Men who are four inches taller than average, earn 10% more per year, and blind job interviews can result in more women being hired, are some of the insights revealed in a new book by Professor Doctor Matthias Sutter from the University of Cologne.
In the book, ‘Behaviour Economics for Leaders’, Sutter has analysed 50 research papers to condense the best insights for leaders today.
In the book, he discusses how men who are taller than average, earn a higher salary and explains that taller people build up a larger social network in their late teens and acquire more social skills – resulting in a higher salary in later life.
Other insights revealed in this book are:
• Working from home is great, but it could hurt your career
Working from home increases productivity and boosts job satisfaction as it helps sustain the balance between personal life and work.
However, working from home also comes with the risk that promotions are less likely since networking is a lot more difficult.
• More women are hired when job interviews are blind
Research has found that women can be evaluated negatively by men in job interviews if the number of women in leadership positions is high.
Instead, having blind applications where name, race, age, and gender are not revealed proves to be more beneficial – especially for women.
• Social skills are considered much more valuable than 10 years ago
The more complex the world of work becomes; the more valuable social skills are. This is because jobs increasingly require efficient coordinating of team members, resolving conflict, and facilitating their ideas. These skills are rewarded by the labour market, and often result in better career opportunities and higher salaries.
• Managers often make hiring mistakes, but AI can prevent this
Human decision-making is subject to errors and bias. However, computer algorithms can help identify the best candidates from among a flood of applications.
If managers were to take recommendations from the computer into consideration, it would result in an improved selection of candidates and often produces people who will stay with the company.
• Four traits most CEOs have
Researchers analysed 30 personality traits of CEOs and found four characteristics that those who were CEOs scored highly in: ability to deliver, charisma, high cognitive ability, and a strategic approach to get things done.
It is also important to note that women who scored as strongly as men in these four factors were still less likely to be appointed CEO than men.