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Forbes
7 days ago
- General
- Forbes
Getting To The Heart Of Psychological Safety Through Character
Psychological safety emanates from interactions which reflect character I have been a fan of Amy Edmondson's pioneering work on psychological safety since we met as young scholars at an organizational learning conference decades ago. While my interests lay in the relationship between organizational learning and strategic renewal, she was tapping into a core underpinning of organizational learning: whether individuals and teams could engage in open and candid dialogue, feel safe speaking up, taking risks, and making mistakes. The benefits of psychological safety have been well-documented, as revealed by Project Aristotle, which found a correlation with a 43% increase in team performance, including a 19% increase in productivity, 31% more innovation, 27% lower employee turnover, and 3.6 times more engagement. Although the benefits of psychological safety are well-documented, the factors that contribute to it have been more elusive. Forbes Council Member Jeff Williams provides six practical steps to creating a psychologically safe environment, which echo many common prescriptions, including diagnosing where you stand, reviewing your policies and protocols, modeling psychologically safe behaviors, creating an organization-wide safety culture, discussing it, and holding check-ins. Although these are practical insights, there is a need to get to the heart of psychological safety, to explore why it has been so challenging for many organizations. Research at the Ivey Business School has revealed that the difference between weak and strong leader character is correlated with a 16% increase in psychological safety and an 18% increase in employee voice. Leader character may well be the bedrock for psychological safety. There are three key steps to unlock the potential character brings to enable psychological safety. Step 1 – Understand How Character Impacts Psychological Safety What has been overlooked in psychological safety is how character influences it. Because people have not understood what character is and how it can manifest in deficient and excess states, we have neglected a key aspect of both the diagnosis and the remedy. The 11 dimensions of character can manifest in deficient and excess states as shown in Table 1. Since people tend to judge their behaviors based on intention, while others judge them on their observable behaviors, they often fail to recognize that their character strengths are manifesting as excess vices, as shown in the right-hand column. Tasha Eurich's findings highlight the challenges associated with self-awareness, revealing that 95% of people believe they are self-aware, yet only 10-15% are. Table 1 - Virtues and Vices In our character workshops, we ask participants to describe leaders who exhibit strong integrity and drive but low humility and humanity. Words like bully, arrogant, tyrant, and jerk often top the list. By examining the excess vice states of drive and integrity in Table 1, you can see why. When someone has high drive and integrity that are not balanced by other character dimensions, these strengths can become dictatorial, forceful, uncompromising, belligerent, rigid, and dogmatic, among others. Because people often lack self-awareness and don't intend to behave in this way, such behavior becomes a significant blind spot for them. Let's connect the dots to psychological safety. When we ask people to describe what it feels like to work for or with someone who has these character imbalances, the responses are consistent, and, unfortunately, many have experienced it. Weaknesses such as humility and humanity, as shown in the left column of Table 1, offer clues. These deficient traits of humanity and humility are reflected in words like uncaring, vindictive, aloof, disinterested, and disrespectful. Combined with the excess vices of high drive and integrity, the person becomes challenging to work with and for. Returning to the core aspects of psychological safety, there is little chance of having open and honest dialogue, feeling safe to speak up, take risks, and make mistakes. In fact, research at the Ivey Business School shows an 18% gap between individuals with weak and strong character in terms of employee voice, indicating that people are less likely to engage when character is weak. Although Table 1 presents the character dimensions in list form, the behaviors in the middle column should be visualized as a wheel with the judgment dimension at the center. This is because judgment, what Aristotle called 'practical wisdom,' has its own set of behaviors and also plays a special role in regulating all character behaviors. We call this character-based judgment. There is no doubt that the words in the left and right-hand columns are strong. They are meant to leave no doubt that the deficient and excess states are problematic and undesirable. Because people often struggle to see themselves as anything other than their good intentions portrayed in the middle column, we ask them to imagine whether their typical lean is to the left or the right. For example, I am a very purposeful person (behavior associated with transcendence). It would be rare for me to be directionless, so my miss is not on the left side. It suggests my miss is to the right - being fixated. Although I would never describe myself as being fixated, my character development has helped me see that if others do not observe strengths in other dimensions, such as collaboration (being open-minded and flexible) and temperance (being patient and calm), they will view my purposive behavior in a more fixated way. Importantly, for me to have confidence in my character-based judgment, I need to ensure that I am strengthening my weaker character behaviors. This leads to the need for character development. Character imbalances not only influence individual and collective judgment but also impact individual well-being, often in distinct ways. For example, someone with high drive and low temperance may experience burnout arising from a relentless pursuit of perfection. In contrast, someone with high collaboration and low integrity may find that they continue to prioritize the needs of others over their own. Overall, there is reason to develop character beyond enhancing psychological safety. Research at the Ivey Business School reveals that the difference between weak and strong character is associated with an 8% difference in well-being, a 10% difference in resilience and job satisfaction, and a 14% difference in leader effectiveness. Step 2 – Develop Character To Increase Psychological Safety Unlike personality, which is considered semi-stable with no associated development paradigm, character behaviors are habits that can be developed but can also erode. Without a clear understanding of what character is and how it manifests in deficient and excessive states, it is understandable that most people will have weaknesses and imbalances. When it comes to psychological safety, it is not simply a matter of assessing whether an environment is psychologically safe, but diagnosing imbalances in individual character that contribute to it. In 'Towards a Model of Leader Character Development: Insights From Anatomy and Music Therapy,' co-authored with Corey Crossan and Cassie Ellis, we describe five levels of leader character development, with Level 1 being the ability to discover and assess one's character and that of others. Assessments such as the self and 360-degree Leader Character Insight Assessment and the VIA Character Strengths Survey are helpful tools. In Level 2, we describe how character can be activated through priming, reminding, and reinforcement, using music as an example. We have created a Spotify playlist featuring songs for each of the 11 dimensions, as suggested by workshop participants. There are other practical reminders, such as images and poems, and many creative ways people have found, including how Corey Crossan paints her nails in the corresponding colour of the character dimension in Table 1 that she is exercising. The value of understanding how to activate a dimension of character is to consider what it may take at any moment to speak up when it doesn't feel psychologically safe. For example, a leader may need to activate their humanity, humility, and collaboration to encourage others that it is safe to speak up. I learned this lesson when a colleague told me I was intimidating, after a meeting in which I had not even spoken. Because I saw myself as collegial and cooperative, it turns out that I lacked the self-awareness to realize that someone might view me as intimidating. Having witnessed the nodding heads of many executives when I share this story, it revealed to me how, with some awareness and capacity to activate character, we can shift these moments. I realized I not only need to activate collaboration, humanity, and humility, but I also need to strengthen them. The most challenging work arises in Level 3, where daily practice is required to strengthen a behavior. With 11 character dimensions and 62 associated behaviors, a daily practice is incredibly challenging. I realized my daily yoga practice was an essential way for me to exercise becoming more patient and calm (behaviors associated with the temperance dimension). Strengthening my temperance has been another dimension that helps to ensure my other strengths in transcendence, drive, courage, and judgment do not manifest as excess vices and undermine psychological safety. For example, my passionate behavior (transcendence) and decisiveness (judgment), when not supported by strong temperance, can silence others. Where I see my decisiveness as the beginning of the conversation, others can experience it as the end of the conversation. One of the reasons Corey Crossan and I created the Virtuosity character development mobile app was to curate a set of daily exercises for the 62 behaviors that comprise the Virtuosity character development system. Level 4 is a natural extension of Level 3 because it considers how the development of a behavior depends on and influences the character behaviors of others. In my own experience, once I discovered how my patience and calm depended on strengthening other dimensions of character, such as humanity, humility, collaboration, and transcendence, I began to put less pressure on my temperance. Essentially, I became less agitated and frustrated with others and began to see different possibilities. One of the reasons that people question character is that most of us don't imagine that character development needs to hold up under every context, which is Level 5. Our strength of character needs to be reliable in both crisis and calm, personally and professionally. There is plenty of research in sociology pointing to how context shapes action, such as the famous Stanford Prison Experiment, where students who had been randomly assigned to roles as guards began to abuse those in the role of prisoners within only five days. However, context need not be that dramatic to influence character. Consider how many people blame compensation and reward systems in organizations for their behavior. In character workshops, the proverbial light bulb goes on when they consider what that reveals about character. Connecting the development of character to psychological safety, it is not simply that individuals can strengthen their character to reap the benefits associated with the quality of conversation that enables candid dialogue and risk-taking, but character development also demands that individuals begin to transform the context within which they operate, which may undermine psychological safety. Step 3 - Rely on Character to Cultivate a Psychologically Safe Context In 'Making Leader Character Your Competitive Edge,' published in MIT Sloan, Bill Furlong, Rob Austin, and I describe that character is embedded in the architecture of the organization. This means that creating the conditions for psychological safety isn't just about interactions between people, but also the context that either enables or hinders it. Reflecting on Level 5 of character development, context can often undermine character. However, too often, the blame for the lack of psychological safety is placed on the context, such as what gets rewarded or punished in organizations. For example, reward systems often overweight drive and underweight temperance, with a focus on results at any cost. And because people are often selected and promoted based on this likeness, a vicious cycle emerges where the context undermines character and character undermines context – people cut corners. Few will speak up to question decisions. It is not simply about whether there is psychological safety to do so, but whether they possess the strength in integrity, justice, and accountability to speak up. The anatomy of failure in every organization, whether it be Enron, Wells Fargo, Volkswagen, or Boeing, is a system that embodies imbalances of character as I described in my Forbes article 'Lessons From Boeing on Elevating Character Alongside Competence.' When individuals and systems exhibit character imbalances, the organizational culture often reflects those imbalances. In my Forbes article, 'Seeing How Character Eats Culture For Breakfast,' I make the point that culture will reflect the character of its members. Furthermore, leaders with strong character will ensure that the organization's systems and processes reflect strong character. Psychological safety is vital, but it can be challenging to achieve. Many troublesome issues that weaken psychological safety stem from character imbalances. The good news is that the solution is straightforward. Character is the key missing element. Since character can be assessed, developed, and embedded in organizations, it can be measured and managed. Addressing psychological safety truly depends on character development, particularly in leaders who set the tone and shape the organizational culture.
Global News
04-07-2025
- Business
- Global News
What is liquefied natural gas? A closer look at Canada's milestone shipment
This week, Canada marked a milestone as the first tanker set out from northern B.C. carrying liquefied natural gas bound for markets in Asia. Industry members billed the export as a 'truly historic moment' in comments to Reuters. And while Canada is rich in natural resources, including those like natural gases, which can be used for producing electricity, there are still differing views about the long-term benefits for the economy. Natural gas is currently produced and distributed within Canada and to the United States mainly via pipelines, but new technology means it can also be processed into a liquefied form, which makes it possible to ship it to other parts of the world. Although LNG Canada highlights the benefits for economic and job growth in Canada, others warn that the industry's current trajectory may not be the best way forward if the government is set on meeting its own emissions goals. Story continues below advertisement At the same time, Canada is in the midst of work to broaden its trading to make the country less reliant on the United States amid U.S. President Donald Trump's trade war. 'Canada is the fifth largest producer and the fourth largest exporter of natural gases in the world,' says Adam Fremeth, professor of energy policy at the Ivey Business School. 'The only customer from our exports has historically been the U.S.' So what is liquefied natural gas, and what does this signal about the industry in Canada? What is LNG? Liquefied natural gas (LNG) is the result of processing natural gas from pipelines into a form that is easier to store and export via cargo ship. The technology to make LNG in Canada has been in the works for the better part of a decade, and aims to help expand exports to other markets beyond the U.S. Story continues below advertisement The main processing facility is located in Kitimat, B.C., which is set to expand its capacity in the coming years with investments from the federal government as well as international stakeholders. 1:03 First LNG tanker arrives in Kitimat, B.C. On Monday, LNG Canada said its first cargo ship stocked with liquefied natural gas left B.C. and is due to arrive in Asia by the end of the week, with more ships expected to set sail soon. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy According to Natural Resources Canada, which cites the Conference Board of Canada, exporting 30 million tonnes of LNG per year would generate $6 billion in revenue for the federal and provincial governments. 'What I see here with these LNG projects are actually opportunities to have net new growth for our economy. Some estimates put this one LNG project as increasing Canadian gross domestic product by just under half a per cent. That's significant. This is material gains to our economy,' Fremeth says. Story continues below advertisement How does this fit in with the trade war? Canada's economy is facing mounting pressure for Ottawa to diversify trading partners amid the trade war. But this LNG project dates back long before talk of tariffs. 'The pipeline that had to get placed took years of negotiation and consultation with Indigenous groups to be finalized, and this one project was $40 billion in the ground,' Fremeth says. 'While this is the first time we're actually exporting (LNG) product, it's just a coincidence that it happens to be at the time that we face new trade pressures with the main trading partner that we have to the south.' Prime Minister Mark Carney is working towards a new trade deal with Trump, with an eye to finalizing that by July 21. It's not yet clear what could be in that deal but Carney has said it focuses on trade and security, and vows to diversify Canada's trading partners to make the economy less reliant on the U.S. Story continues below advertisement 'I'd see no reasons that we wouldn't be continuing to sell natural gas to the U.S., as companies like Enbridge and TC Energy have investments in pipeline systems that are very well integrated into the U.S., and so I don't see that going anywhere,' Fremeth says. 11:59 Canada could become Asia's largest supplier of liquid natural gas: energy CEO Why is the focus on LNG now? Pressure on Canada to speed up LNG projects also began before the current trade war, after Russia invaded Ukraine. Story continues below advertisement At the time, sanctions on Russian exports, including those of energy like natural gas, meant some European countries were looking at whether Canada could help fill the gaps. With LNG projects at the time in the early stages, it may have been a lost opportunity for Canada. 'About three years ago, soon after the Russian invasion of Ukraine, the German chancellor had come over for meetings with Justin Trudeau, the prime minister at the time. Some of the conversation had to do about getting energy products to western and eastern Europe, and we didn't have an answer for the Germans,' Fremeth says. 'Right now, there's sustained effort to get projects built and I think that could help. There's premium that comes from LNG and being able to sell our product to broader markets around the world.' Trudeau said at the time that Canada would need a 'strong business case' to get LNG shipments to Europe, given the distance. 2:54 Trudeau says strong 'business case' needed to increase LNG exports to Germany Further expansion of Canada's natural gas production and export capabilities, including for LNG, could mean more business opportunities with Asian and European markets. Story continues below advertisement However, there may be more hesitancy and skepticism about the long-term outlook for the industry that could mean delays for some of these projects. As of now, the Carney government is still moving forward with Canada's goal to reach net-zero emissions targets by 2050. 'The Paris Agreement goals that we have set for ourselves limit to a great extent our ability to produce natural gas, given that it's still a fossil fuel that needs to be phased out, ultimately, same as coal and oil. A great increase in production and export of LNG would be incompatible with these goals,' says economist and senior advisor Renaud Gignac at Investors for Paris Compliance. Gignac, though, cautions that in the longer term, development of other natural resources like Canada's critical minerals will likely be a more strategic investment as global demand soars. 'From a long-term perspective, LNG investments are not the best that we can make with our limited resources. The outlook is more favourable in other sectors like critical minerals that will respond to a need in a transitioning economy,' Gignac says. 'We have to remember that even if Trump is in power, the transition to lower-emission sources of energy is not going away. So that's why the economic outlook for fossil fuels is not favourable.'
Calgary Herald
01-07-2025
- Business
- Calgary Herald
David Parker: Around Town with Moby
Article content Since this column announced its launch as a customer-happy internet provider, Moby has experienced significant growth. It was launched by technician Nick Brewer who had left a major provider and wondered if it was possible to create a local, independent company that provided not only a superior fibre-optic network, but also on-the-spot customer service. Article content Article content Brewer founded Moby and later enlisted CEO and co-owner Boaz Shilmover, who brought on vice president of business development Stewart Cummings and COO Tobe Nzewi as partners. Shilmover, a graduate of the Ivey Business School at the University of Western Ontario, had worked in oil and gas and the construction industry. He introduced to Brewer at a Calgary coffee shop and says he quickly saw the need and potential for growth of Moby. Article content Article content He immersed himself into the world of internet, TV and VoIP phone service and the promotion of a local company benefitting by being able to lay its own extensive fibre-optic throughout the downtown, where it houses its data centre along 7th Avenue S.W. Article content Since then, Moby has continued to expand its footprint in both Calgary and Edmonton, with particular growth in the hotel and hospitality sector. Reliable high-speed internet and TV service are important and often overlooked guest amenities. Moby is now servicing multiple hotels across the country and is a Best Western and Choice Hotel-endorsed supplier. Article content Article content Canadian Rocky Mountain Resorts (CRMR) is a recent client win. Moby has completed an overhaul of the TV service of The Post Hotel in Lake Louise, which had been relying on poor satellite TV due to its remote location. Moby worked with the CRMR's Calgary office and was hired to bring TV and streaming services to the hotel's smart TV. It offered a customized service that Moby customers appreciate, delivering a product 'as smooth as at home' with a clear picture. Article content Other Calgary companies that have made the switch to Moby include Calgary Co-op, Neo Financial, OK Tire, Sproule Energy, Garmin and the Calgary Petroleum Club. Article content In addition to serving business customers, Moby continues to service high-density residential apartments and condos. A good example of the company's commitment to going the extra mile is the way it was able to please residents of an apartment block with a large number of Filipino renters. Moby was able to add specific Filipino channels to better serve the community, and it is responding to another building in which many of the residents are looking for Italian language channels.
Biz Bahrain
26-06-2025
- Business
- Biz Bahrain
CIBAFI Launches GIBS 2025 Report on AI and Data Analytics and the Digital Momentum Guide
The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, successfully held today a webinar titled 'AI and Data Analytics: Revolutionizing Islamic Banking Operations and Services,' marking the soft launch of the tenth edition of the Global Islamic Bankers' Survey (GIBS) 2025 Report. This edition of the GIBS Report explores the expanding role of artificial intelligence (AI) and data analytics in transforming Islamic banking operations, service delivery, and risk management. It captures insights from 105 executives across 29 countries, providing valuable regional perspectives and industry benchmarks. The webinar opened with remarks from Dr. Abdelilah Belatik, Secretary General of CIBAFI, who stated: 'Marking the 10th anniversary of the GIBS initiative, this year's findings reflect an industry on the brink of a technological shift. While AI adoption is still early, its strategic value is increasingly recognized. CIBAFI's role is to support this transition through dialogue, research, and capacity building. We hope this milestone report will guide Islamic financial institutions in shaping effective, forward-looking AI strategies.' Following Dr. Belatik's remarks, Ms. Jenni Denniston, Director of Business Development at Ivey Business School, announced the upcoming Joint Executive Programme with CIBAFI, aimed at equipping executive managers with strategic leadership skills in AI and digital transformation within Islamic banking. Dr. Muhammad Bilal, Project Manager – Research & Regulatory Affairs, shared insights from the GIBS, such as the growing strategic importance of AI in Islamic banking. He noted that adoption remains limited due to high costs, lack of expertise, and concerns over cybersecurity and credit risks. The webinar also featured expert insights from distinguished speakers, including Mr. Peter Casey, Consultant; Dr. Ahmed Tahiri Jouti, Founder of NeuronAIze and Managing Partner at Green For South; and Mr. Yasser Rahrovani, Associate Professor, Information Systems, Ivey Business School, who shared practical perspectives on the evolving digital landscape in Islamic finance. The session was moderated by Mr. Rachid Ettaai, Business Development Manager, CIBAFI. CIBAFI extends its sincere appreciation to its Supporting Partner, DDCAP Group, for their valuable contribution to the successful launch of the GIBS 2025 Report and continued support in promoting innovation in the Islamic financial services industry. In conjunction with the webinar, CIBAFI also launched the Digital Momentum Guide: Impact on Islamic Banks and Guidelines for Adaptability, which offers practical insights and strategies for Islamic banks to remain agile, innovative, and Shariah-compliant in an evolving digital landscape. To download Digital Momentum: Impact on Islamic Banks and Guidelines for Adaptability, click here.
Yahoo
26-06-2025
- Business
- Yahoo
Montreal asking rents up nearly 71% since 2019, says StatsCan
The average asking price of rent in Montreal has shot up nearly 71 per cent since 2019, according to a rent report released by Statistics Canada on Wednesday. Between 2019 and the first quarter of 2025, asking rent for a two-bedroom apartment in the country's second-largest city has grown from $1,130 to $1,930, the data agency said in its first-ever quarterly rent statistics report. Elsewhere in Quebec, the cities of Drummondville and Sherbrooke — which had the lowest average asking rents at the start of this year — saw the biggest uptick in average asking rents for two-bedroom apartments since the first quarter of 2019. The report draws from asking rents to illustrate the latest market trends, because "prospective renters typically face higher rents compared with long-term tenants" whose rents reflect past leases, the report said. Some Canadian cities with large renter populations, including Montreal, "have experienced very, very high rent growth" in just a few years, said Mike Moffatt, an assistant professor of business, economics and public policy at Western University's Ivey Business School. Some of those rates are now coming down year-over-year: in Montreal, for example, asking rent for a two-bedroom declined slightly between the first quarter of 2024 and the first quarter of 2025. That drop is more pronounced in places like Ontario's Kitchener-Waterloo region or Kelowna, B.C. While "it's nice to have a decline of three or four per cent, that doesn't necessarily make up for the big changes that we've seen since 2019," said Moffatt. In the rest of Canada, the average asking rent for a two-bedroom apartment was highest in Vancouver, where the figure stood at $3,170 in the first quarter of 2025. It was followed by Toronto ($2,690), Victoria ($2,680) and Ottawa ($2,490). Montreal ranks 17th on that list, according to Statistics Canada. Advocates for affordable housing recently told Radio-Canada that they're on high alert in the lead-up to Quebec's July 1 moving day, with the province's housing tribunal having authorized the largest rent increase in at least three decades earlier this year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
