Hello again! Welcome to another language video of English for Finance and Economics. What if I told you that being treated with respect at work was something employees found important in their jobs? Or that trust as senior management made employees work harder. Would you believe me? Would you wonder why I would say that, or where I may have gotten my information? How does it change things when I say, according to a research report by the Society for Human Resource Management conducted in 2014, respectful treatment of all employees at all levels was rated as very important, by 72% of employees. In second place, for job satisfaction at 64%, it's trust between employees and senior management. Do you want to listen to me more now? Are these facts issues that may need to be evaluated in your company? Are your employees respected? Is there trust from senior management? What can be improved? Once I gave you facts and statistics about employee satisfaction, I established credibility. This use of logic through numbers is a very popular form of persuasion. We've heard the quote, numbers don't lie. Carrol D Wright was a prominent statistician employed by the US government in 1889. He said, the old saying is that figures, as in numbers, will not lie, but a new saying is, liars will figure. It is our duty to prevent the liar from figuring, in other words, to prevent him from perverting the truth in the interest of some theory he wishes to establish. We need to use numbers and facts to convince, persuade, and motivate, but be cautious as we make sure we are honest in the information we present. Even if things aren't going perfectly in our businesses, we also need to make sure our sources are reliable, accurate and trustworthy. Not to shock anyone, but not all facts found on the internet are true. Here are a few suggestions when determining the credibility of a source. Check to make sure the author is well known in their field. Those types of respected authors will also have cited sources in their articles and research that is also accurate. Check the date of the source or facts, and make sure you understand the authors intentions. Were they neutral in presenting the information, or somewhat biased? Remember, persuasion is a powerful tool that can affect us just as much as those we are trying to persuade. One persuasive tool that uses logics and keeps employees honest is by using an AFE or authorization for expenditures. These documents show proposed expenses for a particular project, and authorizes an individual or group to spend a certain amount of money for that project. AFEs are persuasive in that they use details, mostly numbers, and facts to justify why money needs to be spent on a particular program or project. They give cost estimates, and reasons why a price may be the way it is. These forms show thought and research as these estimates are analyzed, even down to items that aren't predictable, like for repairs or extra supplies. Typically, these AFE forms will be computer generated and automatically do the math for you. But as we learned about accuracy and integrity, we can't assume that computers are always right. We saw Catherine and Elizabeth discuss this form. Before buying the new machine, Elizabeth had to prove or persuade her senior leaders that her numbers were just, honest, and exact. After persuading them through logic, they could choose whether or not to approve the funding and the budget. However, because she doesn't have expertise in crunching numbers and financial studies, she delegated that part of the project to Catherine, who does. What are the takeaways from this lesson? In order to persuade with logic through facts, you must establish credibility, or use credible sources. Be honest in your numbers and facts. Double check your own research if necessary. Though are authorization for expenditures are a process that happens before the money is spent, it's important that estimates and information are as accurate as possible. We made it. I hope you found this video in English for Business and Finance useful. See you soon.
