Having diverse experiences can often lead to better problem-solving and innovation compared to hyper-specialization. In the book Range, there is a cognitive psychological problem that shows how analogies from different fields can help solve complex issues. Applying this to financial services, David suggests that organizations should leverage the diverse backgrounds of their employees to enhance creativity and problem-solving.
Businesses should conduct skills assessments to identify all experiences within their teams and form cross-functional groups to tackle challenges, help customers, and ignite innovation.
Notes:
🤓 Why people with a wide range of experience can outperform those on specialization.
01:02🤔 Problem by Carl Drucker: cancer patient issue.
01:45😇 Bankers are coming from different fields: gather the database of all experiences within your institution.
05:15🌟 Skills assessment is very useful for creating cross-functional problem-solving teams.
08:02Links:
Episode 59
