Have you wondered why we work 40 hour work weeks?
As recent as early 1900’s, industrial era worked clocked in close to 100 hours.
What drove the change in standards?
I was listening to Rory Sutherland‘s brilliant interview in the podcast – Diary of the CEO, where he called out this quirky fact
In 1926, Henry Ford made a groundbreaking change by being one of the first significant companies to change his work policy to 40-hour weeks
With five working days and no change in wages.
“He realised that if companies were to make a profit, customers needed to buy things;
And in order to want to go shopping, customers needed to relax and enjoy themselves.
For this, they needed more time off work.’
If you notice closely, Rory suggests you understand not just what people want but why.
For example, we don’t necessarily ‘want cabs to arrive faster’ (it is easy to consider building a predictive model to solution for it) but what we want is the predictability – knowing when our cab will arrive
A feature that ride hailing apps today provide.
Brilliant episode to understand the magic behind human psychology that drives businesses
************************************************************
#reviewswithranjani #Psychology
#Technology | #Books | #BeingBetter