The art of giving effective feedback to your team – advice from great actuarial leaders

Years ago, we had a new graduate who was not fitting into the team well. This young actuarial aspirant was trying to demonstrate their enthusiasm and proactivity by making decisions and communicating with clients without appropriate review. People were rolling their eyes, comments were made, but who was going to actually deliver some effective feedback to help this graduate?  

When I sat down and explained the situation to the new graduate, they said “Oh what a relief! They told me in the interview they wanted someone who could take initiative, but I don’t feel like I know enough yet to do so!”. So an opportunity for an open and honest conversation about expectations opened, and trust deepened after having the courage to give this valuable feedback.

Can feedback really help improve performance?

A joint study by the Australian HR Institute (AHRI) and University of Sydney Business School uncovered some alarming findings about performance management in Australian organisations. A survey of HR professionals in May 2021 were asked about current and planned performance management practices in their organisations. The study showed[1]:

1.     Giving feedback is the best way to improve performance.

The provision of ongoing feedback was the only practice that appeared to have even a “somewhat effective” effect on improving employee performance.

2.     Giving feedback is linked with improved performance more generally.

Performance management was more likely to be linked with employee development in organisations where ongoing feedback is currently used.

3.     Following the shift to remote work, giving feedback has fallen off the agenda for many teams.

The shift to remote work as a result of lockdowns has taken its toll on both managers and employees. Many organisations report a reduction in performance management and in some cases feedback ceased altogether.

Whether you are improving poor performance, or taking your team from good to great, a culture where managers can give ongoing feedback is vital.

How you give feedback is important

I have written previously about the importance of knowing your own communication style and understanding how to adapt when communicating with others who have different communication styles. Choosing the right time, place and approach to give feedback can set you up for a more productive conversation. Getting into the habit of giving both positive and constructive feedback helps build trust and develops a culture where feedback conversations are regular, expected and practiced.

So how do we give feedback?

You may have been taught how to use a variation of the situation/behaviour/impact “SBI” model, which can be a helpful formula when giving feedback. One great actuarial leader I’ve had the pleasure of working with Jennifer Lang, Actuary and Non Executive Director, likes to use this technique:

“I try and use the form "when you did x, it had this effect on the project, or on the team. That was a good/bad outcome. If it was good, do more of it, if it was bad, try doing this different thing instead". For example, “When you arrive late for meetings, it gives the rest of the team the impression that you don't think their time is important. That's bad for them, and for their opinion of you. Please turn up on time for meetings, so that everybody's time is respected.””

What else can help great actuarial leaders to give great feedback?

It’s clear that great leaders need to give feedback. If the idea of having a feedback conversation leaves you in a cold sweat, read on for some tips and tactics shared from other great actuarial leaders:

1.     Know why you are giving the feedback

Firstly, make sure you know what you are trying to achieve by giving the feedback. As Annette King, 2021 Senior Vice President of the Actuaries Institute, points out: People like feedback, as long as it’s constructive and given with the right intent to help the person improve.”

Susanne Szoldra, a life insurance actuary who has managed teams in both industry and public sector roles, reminds us that feedback provides an opportunity for people to develop. She says: “Don’t be afraid to give constructive feedback, come at it from a growth mindset – what are the opportunities to make improvements?”

Genevieve Hayes, Actuary and Data Scientist suggests explaining why you are providing the feedback: People are more likely to take on board an item of feedback if they can understand where you're coming from and how they can benefit from adopting it, than if they are just told "I think you should do it this way because I'm your manager and I say so”. If people can't understand why they are doing something, they will just go back to their old ways the moment they think no one is watching.”

2.     Don’t delay but keep it future focussed

Good feedback is timely! Sam Maitra, GI actuary and entrepreneur, prefers giving feedback in real time, or as soon as possible after the event. Actuary, Adviser and Facilitator Martin Mulcare agrees: In short, unless your time machine works better than mine, there is no point in providing feedback on what someone “should have done” in a past scenario. By all means, use past examples to illustrate a lesson but it must have a future application perspective. This is very important to remember for “once only” events. There is zero value in telling your spouse what he/she should have said in their speech at your child’s wedding. It’s done – better to (genuinely) compliment your spouse and remain joyful at the event.”

3.     Separate the actions from the person, but remember both!

Regardless of how you approach a feedback conversation, it is always wise to stay focussed on the relevant facts, actions and behaviours, as well as why things need to change. Jennifer reminds us: “Feedback should always be about actions, and their effect. Feedback shouldn't be about someone's attitudes, or intentions.”

However, we are all people doing our best, and Douglas Isles, Scottish-born actuary working in investment management, highlights the importance of being honest “It’s really just about being honest. But, knowing how to be honest without causing offence can be quite daunting at first.”

Sam also points out the importance of establishing psychological safety What I’ve found is that when people feel threatened or anxious (whether it’s just nerves heading into a performance review, or if they know it’s going to be a difficult conversation) then communication is inhibited. They are more likely to take feedback as negative and can become upset and defensive. I find it really important to pick up on these cues early and deliver the message accordingly.”

4.     Make it a two-way dialogue

In my experience, often when you raise a feedback point with someone, they will already have some awareness of the issue. They may even be better placed to find a solution than you are. Don’t feel like you need to have all the answers, remember to ask questions and listen.

Martin agrees “Start with a question, e.g. “Next time you are presenting to a large audience, what do you think that you will do differently?” If they are self aware, then you will have an opportunity to validate their self-assessment and perhaps tweak it. If they are not, the feedback will be more difficult but you will be able to build your feedback on something that they volunteered.”

5.     Give feedback when things go well

Jennifer also points out that feedback isn’t just about improvement: “If you catch someone doing something excellent, tell them, and tell them why it was a good thing. Feedback also doesn't need to be about enormous issues, it can be about small things that make a difference. For example:

“When you brought a jigsaw into our break room, you could see the team started to chat with each other more as they put pieces into the puzzle while they made their lunch. That made a real difference to their understanding of each other and their ability to work as a team. Thanks for your thoughtfulness, of thinking of something that our team might enjoy, and doing something about it without being asked. I'd love any other team building ideas you might have.” 

Many people find it easier to give positive feedback. The next time you notice a team member doing something great, reach out and tell them what you saw and why you thought it was great. By regularly giving feedback when things go well, you will build trust with your team and you may feel more prepared to give feedback that requires more significant behavioural adjustments.

6.     Practice!

Very few of us find it easy to give feedback, so it can help to remember that this is just a skill that can be learned and will get better with practice.

Annette encourages people to practice the words and even role play the conversation: It will come out more natural and authentic if you’ve practiced the words and thought about the possible reactions and how to handle them.”

If you are really struggling with these conversations, consider doing some further training. Douglas points out the value when teams do this training together To give good feedback or to have good conversations, I think you almost need both people to have trained in having difficult conversations. There’s sort of a formula to this whole thing. But I think if the other person isn't aware of the technique, it can be quite odd!”

And if you are still feeling nervous about the idea of giving feedback? Genevieve suggests preparing for the discussion. “I typically write myself a script. I might not use the script when I have the conversation (in fact, I usually don't), but the very act of writing the script helps me to put my thoughts in order and figure out the angle in which I want to approach the conversation.”

And the story at the beginning?

My courage to have this conversation was inspired by some advice that one of my own managers had given me:

“Give the hard feedback. Especially as a new manager, it can be difficult to do this as it can make us uncomfortable - however I realised that by not being honest, I was actually harming the other person's career by not giving them the opportunity to improve, and the knowledge of where they were not meeting expectations, it became a lot easier to just do it. Be prepared to help them think about ways they can improve too - don't just leave them to it!”

Conclusion

Being able to give constructive feedback is a critical skill for managers and great actuarial leaders, but it doesn’t always come naturally. Which of these tips will help you in your next feedback conversation?

 

Want to learn some practical skills to have easier workplace conversations? Click here to find out more about our six week online course:



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