#4. The Status Quo Bias or The False Security of Keeping Everything As It Is

K., an engineer at a major retail company, was on the lookout for new opportunities. Eventually, a tech startup offered him an interesting job. After agonising over the pros and cons, he ultimately turned it down, thinking it was safer to stay where he was. However, when the economy took a downturn, he ended up losing his job regardless.

For some of us, it may seem counter-intuitive, but keeping things the way they are is just as risky as opting for a change. There's actually a name for this: "status quo bias." This bias leads us to prefer things to remain the same by doing nothing or by sticking with a decision made previously.

Why does it happen?

It is rooted in our natural hatred of losing things and our dread of the unknown. This fear can make the risks of shaking things up seem way bigger than the potential benefits.

This is entirely a game of perception. It's not just about viewing our current situation as familiar and a potential pivot as unknown and therefore risky. There's more to it. Somehow, we tend to see our current situation as static, as if it will remain the same in the future as it is now.

Let's imagine you're weighing a job offer against your current position. The new boss is an unknown entity, while your current boss is familiar and predictable. The new role offers many benefits, but your current job also has its share of interesting tasks, and so forth. We often fail to realise that we're viewing our current situation as if it will remain unchanged in the future. We struggle to think of it dynamically, yet change is inevitable. Your boss could change. Your role could evolve, with no guarantee it'll stay the same even three months from now.

So, the biggest illusion here is that it seems we're comparing certainty with uncertainty. But in reality, we're comparing two uncertainties.

How does it trip us up?

For those at a turning point, missing out on opportunities stands as the main drawback. No opportunity comes with a guarantee, and indeed, many opportunities may not hold up under a thorough risk assessment. Thus, we weigh the pros and cons, striving to make the right decision. However, the quality of this decision could be questionable if we fail to assess the risks associated with the 'safer' option of maintaining the status quo.

Actually, keeping things the same won't reverse the process of change that's already underway. The fact that you've been searching for new opportunities suggests that change is overdue. Pretending everything can stay the same is like ignoring the loud ticking of a clock. It's not about if you should change, but how. Anyway, you need to change something at work, even if everything else stays put. Let's face it, sticking to the status quo just isn't in the cards anymore.

In sum: the sense of security we get from keeping everything as it is might feel instinctive, but it's misleading. Although sticking with the familiar might seem safer, the risk remains the same. Since certainty is elusive in either case, why not hitch our decisions to something we can get behind, like what interests us and what makes life fulfilling?

In this series, we're breaking down hidden biases and systematic errors that get in our way when we’re rethinking our career or trying to figure out what’s next. They might slow us down or even make us pivot in the wrong direction. Let's unpack them together!?

As always, I’d love to hear from you!? If this piece sparked any thoughts or reminded you of your own experiences, please don't hesitate to share!