Profit with purpose is set to become the norm

Profit with purpose is set to become the norm  

It’s interesting that in recent years CEOs have gone from being symbols of aspiration to objects of intense scrutiny.  The same can be said for organisations that can no longer hide with social media empowering customers and colleagues and weakening the position of businesses. It’s been quite a shift that CEOs and their companies have had to consider and react to.

Trust has become the ultimate currency and as Patrick Lencioni states in his great book ‘Overcoming the Five Dysfunctions of a Team’; “No quality or characteristic is more important than trust.”

Millennials are driving this trend and 40% of those polled by the Deloitte Millennial Survey 2018 believe the goal of businesses should be to ‘improve society’.  Companies should be listening to this group as research shows that by 2020, millennials will make up 40% of all consumers, influencing about $40 billion in annual sales.

Profit with purpose is set to become the norm. A shift from a short-term business perspective to a longer-term perspective is evolving.  Leaders are understanding that the bigger picture counts. It’s pretty simple - if the environment fails, our society will fail and our businesses and economies will fail. Fact!  A bigger picture purpose also motivates colleagues within an organisation, I remember my time fondly at Bupa and all the colleagues I worked with there were very focused on playing their part to deliver the company’s purpose ‘Longer, healthier and happier lives’.

Interestingly, a new shorter and sharper 2018 UK Corporate Governance Code was launched last July designed to set higher standards of corporate governance in the UK to promote transparency and integrity in business and, at the same time, attract investment in the UK in the long-term, benefiting the economy and wider society.

Section 1 of the revised Code named Leadership and Purpose, emphasises the need for boards to determine and promote the culture of their company and to engage with shareholders and their wider stakeholders.

In the Culture and Boards at a glance report by Ernst & Young 2016, 92% have said that investing in culture has improved their financial performance. Culture starts with setting the right purpose, vision and values for an organisation.

The organisation must be looked at as a whole, not in parts.  If you’re to carry out a successful transformation (culture) change, there are a number of steps to embrace:

• Commitment to the change from on high

• Baseline measurement

• Executive team alignment

• Setting the purpose (WHY) and vision (WHAT) and aligning to the other ‘what’, the strategy

• Setting the values and behaviours which will achieve your purpose (HOW)

• Personal, structural, values, purpose, vision, strategy and change alignment

• Communication and engagement

• Embedding programme

• Measurement

• Reset

Leaders remain the drivers of culture change and are critical to its success.  Engagement and communications are essential to bring the purpose, vision, values and roadmap alive to colleagues and keeping them motivated by progress. The enablers and levers are the people processes, structures, incentives and procedures that must all reflect the espoused values, vision and purpose.

Leaders are the most critical in my mind and Richard Barrett states and I’m wholly with him on this “The culture of an organisation is a reflection of leadership consciousness. If you want the culture of your company to evolve, you must either change the leaders or the leaders must change.”

To be effective, any change management or cultural transformation process must focus on the whole system, not just part of it. The three main factors that need to be focused on if you want to build a values-driven organisation are the personal values of the people leaders, the structural alignment of the company and the well-being of colleagues (values and vision alignment).

Look out for my next blog that looks at the importance of measuring culture change and how using colleagues across the organisation to do this can be the most powerful approach.

Connect and Capitalise monthly magic

“Career and Entrepreneur Capitaliser”

• Meet Jane Anderson, someone I met over 9 years ago and who has become a phenomenal entrepreneur success. You’ll find her in My blog called Connecting to Capitalise – find your 15!  It’s based on a blog she sent me (do read hers too – the link is in my blog).  Both of them will give you real food for thought and a powerful action to take away with you. 

• A brilliant article I read from Stephanie St Claire is called the 11 Things I Wish I Knew When I Started My Business. Love the way she writes and the content is very good – I’m sure you entrepreneurs out there will feel some if not all of it resonates!  What can you take from it to help you on your journey?

• I loved this podcast 'I was told British people wouldn't eat dark chocolate': Meet the Mentors with Green & Black's Jo Fairley.  Great listen with some really sound business advice. 

• For those corporate chicks out there, I’m absolutely loving this website  https://corporette.com/ 

“Communications, Culture and
Performance Capitaliser”

• My blog called Strong Company Character and Culture: The Foundation of Accelerating Organisational Performance introduces you to three impressive leaders who empowered incredible cultures.  Any businesses looking to create a high performing culture should read this.

• I read an interesting article relating to communication called Your Brain On Stories - Stories are powerful because they more fully engage the brain.  Storytelling continues to be a brilliant way to engage, why wouldn’t they as most of us have been brought up listening to bedtime stories.  How can you story tell to hook the people you want to?

Don't forget if you're a leader, job seeker, entrepreneur or company looking for support, to perform at your best and stand out from the crowd, do take a look at the ‘working with you’ section on this website to see how I can help.

CONNECTING TO CAPITALISE – FIND YOUR 15!

I met Jane Anderson about eight years ago when I was in Dubai and was coaching and creating performance-enhancing programmes for the likes of M&S and Ikea. She was zipping across the world meeting up with people to pick their brains, grow her network and start to build her vision for her future.

Since then Jane has done phenomenally well.  She’s helped thousands of people, received numerous awards; she’s written six books and done so much more, but don’t take my word for it though, take a look at her website.

For me Jane typifies how having a clear vision backed up by sheer willpower and focus can be the winning formula.

I reached out to her recently and asked her what she would focus on if she was setting out and in the early stages of her entrepreneurial journey.  She sent me a blog that I think is so powerful and something to really consider if you’re serious about setting up your business and taking it to another level as quickly as you can.  Here’s a synopsis with my lense on it.

Find your 15!

I believe that one of the toughest things for entrepreneurs is to keep the faith and keep going. Most entrepreneurs set up their businesses as they feel there is a certain something that consistently pulls them in a certain direction and tugs at their heart strings. However, the entrepreneur journey is never straight forward and is like being at the fairground on a roller coaster ride it’s exhilarating and terrifying at the same time and a lot of the time the terrifying can be all-consuming! It’s very easy to give up when the going gets tough, particularly at the start of the journey, and the stats show that many entrepreneurs do.

Research shows that 50% of executives feel uncertain about their confidence in their abilities to address obstacles for business growth and cites that one of the biggest contributors is not having the right people around them.

It’s so important to be able to be your authentic self and unlock your full potential.  When you have the right people around you, willing you on, encouraging you every step of the way and blowing your trumpet, it helps to infuse your confidence and keep you focused and driven.

In Jane’s blog, she references Social anthropologist Robin Dunbar who has identified the metrics of leaders and tribes that have survived through time. From Indigenous tribes in Australia to tribes in the Amazon, he identified a metric to ensure that a tribe survives – and not only survives but thrives through the test of time.

Having created the first draft, I started to ponder and reflect about both blogs and although both primarily focused on the world of the entrepreneur, I believe using this same approach in the corporate world or in agency land, will also be effective. It doesn’t matter what world you’re inhabiting at present, pick the right 15 people for you to help champion and encourage you as you step through your working day and navigate complexities and challenges. It’s a simple tactic, but could bring real value to you.

That number is 15.

Who are the 15 people around you who are committed to your success? They’re the ones who have your best interest at heart and can help you make decisions when you might not be able to. They’re the ones you can depend on when you’re unsure or struggling and will help build your confidence and resolve along the way.

In 2019, who are your special 15 people going to be? When you are choosing them, think how they could support you and make you feel in the good times and the tough times?  And how are you going to connect and work with them so you stay on track and capitalise on every opportunity?

Do read Jane’s full blog Who’s in your Corner for 2019? It Takes a Tribe to Build Confidence as it’s fantastic and worth it.

I hope both blogs give you food for thought….

Joss

Strong company character and culture: the foundation of accelerating organisational performance

Companies have a huge capacity to capture our imagination when they are purposeful and bring value to customers, meaningful innovation and respect to employees.  Fuse these with a strong company character and culture and you have a phenomenal opportunity on which to  accelerate performance and build business success.

Two iconic leaders in this space passed away last year - Blake Nordstrom of Nordstrom.com a global fashion retailer and Herb Kelleher of Southwest Airlines. They should not be forgotten.  They understood the power of their people and a strong corporate culture.  In 2018, Norstrom topped Market Force’s Customer Loyalty Index amongst fashion retailers for the sixth consecutive year.  Southwest Airlines topped the JD Power’s Customer Satisfaction rankings for low-cost carriers.

These two companies both have a remarkable reputation for customer service which starts with their culture. Both cultures are based on trust, safety and respect.

Herb Kelleher himself perfectly illuminated this principle: 

“If the employees come first, then they’re happy…. A motivated employee treats the customer well. The customer is happy so they keep coming back, which pleases the shareholders. It’s not one of the enduring green mysteries of all time, it is just the way it works.”

Nordstrom focused on cultivating a sense of co-ownership and a culture of mutual respect. Blake Nordstrom himself described their approach:

“We want all employees to feel like it’s their name on the door and they are empowered to do whatever it takes to serve the customer on their terms. Our open door policy is connected to the idea that we have a stake in this together.  It’s up to each of us to play our role in delivering the best experience for the customer.”

I particularly like Blake Nordstrom’s co-ownership approach, it reminds me of the incredible turnaround of the England Rugby Union team under Clive Woodward, who put the following six crucial steps in place:

1.       Set the vision to inspire the team

2.       Design the experience that supports your goal

3.       Build the infrastructure of effective systems

4.       Shape the mindset by thinking different and in detail

5.       Implement new ideas and initiatives carefully and drop them if they don’t support your aims

6.       Coach and analyse to achieve world-class standards of measurable performance

 and underpinned them all with the cultivation of an elite team culture.

When I think of what Clive Woodward accomplished and how he went about it, he absolutely mirrored Blake Nordstrom’s co-ownership approach - he set out a clear vision and gave every player the chance to be part of moulding the desired culture and gave them every chance to thrive, succeed and achieve.

He involved the players and asked them for their ideas about playing for the elite England team and detailed these ever-evolving details in a book which became known as the Black Book. Over eight months, it changed and morphed and the end result was a blueprint for the elite professional sports experience that would support the overarching goal of winning the Rugby World Cup.

The book became the cornerstone of the elite culture, the guiding beacon.  It was etched in the minds of the players and for any new player into the team, it was invaluable. The players started to believe in the art of the possible and that they were an elite team, destined to World Cup status. 

Indeed the approach was focused beyond focused and in fact Woodward said after winning the World Cup that “If I started again in business or sport, the Black Book concept is the first thing I’d create with a new team”.

Setting solid foundations and embedding a desired culture is fundamentally important to the success of a business.  Discretionary work, commitment and loyalty can’t be bought.  Herb Kelleher put it well: “The core of our success. That’s the most difficult thing for a competitor to imitate. They can buy all the physical things. The things you can’t buy are dedication, devotion, loyalty—the feeling that you are participating in a crusade.”

Have you identified the right culture in your business that will lead you to success? Have you put in place an embedding programme so that the desired culture becomes etched in your company’s fabric and will stand the test of time?

We rise by lifting others

I love this quote and it really gives you food for thought. True leaders have this front and centre of their minds. They understand the strengths of their team members and use these strengths to help them thrive.

When a person is doing what they love and playing to their strengths, the work they produce is not only better but they’re happier and more productive.

Do you know the strengths of every member in your team and what they like to do?

CULTURE CHANGE…IT’S IMPORTANT, BUT MORE OF A MARATHON THAN A SPRINT!

Changing a culture in an organisation is a pretty hard thing to do and because of this, many companies put it at the bottom of their ‘to do’ list. However, a business owner or CEO would be advised to bring it to the fore, because when positive cultural forces align with strategic priorities, it can accelerate a company’s drive to gain the competitive edge.

Corporate cultures constantly slowly evolve…FACT!  You can’t change a culture overnight…..FACT! 

Behaviours are the most powerful aspect of real change because what people actually do is much more powerful than what they say or believe.

Once a company is clear about its strategic vision and the direction of travel has been defined, then it must look at the behaviours that will support achieving the vision. What are the cultural attributes that already exist and work well for the company. These should be acknowledged, celebrated and retained.  Then it’s important to analyse the themed behaviours that are seen as hindrance to delivering the vision and focus on shifting these.  Remember, a total culture make-over is unrealistic, could get your colleagues backs up and isn’t the right way forward.

Your leaders are key to driving the right culture and the change required. Role modelling and championing are critical if the journey to a new, desired culture is going to come to fruition.  Make sure your leaders understand their role as change agents; know the behaviours they should be role modelling and championing, are clear on what’s expected from them and can support, empower and enable their teams as the change journey develops and unfurls.

I read an article that resonated with me and covered many of the key principles that should be addressed as a company looks to evolve its culture. It’s definitely worth a read if culture is a hot topic in your organisation and something you’re interested in.

And finally don’t forget, when looking at driving a performance-driven culture for your company, it’s not a sprint, it’s a marathon – expect an evolution, not a revolution.

Nothing is impossible, the word itself says I'm possible

I particularly love this quote.  Not only am I a total Audrey Hepburn fan, but this is a quote that can potentially stop you in your tracks and negate any chatter that could be buzzing around your mind which is not best serving you.

Whether you’re an entrepreneur, in the corporate world, just starting off in your career or thinking of transitioning into something new, step inside of you, think about what art of the possible lies inside of you.  Ponder it, reflect on it, visualise it and keep moulding and evolving it in your mind’s eye.

Ask yourself….

• What makes me buzz?
• Who and what inspires me and makes my heart sing?
• What do I enjoy doing and what strengths can I call upon to bring about possibility?
• What is my art of the possible and how am I going to apply it to my world?

And when things are feeling particularly tough and you're struggling to wade through what appears to be thick treacle, what are your possibilities?  What can you do differently to find a way through?

And keep remembering

NOTHING IS IMPOSSIBLE, THE WORD ITSELF SAYS

I’M POSSIBLE….

RULES OF ENGAGEMENT

I was at a session recently at which the latest Gallup State of the Global Workplace 2017 statistics were discussed – it was pretty depressing hearing the numbers.

·        Only 11% of UK workers are fully engaged at work

·        68% of UK workers are not engaged

·        21% of workers are actively disengaged

These stats make worrying reading as they translate to 1 in 5 employees working against your business and only 1 in 11 working for it.

Leaders are fundamental to making a shift in team member’s feelings and actions.  I’ve been pondering the stats and have been reflecting on my 20+ years of experience in various countries, workplaces and sectors and have come up with my thoughts around the fundamental steps that need to be taken to shift colleague mindsets and motivate them to become real advocates of the company in which they work:

A clear and compelling vision (the why), strategy (the what) and values (the how) that are integrated into everything a company does.  There’s no point in having a vision, strategy and values that are articulated once a year at a leadership event or a town hall by the CEO or the Exec team.  It’s about consistency and recognition for achievements aligned to them.  It’s also about hard-wiring them into all people processes and initiatives, whilst also giving employees the freedom to make the vision, strategy and values their own. 

How do the vision and values translate into the recruitment approach, induction process, strategic objectives and priorities, performance management and reward and recognition to name but a few?  Only by consistent integration and joining the dots can a culture with the right behaviours and focus start to evolve and move the company in the right direction to realise its vision and strategic objectives.

Once the vision, strategy and values narrative have been shared with colleagues in the right way – and a lot of thought and consideration needs to be given to this – it’s important to carry out team sessions in which colleagues can figure out for themselves, supported by their leaders, how to make the vision meaningful to them and their role.  Colleagues come to work wanting to contribute, but sometimes along the way disillusion can set in.  Empowering colleagues to consider and then take control of the way they work and perform is important.  When colleagues can clearly see how they are personally contributing to the vision and strategic priorities, it's all powerful and incredibly motivating.  'Making it meaningful' team sessions are a must!

Role modelling from the top is self-explanatory but it’s worrying how often this isn’t done. If the top team aren’t going to ‘walk the talk’, why would they think that colleagues will take it and them seriously.

The top team should also stay in direct touch with different levels of the organisation. Hearing it from the horse's mouth is insightful and keeps the CEO and his team in the ‘real world’ and enables them to be balanced in their decision making.  I’ve often thought how challenging for CEOs not to be swayed by the colleagues they deal with on a day-to-day basis, who may be biased, out of touch or have political agendas.  Regular, relatively intimate sessions with colleagues from across the business at different levels can help the top team stay in tune with what's going on throughout the business.

The right leaders who champion the vision, strategy and values and have the right skillset, attitude and collaborative and inclusive approach, help bring their teams on a united journey with them.  Leaders who support rather than alienate are critical to organisational success.  I’ve talked to a lot of Senior Leaders who have said that they wish they’d upskilled the full Leader population sooner rather than later.  As we’re all aware from the stats, most employees leave an organisation because of their Line Manager – just think how many more talented colleagues you could retain by developing great Leaders with the right skills, strategic approach and emotional intelligence.

Communication is the cornerstone of an engaged workforce.  A culture of high engagement requires a consistent flow of communication from top to bottom and back up again.  Connecting colleagues to the organisation, leaders to colleagues and colleagues to each other, makes for a productive, informed and valued workforce. 

In a recent published State of the Sector report from Gatehouse, 56% cited poor communication skills in their Line Managers as the biggest barrier to their success.  It’s a Line Managers role to have meaningful conversations with their teams; provide context for corporate decision making; help colleagues to see how they play a part in delivering the bigger picture and inspiring, motivating and  recognising them for their actions.

There are more elements that contribute to having an engaged workforce, but these are the ones that stick out for me. The Burke-Litwin Model of organisational performance and change, cites 12 factors.  The research states that external factors, vision and strategy, leadership and culture must be central to achieving transformational change.  Only tweaking and restructuring the other 8 areas is not directional enough to bring about large-scale change.

Food for thought....