Companies should encourage employees to take risks. Many believe if employees are not taking risks they are probably not working to their potential. Varuni Khosla asks experts five ways through which managers can encourage employees to take more risks:
Lead by Example
Managers often need to take risky decisions in order to achieve innovative outcomes. It is imperative for managers to not just introduce and encourage innovations within an organisation but also implement them to set an example for others, said Peesh Chopra, managing partner, Peesh Venture Capital.
Face Rejection
According to experts, approval must be expected as default outcome while rejection should be a considered decision. If the manager wants to say no to an idea, he or she should write a two-page thesis explaining why it's a bad idea. This will result in more ideas being tested, said Mohit Gundecha, co-founder of Jombay, a company built on people science and analytics.
Open to Ideas
Saying yes to most suggestions will encourage experimentation and make it an important part of an organisation's culture. "The biggest risk is not taking any risk," said Facebook founder Mark Zuckerberg, reminded Rajeev Thakur, director, Grassik Search Pvt Ltd.
Right Platform
A formal platform for new initiatives will give employees more confidence to come up with new ideas, said Vidur Gupta, co-founder of Spectrum Talent Management.
Be Proactive
Managers should avoid spoon-feeding employees and tracking all their moves. They should instead encourage a culture of minimum viable feedback and give people room to experiment, said Gundecha.
Lead by Example
Managers often need to take risky decisions in order to achieve innovative outcomes. It is imperative for managers to not just introduce and encourage innovations within an organisation but also implement them to set an example for others, said Peesh Chopra, managing partner, Peesh Venture Capital.
Face Rejection
According to experts, approval must be expected as default outcome while rejection should be a considered decision. If the manager wants to say no to an idea, he or she should write a two-page thesis explaining why it's a bad idea. This will result in more ideas being tested, said Mohit Gundecha, co-founder of Jombay, a company built on people science and analytics.
Open to Ideas
Saying yes to most suggestions will encourage experimentation and make it an important part of an organisation's culture. "The biggest risk is not taking any risk," said Facebook founder Mark Zuckerberg, reminded Rajeev Thakur, director, Grassik Search Pvt Ltd.
Right Platform
A formal platform for new initiatives will give employees more confidence to come up with new ideas, said Vidur Gupta, co-founder of Spectrum Talent Management.
Be Proactive
Managers should avoid spoon-feeding employees and tracking all their moves. They should instead encourage a culture of minimum viable feedback and give people room to experiment, said Gundecha.
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