How To Judge Risk Taking Preferences #2
From the Eye on the Workforce Blog
by Joe Wynne
Workforce management is a key part of project success, but project managers often find it difficult to get trustworthy information on what really works. From interpersonal interactions to big workforce issues we'll look the latest research and proven techniques to find the most effective solutions for your projects.
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In the last post, your were asked to decide between two candidates in a situation where the role would need to exhibit risk-taking to be successful in the project.
Recent studies have shown that common rationales used to make these decisions are inaccurate. Worse, they may amount to stereotypes which will result in people being unfit for their project role.
Here is what we know from actual studies:
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Men do take more risks when it comes to finances.
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Women take more risks when it comes to social situations, such as speaking their mind about an unpopular issue in a meeting at work.
But a third and more powerful point related to risk-taking is that people are rarely consistent in life domains. Just because someone speeds during their commute does not mean they tend to stick their neck out at work.
Just because someone is very cautious with their investments does not mean they will be careful in the office.
Studies tell us that people take more risks when they are in situations where they are comfortable. That's how you find people more likely to take risks when you need them to. Find out if they are comfortable in those situations, if they have experience in similar situations.
For this reason, Qualified Candidate #1 is the best choice in the given situation. She will be more comfortable in the leader role because she has performed that role much longer - and more likely to be comfortable with taking the social risks necessary to be successful.
Did you select correctly? Have you had problems with selecting the wrong candidate in the past?
Posted on: August 14, 2011 10:00 PM |
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Comments (1)
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Richard How
Programme Management Consultant| How Associates Ltd
Harthill, South Yorkshire, United Kingdom
Not sure I agree with the reasons for the selection. Candidate #1 may well be more comfortable as a manager but that does not mean she will be a better manager than Candidate #2. Over the years I have met many managers that have been managers for a long time. Lots of them were not good managers; you only had to look at their teams performance, behaviour and rapport to see that. Also Candidate one is mild mannered and used to managing a mild mannered team. To get this project done you need to take risks and as all risks need to be signed off by the stakeholders there are likely to be some very demanding conversations to be had in order to get approval to do what needs to be done to hit the target. There will also be times when the stakeholders will need to be told that you won’t take the risk they want you too because its too risky. Candidate two who is a competitive skydiver will know how to develop trust in a team and will know how to asses risk, lets be honest if he takes a risk too far as a skydiver he dies. To be able to make an accurate evaluation much more information would be needed otherwise you are just guessing and could still get it wrong.
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