Effective management is more critical than ever in the world of leadership. According to the Chartered Management Institute (CMI), the UK is facing a significant management skills gap, with only 16% of UK managers feeling confident in their ability to lead and manage effectively. This gap is costing UK businesses an estimated £43 billion per year in lost productivity and innovation.
As we navigate through the complexities of the modern workplace, the role of managers becomes paramount in steering organistions towards success.
In this blog, we’ll delve into the transformative power of emPerform’s 360-degree feedback tool, exploring how it empowers managers to reach their full potential and cultivate a culture of continuous improvement…
The Significance of Empowering Managers
Managers are the foundation in shaping organisational culture, driving employee engagement, and achieving strategic goals, however, they face unprecedented challenges in the dynamic business environment of today. From adapting to technological advancements to navigating remote work complexities, empowering managers is no longer a choice but a necessity.
The benefits are immense – increased productivity, enhanced innovation, and improved employee satisfaction contribute to organisational success. The impact of effective management on employee engagement is clear; a study by the CIPD found that engaged employees are 21% more productive, 22% more profitable, and 67% less likely to leave their jobs, however, only 10% of UK employees are considered to be highly engaged. This figure could be directly impacted by managerial structures – we believe a better and more empowered leadership team may directly influence the engagement of employees.
Unleashing Leadership Potential with 360-Degree Feedback
After noticing the correlation between employee satisfaction and under-developed managerial skills, we created a solution: 360-degree feedback. This approach provides a comprehensive view of an individual’s leadership skills and performance by collecting feedback from various sources, including colleagues, direct reports, and supervisors. emPerform’s 360-degree feedback tool takes this a step further, allowing managers to gain valuable insights, receive constructive feedback, identify areas for improvement, and foster a culture of transparency and continuous learning.
Ken Blanchard Companies found that 72% of organisations that use 360-degree feedback report improved managerial performance. Additionally, 67% of managers who receive 360-degree feedback say that it helped them to develop their leadership skills.
These statistics don’t come as a surprise – harness the power of multiple perspectives to identify strengths and develop performance with emPerform’s integrated 360-degree multi-rater reviews and assessments.
The tool offers customisable feedback forms, a user-friendly interface for seamless feedback collection and analysis, comprehensive reports for actionable insights, and integration with other performance management systems for a streamlined process. It’s not just a tool; it’s a catalyst for managerial success.
Empowering Managers for Sustainable Success
Real-world success stories attest to the transformative impact of 360-degree feedback on manager empowerment. Organisations that have embraced this approach witness increased employee retention, improved customer satisfaction, and enhanced profitability. The key lies in the ongoing commitment to manager development and continuous feedback loops, creating a ripple effect of positive change throughout the organisation.
Kevin Dawson, Talen Director at Barnes Dennig, said: ““emPerform has allowed us to make the performance review process a positive experience. Employees are now excited to get feedback, and supervisors have become all-star coaches.”
Furthermore, the UK government has set ambitious targets for innovation and productivity. Effective management is essential for driving innovation and improving productivity, as it can help organisations to create a culture of creativity, collaboration, and continuous improvement.
Empowering managers is not just a choice but a strategic imperative for organisational success. As you navigate the path to unleashing leadership potential within your organisation, consider emPerform’s 360-degree feedback solution as your guiding light.
Take that crucial first step towards a culture of continuous improvement and organisational triumph. Visit emPerform’s website or contact their team today – your journey to managerial empowerment begins here.