The number one reason workers perform below par is they don't knowwhat they're doing wrong. Whether you're dealing with an entry-level worker or a top manager, feedback is critical and leads to a more productive workplace.

Even when people understand their jobs, they're generally looking for ways to learn and improve. Annual performance reviews help by giving employees an overall idea of how they're doing. But that isn't enough.

One way to do this, of course, is by offering praise. Simply telling workers that they're doing a good job inspires them and boosts their productivity.  

But equally important is constructive criticism. Point out weaknesses, but be careful to provide concrete suggestions that employees can use to improve their performance. Many managers worry that correcting employees will make them quit.

However, it's more likely they'll bolt from the frustration of continually falling short of personal and company goals. In the long run, it's better to tell your staff in a sensitive manner what's wrong and how to fix it.

A study by the consulting firm DDI International shows that workers with high job dissatisfaction have a 58 percent chance of quitting, while those with high job satisfaction have only a 22 per cent chance of jumping ship.

Helping employees be more fulfilled in their jobs lowers turnover and helps your company maintain a healthy bottom line.