, performance management is now becoming an employee-driven initiative rather than being a purely manager-led exercise. 70 percent of the feedback requested was initiated by the employee themselves, in contrast to only 15 percent of the feedback requested by the manager.
Providing a platform for holistic performance management: Continuous feedback makes performance evaluation holistic and increasingly accurate. 83 percent of the organizations chose to facilitate feedback across the organization, while the others preferred employees to exchange feedback within the immediate department. 69 percent of the feedback exchanged were between employees from different departments.
The role of technology in continuous feedback: While not all organizations have formalized the practice of continuous feedback through technology, they have proactively encouraged individuals and managers to engage in frequent feedback conversations in the form of check-ins and one-on-one interactions. While only 39 percent of the organizations enabled continuous feedback conversations through a technology platform, 71.5 percent of them rated the impact of technology-assisted continuous feedback as 7 and above on the scale of 10.