Editorial
Speed is glorified in the business world today, particularly within high-growth organizations. With its mantras of “move fast and break things” and “fail fast, fail often,” Silicon Valley lauds cultures that value rapid execution and a bias for action.
These principles, while necessary for driving innovation and agility, can become a double-edged sword when taken to extremes. In the pursuit of velocity, too many leaders cut corners, bypass thoughtful deliberation, and ultimately, make poor decisions leading to substandard business outcomes.
The Perils of Prioritizing Speed Over Quality
Numerous examples illustrate the dangers of overemphasizing speed at the expense of quality. Boeing serves as a cautionary tale. Once a paragon of engineering excellence, Boeing became ensnared in a series of crises that exposed significant flaws in its product development and quality control processes.
In its race to compete with Airbus and capitalize on the booming demand for fuel-efficient aircraft, Boeing prioritized cost-cutting and speed over its historical commitment to engineering and quality. The shift was most evident in the development of the 737 MAX, a project that the company rushed to meet aggressive deadlines. The de-prioritization of investments in engineering and quality assurance contributed to fatal crashes involving the 737 MAX, leading to a global grounding of the aircraft and a severe erosion of trust in the Boeing brand. The fall from these decisions has been nothing short of catastrophic for Boeing; the company has faced billions of dollars in losses, multiple lawsuits and a significant decline in stock price.
The technology industry is littered with examples of rushed product launches that did not meet expectations, and in some cases, eroded brand value. For instance, Samsung’s Galaxy Note 7, which was hurried to market to compete with Apple’s iPhone, ended up a public relations debacle due to battery explosions. The cost was not just in recalls and lost revenue, but also in brand reputation — a currency far more valuable in the long run.
Lattice, an HR software provider, recently announced a new feature aimed at onboarding digital workers. The announcement, however, was quickly retracted after receiving substantial criticism from industry practitioners. Critics noted that the announcement placed AI workers on the same level as human workers, lacking the human-centric approach one would expect from an HR technology organization. The company’s inability to adequately respond to questions from clients and experts further demonstrated the rushed nature of the release. The hasty rollout also surfaced a broader oversight: Lattice’s failure to gauge customer and market sentiment on the readiness for humanizing AI workers. Lattice’s approach in this instance highlights the importance of thoughtful, well-planned execution.
Hiring is another common process where companies often make hasty decisions in a bid to meet immediate demands or capitalize on fleeting opportunities. This urgency frequently leads to over-hiring whereby businesses bring on more employees than necessary without thoroughly evaluating the long-term need for each position. While hiring is often a critical part of any organization’s growth journey, prioritizing speed over strategic, conscious talent strategies triggers a never-ending cycle of over-hiring followed by layoffs. “So many cold, callous layoffs we’ve seen have been a symptom of corporations that haven’t moved with intentionality in creating and hiring for particular roles,” asserted Tigran Sloyan, CEO and co-founder of CodeSignal in an interview with Fast Company.
Related Article: Silicon Valley's Boom-Bust: Were Tech Layoffs Preventable?
The Case for Thoughtful Decision-Making
To avoid the pitfalls of hasty decision-making, leaders must “slow down to speed up.” This paradoxical approach requires a cultural shift toward more deliberate and thoughtful processes, ensuring that decisions are not only quick but also right. The following principles can guide organizations in adopting this mindset:
Work at a Sustainable Pace
In a world dominated by automation and algorithms, it is easy to forget the importance of working at a human pace and scale. This means creating an environment where employees are afforded the time and space to think critically, collaborate and engage in deep work. Overloading teams with excessive meetings, tasks or unrealistic deadlines can lead to burnout, mistakes and suboptimal outcomes.
One way to implement a more considered approach is by instilling organizational discipline around goal setting. Leaders must also foster an environment of psychological safety where employees feel safe expressing concerns about the feasibility of assigned goals. In a world of “work hard, play hard” (read: carewashing) cultures, Slack chose to adopt the “work hard and go home” motto. Almost all employees use the “do not disturb” Slack feature, and the company emphasizes respect for people’s non-working hours. By taking a leaf out of Slack’s book and allowing teams to work at a sustainable pace, organizations can ensure that the work produced is not only innovative but also high-quality.
Quality Over Quantity
Quality should be one of the north star metrics for any organization aiming to build a sustainable competitive advantage. A “quality over quantity” approach to work requires a relentless focus on details, even if it means slowing down key processes to get it right.
Toyota’s andon cord system is a prime example of this principle in action. The andon cord allows any worker on the production line to stop the assembly process if they identify a defect. While this action may momentarily slow down production, it prevents the compounding of errors that would otherwise result in costly rework, customer safety issues and product recalls. The andon cord illustrates how a focus on quality can improve long-term business outcomes by reducing the time and resources spent on correcting mistakes.
Create Repeatable Processes
Repeatable processes remain the backbone of operational efficiency and are necessary to scale a business. Standardizing procedures can reduce variability, minimize errors and ensure consistency in output.
Many leaders, particularly in high-growth organizations, resist this mindset shift, conflating process creation with bureaucracy or rigidity. However, the right processes and policies balance consistency and speed while allowing for continuous improvement and iteration. Amazon’s growth is partly attributed to its rigorous process standardization. From the customer order to the fulfillment and delivery process, Amazon has standardized operations to minimize errors and improve efficiency, leading to a superior user customer experience.
As Airbnb scaled, it faced the challenge of maintaining a consistent service quality across millions of listings worldwide. By standardizing the host onboarding process and establishing host best practices, Airbnb enhanced the guest experience and built trust in the brand. To allow for continuous improvement and iteration, Airbnb regularly updates its processes based on feedback from the host and guest community. The key is to strike a balance between standardization and innovation, ensuring processes are both efficient and agile.
Related Article: With Decision Making, You Have to Go Slow to Go Fast
Long-Term Benefits of a Considered Approach
Building Resilient Organizations
The benefits of slowing down to speed up extend beyond immediate operational efficiencies. By fostering a culture of thoughtfulness and deliberation, leaders build more resilient organizations better equipped to navigate today’s complex, ever-changing business landscape.
Fostering Innovation
A thoughtful approach to decision-making and priority execution can lead to more innovative and sustainable solutions. When teams have the time to explore different perspectives, challenge assumptions, and iterate on ideas, they are more likely to develop breakthrough innovations that drive growth and differentiation. In contrast, overemphasis on speed can stifle creativity and destroy value.
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Related Article: How to Prioritize in the Workplace: From the Top Down
Improving Employee Experience
Slowing down to speed up can enhance employee experience. Employees who are empowered to work at a sustainable pace are more likely to be productive and engaged and drive meaningful outcomes. This, in turn, leads to lower turnover and a stronger organizational culture.
Protecting Brand Value and Reputation
In the race to stay competitive, the temptation to prioritize speed over quality and thoughtfulness is strong. However, the consequences of moving too fast can be severe and long-lasting. As the Boeing example demonstrates, reputations that take decades to build can be decimated in an instant when decisions are rushed and quality is compromised. On the other hand, companies that consistently deliver high-quality products and services can build a strong, enduring reputation that translates into customer loyalty, market share and long-term value creation.
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