May 19 2019 0comment
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Confident decision making. It’s great if you have the ability to back it up!

Confident decision making. It’s only good if you have the ability to back it up!

A person’s abilities are important because they underpin the formation of accurate judgments, leading to better decision making. But cognitive confidence is what turns ability into action. As a person’s cognitive confidence increases, so does the likelihood that they will act decisively on their judgments. That’s good when people have the ability to back it up, and not so good when they don’t!

Some of the worst errors in decision making are concerned with a mismatch between a person’s confidence in their abilities and their actual abilities, and in particular, overconfidence. Overconfident people will back their opinion and jump into decisions without recognizing the inherent risks in their thinking and actions. Because they have such strong and unquestioning faith in their ability, they may follow one particular approach and not recognize that there could be another alternative that is a better option!

Underconfidence poses its own set of issues in the workplace!

In contrast to overconfident people who are inclined to take action, underconfident people question their thinking in solving problems and dealing with situations. The bottom line is they are less inclined to back their judgment, and they will not be comfortable in roles where they are required to make quick decisions.

Undoubtedly, there are a wide range of positions in the world of work that require a cautious approach to decision making. Those types of roles will be a better fit for underconfident people. But there are also degrees of underconfidence, and the risk is that highly underconfident people may experience “analysis-paralysis” where a decision is delayed as more and more information is sought.

Within a broad range of employment settings, from emergency services, public safety and transport, through to banking and financial markets, identifying people who are likely to show consistent patterns of overconfidence or underconfidence may help avoid costly hiring mistakes.

ebilities MAS tests are unique as they measure both mental agility and confidence, and in the comparison of both  measures allows the identification of people who are prone to either overconfident or underconfident decision making.

Want to know more? Contact us for more information about how you can identify overconfident and underconfident people using ebilities MAS tests.

 

 

clare

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