Feedback is crucial, especially in a workplace scenario. Simply saying "I really liked your idea" or "You did great!" can significantly increase your co-workers' motivation and make their day! We have to properly praise people when they do something beneficial for the company and give constructive feedback when things don't go as they've planned.
Accepting feedback from others is as important as being able to give them. Listening to what people have to say and actively making efforts to implement the feedback you were given show people you want to improve yourself and your work, and you care about others' opinions.