2min chapter

The Leader Factor cover image

Violations of Psychological Safety and Their Costs

The Leader Factor

CHAPTER

The Cost of Failure to Innovate

A study by the corporate executive board found that companies with a strong culture of psychological safety are 4.5 times more likely to be innovative than companies with weak culture. When employees feel safe to take risks, when they share their ideas, they're more likely to come up with new and innovative solutions. Some teams that don't take risks or push boundaries will never innovate at rates fast enough to stay relevant.

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