A successful entrepreneur recently told me one of the main things he tries to determine when interviewing potential employees is their capacity to give and receive feedback.
Everyone involved in his start-up, he said, must be comfortable offering constructive criticism in real-time to bosses and subordinates and taking constructive criticism (“taking” is different from acting on all criticism). Rapid iteration of the sort that drives new companies can only happen if feedback constantly flows throughout the office.
I totally agree. You can never spend too much energy honing your skills at giving and receiving feedback. It is the distinguishing factor between those with “good” people skills and “great” people skills. Good businesspeople, and great businesspeople.