Personal development and psychology As a psychology minor, I’ve always been interested in the science behind behavior and thought.Asch’s conformity experiment, for instance, taught me the power and influence of groupthink.Alternatively, the foot in the door technique (Freedman & Fraser, 1966), showed me the importance of asking for small requests first.When I began working at HubSpot, I again noticed the extreme relevance of psychology in the workplace. I told a coworker about Amy Cuddy’s power posing technique, which enabled her to feel more confident before her marketing presentation.Additionally, I used my DiSC analysis to better understand how my behavior might be perceived by coworkers, and used that information to communicate more effectively with each member of my team.All of which is to say — psychology doesn’t just have a place in the liberal arts. It has a place in the workplace, as well.Psychology tactics can help you become a more effective leader, a happier employee, or a stronger public speaker.Simply put, learning about psychology can make you more successful.Which is why we’ve created this series.Here, we’re going to dive into a broad overview of what psychology can help you accomplish in the workplace. Additionally, we’ve linked resources at the bottom if you’re interested in reading individual posts from this series.Click here to download our free introductory ebook on marketing psychology. Leadership and psychology Incorporating Psychology At WorkAll departments in the workplace can benefit from learning and using psychology-based strategies, but certain departments benefit from different aspects of psychology. Let’s break down some of those differences now.Recruitment and psychologyYour HR and recruitment teams need to focus on psychology that suggests implicit biases may affect your hiring process. For instance, research has shown masculine language in a job description, including adjectives like “competitive” and “determined,” results in women often believing they won’t fit into the work environment. By ensuring gender-neutral language in your recruitment materials, you’re more likely to receive a higher number of equally qualified candidates from both men and women.Additionally, it’s critical your recruiters are aware of any unfair judgments they might make against candidates based upon stereotypes. Doris Weichselbaumer, a professor at Johannes Kepler University Linz, in Linz, Austria, conducted research that showed when a fictitious character wore a headscarf in her resume photo, she needed to send almost five times as many applicants as the woman without a headscarf, to receive the same number of callbacks for interviews.In general, psychology having to do with stereotypes, body language, implicit biases, language, tone, and emotion are most likely to improve your recruitment process, and help HR deal with mitigating internal conflict, as well. Science Behind Success Blog Posts Marketing Psychology Marketing and psychology Recruitment and psychology Originally published Mar 7, 2019 7:00:00 AM, updated March 07 2019 Topics: Leadership and psychology Anyone in a leadership position can benefit from incorporating psychology tactics in the workplace. At the most fundamental level, it’s critical as a leader that you’re able to develop empathy and a level of self-awareness that will allow you to engage and inspire your employees.Research has found three areas where it’s critical for senior leadership to be aligned — energy and development passion, future-focused leader skills, and views on company culture. It’s important your executive team take the time to look into various strategies other leadership teams have used to be successful — and, what derails leadership teams from performing optimally.In general, psychology having to do with motivation, empathy, people’s perceptions of challenges, and language are most likely to improve your ability to lead well. Marketing and psychology In 1975, researchers Worchel, Lee and Adewole conducted an experiment to evaluate how people would value cookies in two identical jars — as it turned out, the cookies from the two-cookie jar received ratings twice as high as the 10 cookie jar, even though the cookies were exactly the same.This study supports the notion of the scarcity principle. Ultimately, you might use scarcity principle to create a sense of urgency or demand around your products.In another study, three groups at a restaurant were compared:The first control group received mints, along with the check, with no mention of the mints. They tipped three percent.The second group received two mints by hand, separate from the check — for this group, the mints were explicitly pointed out. Their tips increased by about 14%.The third group received a few mints with the check — then, a few minutes later, the waiters came back with another set of mints and let the customers know they brought more ‘just in case’. Their tips increased by 23%.The study’s results support the notion of reciprocity — the more a group is given, the more they feel they need to return. For marketing, you might take advantage of reciprocity by providing potential customers with free sweatshirts or an exclusive ebook.In general, psychology having to do with consumer buying behavior, language, design, individual motivation, and basic wants and needs can help you become a better marketer. Personal development and psychology We’ve delved into this particular topic — how an individual employee can use psychology tactics to become a better worker — a lot in this series so far (including how to adopt a champion mindset, and how to adjust your body language to feel more powerful … check out the bottom posts to read more).How you might use psychology as a personal development tool is an endless topic — you can use psychology tactics to improve motivation and focus, become a more self-aware and empathetic employee, and ultimately perform better.Most of this series will focus on how you can use psychology for personal development, so if you need further proof, check out the series posts below.Science Behind Success Blog Posts1. The Key to Productivity Isn’t Your Mind, It’s Your BodyRead this if you’re interested in learning about embodied cognition, and how our bodies can affect our productivity levels. Hear from Josh Davis, Ph.D., the Director of Research and Lead Professor at the NeuroLeadership Institute, who wrote the international bestseller Two Awesome Hours: Science-Based Strategies to Harness Your Best Time and Get Your Most Important Work Done.2. How Job Crafting Can Make Your Job More MeaningfulRead this if you’re feeling uninspired or frustrated by your career, and need to learn how you can start enjoying your job more, today. Hear from Amy Wrzesniewski, a professor of organizational behavior at the Yale School of Management, who has conducted research on something she calls “Job crafting”.3. How to Use a Winner’s Mindset to Become a Champion in the WorkplaceRead this if you’ve always felt envious of champions like LeBron James or Taylor Swift, and if you’re curious about the core elements of a winner. Hear from Simon Hazeldine, bestselling author of The Inner Winner: Performance Psychology Tactics That Give You An Unfair Advantage and consultant in the areas of leadership, sales performance, and applied neuroscience, who offers advice on how employees can use performance psychology to perform better in their roles (or, seek new ones).4. Why Our Formula for Success Is All WrongRead this if you’re interested in learning about the principles behind positive psychology, how to become happier in the workplace, and why our society’s current formula for success is all wrong. Hear from Shawn Achor, who’s been featured on Oprah, who’s Ted Talk is second most watched of all time, and who’s research has been published in Harvard Business Review, The Journal of Personality and Social Psychology, and in his own books, including The Happiness Advantage.5. How Personality Can Determine Job PerformanceRead this if you’re interested in learning about personality as a predictor of job performance, and how you might apply personality assessments to create a stronger recruitment process. Hear from Dr. Greg Barnett, who has a PhD in Industrial/Organizational Psychology, has consulted almost half of the Fortune 500 companies in the personality assessment domain, and is now the Head of Science at the Predictive Index.
Drugstore chain Walgreen’s 4Q net income falls 55 per cent, adjusted results top expectations by News Staff Posted Sep 28, 2012 9:38 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Walgreen Co.’s fiscal fourth quarter net income tumbled 55 per cent compared to a year ago when the drugstore operator recorded a big business sale gain.Its adjusted earnings still trumped Wall Street expectations. But shares of the nation’s largest drugstore chain fell almost 2 per cent in premarket trading Friday.The Deerfield, Ill., company’s stock price had climbed more than 17 per cent in the quarter.Walgreen said Friday that it absorbed a bigger inventory-related charge in this year’s quarter and another charge due to a multi-billion dollar investment in European health and beauty retailer Alliance Boots. Walgreen also took another sales hit from a split with pharmacy benefits manager Express Scripts Holding Co. that shifted customers away from its stores.Overall, Walgreen earned $353 million, or 39 per share, in this year’s quarter. That compares to $792 million, or 87 cents per share, a year ago.Excluding one-time items like the charges, Walgreen earned 63 cents per share. That topped analyst expectations of 55 cents per share, according to FactSet.Revenue fell 5 per cent to $17.1 billion from $18 billion a year ago.Walgreen runs 7,930 drugstores in all 50 states, the District of Columbia, Puerto Rico and Guam, or more than its main competitors CVS Caremark Corp. and Rite Aid Corp.The company announced in June that it planned to branch out overseas with the Alliance Boots investment. That amounted to $4 billion in cash and more than 83 million shares for a 45 per cent ownership stake in the Swiss company, which runs the largest drugstore chain in the United Kingdom. Walgreen took a 9-cents-per-share charge in the quarter from that deal.The company also recorded a “last-in-first-out” inventory charge of 10 cents per share in this year’s quarter compared to 4 cents per share last year.LIFO is a method of accounting for inventory that assumes a company sells its newest inventory first. The company takes a credit or charge each quarter according to the anticipated inflation rate for the year.Last year’s quarter also included an after-tax gain of 30 cents per share, due to the pharmacy benefits management business sale.Pharmacy benefits managers, or PBMs, run prescription drug plans for employers, insurers and other clients.Walgreen and St. Louis-based Express Scripts, the nation’s largest PBM, had stopped doing business last year after months of talks failed to produce a new contract, and Walgreen’s sales have dropped for several months because of this. The companies have since agreed to a new contract, but it didn’t start until Sept. 15, or after the fiscal fourth quarter ended.Walgreen rivals CVS Caremark and Rite Aid have both claimed new customers due to this stand-off, and Walgreen said it took a hit of about 6 cents per share in the quarter due to the dispute.For the full fiscal year, Walgreen earned $2.13 billion, or $2.42 per share, on $71.63 billion in revenue.Walgreen shares fell 72 cents, or 2 per cent, to $35.88 in premarket trading.