Have you ever had a great employee quit, seemingly out of nowhere?
They seemed content, were doing great work, and maybe were even in line for a promotion and a raise. If they’re joining a competitor, you may feel especially annoyed or frustrated.
Regardless of how you’re feeling, you now have to start the hiring process. You need to place ads, take applications, do interviews, all of which cost time and money. And the worst part is that you would have given that employee a raise and a promotion if they had asked.
Creating a culture of regular feedback and growth-oriented conversations can prevent great employees from leaving. And creating a 360-degree review system can help keep you informed about employee morale and career plans.
A 360-degree review system is based on the idea that feedback can, and should, come from everywhere. Not only should a supervisor give feedback to crew members, but crew members should be able to give feedback to each other, to their supervisor, and to you.
When feedback is open and ongoing, it becomes a lot easier to talk about raises and promotions. This is why you should also have a documented career pathway for all employees.
Every position in your company should have a growth track. An employee should be able to look at a pathway and recognize the title (and pay) they’re working toward and the specific skills they need to earn that title.
When everyone knows what the requirements are for a promotion, feedback can be more productive – and quantifiable. It helps prevent the frustration an employee can feel when they get a good review but no pay raise and no promotion. Instead of having to say that the employee “isn’t ready” or “isn’t quite there yet” you can point to specific criteria and have a conversation. It makes for more specific and helpful feedback during the review process.
Better transparency means better retention rates. Great employees should know exactly where they stand and how close to a promotion they are at all times. So the next time they see a job posting, they can compare it to a known future before making the decision.
Evaluating employees based on metrics isn’t possible if you’re not tracking them. With the LMN Crew app, your field team can enter information right from the job site.
Check out LMN Crew