Fear of failure is not good for business

A recent study that was presented at the 2017 World Economic Forum in Switzerland suggests increased sales and productivity can be achieved by choosing a permissive attitude to failure.

Failure in the objective sense is what happens when a person is trying to achieve goals. Superiors should therefore let their employees know that if they fail at a task, it's not the end of their career.

Encourage your colleagues not to fear failure. This approach might take your organization to the next level.

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By giving your employees permission to fail, you allow them to have self-confidence, even when they occasionally face failure. So even in times when they don’t succeed, they don’t feel devastated.

The authors of the study (including a professor from Georgetown University) claimed that their data indicates that confidence impacts perceived success. Confidence and success create a loop of positive feedback. The researchers surveyed more than 4,000 employees at companies from the US, Brazil and South Africa.

Either take it easy… or watch how creativity shrinks

The research found that when employees are allowed to view failure in a more relaxed way, they're on average 30 % more confident. This boost in confidence leads to better performance.

If you punish failure, you make it more difficult for your people to explore new ideas. The result? Creativity and success become limited, warns the businessnewsdaily.com website.

Telling your employees that it's okay to fail is not enough. You need to create a culture – you need to communicate clearly that failure can be a positive thing.

Confidence is a trait that changes over time. Confident employees are more optimistic about the future and more likely to think outside the box to overcome workplace challenges.

-jk-

Article source Business News Daily - website focused on new entrepreneurs
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