We share the most important employee feedback statistics so you can better engage with and develop your people.
Employee feedback plays a crucial role in shaping a positive and productive workplace culture.
It not only helps organisations understand their employees’ needs and concerns, but it also fosters growth, boosts engagement, and drives innovation.
From sharing one to one feedback to collecting feedback from a wider team as part of an appraisal process, employee feedback is essential to continually improving standards.
In this blog post, we’ll cover:
- What employee feedback is
- Why employee feedback is important
- Key employee feedback statistics to take note of
- How to incorporate employee feedback into your development strategy
Let’s get started.
What is employee feedback?
Employee feedback refers to the process of providing constructive comments, opinions, and suggestions to employees about their performance, behaviour, and overall contribution to the organisation.
It involves sharing both positive and negative feedback to help individuals understand their strengths, areas for improvement, and align their goals with the organisation’s objectives.
Employee feedback can be given by managers, peers, or even through anonymous channels, and it serves as a valuable tool for enhancing communication, fostering growth, and nurturing a culture of continuous learning and development within the organisation.
Why is employee feedback important?
Employee feedback is important because it allows your people to get access to insights on their progress, helps them feel valued and supported, and enables them to make necessary adjustments to improve their performance.
Without feedback, employees may not be aware of how they are performing and may struggle to reach their full potential.
Employee feedback helps to build a positive company culture based on trust and transparency. When employees feel that their input matters and is valued, it improves their morale and engagement, which in turn leads to increased productivity and retention.
By providing guidance and constructive criticism, employees can make necessary adjustments to improve their skills and contribution to the organisation.
Ultimately, employee feedback acts as a catalyst for individual and organisational growth, enabling employees to reach their full potential and contribute to the overall success of the organisation.
13 key employee feedback statistics
By prioritising feedback and developing a feedback culture, organisations can nurture a motivated, engaged workforce that drives success.
Here are 13 key employee feedback statistics that you should look at before deciding how to incorporate feedback into your learning and development strategy.
94% of employees would stay at a company longer if it invested in their career development
When employees start in a new role, they’re looking for a company that is going to invest in them as much they’re investing.
Constructive, useful feedback can help your employees find ways to develop within their role. And it shows them there are steps for them to take to improve and advance their career.
Employees who receive regular praise and recognition are 10-20% more productive
Positive feedback of course has a huge impact on morale, and consequently, productivity.
Regularly praising your teams looks like:
- Sharing good news stories in company-wide channels
- Personally thanking your team members for their work
- Highlighting where team members have excelled, no matter how small the task
70% of employees believe feedback improves workplace culture
360 feedback isn’t just about employee feedback. It’s a way of engaging other colleagues into the development of their own team members too.
Doing this can really help drive workplace culture as it helps get your employees working together on their own development.
Recognition can lead to increased trust
Giving your employees more feedback and recognition can help improve trust not only between you and your direct reports, but also between your employee and their colleagues.
Being able to have frank and honest conversations will allow your employees to better trust their organisation’s leadership.
Regular feedback improves job satisfaction
According to Harvard Business Review, regular feedback correlates with increased job satisfaction levels.
And remember, this isn’t just positive feedback.
Constructive feedback can have huge ramifications for your people too as it gives them something to aim for and areas to improve.
Recognition leads to higher engagement
Showing you value your colleagues and employees through regular feedback can lead to them being 3.6 times more likely to be engaged in their roles.
Encouraging engagement can be difficult to do. Applying a strong feedback model is a good way to develop engagement.
Feedback drops turnover rates by 14.9% promotes employee loyalty
When you’re looking at improving your retention rates, one good way to address it could be your feedback strategy.
Giving your staff something to work towards can make them feel valued, like they can see progression and choose to invest in their career.
Only 26% of employees believe annual performance reviews are effective
Annual performance reviews are necessary, but if managers are waiting until this point to deliver feedback, then employees are going to be left unhappy.
Ideally, you should be sharing your feedback regularly, as and when you need to.
🚀 Pro Tip
With a tool like ThinkLoop, you can collect feedback as and when you need to. It can help you create more meaningful development for your employees.
Feedback frequency alters depending on your generation
72% of millennials desire feedback on a daily or weekly basis. So, it’s important for employers to take this into consideration when thinking about how often you give feedback.
And feedback can impact millennial job hopping too
43% of millennials are more likely to leave their current role within two years if they do not receive regular feedback.
As such, there are some clear long-term goals to encouraging feedback, especially among your millennial employees.
88% of employees say their managers play a crucial role in accurate and timely feedback
Timing is key when it comes to good and proper employee feedback.
And it’s clear employees feel the same way. Instead of waiting to give feedback, you should take the opportunity to present it as and when you can.
Organisations that implement anonymous feedback systems receive 58% more honest feedback
When you’re looking at encouraging employee feedback, you might want to consider offering anonymous systems.
With ThinkLoop you can share anonymous surveys to colleagues and team members.
Establishing feedback can help align employees to your goals
68% of employees who receive consistent feedback feel satisfaction in their job’s alignment to organisational goals.
By setting clear goals and ensuring you’re feeding back to your employees you can ensure they’re kept on track.
Plus, it means that they can set goals to match the organisational goals you have set too.
Implement your own employee feedback
These statistics clearly highlight the significance of implementing a robust employee feedback system within organisations.
Regular feedback not only boosts productivity and engagement but also improves job satisfaction, retention rates, and overall organisational success.
By recognising the importance of feedback and creating a culture that encourages open communication, organizations can create an environment where employees feel valued, supported, and motivated to give their best.
ThinkLoop is a powerful tool that tags onto your learning management system. With it, you can create conversations across teams and colleagues to open transparency, increase employee development and drive company success.
Build your own questionnaires and reports to suit your organisation’s culture and needs.
Book a demo to see it in action, and learn how you can give more to your organisation.