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The genuine importance of regular feedback.
One morning last week, I received the following whatsapp from my brother.
I have had lots going on lately, so I had forgotten we had just passed 8 years in business! It was a great little boost to receive in the morning, and felt all the better as it was preceded by no fanfare — it was just someone trying to show some support.
This got me thinking about something that is often lacking in the world of Accounting… feedback.
Feedback, especially in the first few weeks and months, is critical
Feedback, especially in the first few weeks and months, is criticalI cannot explain how important feedback is in the initial stages. Starting a new job is really hard, and anything you can do as a manager to support the new hire will help!
Ideas:
- A little 5-minute chat at the end of the day
- Regular feedback as the first bits of work are handed over
- A 1-2-1 at the end of the initial week
Feedback helps people settle in, and the sooner someone settles in, the quicker they start producing!
Don't let things snowball
A lack of feedback can allow initially small problems to snowball into something much bigger long term. We see this a lot with deadline expectations, timekeeping and hybrid working. If something isn’t working initially, give that feedback and move forward on a cleaner slate!
🚀 Don't ignore the hard conversations
Its so easily done. But ignoring hard conversations about poor performance means the problem will grow. This will impact the wider team, they will notice! You will also be surprised how often negative feedback can have a positive impact, when delivered in the right way.
🚀 Not all feedback needs to be big, planned, or formal
As my WhatsApp message shows, not everything needs to be a formal one-to-one. Little comments, the odd email, a quick chat whilst you walk to the car park… they all help.
In reality, good feedback needs to be multilayered and multi-channel, so mix it up a bit!
🚀 But some feedback needs to be formal
You will know what suits your business best, but regardless, there should be some planned 1-2-1s with your staff. Weekly, monthly, quarterly, even yearly can work. But a structured, planned meeting is important from time to time.
🚀 Don't just go through the motions
The best staff often rarely get told how well they are doing. It’s so easy to let the high performers get on with their job, whilst the problem child takes all of your attention. Make sure the people who are your high performers get reminded from time to time!
🚀 The best are often ignored
Senior staff get ignored too
I constantly hear from brilliant Finance Directors who say they lack direction, support, or a mentor. Somewhere around £60k, and especially past £80k, reviews seem to stop happening. But senior people still want development and support – it just doesn’t need to be as frequent, since they’re more self-sufficient. Left unchecked, though, it’s easy for them to become the “lonely FD.”
If you’re an MD or CEO with a star FD, and you’re not acting as their mentor – find them one. It’ll pay off.
The Takeaway
If you manage staff, regular feedback is arguably the single most effective way you can drive more performance from your team.
Support them, look after them, and they will pay you back!Â
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