ECO 102: It's the Little Things That Matter

A couple of weeks ago I challenged you, as a Business Leader, to evaluate if your company was "In Demand" through the example of Supply & Demand that you learned in ECO 101. This week, I'm shamelessly poaching a short post that I saw on Daniel Pink's website that takes the discussion of DEMAND to an entirely new level.

Before I share, here's the definition of Microeconomics from Wikipedia:

In contrast to macroeconomics (which involves the "sum total of economic activity"), microeconomics is a branch of economics that studies how the individual parts of the economy, the household and the firms, make decisions to allocate limited resources.

Put more simply, Microeconomics is "the little things". From my experience, it's these little things that make all the difference with regards to both attracting and then retaining talent.

Here's what I found on Daniel's blog [it's a write in nomination from a reader from Louisville]:

“I know from your blog that you like signs, so I’m attaching the photo of a sign I saw at our local zoo this past weekend. It is not emotionally intelligent, but it certainly illustrates extreme extrinsic motivation. It seems this construction company feels that company swag is exactly the kind of thing that will motivate employees to stay safe. I can hear the employees now, ‘Well I was going to carelessly wave this nail gun around for a while, but I’ve got my eye on that windbreaker.' "

People make decisions to either (a) Run Away from Pain or (b) Run Towards Pleasure.

How are you allocating your limited resources to influence the decisions that people are making about whether to take a job or stay in that job on your team?

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