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If the work is reported to be ok or fine by your subordinates, maybe you need to dig in deep and probe more.
The employee reporting to you may be struggling and not providing the true details of the situation.
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It pays to highlight the strength an employee brings and then to work on minimizing the weak aspects. Start and work with the impact and value the employee is making to your team.
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Ownership and accountability need to be defined so that your team knows who is responsible for what.
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Instead of the sandwich approach to provide feedback, try to be direct and dispassionate.
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Get a nod or a confirmation on the feedback that is delivered, so that it is clear and the employee hasn't taken away something unexpected or unintended from your conversation.
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Diversify work within the team so that the long term and short term goals are both taken care of.
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Have goal-oriented and clear meetings, only when it is important and necessary.
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Show that you trust your team by delegating work and giving people big problems to solve.
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There's only so much that you can achieve working on your own, that's why it's important to delegate effectively. To successfully delegate:
Whatever approach you prefer to adopt, you also need to bear in mind that different people have different needs when it comes to motivation.
One size does not fit all. Some individuals are highly self-motivated, while others will under-perform without managerial input, and you need to be able to handle both.