How Continuous Feedback Improves Millennials Participation in Performance Appraisal Process?
The millennial world may seem completely alien. But the amount of transformation they are bringing to the workplace is immense. There is an added pressure on companies these days because if they fail to engage this generation at work, it could have detrimental consequences on your business. Millennials are increasing in the business. They would occupy half the global workforce by 2020. As this generation has walked into our workplace, they bring along with them innovative ideas. Baby boomers were pretty much satisfied with what they had; however, millennials crave feedback on a continuous basis.
They are demanding only in terms of getting guidance from their managers and have real-time conversations with their leaders. If their needs are not met, they don’t think twice before quitting the firm. Half the time a lot of companies undermine the demands of millennial employees because they are often perceived as being entitled and demanding. However, according to a study by Gallup, Millennials are the least engaged generation in the workforce. Only 29 percent are engaged while 55 percent are not engaged, and 16 percent are actively disengaged.
Therefore, the only way to motivate millennials and create a high-performance company culture is by investing in the strongest tool at your disposal: continuous feedback.
Let us look at some of the reasons why Continuous Feedback engages millennials during performance appraisals:
Continuous feedback reflects the standards of the digital age:
Millennials are digital natives. Their lives have evolved around speed and immediacy of the internet. Since, millennials get immediate and instant feedback on social media, they feel so connected to continuous communication on digital platforms. No wonder they expect the same connection even at work. The traditional performance appraisal process does not work anymore because millennials often feel in the dark when it comes to their performance appraisal, since they are used to being in a place where they have instant access to information.
Annual performance appraisals are rudimentary and vague. When performance appraisals don’t help them in any way, they will switch jobs naturally. Therefore, performance appraisals must be paired with continuous feedback because it is readily available, immediate and constant.
The need for open dialogue
Millennials are perceived to be ambitious and hardworking people. Therefore, having a one-way conversation is not going to do them any help. The only way they are going to feel valued is by having an open dialogue with their managers. Millennials want to be in a place where they can share their opinions and ideas in a structured and constructive manner. Which means they totally want the opportunity to share their opinions during performance appraisals.
One-sided feedback or irregular feedback leave no room for dialogue. However, continuous feedback gives more room for dialogue. Regular conversations create more transparency, whether you have it face to face or on digital forms. It requires only minimal effort from managers to make your employees feel valued and heard. Through continuous feedback you can keep your employees updated on their performance and progress and help them share their opinions. It also makes it easier for managers to keep them aligned to the objectives of the company.
They want to improve
Millennials have the desire to learn and grow. There is competition everywhere and it is only fair that employees need to work their way up to the career ladder. Therefore, millennials want feedback to know how they can perform better. They want to excel in their role. Continuous feedback keeps them on the loop. It helps them understand where they stand and how they are performing. This way they are better equipped to develop.
Training and personal development
Millennials are ambitious and the two things that they really care about are training and development. They hunt for learning experiences and be challenged by their leaders. Continuous feedback helps them figure out their next steps and set clear objectives. Continuous feedback during appraisals help them to improve areas that they need to work on. Offering feedback at regular intervals makes your employees realize that you care about their personal and professional development.
Continuous feedback helps companies to bridge the gaps that employees have with their managers. It helps employees to monitor their performance and formulate solutions to issue that they face during performance appraisals. Continuous feedback helps your employees stay motivated and participate actively during performance appraisals.