ENTREPRENEWS

Benefits of Employee Feedback

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Recent studies have concluded that companies with strong feedback mechanisms in place generally have turnover rates as much as 15% lower than the national average. Many companies offer surveys, but according to sites like Glassdoor, this is the average. Companies that gather real-time feedback and work in a timely fashion to remediate inconsistencies are in the top percentile for employee satisfaction.

Entrepreneurs should encourage their employees to keep an open mind about the company and the way they operate. Vocalizing company strategy can mitigate issues in a timely fashion. Employees who feel like they are heard or contributing, are less likely to leave the company unexpectedly. Additionally, employees on the front lines may have insight on shifting trends among the target market.

PRIMUS Business Management says: Creating a culture where your employees are encouraged to discuss their day to day functions in a constructive fashion has many benefits to strengthen your organization.