The Intangible Value of Continuous Feedback
We’ve all heard it before and we’re going to hear again, “Time is Money”. In a 24/7 age where businesses never sleep, selling never stops, and people have instant access at their fingertips, convincing someone to grant you their attention is harder than ever before. The question you subconsciously ask yourself is…
“What value am I getting out of this interaction and could I be doing something of higher value with my time?”
Often times, tangible value is prioritised over intangible value which distorts the perceived value of an interaction. Evaluating the success of a business or the performance of an employee still heavily relies on measurable factors: Has the share price gone up? Have costs been reduced? Has process efficiency improved? Has the employee exceeded sales targets? What continues to be undervalued and overlooked are the intangible benefits simply because they are comparatively difficult to measure and harder to track.
Similarly, people have the tendency to determine the perceived value of an interaction by first examining the obvious tangible/measurable benefits followed by the intangible benefits. For example, the value of a job offer is heavily influenced by the compensation and less so by factors such as work-life balance, workplace culture, and other non-financial benefits. However in reality, the positive impact of the intangible benefits on a person can often outweigh the tangible benefits.
When interacting with your peers, dedicating the time to provide a colleague, a client, or a friend with constructive advice and feedback has immense intangible value but is often perceived as less valuable due to lack of measurable benefit. Understanding and respecting the value of the time/effort spent providing feedback and having the character to absorb and act upon feedback is the greatest contributor to increasing your self-awareness which will ultimately improve your ability to leverage your strengths and propel your performance to new heights.
Take Control of Your Professional Development by exchanging continuous feedback with your professional network and extract the value of unmeasurable benefits such as increased self-awareness and improved professional relationships to boost your performance.
Check out Candid Colleagues, a professional feedback management app, releasing in early 2017 for Android and iOS devices. If you are interested in receiving exclusive access and directly contributing to future releases, sign up as a beta tester here.
Candid Colleagues Privacy Note: Your privacy will always be protected. You will only be visible on the app if you choose to create an account. You can only exchange feedback with colleagues you have invited or connected with on the app. You will have full control over which feedback is displayed on your profile and which isn’t. You are free to deactivate your account anytime.
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