September 8, 2021
Failure is not fatal, but failure to change might be ~ John Wooden
Have you ever noticed how some criticism can play havoc with your hearing and scrambles your brain? Words are suddenly hard to decipher and the ego is instantly drawing up offensive plays to counter act the severe disapproval. It becomes almost impossible to achieve a workable solution when one party is on the attack while the other is strategizing a bloody coup d’état.
When mutual communication and respect crumble in the workplace, there are no winners, often irreparable damage occurs. No one likes to be harshly criticized, it can hurt feelings, stifle creativity, stir anger, fuel insecurities, destroy team chemistry, and impede a company’s growth/development. Most people don’t intend to fail at a job, it’s a lousy feeling, but also the perfect coachable scenario using a constructive strategy. Failure in the workplace is often a shared managerial/employee experience with many contributing factors – – ambiguous instructions, insufficient skills, no supervision, unclear goals, all under the umbrella of poor communication. How much time do managers spend wallowing in the reprimand when a resolution should be the first step forward followed by a plan for improvement?
John Wooden, the famous UCLA basketball coach, believed the way to win championships was to set goals, build team culture, instill values, motivate, confront, and communicate. Immediately after practice, Coach would gather feedback from the staff, document exactly what had gone well and not so well and use those notes to improve the next practice. Wooden coached his players by focusing on the negatives in a manner that was instructive for improvement and future success.
Bill Gates expounds that everyone needs a coach, and that ongoing feedback is the vehicle to a brighter future. RIBBIT.ai prompts managers that it’s their responsibility to clearly outline work and behavioral expectations with goals, required skills, timelines, and frequent feedback sessions. Fear of reprisal in companies is a huge obstacle that will impede open and honest communication. Employees need to feel encouraged and empowered to talk about what’s working and not working with their assignments. The result should be a more efficient, productive, and improved workforce which will fuel loyalty and power the bottom line.
RIBBIT.ai’s knowledgeable employee team uses ongoing, constructive communication as the source for improvement and the fuel for launching its groundbreaking financial products; empowering lenders with smarter, faster financial decisioning. Shawn Princell, CEO of RIBBIT.ai says “we won’t settle for being a good company, we are focused on creating a great company.”
Be curious always! For knowledge will not acquire you; you must acquire it ~ anonymous
Come on, don’t judge me based on a few of my personal traits, it’s just not fair, rather look at the whole me, then decide if I am worthy. And if you are evaluating my credit worthiness, impacting the rest of my life, the analysis better be meticulous, expansive, insightful, and timely.
A little knowledge that acts is worth infinitely more than much knowledge that is idle – Kahlil Gibran
Open banking just got a giant goose from the President of the United States. In an executive order, President Biden strongly suggested that the Consumer Financial Protection Bureau (CFPB) endorses guidelines forcing banks to loosen their grip on consumers’ bank data. Time for banks to “give it up” to the actual account owners so they can download their banking information and share it with other banks and 3rd party service providers. Wow, this is big!
The universe is always sending us gifts, all we have to do is open them. ~ Di Princell
Artificial Intelligence (AI) may well be the supportive superhero for credit decisioning in the current decade: slaying machine-learning systems, disrupting financial services, fighting against biased algorithms, demanding more accurate predictions, and destroying the way credit risk is measured. Combining AI with financial data creates knowledge out of confusion and sees into the future: changing status quo, paving the way for innovation in the financial arena, and tearing down closed doors to credit.