As discussed in our previous blog on Self-Sabotage, many people experience unforeseen obstacles and challenges in their career that can hinder their progress, but when the hinderance is self-inflicted, whether consciously or unconsciously, it can create barriers to progression which can be much harder to overcome.

As part of a series on the subject of personal struggles, in this blog we have taken a look at risk aversion and how it can affect working life, including how to recognise the symptoms and strategies to help overcome it.

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What is risk aversion

Risk aversion is all about avoiding situations or decisions where the outcome is uncertain. For the majority of people, it is natural to look for the easiest route to achieve something, to avoid danger and to be mildly resistant to change, but for those suffering with risk aversion, it can be an almost debilitating feeling of extreme discomfort when faced with a decision-making situation which does not have a definite or familiar outcome. Avoiding any situation which comes with an element of risk can hold you back in life and in particular in your career as sufferers are reluctant to put themselves forward for new projects, less likely to change jobs or companies even when it would benefit their career development or accept promotion or upskilling opportunities.

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Recognising the symptoms

Noticeable behaviours which arise from risk aversion include:

• Resistance to positive change and a tendency to always opt for an option which provides a familiar or certain outcome regardless of whether it is the best choice,

• Overthinking simple situations, and applying an overexaggerated, pessimistic assessment of the likely outcomes of taking action.

• Some people also display micromanagement behaviours to give them a feeling of being able to retain control of risk and unexpected occurrences.

• Severe risk aversion can also render the individual unable to think clearly, make any sort of decision about a situation or act on it.

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Overcoming risk aversion

As with any negative personal behaviour, the first step is to recognise that you are experiencing it. Self-awareness will allow you to realise that your behaviour may not be entirely rational and that you may need to reevaluate your decision-making process.

It can be helpful to confront the fact that inaction is also a decision which carries risk and that ‘not doing something’ could be just as likely to create a negative outcome as doing it.

A key strategy to overcome risk aversion can be to realise that you are only looking at the ‘cons’ of any given choice. Reminding yourself to review the ‘pros’ too will provide a much more balanced view of what could happen, including the benefits of a positive result, which could by far outweigh the problems caused by a negative one. If necessary, make a physical list which you can refer back to should you begin to feel uncomfortable with your decision further down the line.

Finally, take into account how you are measuring the success or failure of your decision. It is not always just about the end goal. Positive outcomes can also include measuring what you are learning along the way, the progress which is being made on a piece of work or the small victories of a successful meeting or presentation as part of a larger project.

Look out for further blogs on the subject of overcoming personal battles soon or read part 1 of our series here.

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If you think that you are not reaching your full potential and want to review your career choices and development, get in touch today and find out how our expert career coaches can help you.

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