5 Cognitive Biases That Shape Our Lives at Work and at Home

#17 - Have you ever heard of cognitive biases? They’re basically shortcuts our brains take to help us make quick decisions. Unfortunately, when we aren’t aware of them they can cause us to make poor decisions both at work and at home. For this episode, we explore the 5 most common cognitive biases Shane saw come up in coaching calls during 2022. We talk through what they are and how we can work to be more aware of them in the future.

If you have any questions about this episode, or would like to submit a topic idea for a future episode, please email us at podcast@culturesmithinc.com

To learn more about today’s topic, visit:

https://www.linkedin.com/in/shanewallaceculturesmith/ 

https://www.culturesmithinc.com/

Show Notes:

1. [01:00] Why are we talking about cognitive biases?
2. [03:00] Do we all use these biases?
3. [05:30] Where do cognitive biases come from?
4. [07:00] When do we process all of the information we take in daily?
5. [12:35] What is confirmation bias?
6. [17:40] How to challenge your confirmation bias. 
7. [19:55] Where do we see confirmation bias in the home?
8. [22:50] How we use confirmation bias in hiring. 
9. [28:55] What is the Dunning-Kruger effect?
10. [29:40] Coaching through overestimated goals. 
11. [32:00] The problem with cascading goals. 
12. [40:40] How the Dunning-Kruger effect shows up at home. 
13. [42:00] What is the sunk cost fallacy? And the bandwagon effect?
14. [48:00] How to create enough psychological safety that teams identify biases. 
15. [49:30] What is the planning fallacy?
16. [51:10] The danger with goal setting. 
17. [54:00] What’s coming next on the show. 

Mentioned in this Episode:

• Book a free session with CultureSmith: https://www.culturesmithinc.com/
• Shane Wallace on LinkedIn: https://www.linkedin.com/in/shanewallaceculturesmith/ 
• Morgan Berna on LinkedIn: https://www.linkedin.com/in/morgan-berna/