What methods can you use to encourage risk-taking in your workplace?

Clear definition of risk taking goes a long way in streamlining the efforts and approaches in a common direction. Risk taking is a calculated decision making which evaluates multiple aspects related to a situation, problem statement, decision making. Risk taking is a part of continuous improvement and should be followed up with the process of learning and adaptation.

El miedo al fracaso es una aspecto importante y un componente cultural elevado. Nuestra formación, nuestros valores como individuos afectan negativa o positivamente en la toma de decisiones y sobre todo en la asunción de riesgos. Otro tema clave dentro de muchas organizaciones, es la propia cultura empresarial, metodologías y jerarquías que determinaran en gran medida la asunción de riesgos por parte de sus empleados.

To start with, create a safe environment for risk taking by: Clear communication that risk-taking can result in failure and take these up as a learning rather than a discouragement. Encourage Growth mindset by that compliments and values learning from well intentioned efforts. Set the expectations clearly and realistically and measure the progress frequently.

Acknowledge and appreciate the efforts towards risk taking, encourage sharing of learning even if the outcome of risk taking might not be a complete success. Create visibility about the risk taking and outcomes achieved, learning gained using the multiple communication forums available, recognize the efforts by creating and incorporating the rewards mechanism in existing R&R structure.

Don't limit the discussions and communications within a certain group or team. Be willing to get the ideas from cross functional teams, be open to your approach to risk taking be challenged by rest and do the careful assessment and evaluation of the approach to come up with the most inclusive and effective risk taking approach. Being open to listen and getting challenged by other viewpoints is the best to further streamline the risk taking approaches.

Celebrate the risk taking behaviours even if these are not entire successful. Risk taking is not an aspect of trait that can be perfected or entirely embedded into one's working style or thought process in a single sitting or instance. Clearly define what part of risk taking has delivered results and what improvements need to be made and learning to be implemented for next situation/scenario/decision making. Create a learning log so that the knowledge repository is created for future references.

The biggest obstacle to creating an environment where risk-taking is encouraged is prevailing attitudes towards the concept of failure. From an early age, we are conditioned to see failure as the antithesis of success rather than a crucial step on the path to success. Controlled failure, that is failure which is properly accounted for, where the potential risks are known and communicated in advance and the potential benefits outweigh the risks, is a key step towards meaningful innovation. As the old idiom goes, 'no risk, no reward' - the key is to truly understand the risk and to never stake more than you are willing to lose.