power skills | problem solving
How to become a better decision maker
Strong leadership doesn’t need to mean one person coming up with the solutions to all the problems a group or organisation faces on his, her or their own.
No man – or person – is an island. And the best problem solvers know that taking on board other people’s view and opinions can be hugely helpful when it comes to overcoming obstacles, both in business and in life in general.
That’s why, when you need to decide how to solve a problem, discussing it with other people – especially anyone who is also affected by the issue concerned – is one of the most important steps.
What is problem solving?
In its purest form, problem solving means finding a way to circumvent or resolve issues that are preventing you achieving a predetermined goal, which could be anything from a blocked road to a lack of funding for a project you are planning.
It’s a skill that can serve you well in all aspects of your life, especially at work; good problem solvers are invaluable to employers and often go on to be leaders in their fields, thanks in part to their ability to work with others to find the solutions that keep everyone happy.
A proven ability to solve problems is therefore one of the “Power Skills” recruiters look for when searching to fill roles both within the finance industry and across the board.
But how can you hone your decision-making and problem-solving skills ready for the world of work? Here’s what we have learned.
The five stages of problem solving
Whether you are facing a problem in your personal life or at work, there are five main stages involved in the process of finding the best solution.
1
Identify the problem
This may sound obvious, but you can’t possibly find a solution if you don’t have a good comprehension of the problem that needs solving. If it’s a problem you need to tackle as part of a team, you also need to ensure everyone shares the same understanding of the problem; otherwise, you are likely to face conflict further down the line.
2
Research the nature of the problem
Some problems have multiple causes, so before coming up with a solution, it’s important to understand what these causes are and consider how any decisions you make will affect them. The right solution needs to resolve all the underlying causes.
3
Take advice /guidance
Ask those involved or close to you for their views on how the problem could be solved, or read up on how other people have solved similar problems in the past.
4
Consider the options
Make a list of the potential solutions and their pros and cons. As mentioned above, sharing this list with other stakeholders will help you to see the bigger picture and could also throw up solutions that have not occurred to you.
5
Make a decision
Implement your plan in a controlled way and be ready to adapt it to changing conditions where necessary.
A problem shared
Here’s an example of how you might use the steps outlined above to solve a problem in the workplace.
The problem: you’ve recently lost some key members of the team, and more are planning to leave. This is an issue due to its impact on morale as well as the productivity and the profitability of the business.
The cause: you know a rival company has been approaching your colleagues, but you need to understand why they are deciding to leave. One way to find out is to conduct exit interviews with those yet to leave to try to find out more about their reasons for moving on.
The advice: it may be too late to prevent the departure of those who have already handed in their notices, but what can you do to keep more people from following their lead? Employee satisfaction surveys and one-on-one catch ups where people can raise any concerns are two ways to find out how best to act.
The options: several individuals requested greater flexibility in their working hours, while others want more training. Is this something you can provide? Again, taking it to the team – perhaps via group workshops – should ensure you find a solution that makes everyone feel heard.
The decision: Based on your colleagues’ responses, you introduce two different shifts to allow people to work the hours that suit them (where possible) and offer access to management training courses for interested parties. The savings made by attracting and retaining top talent offset the cost of these initiatives.
The underlying skills that make a great problem solver
Making consistently good decisions requires a variety of underlying skills, such as:
The creativity to find new approaches to longstanding issues
The analytical skills to dig out the root causes of the problem you’re facing
The ability to work collaboratively and accept that others may have better ideas
The emotional intelligence that allows you to empathise with those affected by your decisions
The conviction to follow through with your plans once a decision has been made
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