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The notion ofbehavioural economics in companies The concept of 'incentive' became popular following the works of Richard Thaler, winner of the 2017 Nobel Prize in Economics. Situated at the crossroads of economics and psychology, this approach finds its application in different contexts in order to initiate a change in behaviour without imposing constraints or sanctions. Fifty uses this approach on its training platform designed to support workers in a real increase in competence.
Behavioural economics is an innovative approach that breaks with the traditional concept of rationalism. It postulates that individuals do not always make calculated economic decisions, but rather act intuitively according to 'biases'.
These factors influence the will of each individual, and can be used to guide their decision without constraining them. For example, framing bias refers to the context in which a product or message is presented.
For example, the amount of food consumed depends partly on the size of the plate, as people tend to finish the plate. In the canteen, children tend to favour the most accessible food. A better presentation of the salad would encourage its consumption.
With the Nudge approach, thebehavioural economics in business With the Nudge approach, the aim is to take these biases into account to help implement these good resolutions. Employees gradually adopt the behaviour they desire without feeling any particular constraint.
Behavioural economics applied to in-company training can thus prove particularly interesting, as it integrates the psychology of learners into the skills acquisition process. This makes it possible to limit or even eliminate behaviours that are resistant to change, since each training action is studied in such a way as to be adopted spontaneously.
Because of its effectiveness, this approach has been used by many policy makers and public authorities in different countries. In particular, it can be used to encourage users of public services to adopt a more responsible attitude without considering sanctions, in order to minimise maintenance or health costs.
The Fifty digital platform is presented as an On-the-Job Training Action (AFEST). Intended for employees in companies, it allows for a real increase in skills and accompanies employees in a very concrete career development. The use ofbehavioural economics in companies The use of AFEST aims to develop both the technical and human skills of each individual.
Fifty meets a need felt by many workers. They remain dissatisfied with in-company training, which is too theoretical. The Fifty platform combines the Nudge approach, behavioural economics and artificial intelligence to set up an effective course.
The method consists of micro-actions to be performed on a daily basis. These recommendations are individualised by the AI to create a personalised pathway. Fifty The AI recommends the right action to be taken at the right time to optimise the effectiveness of the training and of the whole process. The results are quantifiable, as each change is measured in real time at the personal and organisational level. In addition, the change in behaviour and the 'spontaneous' acquisition of human skills are sustained over time, thus contributing to the career development of the participants.