Inaccurate risk perception can lead a person to ignore or misinterpret external cues that demand immediate and effective decisions to avoid hazards. High risk tolerance can lead a person to choose courses of action that unnecessarily expose them to hazards and increased likelihood of an accident.
Risk tolerance is better conceptualized as a personality trait. Risk tolerance may be defined as the amount of risk that an individual is willing to accept in the pursuit of some goal. Risk tolerance may be mediated both by the general tendency to risk aversion of the person and the personal value attached to the goal of a particular situation. Some goals may be judged as worthy of higher levels of risk exposure than other goals. For example, in one survey, pilots indicated that they would take more risks in order to return home for the Thanksgiving and Christmas holidays than they would for flying medicine to a remote village. (Driskill, Weissmuller, Quebe, Hand, & Hunter, 1998)
Risk Tolerance formula: Risk Tolerance = Risk/Gain
The more you work with something or do something, the more relaxed you get around it which can lead to complacency. Risk awareness may improve but Risk Tolerance will also get higher. The more confident you are in something the more you tolerate it. A perfect example is where you have taken a short cut over a thousand times and never suffered the potential consequence. The unsafe act is tolerated until an incident happens.
Tolerance levels can be lowered because of a negative experience related to the job, equipment or process.
Physical and mental abilities along with a person’s knowledge and skill set will have a part to play in a person’s Risk Tolerance levels. If they are not physically or mentally fit to carry out a task they may tolerate an unsafe condition or practice which they would normally accept. Likewise an individual’s knowledge or skillset may effect there Risk Tolerance as they may be ignorant of the potential consequence.
Employees may also have a motivational reason for lowering their Risk Tolerance level. Examples of this include the following:
- Peer Pressure – person may give in to the opinions of peers
- Want to be liked – some people have an ever growing requirement to be liked by everyone and may adopt other people’s opinions and beliefs in order to be liked.
- Don’t want to rock the boat
- Want promotion
- Don’t want to be demoted or lose their job
- Don’t want to be seen as stupid or weak
- Just want to get the job done
- Self-pride in being a good worker and getting it done
- Bonus for getting the job done quick
- Getting paid for what is done and not the hours worked
- The Boss says so
Other reasons might include:
- Shy or unconfident
- It’s always done this way
- Low level of competence
- Safety Attitude, Risk Perception and risk Awareness levels are low
- Nobody cares what way it is done as long as it gets done
Risk Tolerance Levels – What People Say
Level 1 (High Tolerance to Risk) Over Confident
“I can live with that”
“It will only take a second”
“Nobody is looking”
“It’s quicker this way”
“The Policy/Procedure is stupid”
“What do they know”
“Come on let’s get ‘er done!”
Level 2 (Medium Tolerance to Risk)Easily Swayed
“Not sure, maybe we should ask”
“Are you sure it will be ok”
“You might be ok with it but I’m not sure”
Level 3 (Low Tolerance to Risk) Cautious
“Been there done it and don’t want to repeat it”
“That’s how you get hurt”
“There was a safety alert regarding this”
“We are in no hurry to get hurt”
Level 4 (No Tolerance to Risk) Determined
“No, I’m not putting up with that”
No, let’s do it properly and safely”
No, that’s not the Policy/Procedure”
“It’s either do it safely or not at all”
“Come on; let’s leave it until we know what we are doing”
What is your Risk Tolerance? What about your peers and Supervisors? Now what do you think the Risk Tolerance of you Company is? Are you a Risk Taker or a Risk Avoider?
There are those who simply do not tolerate risk to any individuals’ health and safety, there are also those who will
How to Improve your Risk Tolerance Level
- When you see someone doing something unsafe for example, working at height without a safety harness on or working off of the top rung on a ladder, ask yourself if you would let someone you love do the same. I guess not. Then make that intervention as the person making the unsafe act has loved ones too and they would appreciate you making an intervention and ensuring that their loved one comes home safe.
- Do not accept second best as second best in an incident isn’t good.
- Make Safety a value
- Do not accept the high Risk Tolerance levels of others, they may hurt you
- Make sure that all aspects of the job are fulfilled and that includes the safety planning, Assessments, discussions and preparations, not just the end task. Don’t forget to take time out for safety and reassess the job once completed.
- Teach others and lead by example
- Learn to speak like someone who has a level four tolerance to risk and practice saying things like:
- “No, I’m not putting up with that”
- No, let’s do it properly and safely”
- No, that’s not the Policy/Procedure”
- “It’s either do it safely or not at all”
- “Come on; let’s leave it until we know what we are doing”