Effective feedback is:

• Objective. Don't let your personal feelings get in the way.
• Timely. Feedback should follow when the event is still fresh.
• Constructive. Give respect and show that you have their best interests in mind.
• Actionable. Feedback must include immediate next steps.
• Warranted. Give your employees room for mistakes and learn from them.

It can be difficult to let a coworker know they've done something wrong. It is generally best to give constructive feedback directly and in private.

• Give feedback in the moment.
• Remain positive and genuine.
• Motivate your peers by offering support and encouragement.
• Don't patronize by using compliment sandwiches.
• Comment on your peer's behavior, not their personality. 
• Assess whether you're the best suited to give the feedback or if someone else will have a better positive impact.
• Be open and invite feedback from your peers.

It is essential to identify the employee's strengths, weaknesses, and potential trouble areas to give an idea of how to provide positive and critical feedback, and to what extent.

• Timely: Unspoken issues can worsen over time, but by providing quick feedback can mitigate the issue early.
• Specific: Feedback needs to relate to behavior and you should communicate how that behavior impacted the person involved.
• Balanced: If feedback must be imbalanced, it should weigh more to the positive. Be intentional about regular positive feedback.
• Actionable: “When you do [action taken], it [impact of the action]. Could you [desired action]?”

If an employee is surprised by the feedback, then the manager has not done the job of providing regular feedback before the formal feedback session.

Customer feedback is essential to improving your business. You'll not only figure out how to improve your offerings but also get insights on ways to communicate the value of your product better and even clarify your ideal customer.

• When asking for customer reviews, make the process simple, and provide clear instructions.
• Explain to your customers why you're asking for feedback.
• Time your request for feedback strategically when customers are most interested in sharing. For example, shortly after the purchase or at a significant milestone.
• Make the request personal, so the customer knows it's coming from a person.
• Forms are the easiest way to collect feedback. Forms send directly to your customers have a more personal feel.

• How happy are you with our services? Provide some sliding scale (1 to 10) or a simple choice option, such as happy or unhappy.
• What can we do better? Customers may help you identify areas that need to be addressed and that you couldn’t see yourself.
• Do you have any additional feedback or comments for us?

• Real-time feedback.
• Performance feedback. It is more formal because it tends to be scheduled and covers positive and constructive evaluation.
• 360-degree feedback. It comes from a combination of people connected to the employee, for example, direct reports, peers, managers, other potential raters.