Much of the day to day of compliance isn’t about understanding laws. It’s about influencing human behavior and steering people in the right direction.
In this podcast, Scott Young, Principal Advisor and Head of Private Sector at Behavior Insights Team, Americas shares that understanding how people make decisions can help compliance teams be more effective. To do so, he advocates for using behavioral science to gain a broader perspective for thinking about human behavior.
The field has shown, for example, that the classic economics model of rational thinking doesn’t always apply. Too often we operate in a semi-automatic mode, making decisions quickly, not really aware we are even making them.
So what do compliance teams do? Adopt what he describes as the EAST Framework.
Easy. Make sure the proper choice is the default choice.
Attractive. Make compliance fun and engaging. Embrace gamification and other ways to make compliance more attractive to people.
Social. Humans are social being and we are curious what others are doing. Thinking about tapping into the power of the group, such as leveraging social norms.
Timely. Having reminders and controls in place when they are timely is difficult but not impossible. Look for the right moments of intervention and the right, often quick, reminder of what is the right thing to do.
Listen in to learn more to learn how you put a behavioral approach to work for your compliance program.