How to banish confirmation bias from your business

While we all like to think we’re open-minded, keen for fresh ideas and have a mindset for success, the truth may well be a little different. Beware confirmation bias.

We all know that if you search long enough online you’ll find something to validate your opinion. Looking for positivity about that new ute you’re thinking of buying? You’ll find it. Looking for a reason not to buy that new ute you’re thinking of buying? You’ll find that too.

For, deep down, knowing we were right all along has a certain appeal; as Warren Buffett said, “What humans are best at is interpreting all new information so that their prior conclusions remain intact.”

What we have here folks is good old confirmation bias – which, in layman’s terms – means seeking out, or interpreting, information, opinions or data to validate your original thoughts.

Yep, boss – right all along. Again.

The need for a differing voice. Or two. No confirmation bias here!

In the not-so-distant past, it didn’t pay to voice another opinion at work. If you disagreed with your boss – or even a more experienced member of the team – you’d be branded a troublemaker. And no one wanted that.

Today, it’s different – well, most of the time, anyway.

Of course, this all falls into the diversity category—diversity of thought is one of the biggest direct business benefits a diverse staff can bring to a company—and the stats back it up, too.

According to the Diversity Council of Australia, diverse and inclusive teams are five times more likely to be innovative than non-inclusive teams, five times more likely to work effectively together, and four more times likely to provide excellent customer service.

Having those diverse perspectives to contribute to everything from culture to business opportunities is important right throughout the business work – for example companies in the top quartile for board gender diversity are 27% more likely to financially outperform companies in the bottom quartile.

Of course, there’s an inherent danger of confirmation bias here, too – however, while some of the huge range of studies into the benefits of diversity and inclusion have been flagged for flawed methods of discovery, or for overemphasising the impact diversity and inclusion can have, it’s widely accepted that diversity of experiences and thought has a positive effect on business outcomes.

However, diversity in this respect is a broad church, encompassing different perspectives, abilities, knowledge, attitudes and information styles – as well as demographic characteristics.

Feel free to speak – and don’t be scared by confirmation bias

And look, that’s all well and good in theory. But in practice, it doesn’t matter how diverse your team is if you don’t create the right environment for them to give their honest takes.

It’ll create a productive, enjoyable environment to work in – and helps build buy-in and accountability.

And you might just stumble on some great new ideas. Or have confirmation that what you’re actually doing is more certainly the right way to go about it.

And, at least when people say, ‘Great Idea boss!’, they’ll actually mean it.

Confirmation bias in our everyday

Want a good example of confirmation bias? Take a deep look at the social media content you’re served. Social media algorithms are increasingly delivering information and posts that confirm the thoughts and opinions it believes you have, based on your social media interactions, likes and comments.

And if you want to go down a real rabbit hole, check out how social media influences elections – particularly the US election. ‘Influencers’ – allegedly paid by countries with vested interests – serve up content that confirms views and deeply polarises, with the intention of influencing how the vote goes.

So next time you see something being served up to you online, stop and think about exactly why that post is reaching you, right now.