Behavioral Economics For Leaders by Doctor Matthias Sutter finds tall men earn more, and more women hired from blind interviews.
Behavioral Economics for Leaders
A new book written by Professor Doctor Matthias Sutter from the University of Cologne reveals insights such as men being four inches taller than the average man, earning 10% more per year, and blind job interviews having the potential to increase the number of women hired.
Sutter analyzed fifty research papers in the book “Behavioral Economics for Leaders” to distill the most useful insights for today’s leaders.
In the book, he talks about how men who are taller than the average earn more money. He also says that Tall Men Earn 10% More Than Short Men people build up a bigger social network in their late teens and learn more social skills, which makes them worth more money in the long run.
This book also provides insight into the following:
Working from home is great, but it could hurt your career.
Working from home helps maintain a healthy work-life balance, which in turn increases productivity and job satisfaction. On the other hand, working from home carries the risk that promotions will be less likely because networking is much more difficult.
When job interviews are blind, more women get hired.
According to research, men can give women bad reviews in job interviews if there are many women in leadership positions. Instead, it proves to be more beneficial, particularly for women, to use blind applications in which the applicant’s name, race, age, and gender are not revealed.
Social skills are seen as much more important than they were ten years ago.
The workplace is becoming more complicated which places greatervalue on social skills. This is because jobs increasingly require effective team coordination, conflict resolution, and idea facilitation. The labor market rewards these skills, which frequently lead to better career opportunities and higher salaries.
AI Can Avoid Hiring Mistake
Human decision-making is susceptible to error and bias, but AI can prevent managers from making hiring mistakes. Among the plethora of applications, computer algorithms can assist in selecting the most suitable candidates. If managers took into account recommendations from the computer, they would be able to choose better candidates and frequently hire people who will stay with the company.
Four characteristics shared by the majority of CEOs
According to a study that looked at 30 personality traits of CEOs, four of them scored highly: charisma, high cognitive ability, and a strategic approach to completing tasks are all important qualities. It’s also important to note that even when these four factors were taken into account, women still had a lower chance of being appointed CEO than men.
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Behavioral Economics for Leaders: Research-Based Insights on the Weird, Irrational, and Wonderful Ways Humans Navigate the Workplace | Wiley