Nudge

Why 'doing everything' at work won't work

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Nov 28, 2022
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INSIGHT

CEO Performance and Confirmation Bias

  • CEOs initially improve company performance by seeking diverse opinions to counter confirmation bias.
  • Over time, CEOs become overconfident, seek limited advice, and performance declines.
ADVICE

Use Group Feedback to Reduce Bias

  • Avoid overconfidence by seeking feedback from a group rather than individuals.
  • Score candidates independently before sharing to reduce bias and improve decisions.
INSIGHT

Social Incentives Over Money

  • Social incentives boost productivity more long-term than larger financial incentives.
  • Sharing incentives fosters a culture of high performance and provides positive emotional rewards.
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