Any company is now data-driven... but delivering data when you talk about feedback, coaching and management might be tricky.
That’s why we made some research to find out the ROI of coaching employees through frequent 1:1 meetings and we summed up the 5 most important statistics in these infographics, beautifully crafted by Joséphine Rotivel.
Gallup (the reference in employees’ engagement) explains that one of the easiest ways for managers to start promoting engagement is to establish regular meetings with their employees. One of their studies quantified the impact and found out that it triples the employees’ engagement, compared to employees who work for a manager who does not meet with them regularly.
Adobe is famous for replacing annual performance reviews by continuous feedback. More precisely, they implemented a process of one-on-ones every two weeks. An article in Forbes explains that « The improvement in morale has led to improvement in hard numbers as well. Adobe has seen a 30% decrease in the number of employees quitting. »
Globoforce made a survey to measure if employees would work harder if their efforts were better recognized and appreciated. It appeared that 77% of the respondents said they would.
NOT running frequent 1:1 meetings with your employees will lead to employees disengagement. The @Harvard Business Review quantified it and showed that « Employees in this situation (not having frequent 1:1’s) are four times as likely to be disengaged as individual contributors as a whole ».
A Fortune 500 firm wanted to determine the ROI for a coaching program through regular one-on-ones. It appeared that « a 529% return on investment was produced by the coaching process (excluding the benefits from employee retention) » and significant intangible benefits to the business. The coaching had an impact on the decision-making, team performance and motivation which led to financial benefits as a result of increased work output.
Running frequent one-on-ones is one of the easiest ways for managers to boost employees’ engagement. If you’re not doing it yet as a manager, I highly recommend you to start, for the good of your team motivation, well-being and productivity.