Imagine an employee informs you of his or her decision to leave the company. How does this make you feel? Regretful? Relieved?
This 10-second exercise was shared in a recent blog post by James Raybould, the Senior Director of Marketing at LinkedIn.
Raybould points out that the power of this simple regrettable talent departure test is that "you can quickly and easily perform it 1-by-1 across your team, resulting in a range of different outcomes." For instance, if the thought of someone leaving is particularly devastating, then you must ask yourself whether your company is investing enough in the career path of this star.
On the other hand, what if someone leaving your company is welcome news? What are you waiting for? Perhaps you have not already fired this person for the same reason they have not yet quit their job: the Sunk Cost Fallacy.
As Julia Galef, President of the Center for Applied Rationality, points out in the video below, we make decisions all the time that are not based on what outcome we think is going to be the best going forward. Instead we make decisions based on a desire not to see our past investments go to waste.
In the video below, derived from a lesson on Big Think Edge, the only forum on YouTube designed to help you get the skills you need to be successful in a rapidly changing world, Galef explains how the Sunk Cost Fallacy is responsible for keeping us in bad relationships - both personal and professional.
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