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Managing is difficult enough. But, leaders have to predict what employees will think. Oh, and by the way -- everyone is irrational. Dan Ariely has written a book on the subject, titled "Predictably Irrational:The Hidden Forces That Shape Our Decisions." The name of this new discipline is "behavioral economics." Although standard economics presumes humans to be rational beings, Ariely believes we are not only fundamentally irrational, but that we make the same mistakes over and over. And you thought you already had enough to think about. Here are 5 cool ideas for managing irrational employees. 1. Corporate security is not just for those on the outside. Employees are more likely to steal from their employers than anyone else. Theft and fraud in the workplace costs American businesses around $600 billion annually. By comparison, all robberies, burglaries, larceny and auto theft committed against strangers cost about $16 billion in 2004. Stealing is a crime, so it's especially intriguing to learn that it's easier for most people to justify stealing when the pilfered item is one step removed from cash. Keep an eye on those office supplies. 2. Tattoos cause more financial pain than physical discomfort. A friend of mine refers to visible tattoos as "future income limiters." Body art is as popular as ever, despite the fact that it immediately disqualifies one from getting many types of high-paying jobs. 3. An employee can be unique to a fault. Noting that Americans regard uniqueness as a positive character trait, author Ariely notes that people with a need for uniqueness are sometimes willing to sacrifice personal utility for "reputational" utility. Fired anyone for blogging lately? 4. Never put off 'til tomorrow, what you can do today. If college teaches us anything, it's how to postpone writing a term paper until the night before it's due. Procrastination is alive and well in the workplace as employees delay problems involving customer satisfaction. For all intents and purposes, eight people died aboard the space shuttle Challenger because employees postponed telling management that the shuttle probably shouldn't take off in cold weather. 5. When things are bad, there is much room for improvement. Ever wonder why employees decline to fully participate in your company's 401k program? Leaders might think the concept of predictable irrationality to be rather depressing, but the author offers many suggestions for improving our situation. A program called, "save more tomorrow," allows employees to save a percentage of future salary raises.
Michael Angelo Caruso has delivered over 2,000 keynote speeches and presentations on the subject of communication. He is President of the Edison House, a Detroit-based consulting and publishing company. Mr. Caruso is author of the 5 Cool Ideas books and the FastLearnerAudio series, which can help you become an even better person. To receive Michael's free, bi-monthly 5 Cool Ideas newsletter, simply send an e-mail to 5CoolIdeas@EdisonHouse.com
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