Think about this… when was the last time you gave or received feedback at work? Probably a while ago right? Too often feedback is something that is given only once a year, usually during annual reviews. But the value of feedback in the workplace cannot be understated. Having a feedback-rich culture, where feedback is encouraged and comfortably received, both by and from your employees, can make all the difference in how a company runs.

So let’s take a look at the value constructive feedback has for your organization:

• Creates a purpose: Giving feedback to your employees expresses to them how their efforts contribute to the overall goals of the organization. Giving regular feedback is one way you can show your employees how they are valued in the workplace, and reinforces to them that there is a point to the job that they are working hard at.

• Improves engagement: By creating a culture of feedback employees are able to share their thoughts and ideas and get guidance from their managers when it comes to issues or challenges in the workplace. This open channel of feedback acts as a platform where employees and managers can work together to achieve organizational goals in the most effective way. This helps to build trust between all members of the team.

• Improves performance: Feedback is a key factor in improving employee performance. By giving feedback you’re providing direction by helping your employees understand where they are and where they can improve. In addition, by providing feedback you will also be better able to understand the strengths and weaknesses of your workplace, giving you the insight to build on these and motivate your team.

• Improves communication: Feedback between peers opens up a channel of communication that is an opportunity to resolve any issues in the workplace and find the best and most effective way for them to work together.

• Provides an insight into your business: By listening to what your employees have to say about the day to day of your workplace, you can gain an important insight into what is happening at every stage of your organization. With this insight you will be able to make more informed decisions about and for the business.

• Makes you a better leader: By giving feedback in the workplace you are showing that you’re engaged not only in the daily operations of the organization, but also in your employees’ development. In addition, receiving feedback from your team will help you improve your skillset as a leader. Hearing the perspective of your employees can challenge and encourage you to learn and improve on your leadership shortcomings.

Constructive feedback is an essential tool for establishing a healthy culture, boosting productivity and engagement, driving better results, and has a positive influence over the interactions and teamwork in the workplace. So why not take the first step to creating a feedback-rich culture in your organization today. Take the time to work it into your upcoming workplace projects, keeping in mind that feedback should be present at every stage, not just occasionally.

Need help? With our Executive Coaching Program, we will work with you to help understand and improve your leadership skills, including providing constructive feedback to help maximize the potential of your company.