Feedback increases employee engagement. Your team understands that when you provide feedback (both positive and negative), it is one form of professional development. A recent article showed that employees who receive feedback were 1.3 times more likely to feel like their manager was supporting them.
That may not sound like a lot, but it can be the difference between an average and a great performance. Or it could be the difference between an employee that leaves and one that stays.
If an employee feels that they are supported and growing, it takes a lot to get them to leave.