WATCH: Prediction Errors – Are you able to celebrate Mistakes?

Today I’d like to  talk about learning that you can get from decision-making through Prediction Errors. There’s now a vast amount of research that shows that when we have a prediction error there’s a huge opportunity to learn and develop a Growth Mindset from that. So this model explains how it works. If we have this being time and this being the amount of reward or punishment that we get from a particular decision based on our emotions.

Reward

Where we feel really good because we’ve made a good decision and we get the reward we expect or even better or where we get into punishment where we get actually a punishment from the decision that we make because it didn’t go the way we want and we don’t get the result we want.

Expectation

We always have an expectation from a particular decision and if that expectation is fulfilled as we expect then there is no real learning because there’s no real change in behaviour, there’s no need to change your behaviour just continue what you did last time. And if you get a positive error what actually happens is that you can then say well that’s great we can continue doing that behaviour we got even better than we expected we don’t really need to change anything and the real learning comes and the real Growth Mindset can be developed when we actually get a negative prediction error where it works in a way that we don’t get what we expect. And this often neglected so it’s really important whenever you get so a situation that you don’t get what you expect you need to be able to be aware of all the emotions.

That go with that and then go “what is it that we need to do to change our behaviour?” So many people go “that didn’t work” and then ignore that when in fact there’s a huge learning opportunity here to be able to go “What didn’t work? Why didn’t it work? What can we do to develop a learning from this?” Every Prediction Error, every Negative Prediction Error creates a vast learning opportunity and it’s really important for you and your team to explore the learning that’s in there and that really is about developing a growth mindset.

So if you’d like to know more about this and how to develop a Growth Mindset in the team, do get in touch. We’ve now developed some really powerful exercises and workshops to help you and your team develop a powerful Growth Mindset to improve performance throughout the team, throughout the organisation.

Thank you.

With best regards,

David Klaasen

Talent4Performance help business leaders clarify complexity. We inspire people and drive continuous performance improvement, so they can convert thinking into action and results.

©David Klaasen – 2023