Katy Milkman on How To Make Lasting Changes In Your Life
Jan 21, 2025
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Katy Milkman is a behavioral science expert and bestselling author known for her insights on making lasting changes. She discusses the journey from competitive tennis to understanding human behavior and highlights the psychological challenges of implementing change, such as loss aversion. Katy emphasizes the importance of 'kill criteria' in decision-making and explores innovative strategies like commitment devices and gamification to foster positive behaviors. Her practical tips offer listeners valuable insights into personal and organizational transformation.
Katy Milkman's competitive background in tennis ignited her fascination with decision-making psychology, merging her interests into behavioral science.
She highlights the significance of framing changes positively for leaders, as this can ease resistance and encourage organizational transformation.
Milkman advocates for commitment devices, such as locked savings accounts, to enhance goal adherence by leveraging psychological strategies for self-improvement.
Deep dives
Understanding Human Behavior Through Competition
Katy Milkman's journey into understanding human behavior was significantly influenced by her competitive nature as a tennis player. Her experiences on the court led her to confront her inner anxieties, ultimately sparking her interest in the psychology of decision-making. Although initially skeptical about psychology, she discovered its relevance through her studies in operations research and financial engineering. This unique blend allowed her to apply quantitative techniques to better understand human choices and behaviors.
The Impact of Daily Decisions on Health
A pivotal moment in Milkman's career came from a seminar at the University of Pennsylvania, where she learned that daily decisions contribute to a significant percentage of premature deaths in the U.S. The shocking statistic revealed that around 40% of such deaths result from choices individuals can change, like diet, exercise, and seatbelt usage. This realization fueled her passion for helping people make better decisions across various facets of life. By focusing on behavioral science, she aims to facilitate positive change that can enhance overall well-being and longevity.
Resistance to Change and Psychological Barriers
Change often encounters resistance due to psychological barriers like loss aversion, where people find losses more painful than equivalent gains. Milkman notes that this resistance can complicate organizational changes, as individuals may focus on negative aspects instead of potential benefits. To effectively lead change, it is crucial for leaders to frame changes positively and highlight net gains alongside any losses. By adopting a strategy of bundling good and bad news, organizations can mitigate negative reactions and foster a more positive response to change.
Gamification and Engagement in the Workplace
Gamification can be a powerful tool in making goal achievement enjoyable, but it must be implemented thoughtfully. Simple techniques like leaderboards or points may backfire if employees perceive them as trivial or patronizing. Instead, creating genuine engagement through social connections and meaningful activities leads to better outcomes. Successful gamification recognizes the importance of enjoyment and aligns goals with intrinsic motivations rather than relying solely on external rewards.
Commitment Devices to Foster Change
Milkman emphasizes the value of commitment devices, which help individuals stick to their goals by leveraging self-imposed restrictions. For example, locked savings accounts that prevent withdrawals until specific goals are met can encourage better financial habits. Similarly, studies show that individuals who set up penalties for not meeting their goals are more likely to succeed in behaviors like smoking cessation compared to those without such constraints. By understanding these psychological strategies, people can create environments that promote positive change and steady progress toward their objectives.
Katy Milkman is an expert on changing yourself. She is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania, host of Charles Schwab’s popular behavioral economics podcast Choiceology, and the former president of the international Society for Judgment and Decision Making. Katy has worked with organizations such as Google, the White House, Walmart and the U.S. Department of Defense, where she’s helped leaders affect meaningful change. She is also the bestselling author of How to Change. Katy’s work has been featured in the Washington Post, The New York Times, CNN and The Economist.
Katy joined host Robert Glazer on the Elevate Podcast to discuss how to make changes in your own personal and professional life, and how leaders can make effective organizational changes.