On your bike! How to attract and retain more innovative, bright and engaged people to our organization?

I remember observing a large group of 9^th grade boys ready to head out on a cycle. They were fit, strong and ready to ride. You could feel the energy and excitement. This was way better than sitting in a classroom. However, 30 minutes later they were still standing beside their bikes being lectured to by a teacher on road safety. Things got a bit restless as you can imagine. After 45 minutes the lecture was still going on and the boys were ready to riot. Sure the safety aspect was important, but so too was getting the kids on bikes and letting them go

One of our roles as a leader is to get the most out of our people. To let them jump on their bikes and fly! Yet, traditionally we position our business to attract customers (and to retain them of course). Maybe we do a few things on the fringes that may be attractive to good employees. However, our people are our most important asset. When I am charged with improving or team or organization, I fundamentally look at the way people are treated and how engaged they are. An engaged employee base matters, says Gallup. Employees who are more engaged “achieve earnings-per-share growth that is more than four times that of their competitors.” Furthermore, higher engagement accounts for better retention, higher profitability, better health and greater levels of innovation and creativity. Teams function better as trust is higher.

When nearly 30% of the workforce is in transition, how do you position your business to attract and retain the best people beyond benefits, perks and ping pong tables that have been shown to have limited long term effects?

1.     Grow your managers. Gallup research shows that “70% of the variance in team engagement is explained by the quality of the manager or team leader”. I have seen that an intentional, middle management leadership program is key and is one of the first things I look to implement in organizations that want to improve. Train managers to have frequent conversations with employees that are regarded as meaningful and supportive, and employees are more engaged and less likely to leave. When managers talk about what matters to employees around hopes and dreams, employees stay. And, when managers have strengths-based conversations, employees work more effectively and stay.

2.     As a manager, say ‘yes, and’ more often. The worst thing you can do as a manager is to hire bright people and then restrict them. Leaders need to develop an ‘art of allowing’. This is a key part of being an authentic leader where you honestly allow people the opportunity to grow and thrive. There is an element of risk taking and letting go but it is well worth it. You build self worth, self confidence and most importantly trust. These are the foundations for more willingness to innovate and build the organization.

3.     Allow people to work on projects that may not be completely aligned with their position description. That’s okay! It may have to be “under the radar”, if the company culture is not quite ready for such an approach. I saw huge benefits of this tactic when I led professional and organizational learning at a global financial services firm. I saw how bright, creative minds love to work on multiple projects and have a keen sense of growing their portfolio. Locking these people into their position description restricts their growth, limits trust, and stifles what they could potentially be offering to the business. And we saw some exceptional outcomes. (Beware, these people tend to leave if they feel stifled).

4.     In some industries, encourage your people to speak at conferences, publish white papers and educate your market. Many of the brightest love to learn and to be seen as experts in their industry. In most organizations I have worked for this has been a stretch for most employees. However, once they get a taste of the joy of sharing their expertise, the personal and organizational growth is rapid. Remember, in the post-knowledge era, an organization that does not learn, dwindles away.

We need to attract people who can cycle fast, creatively and intelligently, and then we need to let them get on their bikes and pedal to their heart’s content!

By Dr. Peter Dry, 2020.

Source: https://news.gallup.com/poll/241649/employee-engagement-rise.aspx

Get on purpose: What are the benefits of knowing your purpose?

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.