A will try to give B the minimum amount. This is because B is a reasonable choice to accept whatever A suggests. However, the experimental results were different. Most often, A offered to share the money equally five to five. In particular, when A presented the ratio of 8 to 2 or 9 to 1 to B, it was rejected at a rate of 67%.
This game is an experiment on the impact of fairness in the economic decision-making process. It can be seen that a person considers the fairness of transactions with the other party as important as maximizing their own profits.
Process is a big topic. MZ generation, who are in their 20s and 30s, value fairness enough to hear the word’fair generation’. Through the KB Financial Group Management Research Institute’s ‘Attach to Fairness and Stick to Fairness’ report, it introduces the meaning of fairness to the MZ generation and corporate countermeasures.
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The dictionary meaning of fairness is’fair and right’. Fairness contains the concepts of’equality’ and’equity’ in depth. While equality means that it is not one-sided, equity means a balance of caring for the weak. The report analyzed that due to the two-sided nature of equality and equity, conflicting opinions emerged according to the subject on the same social phenomenon. For example, for non-regular workers who work the same as regular workers, the conversion to regular workers is fair. On the other hand, it is not fair to convert non-regular workers to regular workers for job-ready students.
As the era of high growth is over, the MZ generation is experiencing fierce competition compared to the older generation in employment, etc. The hierarchy shift ladder collapsed. For the MZ generation, fairness is an urgent matter related to the protection of their own interests. In the ‘2020 New Year’s Public Opinion Survey’ by Korea Research,’fairness’ ranked first with 20.2% of the question that asked the most core values necessary for our society.
Generation MZ values a fair and transparent environment where individuals can be recognized as much as they have made efforts. In this environment, we strive to increase our self-worth by pursuing growth and development.
The report illuminated the transformation of the company. It is said that companies are trying to improve fairness and reliability both internally and externally, and are attempting a project using digital technology for this purpose.
KB Kookmin Bank is carrying out a’Deep Change’ project to innovate a transparent and fair HR system. In order to secure stability, objectivity, and fairness in personnel management of 14,000 employees in branch offices, an artificial intelligence (AI)-based HR system was introduced.
Hanwha Life Insurance has developed the’Ai Claims AI Insurance Claim Automatic Screening System’ in which AI proceeds with the decision to pay insurance claims instead of people. Through machine learning and reinforcement learning, this system makes rules related to insurance payment decisions by AI itself and determines payment, non-payment, and investigation.
The report evaluated that it is important for companies to establish a meticulous strategy so as not to go against the standards of fairness that customers feel. Until now, if we have focused our capabilities on developing better products and services, we can survive by considering customers and social influences. It is necessary to expand the range of customers not only to one-dimensional customers who use products and services, but also to internal employees, job seekers, and partners, and to have fair opportunities and empathy for each of them. In particular, he pointed out that the unfair goblin issue can be extended to boycott by stimulating consumers’ everyday emotions, expanding cohesion.
Corporate culture is also changing. It is to transparently institutionalize evaluation criteria and processes so that members of the organization do not doubt fairness and reorganize from vertical to horizontal. The report said, “The key is to establish a corporate culture that allows expression of opinions freely through two-way communication and recognizes the value of each individual regardless of position.”
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