Two major mechanisms have evolved to safeguard genome stability during mitosis: the mitotic checkpoint delays mitosis until all chromosomes have attached to microtubules, and the kinetochore-microtubule error-correction pathway keeps this attachment process free from errors. We demonstrate here that the optimal strength and dynamics of both processes is set by a kinase-phosphatase pair (PLK1-PP2A) that engage in negative feedback on the BUB complex. Uncoupling this homeostatic feedback to skew the balance towards PLK1 produces a strong checkpoint, weak microtubule attachments, and mitotic delays. Conversely, skewing the balance towards PP2A causes a weak checkpoint, strong microtubule attachments, and chromosome segregation errors. The number of MELT motifs on the KNL1 signalling scaffold sets the optimal levels of each enzyme, because engineering KNL1 to recruit too many BUB complexes increases KNL1-PLK1/PP2A levels, and enhances checkpoint/microtubule attachment strength. In contrast, recruiting too few BUB complexes lowers KNL1-PLK1/PP2A, and decreases checkpoint/microtubule attachment strength. Both of these situations are associated with chromosome segregation errors. Together, these data demonstrate how a single bifunctional kinase-phosphatase module integrates two major mitotic processes to help preserve genome stability.