You may have heard of psychological safety. It is an important element in positive team dynamics, especially as it relates to fostering a supportive, productive and innovative company culture.

Harvard Business School professor and researcher Amy C. Edmondson first coined the term in 1999 in a research paper. In it, Edmondson defined psychological safety as “a shared belief held by members of a team that the team is safe to take interpersonal risk.” At its core, psychological safety in the workplace is about the freedom to express ideas and present solutions without fear of negative consequences.

Ironically, the notion of psychological safety and permission stepping outside the box can be very scary for many employees. Even with permission to make mistakes, there can be a level of discomfort associated with vulnerability. People fear rejection. Maybe they lack confidence. Business leaders themselves may struggle with the future because of concerns about power dynamics or the appearance that they do not own all the solutions. So while psychological safety is commendable and incredibly rewarding, achieving it is actually easier said than done.

Let's get started on how to peel back layers of psychological safety and some preconceived notions related to power, trust and productivity in your organization.

Connected: 4 ways to cultivate psychological safety for your team

Psychological safety is simply smart business

Now, I'm not a psychologist or a researcher of interpersonal development. But I'm the president and CEO of a global organization that works with thousands of business owners to improve key aspects of their companies, such as operations, productivity, innovation, human resources and leadership. And I can tell you firsthand that few or no businesses today thrive because of a top-down management style that limits employee involvement and discourages new ideas.

Even large, well-established corporations increasingly recognize the value of collaboration and input – and not just from their management teams. Promoting psychological safety across the organization means that everyone, not just those at the top of the food chain, is empowered and encouraged to contribute insights and solutions. However, great progress still needs to be made.

According to a recent Wiley survey, only 53% of respondents felt safe taking risks in the workplace. As job titles increased, so did comfort levels, with 93% of executives reporting that they felt psychologically secure in their roles. These statistics add up to many missed organizational opportunities.

An Accenture 2021 study reported that companies that embrace psychological safety benefit from a 27% reduction in employee turnover, a 50% increase in productivity, and a quantitatively more engaged and satisfied team. So psychological safety, it seems, just makes good business sense.

Connected: Why you should care about psychological safety in the workplace

How to promote psychological safety in your business

Psychological safety in an organization does not happen overnight. It takes work and a lot of intention. And transparency. And team building. And open communication. And support. It also requires a good dose of humility from business leadership.

At its core, psychological safety is about building and fostering an environment that encourages, values ​​and even rewards personal knowledge and creativity. While the way organizations can achieve this goal is undoubtedly unique and it depends on many factorsthere are universal key elements to psychological safety.

1. Respect and professionalism. High standards of professional conduct are fundamental to psychological safety. Respectful interactions between peers and leadership are essential even in high-stress scenarios. Consider creating and documenting a professional code of conduct for your organization and include it in your employee handbook.

2. Open communication and feedback. Encourage your team to offer their ideas and concerns in both closed-door conversations and group meetings. This includes their views on current operations or new implementations. It is important that while opposing perspectives are considered and considered, solutions and discussions do not end up in analysis paralysis. Instead, when it makes sense, commit to revisiting issues after a certain amount of time.

3. Trust and empathy. Trust can be tricky at both the leadership and non-management levels, but it really does start within employment process. Vet potential employees for not only their skills and intelligence, but also their ability to be collaborative, show compassion, and essentially act as a trusted advisor to your organization. It's not just about you trusting them, it's that they trust you too – and everyone on the team trusts each other. So look for those job candidates with great skills and high emotional IQ.

4. Acknowledgment and support. From a leadership perspective, it is important to validate individual contributions even when those ideas do not necessarily materialize or generate the expected results. A simple nod recognition or support can encourage your team and act as a powerful catalyst for future improvements and innovations.

As you continue to navigate your journey to success, remember that every member of your team adds tremendous value to your organization. It's your job as a business leader to make sure they know this and feel psychologically safe enough to tell it.