Working Paper: NBER ID: w16944
Authors: Ximena Cadena; Antoinette Schoar; Alexandra Cristea; Hber M. Delgadomedrano
Abstract: In this paper we test whether procrastination and planning problems affect the performance, compensation and work satisfaction among employees. We conducted a randomized controlled experiment with a bank in Colombia to change the frequency and intensity with which employees received reminders about goal achievements. We also provided small in-kind prizes every week to remind employees of their goal achievement. Loan officers in the treatment group showed strong improvements in their goal achievements, better work load distribution, and higher monthly compensation (not including the value of the small prizes). The intervention also improved worker satisfaction and reduced stress levels, without affecting the quality of the loan officers' portfolios. We show that including branch managers (the supervisors of the loan officers) in the intervention was central in achieving these results, since they played a key role in reinforcing the reminders and helping employees with planning problems.
Keywords: procrastination; workplace; employee performance; behavioral economics; incentives
JEL Codes: D03; G21; J22; J33; L2
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Madrugador program (C88) | loan officers' performance (goal achievement) (G21) |
| Madrugador program (C88) | loan officer compensation (J33) |
| Madrugador program (C88) | loan officers' performance (goal achievement) (G21) |
| Madrugador program (C88) | loan officers' performance (goal achievement) (G21) |
| Madrugador program (C88) | loan officer compensation (J33) |
| Madrugador program (C88) | job satisfaction (J28) |
| Madrugador program (C88) | stress levels (I31) |