In the fast-paced and competitive world of business, it’s easy for CEOs to fall into the trap of thinking they have all the answers. However, according to Bipul Sinha, CEO and co-founder of zero trust data security company Rubrik, embracing collaborative decision-making and encouraging open dialogue within the company can lead to better decision-making and innovation.
Sinha reflects on a time when he believed his company was far ahead of the competition in the cybersecurity market. However, a team member challenged his assumption and urged him to be prepared for increasing competition in the future. Sinha realized that he had been telling himself an untrue story and that his limited knowledge could have significantly impacted the company’s growth. This experience taught him the value of having his team challenge him and give their points of view.
Sinha acknowledges that as a CEO, he wants and values people who support his vision and strategy. He recognizes that not everyone has the knowledge and experience to do his job. However, he also understands that he doesn’t know everything and that fostering a collaborative culture is not only nice but also makes hard-core business sense. Encouraging open dialogue and creating a sense of safety in challenging ideas leads to better decision-making and innovation.
The desire for comfort often holds people back from personal and professional growth. Studies have shown that seeking discomfort leads to increased engagement, motivation, and progress towards goals. In vibrant companies, employees feel comfortable stepping outside their comfort zones and expressing ideas, even if they go against the grain. Sinha wants to hear all points of view about his company’s direction, strategies, products, and resource management because he believes that progress and innovation happen within healthy friction.
Robert Stone, chief people officer at global advertising giant Wunderman Thompson, agrees that an environment where disagreements are encouraged is “100% good for company growth.” When there is an open and honest culture that allows people to speak up, disagreements become an opportunity for growth rather than an issue.
Sinha urges leaders at all levels to adopt the same approach and empower their employees to share their thoughts and ideas. By doing so, leaders can prevent themselves from seeking out the simplest paths and ensure that their companies benefit from diverse perspectives and innovative solutions.
In conclusion, embracing collaborative decision-making and encouraging open dialogue within a company can lead to better decision-making and innovation. CEOs should welcome their team’s challenges and empower employees at all levels to share their points of view. By doing so, leaders can prevent their own limited knowledge from hindering company growth and create an environment where progress and innovation thrive.