The importance of feedback in teaching

2. Millennials value feedback
Millennials have a different set of demands from employers, and place greater importance on different things in a job than their predecessors did. One of these things is feedback. While 60% of employees reported they want to receive feedback on a daily or weekly basis, this figure shot up to 72% for those aged under 30.
They also grew up in the technological zeitgeist, with the ability to access any information on-demand, whenever and wherever they needed it. 

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  Related: The Future of Work: 5 Key Trends for the Next 10 Years
  

This expectation to have information accessible at their fingertips translates to all aspects of life, from learning a new recipe, to receiving feedback on the job. 80% of Millennials prefer on-the-spot feedback, and that reported feedback was imperative to their growth and understanding.
As Millennials and Gen Z make up the workforce in increasing numbers, companies need to adapt to their expectations. 
3. Feedback improves employee retention
In a study of 65,672 employees, Gallup found that companies who gave strength-related feedback had 14.3% lower turnover than those who gave no feedback. 

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  Related: Five Employee Retention Ideas and Strategies for 2020
  

How to make your feedback effective
1. Make sure feedback is given in real-time (instant)
When feedback is given in real-time it is more relevant, it can be immediately acted on and it creates stronger mental ties to learning material. This all improves the effectiveness of your learning. 
“A general rule is that, the sooner the feedback is given, the better it affects the employee's performance. Thus, according to [Daniels & Daniels, 2004], the immediacy of feedback i.e. how soon the feedback is given, has a strong impact on the effect the feedback may provide.” - Eloise Marthouret, The effect of quick feedback on employee motivation and performance