State you have an associate who is having a hard time to complete a job at work. You may offer them some pointers and techniques based upon your own experience with similar projects. And it's affordable to anticipate those ideas may be useful to your coworker. However what if it turned out that the act of giving that recommendations might offer a quantifiable benefit to you too?

In this episode of Choiceology with Katy Milkman (), we look at how providing advice can benefit the provider– as much or perhaps more than the person receiving the advice.

We begin the episode with Mike Mangini () Mike is a talented drummer, best understood in the world of progressive rock. He has visited and recorded with various artists, including Steve Vai and Extreme. He likewise spent many years teaching drums independently and at the Berklee College of Music. It was in the process of teaching that he developed a system to codify his technique to playing drums. That system helped Mike browse an intense audition for among the most significant progressive rock bands on the planet.

From the heady world of arena rock, we transfer to more useful examples of the power of giving suggestions. You'll hear several individuals offering suggestions on a variety of challenges– and after that hear them recognize the effectiveness of their own suggestions in real time.

Next, Katy talks to both Lauren Eskreis-Winkler and Angela Duckworth about the science behind advice offering. Lauren had the preliminary insight into this phenomenon. She and Angela, her doctoral advisor, ran a large-scale field experiment, along with Katy and Dena M. Gromet. The study demonstrates the measurable power of the advice-giving result.

Lauren Eskreis-Winkler () is a postdoctoral fellow at the Wharton School () at the University of Pennsylvania. You can read her paper on the advice-giving result here ().

Angela Duckworth () is the Christopher H. Browne Distinguished Teacher of Psychology at the University of Pennsylvania () and the author of Grit: The Power of Passion and Perseverance ().

Choiceology is an original podcast from Charles Schwab (). For more on the series, go to schwab.com/podcast ().

If you take pleasure in the program, please leave a ⭐ ⭐ ⭐ ⭐ ⭐ ranking or review on Apple Podcasts. ().

Important Disclosures:

All expressions of viewpoint undergo change without notice in reaction to moving market conditions.

The comments, views, and opinions expressed in the presentation are those of the speakers and do not always represent the views of Charles Schwab.

Information included herein from third-party providers is obtained from what are considered trustworthy sources. Nevertheless, its accuracy, completeness or dependability can not be guaranteed.

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