The assessment an individual makes is not affected by his or her knowledge of past tasks.When estimating how long their own tasks will take, humans, tend to display optimism.The planning fallacy consists of three elements: Psychologists call this mindset “optimism bias.” While being optimistic has its benefits, such as an improved state of well-being, getting caught in the constant cycle of optimism bias can cause issues at work that impact productivity. That idea is called The Planning Fallacy - and no one is immune to it.įuture Nobel prize-winning psychologist Daniel Kahneman and colleague Amos Tversky introduced the concept in 1979, defining it as “the tendency to underestimate the amount of time needed to complete a future task, due in part to the reliance on overly optimistic performance scenarios.” Although research on the topic has advanced over the decades, a clear idea of why some people are always late is only just taking shape. But arriving late is a far more fundamental issue, which may be rooted in how the human mind is wired. Leaving early can point to several issues, up to and including a simple lack of respect for the organization and colleagues. It’s important for managers and business leaders to not only understand this distinction, but also to approach these circumstances from a psychological perspective. While arriving to work late and leaving early both cut into an employee’s workday - and therefore, their productivity - they are separate situations that stem from different causes. Yet if you assume showing up late and leaving early are intimately connected, you may be wrong. Always being late for work or always leaving early - even by a few minutes - can become a chronic issue that costs thousands of dollars a year, even in the case of entry-level employees. Having a punctual workforce is crucial to maximizing operational productivity in any industry.
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