Why the Science of Behavioral Economics is the key to Getting More From Your Employee Recognition Program

Why the Science of Behavioral Economics is the key to Getting More From Your Employee Recognition Program

Presented by: Mike Ryan, Senior Vice President, Client Strategy

Employee recognition planners are always looking for an advantage. But is there a different way to go about designing and executing your programs? Is there a way you can more effectively influence the way employees respond to business challenges and opportunities? Is there a discipline that can drive employee engagement and revenue growth and do so with very little incremental investment?

The answer is yes! Behavioral Economics is a science predicated on the reality that human beings do not always act in rational ways. Academics who have studied this field—along with the many executives and managers who implemented their findings—know that people can be more emotional than logical in their thinking; that they are not always motivated by money; and that context and circumstances shape how they interpret things, respond to situations and make decisions.

So how can you leverage the science of Behavioral Economics to your advantage? How can you use it to drive higher levels of motivational impact for program participants and better business outcomes for senior level sponsors?

This webinar will:

  • Walk you through the premise behind the science of Behavioral Economics
  • Explain why emotions play a far bigger role in shaping human behavior than you might think
  • Introduce you to terms like “maximizers” and “satisficers” and outline how they influence the motivational response you are looking for
  • Explore why context and circumstance drive decision-making and show you how you can influence both
  • Suggest that willpower has multiple dimensions and explain how that represents a planning and communications advantage
  • Examine why people are predisposed to resist complexity and embrace choices and why that notion should be central to your rewards philosophy

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