Part two of the series The Most Expensive Mistake Leaders Can Make

Continually coach: The typical employee today receives minimal feedback from their boss.

According to Gallup, 28% of employees say they receive feedback a few times a year, while 19% say they receive feedback once a year or less.

This means that meaningful, ongoing feedback is nonexistent for nearly half of American employees.

The solution is to provide performance conversations that are frequent, focused and future-oriented.

At a minimum, leaders should provide meaningful feedback to their direct reports every week and provide substantial developmental coaching each month. The mutually agreed on goals form the basis for these ongoing coaching conversations.

Ongoing conversations provide an opportunity to adjust goals as business changes, rather than delay adjustments until formal progress reviews, when it is often too late. They also provide an opportunity to build confidence in times of crisis.

In 2009, the hotel industry in North America dropped 25% in revenue, due to perceived corporate excess during the financial crisis.

In situations like that, you must give your people something to keep them working hard — because they will need to work even harder to get you out of the hole.

During regular conversations, negative issues should be addressed and success should be recognized and praised. Not only do frequent honest conversations keep employees and managers accountable — they also improve perceptions of fairness.

If feedback only happens during an annual evaluation, employees and managers have no opportunity to fix mistakes, make things right and learn.

Additionally, when ongoing performance conversations occur, annual reviews hold no surprises.

A coach must understand the strengths and weaknesses of his or her team and position each person so they can each reach their highest potential for the greater good.

Leaders who trust their employees and managers with autonomy create confident leaders who feel empowered to make decisions.

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