What is loss aversion, you ask? Well, let’s get right into it. We’ll start with this article from Harvard Business Review, which discusses both loss aversion and conformity. The latter term you probably understand at work — it’s why new ideas are stunningly rare. But as for “loss aversion,” well, let’s get into that.
Humans have a negativity bias, which is logical. Most of our thoughts in a given day are negative. But in this context, “negativity bias” means our fear of losing usually outstrips our potential thrill from winning.
More information: https://recruitingdaily.com/is-loss-aversion-killing-your-recruiting/