This article applies to users of Business DNA looking to use insights for better team decisions.
Common Questions:
How can I use Business DNA Insights to improve team decision-making?
How can I use Business DNA to get people on my team to make better decisions?
Solution Overview:
This article addresses how to use DNA Team Insights to improve team decision-making in your organization.
Details:
What is your approach to decision-making? Is it the same as your team’s approach?
At some stage, all teams have to make “high stakes” decisions which put the leader and the whole team under pressure. This may include when hiring, laying off people, giving incentives, setting targets and budgets, making an acquisition, or divesting. At these decision points, we know that the behaviors intensify and money motivations kick in. Our Business DNA reports provide the key talent and behavioral finance insights which reveal how every team member will approach decisions.
An individual’s risk-taking propensity, biases with money, need for control, and speed at which to operate will have profound impacts on their approach to business decision-making. There are behavioral biases for these, and these can all be measured, at scale, for an organization.
You will easily see the similarities and differences of each team member, and the overall team approach. Knowing every team member’s inherent strength and struggles in making these decisions will enable confidence, alignment, and commitment and any barriers or fears to be unlocked.
Risk-taking at work:
Business DNA assigns each individual a Risk-Taking number on a 0-100 scale as well as a Business Decision Making Group Allocation on a 1-7 basis. These scores are determined based on the blend of an individual’s natural behavior Risk Propensity and Risk Tolerance, which have been measured in your Business DNA Natural Behavior Discovery. Understanding your employee’s natural behavior around risk can help you make better decisions by weighing their propensity toward high risk or high caution with the proverbial “grain of salt” and give some context for how proposals and decisions are considered and presented. By making risk behavior more transparent, it can be better discussed and addressed based on the decisions that are needed for the team and organization.
How Risk Plays into Budgeting in the Workplace:
Budgeting (financial behavior): Some people are inclined to use more mental accounting and instinct rather than careful attention to precision and detail. Do you know which kind of person is responsible for your finances? Can you see where having that insight may help you weigh recommendations and decisions better for the outcomes you need and want in your business? While being instinctual may not disqualify you from being a good accountant, when signing a deal, you will likely want someone who has reviewed each detail and ensured the accuracy before committing to a course of action.
Taking Charge in Conversations:
The Business DNA packages and DNA API both measure 4,000+ behavioral insights including how individuals approach decision-making such as the Take charge and Cooperative behavioral insights:
Take charge individuals to tend to want to make decisions and move on, they may not take time to understand the impact of the decision on the group or in the bigger picture because of the comfort they have in coming to a decision. It may be good to know if you have a leader who is more comfortable making decisions or one who tends to be more group-oriented and prefers to allow others to weigh in before coming to a decision or conclusion. Each style has its benefits, so knowing how your team is wired can help you call on the right people for each decision to be made.
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