We all hope that the answer to that is no.
Would you check your phone whilst in the midst of a piece of work? Or in a meeting? Or would you have pop ups on your computer, so that you can constantly keep in touch with everything that is going on?
I’m sure that many would answer yes to most of the above. But then, of course, multitasking is what we need to do in the modern world to keep up. Or is it? Countless studies have proved that multitasking produces sub-standard work. However, the funny thing is that many believe that this does not apply to them and do not seem to appreciate the risks involved.
In financial modelling, distractions are one of the biggest causes of errors. A state of mind which is continually flipping from task to task is incapable of either flow or insight.
Here are my observations from decades of training:
- No one can multitask.
- Lack of attention is exhausting. My delegates have often thanked me for the relaxed state of their mind as they have been forced to put their phones away and pay proper attention.
- Training is pointless if delegates are unable to concentrate.
- Experienced modellers who are distracted by their phones are slower and make more errors than focussed beginners.
- Phones and emails can be an addiction. Like all addictions they can take over your life without you realising.
And don’t just believe me. A study by the by the University of California, Irvine has shown that it takes an average of 23 minutes and 15 seconds to get back to deep focus after a phone distraction.
Successful financial modelling evidently requires two different states of mind:
- Full focus or flow. This is needed whilst modelling.
- Day-dreaming whilst away from the computer. This is needed for creativity.
Neither flow nor day dreaming can happen with constant interruptions.
Please put that phone away (and especially on one of my training courses). And read Daniel Goleman’s book, Focus, to see why paying attention is the key to high performance.