Are Labor Markets Competitive?

When anti-trust cases are brought forward, typically they involve monopolies exercising undue power related to products or services. Rarely do labor issues get the same treatment. Posner points in this episode to why the laws may need strengthening. Issues include stagnant wages, and the use and abuse of non-poaching, non-complete and arbitration clauses in the contracts that workers sign. Add in the practice of gig workers and rising inequality issues related to household wealth, and you can’t find a more-timely topic than this one.

Released today: episode #115 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Eric Posner discussing How Antitrust Failed Workers. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author --- and his new book titled "How Antitrust Failed Workers" for Dan Hill's EQ Spotlight Podcast, episode number 115, titled "Are Labor Markets Competitive". Available on the "NewBooks Network" Podcast.

Eric Posner is a professor of Law at the University of Chicago. He’s currently on leave and working for the Anti-Trust Division of the U.S. Justice Department. (Note that his views do not necessarily reflect those of the Justice Department.) Two previous books by Posner were each separately chosen as a book of the year in 2018, one by The Economist and the other by The Financial Times.

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest book available on Amazon is Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals.

Does Your Idea Scale?

Want to go on an exuberant, incisive ride through why so many initiatives flounder and how, conversely, you can increase the odds of success? Then listening to John List will be for you. List takes us through his favorite, highly relevant behavior economic principles: loss aversion, confirmation bias and framing among them. Then this episode digs into why 50 to 90% of initiatives fail to scale. List emphasizes the role that false positives and unscalable ingredients play. As to the secrets of building out an idea, knowing when to quit stands out for reasons worth listening in for. Finally, the importance of scaling a company’s corporate culture explains why the gladiatorial culture at Uber wasn’t sustainable at scale.

Released today: episode #114 of my podcast series “Dan Hill’s EQ Spotlight,” featuring John List  discussing  The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

John List is a professor of economics at both the University of Chicago and the Australian National University. After being the chief economist at Uber and Lfyt, he now holds that role at Walmart. He’s also previously been on the Council of Economic Advisers for The White House.

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Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

Consumers are Weird

Once you realize that the average person makes 35,000 decisions a day, it makes total sense that habits drive 95% of our behavior. Otherwise, we’d become paralyzed with analysis paralysis in trying to choose what to do next. As Melina Palmer fully recognizes, behavioral economic principles help to unlock the mystery of why people do things that seem so confounding. How could it be, for instance, that giving the gift of two mints with your check in the restaurant can lead to a 14% increase in the average tip for the waiter? Well, gratitude—the principle of reciprocity—weighs in. From the difference between satisfaction and delight to what the peak/end rule can make a small business more prosper if used well, this is both a fun and meaningful episode.

Released today: episode #112 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Melina Palmer discussing What Your Customer Wants and Can’t Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author --- and his new book titled "What Your Customer Wants and Can’t Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics" for Dan Hill's EQ Spotlight Podcast, episode number 112, titled "Consumers are Weird". Available on the "NewBooks Network" Podcast

Melina Palmer is the founder and CEO of the Brainy Business and hosts the podcast by that same name. She received a Masters in behavior economics from the Chicago School of Professional Psychology, teaches at the Texas A&M Human Behavior Lab, and writes a column for Inc. magazine [NBN logo]

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest book available on Amazon is Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals.

Image of NewBooks Network logo and Dan HIll's EQ Spotlight podcast logo

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

Image of Dan Hill's New Book "Emotionomics 2.0 The Emotional Dynamics Underlying Key Business Goals"Click on image to go to the books page on Amazon.com

Treat Your Suppliers as Friends

Want to know the challenges bedeviling NATO as it seeks to arm Ukraine? This week’s guest is as good a source as any, given how much the combination of Covid-19 and the war in Ukraine have put the focus on procurement. An area normally the “corporate equivalent of being sent to Siberia” (to quote this book) has now moved front-and-center. Triplat and the other three colleagues at the Boston Consulting Group (BCG) who collaborated on Profit from the Source emphasize the need not just to save costs, but for companies and their suppliers to join forces to optimize the innovation process together. Right now the average CEO spends no more than about 5% of his or her time on the procurement process. Since over 50% of a company’s expenditures involve suppliers, clearly a realignment of priorities is overdue.

Released today: episode #111 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Alenka Triplat Hoffman discussing Profit from the Source: Transforming Your Business by Putting Suppliers at the Core. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author Alenka Triplat and her new book titled "Profit From the Source: Transforming Your Business By Putting Suppliers at the Core" for Dan Hill's EQ Spotlight Podcast, episode number 111, titled "Treat Your Suppliers as Friends". Available on the "NewBooks Network" Podcast.

Alenka Triplat is a partner and managing director at the Boston Consulting Group, based in BCG’s Vienna office. She advises global leaders in the high-tech, defense, and industrial goods sectors.

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Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

Dare To Be Remembered

For this week’s guest Greg Hoffman, the characteristics of empathy and curiosity are central to everything from finding your place in the world, to connecting with others, to building a brand that exhibits a true sense of purpose by empowering people to realize their potential. Along the way, this episode also explores both the value and limits of data-driven marketing takes on the central role of smartphones today, and goes back into Hoffman’s own backstory as a mixed-race child growing up in a nearly all-white suburb of Minneapolis. In art and sports, Hoffman found a path forward.

Released today: episode #110 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Greg Hoffman discussing Emotion by Design: Creative Leadership Lessons from a Life at Nike. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author --- and his new book titled "Emotion By Design: Creative Leadership Lessons From a Life at Nike" for Dan Hill's EQ Spotlight Podcast, episode number 110, titled "Dare To Be Remembered". Available on the "NewBooks Network" Podcast.

Greg Hoffman is a global brand leader, advisor, speaker, and former Nike Chief Marketing Office. He’s now the founder and principal of the brand advisory group Modern Arena as well as a branding instructor at the University of Oregon’s Lundquist School of Business and a member of the Board of Trustees at the Minneapolis College of Art and Design (MCAD).

Image of NewBooks Network logo and Dan HIll's EQ Spotlight podcast logo

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

What’s Your Listening Filter?

What’s your default listening mode? Are you a pivoter, a distractor, a withdrawer, an explorer or, like today’s guest, an innate problem-solver trying to find a solution to whatever is troubling the person you’re having a conversation with? Three different kinds of difficult conversations get covered here: 1) an imbalance-of-power conversation between a boss and a subordinate; 2) a competitive-conversation between divorced parents navigating childcare; and 3) a regressive-conversation where an elderly parent and child can easily fall into character roles they played decades ago. In each case, Ximena Vengoechea offers sound, sympathetic advice on how to steer clear of the usual pitfalls.

Released today: episode #109 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Ximena Vengoechea discussing Listen Like You Mean It: Reclaiming the Lost Art of True Connection. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author Ximena Vengoechea and her new book titled "Listen Like You Mean It: Reclaiming the Lost Art of True Connection" for Dan Hill's EQ Spotlight Podcast, episode number 109, titled "What's Your Listening Filter?". Available on the "NewBooks Network" Podcast.

Ximena Vengoechea is a user researcher, writer, and illustrator whose work on personal and professional development has been published in Inc., The Washington Post, Newsweek, Fast Company, and elsewhere. Her career has included positions at Pinterest, LinkedIn, and Twitter.

Image of NewBooks Network logo and Dan HIll's EQ Spotlight podcast logo

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

Exploring the Say / Feel Gap

Have you ever seen the TED talk video on YouTube where Capuchin monkeys get enraged when some receive cucumbers and other monkeys more delicious grapes for completing the same task? Welcome to the inequality basis, whereby a lack of fairness drives all of us crazy. Whether it’s a matter of employees getting different pay for the same job, or consumers feeling like some people get better deals than others, feelings of injustice may not be clearly articulated but can—and will–most definitely drive our behavior. How similar is what people say and how they feel? Not much, says my guest this week. Richard Chataway estimates that, in fact, verbal input may at best get you 50% of the way to understanding how somebody might actually behave. Other topics covered in this episode include why inspiring disgust helped an anti-smoking campaign Chataway worked on do so well, and how Hilton Hotels leveraged the use of the Big Five personality model to increase clicks and shares online.

Released today: episode #10 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Richard Chataway, discussing The Behaviour Business: How to Apply Behavioural Science for Business Success. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author Richard Chataway and his new book titled "The Behaviour Business: How to Apply Behavioural Science for Business Success " for Dan Hill's EQ Spotlight Podcast, episode number 108, titled "Exploring the Say / Feel Gap". Available on the "NewBooks Network" Podcast.

Richard Chataway is the CEO of BVA Nudge Consulting UK and the founder of the Communication Science Group. Clients have included: Lloyds Banking Group, Google, and IKEA. He’s also a former board member of the Association of Business Psychology in the UK.

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Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

High Wages: The Engine of Economic Growth and Well-Being

What sometimes gets overlooked is that Adam Smith not only became the “father of capitalism” by writing The Wealth of Nations; he also wrote The Theory of Moral Sentiments. Empathy matters, and this week’s guest Morris Altman argues that sustainable capitalism practices fairness. Too often the basic economic needs of rank-and-file workers are overlooked in a global economic where the wealthy call the shots. From anti-immigrant rhetoric to events in Ukraine, this is a timely episode that subjects the purported move from shareholder capitalism to stakeholder capitalism to skeptical examination. Want more engaged workers? To achieve that goal, make them more truly empowered, with their input acted on and rewarded alike.

Released today: episode #106A of my podcast series “Dan Hill’s EQ Spotlight,” featuring Morris Altman, discussing Worker Satisfaction and Economic Performance. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author --- and his new book titled "Worker Satisfaction and Economic Performance: Microfoundations of Success and Failure" for Dan Hill's EQ Spotlight Podcast, episode number 106, titled "High Wages: The Engine of Economic Growth & Well-Being". Available on the "NewBooks Network" Podcast.

Morris Altman is the Dean of the University of Dundee’s School of Business. He’s published over 130 referred papers and 17 books. He’s also held academic posts at the University of Saskatchewan, Victoria University, Newcastle University, and at Hebrew University, Stanford, Cornell and Duke.

Image of NewBooks Network logo and Dan HIll's EQ Spotlight podcast logo

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

Why Employee Experience, and Why Now?

Covid-19 has drastically changed the workplace, causing “essential workers” to contemplate what they essentially want from their jobs over and above decent pay and benefits. High on their list of priorities is gaining greater autonomy, an opportunity to learn, and to achieve a sense of purpose on the job. As this week’s guest explains, cast aside, therefore, workplace myths such as the following: that the employee experience (EX) is about perks, that HR “owns it” alone, that attracting and retaining employees covers the bases so far as EX is concerned, and that EX applies only to privileged, high-end employees working remotely as opposed to on the frontlines or in warehouses. EX can’t wait because EX is happening everyday – whether in good, bad or ugly ways.

Released today: episode #105 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Belinda Gannaway, discussing the book she co-authored with Emma Bridger, Employee Experience by Design: How to Create an Effective EX for Competitive Advantage. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author Belinda Gannaway and her new book titled "Employee Experience by Design: How to Create an Effective EX for Competitive Advantage" for Dan Hill's EQ Spotlight Podcast, episode number 105, titled "Why Employee Experience, and Why Now?". Available on the "NewBooks Network" Podcast.

Belinda Gannaway is a director at the employee experience consultancy Fathom XP. Her fascination with organizational culture began when she was a journalist working in the U.K. Houses of Parliament.

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Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.

Very Connective End-to-End Experience

First impressions really do matter, and the merger and acquisition (M&A) deals that receive a positive reaction on Announcement Day tend to outperform, over time, those deals where due diligence wasn’t practiced up front. Indeed, as Mark Sirower notes, in two-thirds of cases a negative initial reception is a sign that the deal will never gain momentum. What leads to success? Among the key elements is focusing on the employee experience. Smart companies get “ahead of the pain” by acknowledging that during M&A activity workers will have moved from the highest rung of Maslow’s Hierarchy of Needs (self-realization) to fearing for their material well-being, their security, i.e., the lowest, most basic rung of the ladder. In short, at a time of vast, globalized M&A deal-making, emotional intelligence has never been more important as companies navigate the emotional earthquake most employees are going to experience.

Released today: episode #104 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Mark L. Sirower, discussing The Synergy Solution: How Companies Win the Mergers & Acquisitions Game. Click on https://newbooksnetwork.com/category/special-series/dan-hills-eq-spotlight to get to the new episode.

Images of author Mark L. Sirower and his new book titled "The Synergy Solution: How Companies Win the Mergers & Acquisitions Game" for Dan Hill's EQ Spotlight Podcast episode number 104, titled "Very Connective End-to-End Experience". Available on the "NewBooks Network" Podcast.

Mark L. Sirower is a leader in Deloitte’s M&A and Restructuring practice and was, previously, a global M&A leader at the Boston Consulting Group. He teaches M&A at the NYU Stern School of Business and has also authored The Synergy Trap prior to partnering with Jeffery M. Weirens on this latest book.

Image of NewBooks Network logo and Dan HIll's EQ Spotlight podcast logo

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.