My organization does yearly engagement survey as well as monthly. As a manager, I found them both useful. The former is useful because the vendor that conduct

My organization does yearly engagement survey as well as monthly. As a manager, I found them both useful. The former is useful because the vendor that conducts it does it across entire organization, and you're able to analyze data by different departments and teams. You also get comparison metrics against industry benchmarks. Also, if you're a manager worth his/her salt, you would probably agree with the survey result at a high level already. Where the survey comes in handy is, helping you prioritize which problems to tackle to first. Sure it's a 'lagging indicator', but that's why the survey doesn't focus on questions that would fluctuate highly. Examples: "Does your manager give you clear directions" or "does your organization communicate overall company strategy" etc. We also supplement it with informal, brief monthly anonymous feedback that focuses more on short-term issues and qualitative data. Do I want weekly survey? No. That's what weekly 1:1 is for. You should have enough rapport with your employees that they feel comfortable sharing their concerns or joy through 1:1 channel. If not, they can always use the monthly anonymous feedback.