The benefits of psychological safety at work
Whether taking risks, trying something new, speaking up and sharing our opinions, or providing feedback, we all want and deserve to feel safe in our workplace.
But sadly, only 42 per cent of managers and 57 per cent of executives actually do feel psychologically safe at work.
With McKinsey & Company sharing that psychological safety starts at the very top of the organisation, it’s important for leaders to understand what psychological safety looks like at work and the benefits that it offers organisations and their people.
To support you, we provide insight into these key points in this blog.
What does psychological safety at work look like?
Research shared by McKinsey & Company highlights that only 26 per cent of leaders currently create psychological safety for their teams. This begs the question “Do leaders know what psychological safety at work looks like?”.
Without understanding what psychological safety is and what it looks like, it can be challenging for leaders to take the steps required to create it.
In a previous blog that shared 5 ways to develop psychological safety at work, we offered insight into what psychological safety at work looks like.
The benefits of psychological safety
When it comes to the benefits of psychological safety in the workplace, it’s clear from the above that organisations that are considered psychologically safe are happier, healthier, more collaborative, and supportive.
CEO Zoé Lewis shares that some benefits of psychological safety include improved team performance, employee satisfaction, better decision-making and problem-solving, and increased innovation and creativity.
Find out more about these below.
1. Improved team performance
Psychological safety fosters an environment where team members feel comfortable sharing ideas, asking questions, and challenging the status quo. This leads to increased collaboration, innovation, and problem-solving, ultimately enhancing team performance and productivity.
2 Enhanced employee engagement and satisfaction
When employees feel psychologically safe in their workplace, they are more likely to feel a sense of ownership and commitment to their work. This leads to higher levels of engagement, motivation, and job satisfaction, resulting in lower turnover rates and higher retention of top talent.
3 Better decision-making and problem-solving
Psychological safety encourages open and honest communication amongst team members, allowing for more effective decision-making and problem-solving processes. When individuals feel free to express their opinions and concerns without fear of judgement or reprisal, it leads to more robust discussions and better outcomes.
4 Increased innovation and creativity
When employees feel safe to share their ideas and opinions without fear of criticism or ridicule, they are more likely to take risks and think outside the box, leading to increased innovation and creativity.
5 Reduced turnover
Organisations with a culture of psychological safety experience lower turnover rates as employees are more likely to feel valued, respected, and supported, leading to increased loyalty and retention.
6 Improved communication and collaboration
Psychological safety encourages open and honest communication, which fosters stronger relationships amongst team members and promotes collaboration across departments and hierarchical levels.
7 Enhanced learning and development
In psychologically safe environments, employees are more willing to admit their mistakes, seek feedback, and engage in continuous learning and development without the fear of being penalised or judged
8 Better performance and productivity
Research has shown that teams with high psychological safety outperform those with low psychological safety in terms of performance and productivity. When employees feel safe to take risks and express themselves authentically, they are more motivated to achieve their goals.
9Healthier work environment
Psychological safety contributes to a healthier work environment by reducing stress, anxiety, and burnout. When employees feel supported and respected, they are less likely to experience negative health outcomes associated with workplace stress.
10Heightened sense of belonging
The ripple effects of psychological safety are profound. As team members feel supported and valued, they become more engaged and committed to the collective goals of the team. This heightened sense of belonging and purpose translates into heightened collaboration and synergy among team members, resulting in enhanced team performance and productivity.
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No matter where people are in the executive journey, at some point, most will partner with an executive coach; a sounding board, confidante, and someone with whom they can be challenged, supported, and held to account.
Each leader has their own journey, their own strengths and challenges; the right match with the ideal executive coach finds them in an extraordinary position to develop themselves to go beyond their previous leadership capabilities.
Here at The Leadership Coaches, our executive coaches have been hand-picked by an exceptionally fussy leader, and our coach matching is done with precision through no-obligation chemistry calls to ensure the match is successful for the leader to have long-term coaching objective success.
We work with leaders in national and international organisations. Whether you are the person seeking coaching in the business or the solution finder for your wider business coaching needs, we are happy to chat more with you about how executive coaching can help you and your business thrive.
Contact us today by calling 03450 950 480 or email info@theleadershipcoaches.co.uk to arrange a no-obligation consultation to discover how we can support you.