A new report from People + Science on boardroom psychological safety and performance highlights that only 4 out of 10 board members feel psychologically safe and only 3 out of 10 feel high levels of trust for their fellow decision-makers. Psychological safety has been found to be highly correlated to quality boardroom decision-making, as such psychological safety is necessary for board effectiveness. To download the full report, head to https://www.6peas.com.au/product/people-science-psychological-safety-benchmark-2020-2021-aust/
As frustrating as it may be, our politics
is seeing a better-quality contest of ideas:
“The most reliable cure for
confirmation bias is interaction with people who don’t share your beliefs. They
confront you with counterevidence and counterargument. John Stuart Mill said,
“He who knows only his own side of the case, knows little of that,” and he
urged us to seek out conflicting views “from persons who actually believe
them.” People who think differently and are willing to speak up if they
disagree with you make you smarter, almost as if they are extensions of your
own brain.”
Stephen Walters, NSW Chief Economist, gave an excellent presentation at EY for the Sydney Financial Forum about the Australian economy and its prospects. Due to strong headwinds affecting energy prices, as well as inflation related to events in the Ukraine and China, he stressed the need for reform to improve productivity. Areas he considered need major reforms are:Tax incentivesEarly learningEmployment of WomenInternational migrationVocational educationEnergy - in ST ensure available supply meets demand. LT make transition to net zeroMake it easier for people to enter the housing marketConnect universities with ideas to possibilities for commercialisationBring more retired people back into the workforce
Lynn Wood
Glenn Barnes