Why Feedback is Important
- 01:51
Why feedback is important for individual and company performance.
Transcript
According to a survey by the Corporate Leadership Council, 50% of employees say that their manager does not provide regular constructive feedback. This is a shockingly high figure as feedback. If constructed well and delivered effectively is the most effective action a manager can take to improve performance. Worse still data provided from exit interviews show that many employees actually leave their jobs because their manager does not provide regular feedback. The facts are clear. Firstly, organizations want managers to provide feedback as it is good for their profit margins. Secondly, employees want managers to provide feedback as it helps them achieve more and stay motivated.
Thirdly, managers should want to provide feedback to their team members because it increases the performance of their team and helps strengthen their professional brand, but only if it is high quality feedback. High quality feedback is feedback that improves the performance of a staff member. High quality feedback is also feedback that recognizes strong performance by a staff member and therefore provides them with a motivational boost. Indeed, 70% of employees say that they would work harder if they felt their efforts were better recognized.