Behavioral economics for leaders : research-driven insights on the weird, irrational, and wonderful ways humans navigate the workplace / Matthias Sutter.

Format:

Book

Author/Creator:

Sutter, Matthias, author.

Language:

English

Subjects (All):

Economics--Psychological aspects.

Economics.

Leadership--Psychological aspects.

Leadership.

Teams in the workplace--Psychological aspects.

Teams in the workplace.

Physical Description:

1 online resource (258 pages)

Place of Publication:

Hoboken, New Jersey : John Wiley & Sons, Inc., [2023]

Summary:

"The science of behavioral economics explains the ways people are "predictably irrational." This book helps leaders understand how people "tick", how they react to incentives (monetary or non-monetary in nature) and what that means for working together - or against each other - at work. Understanding people is crucial for success in business and organizational life. But people are weird. The science of behavioral economics can help leaders understand the ways people are "predictably irrational" and what leaders can do about it. This book explains fascinating ways employees react to incentives (monetary or non-monetary) and what that means for teamwork - or working against each other - at work. Modern behavioral economics research is better suited than any other research direction to pursue these questions and provide answers. The author, one of the most influential economists in Germany, has been researching behavioral economics for 20 years and takes you on a journey to summarize for leaders the most important findings in the discpline, both for your own personal career, but also for the people and teams you lead"-- Provided by publisher.

Contents:

Cover

Title Page

Copyright Page

Contents

Acknowledgments

Introduction: Why Do Smart People Behave Strangely?

Part I Behavioral Economics for Your Career

Chapter 1 The Taller You Are, The Higher Your Salary?

References

Chapter 2 The Job Interview-It's Tougher for Women

Chapter 3 Working from Home Is Great-But It May Hurt Your Career

Chapter 4 Social Skills Are Worth More Now Than 10 Years Ago-Much More

Chapter 5 Fifty Percent of People Find a New Job Through Their Social Networks-Weak Connections Matter More Than Strong Ones

Chapter 6 When Finding a New Job, Rigidly Structuring Your Day Is a Power Move

Chapter 7 Better "Zappa" Than "Adams"-Why Coming Later Alphabetically Gives You an Unfair Advantage

Chapter 8 Job Hunting and Patience

Part II Behavioral Economics for Hiring and Retaining Talent

Chapter 9 Startups with a Larger Share of Women Last Longer

Chapter 10 The Unintended Positive Side Effects of Employee Referral Programs

Chapter 11 Managers Make Systematic Hiring Mistakes-Machines Can Help

Chapter 12 Why Employers Prefer Employees Who Don't Job Hop

Chapter 13 Look for Candidates Who Demonstrate Patience and Long-Term Thinking

Chapter 14 Unintended Negative Consequences of Salary Transparency

Part III Behavioral Economics for Managers: Teamwork, Motivation, and Productivity

Chapter 15 Prejudiced Managers Hurt Employee Productivity-More by Neglect and Lack of Engagement Than Active Discrimination

Chapter 16 When It's Hot Outside, People Are More Risk Averse and Make Worse Decisions

References.

Chapter 17 Managers with Good People Management Skills Increase Employee Satisfaction and Reduce Turnover

Chapter 18 Can You Trust Your Bankers? The Finance Industry Attracts Less-Trustworthy People

Chapter 19 Peer Pressure Productivity: Employees Are Influenced by the Productivity of Others Around Them

Chapter 20 Employees Who Don't Support the Company Mission Are 50% Less Productive Employees

Chapter 21 The More Collaborative Your Team Members, the More Fish You Will Catch

Chapter 22 Empowering Employees Saves Lives: The Co-Determination Bonus

Chapter 23 Good Leaders Model the Behavior They Want to See in Others-and Employees Imitate It

Chapter 24 Selfish Leaders End Up with Selfish Followers

Part IV Behavioral Economic Research on Gender Differences and Unequal Pay: Women Are More Risk Averse (and Men Overestimate Themselves)

Chapter 25 An Argument for Gender Quotas in Employment: They Can Help Attract Highly Qualified Women

Chapter 26 The More Competitive Your Attitude, the Higher Your Lifetime Earnings

Chapter 27 Willingness to Compete Starts by Early Childhood: The Pivotal Role of the Family

Chapter 28 Cultural Conditioning Helps Explain Differing Male and Female Attitudes Toward Competition

Chapter 29 A "Nudge" for Reducing the Male/Female Wage Gap

Chapter 30 Women Leaders Earn More and Revenue per Employee Goes Up When Women Are on the Board

Part V The Economic Benefits of Fairness and Trust

Chapter 31 Trust Is an Economic Asset

Lack of Trust Is Expensive

Chapter 32 A Little Accountability Goes a Long Way: Trust Works Best When Monitoring Is Possible but Not Used

Chapter 33 Why It's Important to Explain Difficult Employee Decisions: Treating One Employee Unfairly Hurts Everyone's Productivity

Chapter 34 Communicating Good Intentions Gets You a Better Outcome

Part VI Salary and Bonuses

Chapter 35 Paying People More Doesn't Mean They'll Make Better Decisions

Chapter 36 Team Bonuses Motivate Employees to Work Harder-and to Help Each Other More

Chapter 37 Nobody Wants to Be Below Average

How Performance Bonuses Can Hurt Productivity and Job Satisfaction

Chapter 38 The Limits of Homo Economicus: Employees Underperform If Their Performance-Based Bonus Hurts Their Colleagues' Bonus

Chapter 39 Wall Street Bonuses Incentivize Unhealthy Risk Taking-and Increase Systemic Risk

Chapter 40 Don't Incentivize Employees to Sabotage Colleagues: The Problems with Relative Performance Bonuses

Part VII Ethics in Companies and on the Markets

Chapter 41 Markets Hurt Morality: Government Intervention Can Help

Chapter 42 Unethical Behavior Rises and Falls with Incentives-Make It Hard for People to Get Rich Doing the Wrong Thing

Chapter 43 Small-Scale Cheating Can Lead to Major Corruption: Leaders Should Not Tolerate Minor Ethical Violations

Chapter 44 People Care More About the Environment When They Know Their Organization Cares Too

Chapter 45 The Stunted Career Path of Whistleblowers: Employees View Them As Disloyal

Chapter 46 A Bad Corporate Culture Can Turn Honest People into Liars

Part VIII Leadership and the C-Suite

Chapter 47 Visionary Leaders Outperform Operations-Oriented Leaders Over the Long Term

Chapter 48 The Four Traits That Set CEOs Apart from Other Managers: Strategic Thinking, Charisma, Intellectual/Social Skills, and Focus on Results

Chapter 49 Leaders Who Focus on Short-Term Results Innovate Less and Lower Company ROI

Chapter 50 Charismatic Leaders Inspire Their People to Deliver Better Results

Appendix: All Takeaways-For Impatient Readers

Source Materials

About the Author

Index

EULA.

Notes:

Description based on print version record.

Includes bibliographical references and index.

ISBN:

9781119982982

1119982987

OCLC:

1337409265