What are some tactics you’ve implemented to be more mindful of your personal emotions and bias?
: What are some tactics you’ve implemented to be more mindful of your personal emotions and bias? Behavioral economists argue that individuals are not nearly as rational as many models of economics assume. In fact, they believe that individuals are quite influenced by emotions and values (which is not necessarily a bad thing). When making decisions in organizations, how does one weigh the need for objective data (which can be time-consuming to collect) versus the efficient, yet potentially erroneous, use of one’s judgment? In other words, how do we decide when to delay an important decision in order to collect needed data (i.e., statistics) as opposed to just using our instincts? “Emotions, moods, and feelings are ubiquitous in the decision-making process: without them we would behave irrationally. In other words, rationality is the consequence of the intrinsic interaction between cognition and emotions, rather than the result of an independent cognitive process influenced by the latter” (Cecchi, 2015). As humans, we’re wired to feel emotions and experience things in life that trigger certain emotions over time. I don’t think it’s possible to ever fully ignore these emotions, but I do think it’s possible to delay decision making by being more mindful of our biases due to emotion. I don’t think there is a silver bullet to when you withhold and how long you withhold, but I do think there is value in diversifying your panel of advisors and key decision makers. It is not easy to hold ourselves accountable until we have other perspectives to challenge our thought process and remind us of the bias in our thought process. Personally, I’ve experienced this as a people leader multiple times. I’ve encountered performance/accountability situations where I had to hold direct reports accountable, and could feel personal bias creeping in. I’ve made it a standard to always consult with another leader, whether my own or a trusted advisor, to bump my thoughts off of and test out my next steps. This has helped me remember that my perspective is one of many and the way in which my thoughts and decisions are perceived may be different than what I intend them to. I’ve also experienced this as an HR Business Partner where part of my role was to assess data and partner with operational leader to implement strategies to drive positive outcomes. I quickly learned the power of seeking the diverse perspectives of all leaders on the management team versus only assessing the data and driving forward with my recommendations based on my background and expertise. What are some tactics you’ve implemented to be more mindful of your personal emotions and bias? https://www.behavioraleconomics.com/rationality-and-affective-biases-do-you-know-what-they-are/