Companies often believe that customers are more likely to try a new product with a familiar association. But that strategy is riskier than you might think.
by the University of Toronto’s Jing Hu and Jacob B. Hirsh found that people will accept lower salaries for doing meaningful work.
Another body of research shows that people tend to prioritize satisfying their short-term individual desires. A recent discussion with a head of a department in a private financial group offers a case in point. The executive told one of us that he disagreed with the CEO’s “out of touch” push to get his team to return to the office, arguing that he enjoyed working from home and that the high level of productivity of team members was evidence that they should be allowed to stay fully remote.
Though problems occur most frequently when a firm’s singular focus is on material offerings, they also arise when it’s on other factors—something UNICEF recently discovered. When it comes to attracting talent, UNICEF arguably has one of the most compelling and motivating purposes anywhere: to protect the world’s children. Not surprisingly, that mission has long been a primary asset in recruiting and retaining talent.
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