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Age Risk Tolerance vpp16

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Looking back at your younger self, did you ever do anything that you would now consider dangerous or foolish? The data are clear. Adolescents and young adults (ages 15 to 24) are more likely to engage in risky behaviors than are adults and workplace incidents are more frequent among this age group. This presentation examines the recent Human Factors research that helps us understand why younger workers are less risk averse than their older counterparts and then examines an approach that capitalizes on the strengths of both older and younger workers that can help minimize risk taking in the workplace.

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Age Risk Tolerance vpp16

  1. 1. Risk Tolerance & Age Bridging the Gap Ron D. Ragain, Ph.D.
  2. 2. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Did you do something when you were younger that, looking back on it, was WAY too risky? Risk Taking
  3. 3. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Risk Taking “Local Rationality” What people do makes sense, given what is most obvious, pressing and significant to them in the moment.
  4. 4. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Between the ages of 15 and 24, this is more likely to lead to risky behavior. Why? Risk Taking
  5. 5. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Why? ‣Less Experience ‣Poor Decision-Making ‣Risk Tolerance ‣Cognitive Development Risk Taking
  6. 6. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Younger Workers Logical Reasoning & Cortical Development ‣Cortical development continues into mid-20s. ‣Logical reasoning abilities at 15 years-old is equivalent to adults. ‣Speed of information- processing is at its peak.
  7. 7. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Younger Workers Socio-emotional Reasoning & The Limbic System ‣Psychosocial factors have much greater impact. ‣Peer Pressure ‣Desire for Recognition ‣Rewards and pleasure are more attractive. ‣“Dopamine Rush”
  8. 8. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Aging has little effect on intelligence, but it affects other aspects of cognition. Older Workers
  9. 9. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Older Workers The Aging Brain (55+) ‣Slower to shift attention to new stimuli. ‣Slower to recall un-cued information. ‣Working memory (short term memory) functions less efficiently.
  10. 10. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. When a task is complex, fast-paced and requires manipulation of information, there may be age-related decline… especially while under pressure. Older Workers
  11. 11. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Younger Workers An Advantage ‣Speed of information processing is at its peak.
  12. 12. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Older Workers An Advantage ‣Experience & Contextual Cues
  13. 13. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Moving Forward Now What? How do we use this information to make the workplace safer while increasing productivity? ?
  14. 14. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Moving Forward Reciprocal Mentoring Increasing the interaction between older and younger employees to counteract disadvantages and increase advantages
  15. 15. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Moving Forward Reciprocal Mentoring ‣Younger workers bring creativity, rapid problem solving, physical strength and a fresh view of the work context.
  16. 16. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Moving Forward Reciprocal Mentoring ‣Older workers bring knowledge of contextual cues and experience, and balance younger workers’ socioemotional immaturity.
  17. 17. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Stereotypes What are some of the common stereotypes about each age group, which undermine the potential of collaboration and reciprocal mentoring? A Barrier to Overcome
  18. 18. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. A Barrier to Overcome Expectations Selective PerceptionSelective Feedback & Response Impact on the Actions of Other(s) Self-Fulfilling Prophecy Frame of Reference ‣ Stereotypes ‣ Beliefs ‣ Experiences ‣ etc.
  19. 19. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Bridging the Gap ‣Determine what age-related stereotypes and skill sets exist within your culture. ‣Implement a “Culture Shift” process. ‣Train employees in the “Reciprocal Mentoring” process. ‣Implement an evaluation process to determine the effectiveness of the program. Bridging the Gap
  20. 20. © 2016, The RAD Group, LLC. All Rights Reserved. Unauthorized reproduction or distribution, in part or in whole, is forbidden unless permitted in writing by The RAD Group, LLC. Questions? Bridging the Gap
  21. 21. Resources for You theradgroup.com/vpp-16 Access Slides Ask Questions Michael Allen 17th @ 11:30 18th @ 2:45 Mike Allen 17th @ 1:45 & 3:00 18th @ 10:00 & 1:15 Ron Ragain 17th @ 11:30 & 1:45 Phillip Ragain 18th @ 1:15 & 2:45
  22. 22. Risk Tolerance & Age Bridging the Gap Ron D. Ragain, Ph.D.

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