The Pitfalls of Automation
Humans retain a vital role in most high-risk industries, particularly in their abilities to problem solve and respond to unanticipated events. The demands on these operators have been increasing and are likely to reach a point where current human and technological capabilities will be severely strained. This situation has in the past, and will in the … Read More
The Human Factors of Banking and Finance
THE HUMAN FACTORS OF BANKING & FINANCE The common thread in most studies dealing with financial decision-making deals with mathematical models of financial prediction. In a similar model, traditional approaches to risk management focus on absorbing or “controlling” risk to make profit (Unser, 2000). In the banking and finance industry, reducing error is often attempted … Read More
Safety Leading Indicators
Developing and Implementing a Safety Lead Indicator Program Organisations are increasingly moving towards an approach to safety that is proactive and predictive. For this to occur, a socio-technical systems approach to safety is often recommended. This involves considering all variables within the work environment and how they interact with one another (e.g., people, procedures, systems, … Read More
Human Performance in Military C2
Existing military command and control (C2) frameworks have been useful in highlighting technology related issues and their direct effects within an organization. They are, however, limited in assessing the full range of impacts resulting from technology insertions and in exploring the links between C2 changes and battlefield effects. Additionally, traditional C2 frameworks have … Read More
Human Factors Improves Outcomes in the Banking Industry
What happens when a financial institution takes a traditional approach to risk, with the aim to eliminate or minimise human error with procedure laden controls and a focus on individuals’ actions? Unless the industry is highly stable with very little complexity involved, it can be like trying to fit a square peg into a round … Read More
How Psychological Flexibility Increases Safety and Performance in High-Reliability Industries
What do financial traders, surgeons, miners, bankers, pit crew, pilots, and air traffic controllers all have in common? Their decisions often have life-impacting implications for themselves and others. Their roles are complex, high-risk, and require rapid decision-making under extreme pressure. To avoid catastrophe, they must manage the unexpected as efficiently, effectively, and safely as possible. … Read More
