New Member Promotion Ends 9/30 >>> Save $15 and get a SHRM tote!
Employers are offering creative perks to attract and retain today’s workers.
Plus all the HR resources you need to be more efficient and effective this fall!
Prepare for your exam with the guidance of a SHRM-certified instructor in Boston, Oct. 24-26.
Learn how to make the business case for diversity, October 25-27.
LA JOLLA, CALIF.— Entrepreneur and neuroscientist Paul J. Zak, Ph.D., thinks organizations should use the neuroscience behind the “cuddle hormone” oxytocin—the chemical foundation that helps build trust and closeness—to improve business performance.
Organizations with high levels of trust have happier, healthier employees, he said during his keynote address at the 2014 HRPS Global Conference. He pointed to online retailer Zappos.com as a prime example of an organization where trusting employees, and their subsequent empowerment, has been a significant factor in the company’s success. Employees there use their own judgment on the job, even if it means sending flowers to an unhappy customer or spending hours on a customer service call.
Zak, an economics professor and founding director of the Center for Neuroeconomic Studies at Claremont (Calif.) Graduate University, has developed a management tool—the Ofactor—to help organizations build trust among their employees and improve their bottom lines in the process. The Ofactor comprises eight trust-boosting management-policy categories that empower employees while at the same time holding them accountable for their decisions. The categories include:
Zak is the author of The Moral Molecule: The Source of Love and Prosperity (Dutton, 2012) and editor of Moral Markets: The Critical Role of values in the Economy (Princeton University Press, 2008).
Kathy Gurchiek is the associate editor at HR News.
You have successfully saved this page as a bookmark.
Please confirm that you want to proceed with deleting bookmark.
You have successfully removed bookmark.
Please log in as a SHRM member before saving bookmarks.
Your session has expired. Please log in again before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
Join SHRM's exclusive peer-to-peer social network
SHRM’s HR Vendor Directory contains over 3,200 companies