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Simon Knight

Your company's plan to close the gender pay gap probably won't work | Apolitical - 1 views

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    Interesting discussion of evidence on what does, and does not, work in tackling gender bias in recruitment and management processes. Evidence shows that skills-based assessment tasks (where candidates are given tests that replicate the work they'll actually do on the job) and structured interviews (where all candidates are given the same questions in the same order) have a positive impact on diverse recruitment. Unstructured interviews are more likely to allow unfair bias to creep in. Making promotion and pay processes more transparent can reduce pay inequality: when decisions are reviewed by others, managers realise they need to be objective and evidence-based. Evidence also shows women ask for less money than men. To encourage them to negotiate more, employers should make the possible salary range for roles clear. Studies indicate that women are put off negotiating when they're not sure what a reasonable offer is. "A lot of employers are genuinely really keen to reduce the gender pay gap, and also want to show they're making a change. But they're starved for information about what is likely to work,"
Simon Knight

The decoy effect: how you are influenced to choose without really knowing it - 0 views

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    There's one particularly cunning type of pricing strategy that marketers use to get you to switch your choice from one option to a more expensive or profitable one. It's called the decoy effect. Imagine you are shopping for a Nutribullet blender. You see two options. The cheaper one, at $89, promotes 900 watts of power and a five-piece accessory kit. The more expensive one, at $149, is 1,200 watts and has 12 accessories. Which one you choose will depend on some assessment of their relative value for money. It's not immediately apparent, though, that the more expensive option is better value. It's 50% more powerful but costs almost 80% more. It does have more than twice as many plastic accessories, but what are they worth? Now consider the two in light of a third option. This one, for $125, offers 1,000 watts and nine accessories. It enables you to make what feels like a more considered comparison. For $36 more than the cheaper option, you get four more accessories and an extra 100 watts of power. But if you spend just $24 extra, you get a further three accessories and 200 watts more power. Bargain! You have just experienced the decoy effect.
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