Are we biased against failure?
Vivek Bhatnagar
Turnaround & Growth Leader I Ex Johnson & Johnson I Problem Solver | Builder of High Performing teams | MNC | Own Startup | Indian Promoter Led Company
Of late, there is some appreciation for the benefits that #failure brings. It is still sparsely spoken about, but it is at least getting attention in a favorable way.
Why should it be so? Let’s look a little more deeply at failures and potential learnings therefrom.here is some appreciation for the benefits that #failure brings. It is still sparsely spoken about, but it is at least getting attention in a favorable way.
Why should it be so? Let’s look a little more deeply at failures and potential learnings therefrom.
Failures come in various forms and can impact individuals in different ways. Here are several types of failures that people commonly encounter, along with the potential lessons that can be learned from each:
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1. ?Professional Failures:
?? - Losing a job or being demoted.
?? - Failing to meet work-related targets or goals.
?? - Making mistakes or errors in professional endeavors.
?Lesson: Professional failures can provide valuable insights into areas for improvement, such as refining skills, seeking additional training or education, or reassessing career goals. They can also teach resilience, adaptability, and the importance of seeking support from colleagues or mentors.?
2. ?Academic Failures:
?? - Failing exams, courses, or academic assignments.
?? - Not meeting academic expectations or standards.
?? - Receiving negative feedback or criticism from teachers or professors.
?Lesson: Academic failures can serve as opportunities for growth and self-reflection. They can highlight the need for better study habits, time management skills, or seeking academic support when needed. Embracing failure as a part of the learning process can foster resilience and a growth mindset.
?3. ?Interpersonal Failures:
?? - Experiencing conflicts or misunderstandings in relationships.
?? - Failing to meet the expectations of friends, family, or romantic partners.
?? - Feeling rejected or excluded by others.
?Lesson: Interpersonal failures compel introspection, to begin with. Further, there are lessons in empathy, communication, and conflict resolution. They can provide opportunities to learn about boundaries, assertiveness, and the importance of active listening. Building stronger, healthier relationships often requires vulnerability, openness, and a willingness to learn from mistakes.
?4. ?Personal Failures:
?? - Falling short of personal goals or aspirations.
?? - Making decisions that lead to undesirable outcomes.
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?? - Engaging in behaviors that are harmful to one's well-being.
?Lesson: Personal failures often hold a mirror to the person. Incorrect beliefs about our skills and attitudes may get exposed, initiating a chance to start self-development. They can highlight areas where personal values, beliefs, or priorities may need to be reassessed. Embracing accountability, self-compassion, and a commitment to personal growth can help individuals navigate through personal failures and emerge stronger.
?5. ?Financial Failures:
?? - Experiencing financial losses, debt, or bankruptcy.
?? - Failing to achieve financial goals or objectives.
?? - Making poor financial decisions with long-term consequences.
Lesson: Financial failures can underscore the importance of financial literacy, budgeting, and prudent decision-making. They encourage individuals to develop sound financial habits, reduce undue risks and prioritize financial well-being. Learning from financial failures can lead to greater financial resilience and security.
?6. ?Health-related Failures:
?? - Experiencing setbacks or relapses in managing physical or mental health conditions.
?? - Failing to maintain a healthy lifestyle or adhere to treatment plans.
?? - Ignoring warning signs or neglecting self-care.
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?Lesson: Many examples are known where a person dramatically changes the health habits post a health scare. Health-related failures can prompt individuals to prioritize their well-being and seek support when needed. They can highlight the importance of self-care practices, stress management techniques, and seeking professional help when facing health challenges. Learning from health-related failures can lead to greater resilience, self-awareness, and a commitment to holistic well-being.
?So overall, failures can be powerful catalysts for growth, learning, and self-improvement. By embracing failure as a natural part of the human experience and approaching it with curiosity, humility, and resilience, individuals can extract valuable lessons that empower them to navigate life's challenges more effectively.
?All of the above sounds reasonable, as the person who has experienced any of the above failures and has emerged from it, is stronger now and hopefully will not repeat that mistake and also knows how to revive after failure.
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Now let's look at situation we may have encountered in our professional life. Say, when we are interviewing someone for a vacant position in our company. The moment we perceive a failure somewhere, all sorts of demons wake up in our minds. We become suspicious. We don’t wish to have such a person in our team. God forbid, if we can see a couple of failures, the candidate is doomed.? What happened to our rational alignment with the above analysis of failure?
So, aren’t we biased?
What can we do to overcome this?
Or should we admit that a failure permanently tarnishes the person…
Credit Executive and Vice President - Corporate & Commercial Credit at BMO Financial Group
10 个月Unfortunately, for some people, the fear of failure holds them back from pursuing potential attractive opportunities and taking risks. Failures can provide valuable lessons and build resilience. Organizations have been encouraging the "fail fast" approach to assess projects quicker and be more agile, while encouraging innovation / creativity.
Driving business value - Strategy Consulting to tech powered execution. Digital Transformation. Growth, innovation, & efficiency for promoter-led companies. | Keynote Speaker | Photo Expedition Leader
11 个月Failure sticks (in some cases), as does success. One has to learn to succeed. One example is Ganguly or Dhoni's leadership. Meaning, failure can teach. But continuing failure just teaches you to fail more.
Creating Value
11 个月Failure is the biggest teacher
True sir! We should take failure as a first step to success . It should be taken positively and the learning’s from failure are critical for any individual. Generally people with never to give up attitude come out of failure early. To take a giant leap one has to take few steps backwards.
Consulting | FMCG | Ex-Nestle | Sales & GTM Strategy | Mentorship & Leadership| Shopper/Trade Marketing |Recruitment
11 个月Excellent points Vivek and something which will make all of us ponder on our usual reactions to failures and introspect !!