American Express posted a piece discussing the value of faster decision making in business. What they failed to mention is that speed in decision making is part of a person’s behavioral style which is measurable even before you hire them.
Speed in decision making is a function of two factors: Experience and Risk. The more comfortable people are with taking risk, the easier it is for them to make decisions without exhaustive analysis. People with high risk profiles have a naturally large comfort zone in which they can quickly make decisions. Experience expands the comfort zone within which a person is willing to take risks. In other words, people who have a lower risk profile can make quicker decisions if they have a high level of experience in the given area. Take nurses for example. As a group, they are very risk averse and tend to operate well within their comfort zone. So how do emergency room nurses do what they do so quickly? First, they self selected themselves for the job based on their natural risk profile. They are the higher risk takers within a group of low risk takers. Next, they are very well trained. Having done a procedure dozens or hundreds or times makes people more comfortable with deciding to do it again.
So what is the lesson for businesses? If you want people to make decisions faster, hire risk takers and train them well. Behavioral assessments like the Predictive Index can quickly identify an individual’s risk profile and tell you how they will react in a given situation. If you would like to see how Predictive Index would work in your company, contact us today for a free demonstration.