On Tuesday 25th September, 30 young professionals from St Albans, Hertfordshire gathered at the impressive offices of AON where they heard from Hannah Lawson and Nitesh Patel on the topic of ‘Behavioural Science in Business’.

The young professionals were shown a series of images and videos set to test their unconscious biases. This highlighted a number of thoughts automatically forming in their minds without them realising how they got there. Hannah and Nitesh then went on to summarise different biases such as ‘status quo and social proofing’. Offering different scenarios to the young professionals, everyone was left questioning how and why they make decisions on a day to day basis.

Aon said “Everyday a significant number of impressions and thoughts will arise in our minds automatically without us knowing, or even wondering, how they got there. A lot of these will affect the subsequent decisions we make. While the confidence we have in such impressions and thoughts is often justified, the resulting biases can sometimes make us confident even when we are wrong. In the session today we hopefully increased the young professional’s awareness of some of the more common unconscious biases we all experience.

An example of our unconscious biases at work are:

Which of these lines are longer?

They are actually equal in length but the framing forces us to draw an incorrect conclusion.

Or looking at the two scenarios below:

  • Scenario 1: Get £900 for sure or 90% chance to win £1,000
  • Scenario 2: Lose £900 for sure or 90% chance to lose £1,000

They have the same absolute expectation and so any logical person would make the same choice under either scenario. However people tend to be risk averse when faced with gains (so would take the £900) but risk seeking when faced with losses (so would choose to roll the dice on the £1,000).”

To find out more about the young professionals events please contact us.