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Giving Feedback is Good for Business
Other research has shown that where good appraisals are conducted, followed by effective development planning, productivity and quality of service can rise significantly. However, poorly planned and executed appraisals are estimated to cost the UK economy over £2 billion in wasted time and expenditure.

Helen Astill of Cherington HR views this as a concern, “Those businesses that do not give staff regular feedback are missing out on opportunities to make sure that their people continue to be motivated and contribute positively to the business. They are also not acting quickly enough to tackle performance issues as they arise. This can make the problems more difficult and more costly to resolve.”

Simon Jones, acting chief executive at Investors in People UK, agrees. "Annual reviews can be hugely beneficial for employer and employee, identifying areas for development as well as ensuring the employee feels motivated, engaged and part of the organisation's success.”
Many managers do not understand the benefits of carrying out effective appraisals. To help you address these issues and improve staff and business performance, the next few articles take a more detailed look at appraisals and performance management.
Posted on 19 Nov 2016

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