When was the last time you received feedback outside of a scheduled one on one or formal performance appraisal?  When was the last time you offered feedback to someone and did not wait for a formal setting to deliver the feedback?

Receiving feedback is a basic human need that we all have and is necessary in order to grow and develop. Successful leaders provide feedback and they welcome reciprocal feedback by creating trustworthy relationships with their team and colleagues.

Here are a few interesting statistics produced by Globoforce & Gallup that exemplify why providing continuous feedback is critical to increasing employee engagement and achieving overall organizational success:  

• 40% of employees are disengaged as a result of little to no feedback
• Employees are 30 times more likely to be actively engaged when managers focus on their strengths
• 69% of employees said they would work harder if they felt their efforts were being recognized
• Organizations that foster a culture of giving and receiving feedback experience 15% lower turn over

When delivered appropriately, feedback can turn underperformance into high performance and engagement.  We need a combination of both positive and constructive feedback to help nurture our strengths and develop areas of opportunity.  Looking beyond the statistics, here are a few insights as to why providing continuous feedback is so important:

1. Unites individuals and teams with a shared purpose and goals

A shared core value we have as human beings is the desire to feel needed, appreciated and to be part of a community or team.  Knowing that what we do is meaningful and contributes to something or someone in a positive way, gives us a sense of purpose and accomplishment.  Feedback is a mechanism that unites individuals and teams by sharing insight on what is working, what needs work, and how everyone is performing and contributing to achieving shared success.  

2. Fosters growth and development

Be honest, do you recall the last time someone gave you productive feedback? Provided insight on your work or simply mentioned something about you that you that you did not know about yourself? Feedback allows us to look at situations and ourselves differently.  It unlocks self-reflection and often triggers positive changes and growth. The same can be said for giving feedback. We see situations and others through our own of self-perception of ourselves.  That’s why giving feedback is just as important as receiving feedback, because it makes us think, reflect, and consider other perspectives.

3. Catalyst for change and innovation

Does your organization proactively solicit feedback from your customers on the quality and overall satisfaction with your products or services?  That approach is the bare minimum to run and operate a business today.  The best source of ideas will come from the people that use your products and services, and in turn your employees who support your customers.  Soliciting and providing feedback can often act as a catalyst for change and innovation.   If companies valued the importance of giving and receiving employee feedback as much as they did their customers, achieving exceptional performance and high levels of employee engagement would come easily.

“Feedback is the breakfast of champions.”‍

Ken Blanchard

There are many other insights that support why providing continuous feedback is critical to driving employee engagement and bottom line results for your business.  What does providing continuous feedback mean to you and your organization? Please share your ideas and experiences, we would love to hear from you.