Finance News & Insights

Quick! How fast is your feedback?

On your mark, get set, go!  The speed of your feedback can make a huge difference in its effectiveness.

Whether Michael totally botched that report or Brittany came up with a great way to save a step at month-end, you know feedback is a must.

Not something you want to wait until next week – or even the next day – to offer.

Turns out, the speed with which managers dole out both praise and constructive criticism makes a major difference in how much it’s taken to heart.

To ensure you get the maximum mileage out of the feedback you provide, be sure it is:

  • Immediate. Your best bet? Give the feedback, positive or negative, the minute the behavior occurs. That shows staffers that you’re watching and appreciate their efforts – or want to set them on the right path ASAP.
  • Appropriate. You certainly aren’t going to call out Michael about that typo-riddled report mid-meeting. But try and catch him just after. That betters your chances you won’t endure a repeat performance.
  • Personality-targeted. This applies more to positive feedback situations. Depending on the individual, your praise may go even further if you give it in front of that person’s peers. On the other hand, the public praise will make that individual cringe, resist the urge to share the success and take a private moment.  
  • Frequent enough.  Think for a moment: Can you remember the last time you offered some type of feedback (positive and negative) to every member of your team?  If not, you might want to work on that. [See — immediate feedback!]
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