The profit of creating a human centered organization.August 20, 2018
Pick up any business publication these days and its quite likely you will see something on how companies are aiming to become more ‘human’. Surely, because we are realizing that it’s not only good for people, it’s also good for business. Numerous research papers attest to this result – human centeredness in organizations does generate benefits for both the employee and the business. An article published by BCG indicates that only 33% of U.S. employees are engaged with their work, yet those who work for purpose led organizations are 3x more likely to be happy. These statistics are hard to ignore considering the mountain of evidence showing employee engagement directly correlates to company performance.
Indeed, the workplace is changing. And there is a growing interest in individuals (of all generations) who are seeking meaning within the workplace – wanting the work they are doing to serve a higher purpose. This movement is creating challenges [or opportunities] for organizations to attract and retain top talent. The proposed solutions for retention used in the past such as; training programs, development plans, team work events, stock ownership plans, coaching, etc. are having little impact, and forcing leaders to search for new approaches.
Our research suggests the most impactful contributor to improved engagement and retention comes when the person expresses his or her purpose through the work they are doing. To that end, when a company hires a person, it acquires much more than knowledge or a set of skills. It acquires potential. And the greatest potential of the individual lies in discovering a purposeful life – fulfilling their desire and determination to contribute to meaningful work and to society. That’s how purpose results in performance. When employees [see: employee engagement] feel they are working towards a meaningful cause or purpose, their engagement and productivity rises.
Becoming a human-centered company and leading with purpose means:
* Understanding the origins of the company “why”
* Articulating purpose across all stakeholder groups
* Aligning individual purpose with company purpose
* Gaining commitment between pier groups
* Turning up the communication volume and frequency
* Ensuring the design has integrity so the impact is sustainable
In our increasingly competitive landscape, it’s no longer enough to deploy traditional approaches. More and more, companies are shifting their strategy and leading with purpose in order to foster passion, growth, and the overall wellbeing of their team. They are discovering that purpose in individuals soon becomes the company’s greatest asset. And within that lies the true source of innovation and creativity and the key to finding sustainable success for organizations.