Learning how to make good decisions benefits your company’s profits, other people’s jobs, and your own temperament. If you don’t have good business judgment and experience with the decision-making process, you may for instance cram in more meetings that go nowhere and frustrate everyone. In an article for Forbes, Erik Larson offers six simple metrics to help improve decision-making processes:
- Number of people participating in the decision: best with 3-7
- Number of alternatives considered: best with 4 or more
- Number of goals aligned with decisions: best with 5 or more
- How decisions are communicated: thorough and descriptive
- How much people are bought into decisions: buy-in ratings of 7-10 on a 1-10 scale
- The results versus expectations: at least 70% of expectations are met or exceeded
Make it Happen
In a democratic workplace, you cannot expect to have totalitarian power and do things by yourself. When you make a decision that affects many others, at least some of them should have a say in the process. However, you don’t want to involve everyone in it, either, as too big a crowd may sink the ship. Five to six representatives of voices in the company are good enough to handle opinions and come to a final decision. Have alternatives as well so you don’t have to completely rely on what is available.
In making decisions, it is crucial to communicate both verbally and nonverbally to everyone. Be detailed with regard to why your brainstormed decision will work, what business goals it will fulfill, and how beneficial it is to the company. A good decision should meet at least over half of the desired expectations and is able to buy people into it.
Larson writes about the benefits of keeping track of the metrics:
Managers make 40 to 50 significant business decisions each year, so you have plenty of chances to measure your decision making, learn, and make it better in 2017. Our research shows that best practices improve overall manager performance by 20%.
It turns out if you measure and improve a fundamental activity like decision making not only does the process itself get better, but your entire work life improves.
Over time, scrutinizing mechanically how you make your decisions should ultimately give way to an easier, more natural decision-making process in general. You can view original article here: http://www.forbes.com/sites/eriklarson/2017/01/17/use-these-six-simple-decision-making-metrics-to-kill-meetings-and-emails-in-2017/