Everyone feels more valued when asked for their feedback. Plus, organizations can get a ton of great information and insight by simply asking employees. It’s one of the top strategies for boosting engagement with your workforce.
According to Gallup, companies ranking in the upper quartile in employee engagement outperformed lower quartile organizations by as much as 10% for customer satisfaction, 22% for profitability, and 21% for productivity.
These companies also experienced lower turnover (25% in high-turnover organizations, 65% in low-turnover organizations), 28% less shrinkage, 37% less absenteeism, 48% fewer safety incidents and 41% fewer quality defects.
But at what point does employee engagement feedback begin, and when does it end?
As tools for measuring employee engagement and satisfaction mature and focus in on the employee lifecycle, one thing is for sure: You would do well to begin gathering employee feedback BEFORE you hire. While it may sound strange, it is a good practice to begin engaging with employees before they become employees!
Here are some of the ways feedback can help your organization:
Recruiting has radically changed. It is no longer a transactional process where a recruiter gets an open job, advertises the job, evaluates resumes, makes a hire and moves on to the next one. More and more, recruiting is a relationship-based process where recruiters capture and centralize candidate profiles. They then organize these profiles into pipelines so they can keep candidates warm and engaged before there is a job for them.
More and more, the employee feedback path really begins when they are still candidates and extends all the way to the employee’s exit. How engaged is the departing employee and how likely are they to return? With a relationship based recruiting model, past employees are a great source of future hires.
While pre-hire feedback and engagement is probably not going to depress your next quarter’s profitability, it can impact your ability to hire from that centralized, relationship-based talent pool in a tight labor market.
That said, feedback and engagement becomes much more important during the onboarding process. Though estimates vary, around 20% of all employee turnover happens in the first 90 days.
So employee feedback and engagement has a lifecycle, and each phase presents different challenges and varying levels of importance. Onboarding is clearly a key phase, for example.
For that reason, every HR organizations should map their employee feedback needs to key milestones in the employee lifecycle. Then develop a plan for impacting and measuring it at each phase.
You can use ad hoc surveys like SurveyMonkey or a new breed of program-specific employee/candidate engagement survey tools like Survale to do so. Increasingly, tools like Survale treat candidate satisfaction, employee engagement and employee satisfaction as a holistic journey, rather than a one time survey.
However you do it, it’s time to make sure your employee engagement strategy includes gathering feedback from the entire employee lifecycle, from candidate to ex-employee!