Business is fueled by people at all levels. Though not all of them are leaders and managers, all of them make some decisions on a daily basis. And seemingly minor decisions might have big consequences that are not always positive.
Most often than not, this happens due to personal biases that force people into certain decisions that seem good to them but appear to have a negative impact on others and work results. The thing is that neither regular employees nor leaders are secured against wrong or bad decisions that influence business operations and outcomes to a different extent.
While we can’t eliminate a human touch in business, we can recognize our biases and learn how to be more open-minded at work and make less biased decisions.
What Is an Unbiased Decision?
It’s a decision made beyond the impact of any individual prejudices, preferences, anticipations, doubts, and other subjective aspects. Bias-free decisions are based on true-to-life facts, authentic info, and objective data.
Besides, such decisions are non-emotional. They are not impacted by people’s beliefs, personal fears, considerations, or judgments. Likewise, they are free from the impact of social stereotypes, discrimination, and any forced standards. They are neutral and unprejudiced by nature.
At the same time, uninfluenced decisions usually result from thorough and deep informational analysis. As such, they are well-grounded, thought-out, and stem from solid conclusions.
What Defines an Unbiased Decision-Maker?
When it comes to running and managing a business, unbiased decision-making is at the core of good administration and efficient governance that doesn’t tolerate favoritism and solutions ruled by emotions.
An unbiased decision-maker is impartial yet conscious, fair, and open-minded. Making decisions within their powers and authorities, they will:
- Think independently, with a focus on the purpose;
- Rely on internal company policies, guidelines, and rules and will only make an exception if there is a strong reason for that;
- Consider all relevant issues and aspects;
- Stay away from anything not pertaining to making a reasonable decision;
- Thoroughly weigh all pros and cons of the choice they are going to make;
- Decide based on solid proofs and facts leaving guesswork at bay.
Tips for Making a Non-Biased Decision
We all have our own biases that are not necessarily prejudices. Personal factors impacting people’s decisions are determined by
- Educational and professional background;
- Training and expertise;
- Individual experiences;
- Lifestyle;
- Family traditions;
- Ethnicity;
- Religious beliefs;
- Social and political positions, etc.
Many of those biases are unconscious and hide deep inside our heads. We don’t even realize how they affect our choices, judgments, conclusions, and decisions on a daily basis. Hence, it’s hard to stay neutral and be objective at times.
Here are a few tips that will take you through the hurdles of unbiased decision-making.
1. Put Emotions Aside
Appropriate in personal life and situations, emotions are not the best advisors when making professional choices. You should not allow your feelings to guide your decision, especially if it might influence other people.
Surely enough, it sounds simple and is not that simple to achieve. The best way to conquer your emotions is to recognize them (be it anger, disappointment, sadness, anxiety, etc.), accept them, and limit their impact on the decision or choice you have to make at the moment.
2. Don’t Hurry
It often happens that we come under an impulse or an immediate reaction that pushes us into a quick decision that might seem natural. Yet, it doesn’t mean that it’s right. When it comes to business, rushing into decisions is not good.
Random conclusions are not always good solutions, and you can’t play them back. So, instead, analyze your first reaction and the feelings it brings. Then, take your time to get into the situation and consider it from within.
3. Scrutinize Your Options
In most situations, there is no single right solution that lies on the surface. Yet, there is an optimal decision, and you should pinpoint it by considering different alternatives or scenarios you have.
At this stage, you should steer away from habitual behaviors and the course of action you tend to choose. Investigate the data and information you have, consider other possible viewpoints, and take them seriously, not just for the record.
Notably, even if the situation looks standard and you already have a more or less common decision for it, sometimes, an alternative decision can become a game changer and reveal a perspective you haven’t seen before.
4. Evaluate the Outcomes
Assessing the result is by far the strongest decision-making criterion. That’s why you should take your time and effort to look into the potential outcomes of your decisions and if they will be what you expect or count on.
For example, when approving some innovation or renewal investment, investigate its return on business revenue or future growth. Despite the fact that you can’t be 100% precise in your estimations, this approach should be a preferred one in business decision-making since it helps make forecasts and rely on facts, not biases.
5. Ask for Other Opinions
Unless you are limited by internal procedures, or you are a sole decision-maker, welcome an output from your team. Discuss the options you have or ask their opinions. This is where diversity will be the best helper.
It’s advisable that you talk to people of different ages, gender, and life experience. This way, you’ll take a look at your decisions from different perspectives and might come across good ideas. This is how critical thinking works, and you should make it work in your favor.
6. Refrain From Inventing a One-Size-Fits-All Formula
Some situations or problems seem very similar, and people tend to classify or categorize them to invent a common decision formula for each category. Don’t do that. It will take a lot of time and energy to weigh and compare dozens of possible scenarios. In the end, though, you’ll get into a trap of a decision that might turn out to be non-viable.
Even similar situations might call for different decisions at different times. So, don’t bind yourself to your past decisions and always leave a leeway for an alternative.
7. Don’t Hunt for the Best Decision
Don’t try to pick the best decision since there is none. You’ll spend tons of time and all your energy and end up stuck or confused after investigating hundreds of choices. As we’ve already stated, you should pick an optimal decision appropriate for the situation out of those that quickly come to your mind.
Certainly enough, you should give it some bit of thinking and weigh the pluses and minuses, yet, overdoing it is the wrong way to go.
Round-up
Biases have a great impact on decision-making. When disregarded, they could convert into costly mistakes for businesses. So, for companies and leaders, it’s important to acknowledge the power of biases and take steps toward limiting that influence on business decisions.
