Dressing like your boss can boost your career prospects.

I was stunned to witness a clone invasion while lunching in the City recently. 

A bunch of people on their work break came in, all wearing identical outfits!

Every single man wore a suit with a pale blue shirt. 

And every woman wore a pencil skirt, heels and trench mac. It was sartorial monotony gone mad.

So, with my fashion psychology hat on, I pondered.... what’s with the dressalikes?

Forget putting in the hours and hitting targets, new research suggests that dressing like your colleagues is the way to boost your career trajectory.

Debenhams surveyed 2,000 people on work place dressing recently.  Six in ten people (61%) said that dressing like their colleagues created a better team spirit and a higher level of productivity.

 

Debenhams designers, all dressed refreshingly different!

Perhaps this explains the office trend of 'work twins'. Could this be a key look for the new season?

• More than half of those surveyed said that they were heavily influenced by what their managers and colleagues wear to work.

And a third (33%) said their team deliberately bought the same clothes and wore them on the same day! Apparently ‘Checked shirt Fridays’ and ‘Blue Mondays” were popular with men, while female workers were fans of ‘Monochrome Mondays’ and ‘Floral Fridays’.

• Interestingly the majority of managers surveyed (68%) also said that staff with a similar style to them gained brownie points and were more on their radar. 

There's a psychological reason for this. Humans tend to be drawn to people who are like them, since difference can be perceived as threatening. People feel safer when they dress alike. They are signalling their need to belong to the group. A team that chooses the same style of dress for work is indicating their cohesiveness and could reflect a wider collaborative culture within the organisation or a high need for conformity. 

It’s well known that bosses often appoint and promote people who are like them. 

Boards are renowned for electing members that resemble existing ones. 

Clothes are a shorthand for who we are and what we are like, and research shows clothes  can also change the wearer’s personality.

So dressing like the boss may bring out a person’s leadership behaviours. It could even subconsciously influence others to see them as management material.  You could say that people who dress like their superiors have found a smart way to get noticed and accepted.

This story ran in the press last week and the Independent showed that copycat dressing extends beyond the workplace. Apparently Gareth Bale, when waiting for his dream move to Madrid, started dressing like his new teammate Cristiano Ronaldo in the run-up to the deal!

One of my Twitter followers, a guy, pointed out that he wouldn’t be dressing like a boss – as she’s female. Fair enough.

And when I did a Jack FM radio interview about this story the interviewer told me their boss is a keen cyclist. They were all thinking of coming to work in Lycra the following morning. I wonder what that did for their promotion chances?

Why grubby notes may slip through your fingers faster.

When I popped a few notes into a card for my niece this Christmas I made sure the notes were new and crisp, rather than crumpled grubby ones.

Why should that matter, I wondered.

Surely a tenner is still worth ten pounds, whether the note is freshly minted or has been through a hundred hands. Or is it? New research from the University of Guelph** shows that not all notes are created equal, and we’ll cherish new ones over grubby ones any time.

I wouldn’t give my niece a dirty note just as I wouldn’t give her a pair of pre-worn socks.

In five different studies, the Guelph researchers gave people old or new notes to spend (bet they didn’t have trouble finding participants for that study). People spent more and took more chances with older, worn money. Each time the same main reason emerged: people don’t like "dirty money."

Apparently it's the 'ick' factor: the idea of touching something that others have handled. People want to rid themselves of worn currency, fearing the contamination from others.

People value a crisp new note because they take pride in it, almost viewing it as a reflection of themselves. So, when spending around others, we are more likely to hand over our new-looking currency, even if we have to use four £5 notes rather than one crumpled £20 note. It's about social currency. If the transaction has no social value you'll get rid of your old notes. But when spending (or giving) to impress you want your notes to spell 'clean'.

I wouldn’t give my niece a dirty note just as I wouldn’t give her a pair of pre-worn socks. This challenges the long-held belief that we take money at face value - it’s actually subject to the same inferences and biases as the products it can buy.

**Fabrizio Di Muro and Theodore J. Noseworthy. Money Isn’t Everything, but It Helps If It Doesn’t Look Used: How the Physical Appearance of Money Influences Spending. Journal of Consumer Research, April 2013

Are your savings gathering more dust than interest?

Funny things, human beings. And never funnier (I mean in the strange sense, not ha ha) than in our dealings with money. If you doubt that, then test which side of your brain is managing your money

We search for the cheapest jar of coffee in the supermarket, tutting at the 30p price difference per jar, then hand over £2.45 for a single cup in Starbucks.

We leave our savings to fester away gathering more dust than interest, while at the same time carrying credit card debt.

Do you know what you;re saving for?
This very specific pot is by terramundi

Behavioural economists call this illogical behaviour mental accounting – or treating money differently depending on its source or label, something I've discussed in earlier blogs about using the left brain a bit more. 

An example is our attitude to money we’ve saved and money that’s dropped into our laps (I know, but bear with me on this one)... 

Would you blow your savings on a big birthday party extravaganza? Probably not, unless that was what you’d be saving for. It would seem too… reckless? Irresponsible? 

But what if you got an unexpected tax rebate and had a big birthday coming up? Woohoo, champagne cocktails all round!

I got to thinking about all this while working on a campaign for first direct, the online bank, to do with offset mortgages. 

Apparently nearly all mortgages in Australia are offset. They originated there and it's what most people go for.

Yet a mere 6% of UK mortgages are offset mortgages. This is probably because this concept feels a bit alien to us. After all, when mental accounting, we Brits have kept our borrowing and our savings very separate. It doesn’t even occur to us that we could use one to offset the other. Mentally they are two disconnected amounts of money.

  

Of course another reason we shun offset mortgages is because we don’t even know what they are.  

Offset mortgages simply allow any savings or current account balances to be offset against the mortgage, with interest only being payable on the difference between the two.

o   e.g. if a borrower has a £100,000 mortgage and £10,000 in savings, they will only pay interest on the difference (i.e. 90,000).

Dead easy really. You use your savings to work for you, but still hang on to them. 

This makes real logical sense for anyone who has both savings and a mortgage, and now more than ever before. Savings interest rates are so abysmally low at the moment, the loss of interest on them would be more than outweighed by the reduction in mortgage interest.

For more info check out the first direct website http://www.firstdirect.com