A while ago, I watched The Wolf of Wall Street. It was rather debauched
and with lots of foul language, sex, and drug use. Certainly not for the
faint-hearted. It is based on the true story of Jordan Belfort and tells his
rise to a wealthy stockbroker living the high life to his fall involving
crime, corruption and the federal government with him ending up in jail. The
basic method of his firm was a ‘pump and dump’ scam. To cover these dodgy
dealings, Belfort gave the firm a respectable name, Stratton Oakmont. An
article in Forbes called Jordan the "Wolf of Wall Street", which
resulted in hundreds of highly ambitious young financiers joining his company
and making a lot of money.
What struck me was this notion of purpose
at Stratton Oakmont. The financiers had a clear purpose in mind: “Sell and make
money”. Morals and values didn’t feature. They were not part of the company
culture. It was focused on making as much money as quickly as possible. And it
did. Because of this laser-like focus which was emphasized by Belfort each week
over the microphone as he motivated his people to sell, the company was hugely
successful and its traders became very wealthy as a result. Belfort’s staff were
in no doubt as to their role; they knew with absolute clarity the purpose of
the organization and Belfort reminded them of their focus again and again in his
engaging manner. Success was magnified and celebrated. Anyone who did not fit
the culture (lacked focus on the purpose) was promptly fired.
Now I am not putting forward the idea that
sex, drugs and corrupt behavior is the way to ensure company success. I am
saying that crystal clear clarity of purpose does result in success, however
success may be defined for your particular organization (in Belfort’s case it
was to make money by whatever means possible).
The role of purpose and communication
thereof is a critical key to success. Purpose answers the crucial ‘why’
question. Why do I get up in the morning? Why do I go to work? Does my work
matter? Is there a purpose in what I do? Why am I on earth? (Belfort’s people
knew the answer to this).
Organizations need to know their purpose
and have leaders to clearly define and help their people connect with it.
Gallup’s recent global study on the changing demands of the workplace highlight
employees’ shift from “my paycheck” to “my purpose”. The connection employees
have between their personal mission and the company has a lot to do with engagement
and performance.
Your people need to know why they are at
work. They need to understand what their role is in the greater scheme of
things i.e. WIIFM (what’s in it for me?). This motivates and inspires people. When
they pick up their bags at the end of their day, they know they have made a difference. No matter how
highly paid, or socially valued the job is, or how premium the brand, people
want meaning and purpose. As a leader, you have an important part to play in
defining company purpose so your people come to work with absolute clarity on
their role. Furthermore, it is worth investing in the time to encourage your
people to grapple with the notion of living life ‘on purpose’; that is being
aligned with their values, mission, and goals. This will enable them to play to
their strengths and make a more powerful contribution.
Leaders too, need to know this answer for
themselves and figure out what really matters to them. Living on purpose, in
accordance with your deep beliefs, results in inner happiness. There is a
sense of alignment in life. It helps you assess everything you do. Decisions
are made easier as purpose acts as a filter and a guide. Your ability to stay
on purpose will affect the fulfillment you feel in life.
David Novak, CEO, YUM Brands says this, “Why am I on earth? I’m on earth to
encourage others, lift lives, help create leaders, inspire people, recognize
others. When I’m spending time doing that – those are my best days.”
In an article that was written about him, Geoff Colvin, from Fortune wrote, “The deepest explanation of Novak’s success
may be that the way he wins – building the recognition culture, spreading the
Taking People With You program – is actually fulfilling his life’s purpose.”
Clayton M.
Christensen, the innovation and leadership thought leader, says the following
in his brilliant Harvard article, ‘How will you measure your life?’,
“For me having a clear purpose in my life has
been essential….The choice
and successful pursuit of a profession is but one tool for achieving your
purpose. But without a purpose, life can become hollow. I apply the tools of econometrics a few times a year, but I apply my
knowledge of the purpose of my life every day.”
While I wouldn’t recommend the movie to my
children, it reminded me of the power of purpose and left me with some
questions the manager could be asking:
·
Does my team understand the
mission and purpose of the organization?
·
What indicates that my team
lives out the purpose each day?
·
Am I as a manager/leader living
the purpose/mission of my organization?
·
Are priorities being set that emerge
from the mission/purpose of the organization?
Dr. Peter Dry, June 2019.
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