How do you balance risk-taking and accountability?

This is an interesting one. You want your people to take calculated risks but if there are consequences for their actions then a lot of people will not take accountability for the end outcome. You need to promote a culture of learning throughout your organisation. With this, it’s the mindset that there is just learning and outcomes and no failures. Having said that any risks that your people do take need to be well thought through and mitigated against.

Start by establishing and explaining the notion of a calculated risk-taking to level-set the approach. Taking a calculated risk involves carefully weighing the potential benefits against the risks, considering all possible outcomes. The calculated risk isn't a gamble but a strategic decision made with a full understanding of what's at stake, and strategies in place to increase the chances of success.

A step that is too often neglected is asking your TEAM what is possible when defining goals and expectations. The people on the ground are the ones who know how much can be done and how quickly, and when leadership makes decisions in a vacuum, it can erode culture.

While defining clear goals and expectations is crucial, it's equally important to recognize that these may need to evolve in rapidly changing environments. Adaptive leadership involves being flexible with your goals and expectations and allowing them to adapt as new information emerges. By embracing adaptability, you show your team that you value learning from experiences and that sometimes the path to success requires course corrections.

Leadership must lead by example, taking calculated risks themselves and recognizing and rewarding employees for creativity and responsible risk-taking. Leaders also have to set clear boundaries and expectations, so employees understand what constitutes acceptable risk, and they should be held accountable for their decisions without fear of punishment.

Taking risks will always provide learning and perhaps open up new doors or close some of them. In the end, we need to be supported to take risks, be responsible and accountable for the outcome, but also be responsible for sharing the learning and integrating them into a new path forward. As leaders, if we use this support to collectively be better as an organization, then taking risks will be a normal part of our culture and growth. Proudly be accountable and take risks that the organization can learn from. Good luck!

To foster a culture of trust, a crucial consideration is Transparency in Decision-Making... Promote transparency in decision-making processes. When your team understands how decisions are made, they are more likely to take ownership of their actions and outcomes. This transparency can foster a sense of collective responsibility, where everyone feels accountable for the choices made, even if they weren't directly involved in the decision.

Companies embracing uncertainty and ambiguity should recognize these elements as inherent to business, promoting calculated risk-taking that aligns with company values and long-term strategies. This way companies can foster a culture where risk-taking is a part of daily operations, yet is done responsibly and aligned with overall business strategies. It encourages exploration and innovation while ensuring that risks are taken with a full understanding of potential outcomes, and with mechanisms in place to manage and learn from whatever results may come.

I use this system for making decisions that others may perceive as risky. And I teach my team to do the same. Decision Questions: 1) Is this within my current roles & responsibilities? 2) Does it align with our core values? 3) Do we have the skills & confidence to make it happen? 4) Will it drive: Employee NPS, Customer NPS, Profit or Revenue - and if so how. 5) How much will it cost us: Time, People, Money - and what is the ROI of each? 6) Am I willing to take the fall if it doesn't go well? Then Do it.

I use this Post-Decision, Self-Debrief: After a big decision rolls out - I will de-brief with myself... 1) What was the decision? 2) Why did I make the decision at the time? 3) What alternatives did I consider? 4) What Tipped me over the edge? 5) How did I think it would turn out? And how did it turn out? 6) What good and bad things happened that I didn't anticipate? 7) What can I learn from this?

Accountability facilities effective risk taking. If a leader chooses to be accountable they embrace vulnerability and are aware that they need to be honest and transparent about risks and the controls they need or already have. It also allows others to give perspective and support their goals this in itself is risk mitigation

Balancing risk-taking and accountability requires thoughtful consideration, proactive planning, and a willingness to take ownership of outcomes. When done effectively, it allows individuals and organizations to innovate, grow, and learn while staying responsible and committed to their goals.

I recognized early on during my caregiving journey that I cannot avoid making mistakes. If I made one and fixed it, it doesn’t mean I won’t make more mistakes. Every part of this journey is a trial and error. I can’t keep fine-tuning everything I do. It is not sustainable. I picked my battles. I took some risks. I made mistakes, but I also reflected on my mistakes and owned up to them. They were all situations where I have learned the most and I was able to share those learnings with others.

As a leader, it’s absolutely possible to take risks, while also practicing accountability. The key is to have a plan that evaluates the actions because even risks need to be sustainable and organized for results.

Growth stems from risk. While taking risks at the right turns is important, making yourself accountable is equally important. Risk management and mitigation are crucial skills to develop as a leader.

Another interesting and progressive thing to consider is -Celebrate Responsible Risk-Taking To encourage risk-taking while maintaining accountability, consider celebrating responsible risk-taking. Acknowledge and reward team members who take calculated risks, even if the outcome isn't a resounding success. By doing so, you demonstrate that taking chances and pushing boundaries are not just accepted but encouraged within the framework of responsibility.

Mistakes are fixable opportunities. Most of us grew up associating our mistakes with being punished — with our results-focused society, there’s often no room for error — so it’s no wonder that most of us don’t feel exactly proud of them. It’s no surprise that our common coping mechanisms are shrouded in denial and avoidance, in pretending that we haven’t made a mistake. But the thing about pretending that our mistakes don’t exist is that we end up doing those around us — and ourselves — a serious disservice. We create a world of damage when we don’t allow ourselves to be accountable for our mistakes. Time to swap some of this perfectionism for a growth mindset, empathy, and self-compassion.