What the Placebo Effect Teaches Us About Being a Great Manager

by | Oct 15, 2024

A wide body of experimentation and research suggests that what the mind believes to be true is a very powerful thing.

And according to best-selling author Bruce Kasanoff, the same forces at work in a drug validation study have a profound effect on a person’s career.

Researchers have demonstrated you don’t need more training to be qualified for a promotion. You don’t need caffeine to wake up. You don’t need a good night’s sleep to feel rested.

It just takes a credible researcher in a professional setting to tell you that you have what you need.

In essence, the placebo effect works because a patient believes something to be true based on the authority of the person in the white lab coat.

If you manage a real estate office or lead a team, this is a very important principle to understand.

Why? Because you’re the credible researcher in the professional setting.

This is not about tricking people.

It’s about demonstrating the power of belief and using your authority to assist those under your care.

It’s your job to understand what your agents believe about themselves and their propensity for success.

If you neglect this responsibility, your agents will be left to listen to the random voices who speak into their lives.

While some of these voices might be positive and helpful, most of them will be negative and counterproductive.

 

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The Attrition Variables

The Attrition Variables

While these attrition constants still have the greatest influence, there are some emerging attrition variables worth noting. People also tend to leave companies when: They feel like they’re not doing as well as others in their peer group outside the company. They feel like they’re not as far along as they should be at a certain point in life.

The Attrition Constants

The Attrition Constants

If you’re not focusing most of your retention effort on these issues, you’ll miss the mark. If you’re not focusing most of your recruiting effort on exploiting these weaknesses among your competitors, you’re missing the best opportunities.

The Persistence Mindset

The Persistence Mindset

A leader equipped with this mindset can have a profound effect on the life and career of each individual they engage. It works because an agent is getting a real-time glimpse of what it would be like to work on your team. But it only becomes believable when it is persistently applied over time.