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Building Behavioral Science Capability in Your Company

Posted on December 6th, 2017 by The Learning Factor

If you’re interested in behavioral economics, then you probably heard that Richard Thaler, one of the discipline’s founding fathers, was recently awarded the Nobel prize in economics. You might also be sold on how insights from behavioral science can make a big impact in your organization. You may even have piloted a couple of nudge-based interventions in your organization and are now asking yourself, “What’s next?”

 

You aren’t alone. Increasing numbers of companies are looking to build a behavioral science team — one that is located at the very center of their business and that the whole organization can benefit from. This makes sense, because the alternative is for behavioral insights to be tried out by individuals or specific departments, and their knowledge and skill are likely to vary: Someone in marketing might use their behavioral knowledge to develop more-effective campaigns, while at the same time someone in HR uses theirs to focus on employee engagement. Sales could be developing a behaviorally informed strategy, while operations looks for ways to cut costs.

Sourced through Scoop.it from: hbr.org

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