Did you know that about 26% of the change initiatives are failing? Most probably you did. And this statistic is quite sobering. And you might very well be deep in a transformative initiative and things take too long, and the impacted people are not sharing the same enthusiasm as you. Yes, this is normal.
The good news is, there are clear ways how to improve your odds to over 70%! How? With a clear and structured change management practice in your organisation. Key success factors are:
Curious to learn more about a structured and hands-on approach to change management? We have launched a program for Certified Associates in Change Management.
A few weeks back, I shared some views how you can let go of control. Why would you want to do that? Because the people at the front know how to create value to our customers; and they need to be able act fast without barriers - control from the top. Have a look at the previous post: Letting Go of Control - Made Easy?
Once you let yourself guide by others, how do you get up along the U?
That's a valid question I received after sharing the last post. Here are some thoughts around the right side of the U. Before we climb up, let me share more about the left side and the valley. With the steps on the left side, you can imagine that you are going down a hill. In the moment you think that you let yourself be guided by others, you realise that hill turns into a cliff and you need to climb further down. And most probably it feels like you are walking in a fog; there is no view of the other side of the valley. It feels like going through a tunnel or crossing the sea. I like this analogy because in problem solving you often want to immerse yourself in the current situation like an anthropologist and thoughts around possible solutions should be far away - early solution ideas might only lead you into a wrong direction.
Only when you really let go and you are in that opaque place, the magic can happen. Ok, not real magic, though it might feel like this. When we are drifting (not consciously seeking anything) then suddenly things will get clear, the new journey will appear right there. This might sound very esoteric but it is not. People who practice design thinking might be able to share similar experiences when they get inspired by empathising with the people they are creating value for.
Long prologue... So now, how does that journey up the hill look like?
Reflecting on the entire journey along the (theory) U, I think the right side might be more familiar. The big part of letting go of control happens on the left. Letting go of judgment, ego and power are essential for this new leadership. It starts with difficulties on the path down (left), and it continuous inspired on the path up (right). It does feel like a freedom once we don't need to control anymore.
How did you apply these steps into your leadership role?
About three years ago, I started to run design thinking workshops and brought the topic closer to people in various companies and functions. As a change management practitioner, I immediately realised the attraction and the synergies between the two stream of thoughts.
Let's look at two of the traditional barriers to innovation and leadership: lack of speed in decision-making and lack of creativity. Both barriers are behavioural. While these are typical barriers to innovation, they are also holding up most change initiatives. And design thinking is a method to address both barriers in simple ways.
Speed - in design thinking we encourage to try things out; the focus is on learning by making mistakes. When we present prototypes early to the customer, we get early feedback on how we can get closer to create value for them. This early feedback facilitates decision-making. Design thinking also promotes to spend a significant amount on identifying the right problem; and still, this time is well invested and allows the team to create the right value for customers in a short period of time.
Creativity - here, design thinking brings many activities that allow people to use their inert creativity. The immersion into the customer's environment creates exposure to gain and pain points that trigger inspiration and critical thinking. During all my workshops we are spending time to prototype - to make the solution ideas tangible. With this activity, we are activating the creative brain and further facilitates the discover of new ideas and solutions. And finally, when we converge and digest the information by using gallery walks and journey maps, we extract the essence of the challenge which triggers further inspiration.
In addition to these two barriers, here are four points how I see design thinking is supporting your change initiatives:
How did you adopt design thinking for your change project?
Source: Why Design Thinking Works, Harvard Business Review, October 2018
During my career I conducted many workshops to develop capabilities. And, I also participated in excellent training workshops. Of extremely high quality. And all of them had one thing in common: the change that occurs to our own daily work after the workshops is minimal.
Since a few years, I also had the honour to coach - guiding people to discover themselves and to apply new routines to their work lives. This is the change we want to see in people. Though, coaching is highly intensive and simply not scalable.
Last year, I started to work with a few teams here in Singapore to develop solutions that are closer to what their customers want. We started with design thinking training sessions which - no surprise - resulted in no change in their daily work. Then we started to play around with different interventions - as a team, as individuals. Slowly we can observe that new habits are forming and the mindsets are shifting.
Training versus Coaching? With this short article, I want to suggest to take a hybrid approach and combine both practices. The aim is to develop new leadership capabilities and cultivate new routines that enable teams and individuals to create lasting success. We can join the benefits of both and add other elements to it. Here is what I suggest:
How do you see that we can combine different practices? What are your experiences with this hybrid approach?
The uncertain times we are living in made one thing clear: we need to innovate! In order to stay successful in our businesses we need to find new ways to create value to our customers, our operations face new challenges we need to address, and our employees require environments that keep them healthy, nimble and engaged. Small improvements will not suffice - in many areas we need to go back to the drawing board.
How can I, as a leader, deal with this accelerated necessity for change? How am I able to control innovation across all corners of our organisation? Let me pose another question: why do I need to control innovation from the centre? Successful, lasting solution might be better identified and implemented at the front - they will be achieved faster and create more value. Then the question is: how can I enable and facilitate innovation at the front?
Many people talk about innovation and how to achieve this. Though, there is one trait that is often overlooked and I see it as a essential foundation for innovation and a successful business: Critical Thinking - the objective analysis and evaluation of an issue in order to form a judgement. This will allow the organisation to identify where we can create value, to deeper understand the challenges, and to make better decision to explore the future.
Bruce Eckfeldt, in this Inc article Want to Improve Your Leadership Skills? Focus on Critical Thinking, introduces five levers to drive critical thinking. In my words:
These five elements give us leaders ideas on the mindsets and skills we want to develop in our people. Based on critical thinking, we will be able to delegate control to make decision, to experiment, to find solutions. Are you courageous enough?
Image credit: Getty Images
We all heard about it - Agile Transformation! I have seen the term used in two situations. Either the organisation wants to introduce Agile Development and that is indeed a major transformation. Or, the organisation wants to drive change (innovation, market expansion, increased competition, etc.) and they decided to become more agile. I suggest to converge to the latter.
So, how can a change management approach bring more agility in leadership, to the teams and to the success of your operations? Here are a few pointers from my practice, inspired as well from two articles linked below.
Mentioned many times, the North Star is key to make people excited about the change to come, gives them meaning. And it is also the anchor and the imagination for what we want to achieve. Without this, agility turns into chaos.
The people in the frontlines have access to the best knowledge and information on how to bring success with change. Delegating control to the people that can run the show, makes the teams nimble and they can act faster. People on the top might - often involuntary - act as bottlenecks.
Facilitating lasting success means, these teams need to be self-sufficient and self-organising. The team needs the right environment and the right skills to get there. And, for sure, they need to be aware that they are acting in a larger ecosystem, all striving for the same north star.
Achieving the north start mostly includes creating value for our customers. The teams should create structured routines that allow them to discover a clear view on how this value looks like and what the customers appreciate most.
At the core of each team is learning - this bring the individual, the team and the entire ecosystem forward. Experimentation enables continuous learning; and the leaders facilitate and contribute in this journey.
Planning for the next 12 to 18 months often leads to situation where a team is stuck in their course and unable to take the necessary changes to adapt to a new environment. Therefore, I suggest to create an imagination of the future state and of the path to get there. This provides direction and keeps the flexibility. Based on this, the team can plan what they want to achieve and learn now - typically in a horizon of three months.
Lastely, the agile teams work best in an environment that cultivates meaning and trust; as leaders we can create a platform for success and this requires a place where we can have open conversations, feel safe and find our work fulfilling.
In my eyes, agility is not about processes and organisational structures. Change management practices have shown how we can engage with a new leadership style that is universal on all levels of the organisation; a style that is inspiring and enabling people to be successful. This is how we can stay adaptive, nimble and jump ahead to new opportunities.
Where do you see the the link between change management and agility? How do you put these into practice?
An Agile Approach to Change Management, Harvard Business Review
Unleashing the power of small, independent teams, McKinsey Quarterly
Since about a decade, we talked about a business environment that is constantly changing, complex and exposing our company to disruption. The year 2020 showed us, how real this can be for any business and for our entire life. Over the last five years, I have developed a framework which I think allows us, our teams, and our company to create a platform for lasting success. A conversation yesterday motivated me to share this here again.
The volatile business environment we are in, requires an important revelation: if we continue doing the same thing, we will be getting the same results. So, we need to try new things. Then, the main question is: who should define these experiments? Who should be in control of bringing our business forward? As a change management practitioner, I suggest two dimensions which are highly important to our leadership.
Direction - How often do we define a new strategy and after some time realise that our business is still running in the same way? In my experience, the bottleneck is not the understanding of what the strategy is; rather, there is a lack of understanding and persistence on how this new strategy is impacting everybody's daily work. Here we need alignment and transparency to define and implement the collective dream.
Acceleration - In a next step, there are more barriers for success: who is coming up with the crazy ideas? Only big bets will make us move forward over time. And, implementing big bets seems to be a daunting endeavour like climbing the Mount Everest. Here we need experimentation, focus, safe working environment, cross-silo collaboration, etc in order to innovate and to excel.
How are you able to trigger the change in your company culture to achieve this platform for lasting success? Please reach out to me to exchange thoughts.
For the people that know me, I like to promote the concept of People Excellence - driving operational excellence through our people.
This recent article in the Bangkok Post by Arinya Talerngsri also emphasises the people in the transformation work. We are in an age where many thought leaders are talking about how we can robotise our workforce and create fantastic efficiencies. Arinya shares my conviction that lasting success will come by cultivating a workforce of engaged critical thinkers.
Here my key points I took out of this article:
This article also shows that we have great thought leaders in Southeast Asia. Based on the cultural backgrounds within this diverse region, we are able to build on a strong habits that focus on building relationships and putting people at the centre. This is a fantastic opportunity - also for the rest of the world.
What is your story in shifting your focus from technology to people?
Source: Driving digital transformation through people transformation
"How do I motivate my staff?" This is a common question and an exciting one for me. This week I started to bring it in relation with resistance to change. I think these two topics are two sides of the same coin.
How do I motivate? How do I remove the resistance to change? The answer in my eyes is "simple" and from the start, I admit it is not easy to actually do it - let's get later to this.
If you impose change on people, they will resist. This is basically wired in our brains. When you provide the space to people to define their own change, they are excited about the things that will come. They are motivated to start their change journey. This means, true motivation and change comes from within.
As a leader, what do I need to do? Something many people don't feel comfortable to do: let go of control. In their respective scope, allow teams to define what they want to achieve and how they want to get there. This means give them the necessary decision-making power and resources. This freedom is exciting and unleashes a huge potential.
OK, I get that... How do I get started?
Letting go of control is scary. So, let's start with something small, an area where risk is small and where your teams and you as a leader can try out, how the delegation of control works in your environment. In this case study, you can find an example in a factory. Another example is giving ownership of the office coffee area. Recently, I am also suggesting to give your people control over where and when they work. Why not?
One last question: how did you feel when you took responsibility over a certain area?
Agility is often mentioned to be the accelerator for performance. And yes, when introduced in the right way, agile working methods can deliver solutions that are closer to what customers need within a shorter time frame. At the same time, I observe that these benefits are not so easily reached. One crucial component is how we are planning with agility.
Oh, are we still planning in agile? Yes, we do - and in a smarter way. Let me walk you through some steps which are essential for success. In my eyes and also outlined in this McKinsey article: Planning in an Agile Organisation.
In a first step, we as a team want to get guidance, a direction where to head to. And with team here, I am referring to any size; this can be a regional leadership team, a functional department, a project team, a smaller operational team, etc. And this guidance is typically expressed in strategic priorities, or as I like to call it meaningful purpose statements or a collective dream. Important for these priorities is that we limit ourselves to five strategic priorities at a time - more will be distracting and the focus will be lost.
These meaningful purpose statements are then translated into clear and specific goals for the different teams. And this translation is an effort conducted with the entire team. This allows that the insights from all team members are considered, facilitates the adoption of the goals, and significantly improves motivation and drive.
The strategic priorities combined with the specific team goals act then as a clear foundation to make decisions on the team level. The team should be in control how they achieve their goals; this allows them to become independent and self-sufficient. For sure, they will still consider the larger ecosystem they are embedded in. This delegation of control further stimulates the drive and engagement of the team.
Alignment is created with the direction. The second important element is transparency. This we will achieve with monthly and quarterly reviews which intend to allocate critical resources based on the achievements, priorities and the goals.
As a leader in an agile environment, we are left to focus on two critical activities: guide the teams and develop a clear direction; facilitate experimentation and allocate the right resources. This results in a very different, self-organised path of planning which results in more velocity and value creation.
How are you planning in your teams today?
Many companies are in the process to define the annual performance goals and in this context, we often talk about accountability. Harvard Business Review was recently sharing some interesting insights, how these goals are set; for example, 21% of the employees feel that they can control their goals and 69% of employees feel that they don't perform up to their potential. How are you creating motivation and ownership during these goal-setting conversations?
At Hive17 Consulting, we are conducting Vision-to-Action programs that translate your strategy into changes in people's daily work. In this program, we create an environment where the teams, the employees, are defining their objectives themselves. As a result, we have observed that these teams are taking more ownership of the outcome, are collaborating closer together, and the delivery quality improved.
What are the key points that drive engagement during the goal setting period?
How do you feel about giving away control?
Source: How to Actually Encourage Employee Accountability
This year, I am celebrating my 10 year anniversary as a practitioner in the field of change management. I started to get curious about the topic while I was deep in implementing knowledge management programs at a multinational company. We were constantly presenting new ways of working to our colleagues and it was natural to get closer to the levers of facilitating change.
Admittedly, Change Management is not the most popular term and yes, I am not using it a lot either. Still in my heart I know, I found my calling in this profession. On the one hand, I am always eager to look at performance and improvements. On the other hand, I like to connect with people and I am curious about how they are interacting with each other. Both topics are very tightly interlinked. New systems, processes and organisations only unfold their potential when they are embraced by the people involved in them. And, we can only design great systems, processes and organisations, when we deeply understand the human actors in it.
The way I look at the change management is holistic. This means, I suggest that we go beyond the simple implementation of (for example) a new software tool; a better way is to look at the journey and the larger ecosystem where this software is supposed to add value. In this sense, my focus is on how can I enable people to embrace and grow with the constant change that is happening around them. How can we bring more antifragility to the people and to the organisation. in my eyes, this has a lot to do with culture and leadership. How can we create the right space between people that they can grow together; and as a leader, how can I provide a platform that gives people passion and ownership.
How did I get started? In the beginning I read a lot of different books and articles about the topic and followed a course or two. And about four years ago, I also started with my certification. I can really recommend to get in touch with the global Association for Change Management Professionals (ACMP); you can find great, like-minded people and lots of resources. They have developed a great professional standard and I like their certification path. Though, most important is to be exposed and learn on the job - consciously applying what you think is right, try new things and develop your own practice.
I want to thank the people that strongly supported me on this path: San-Daleen, Jerome, Sandra, Michael, Björn and many others!
We are excited to provide you with the findings of our follow-up study about how leaders in Asia and Europe are working through the pandemic. If you remember, in July we published the first report: Teams Come First - New Business Models Later. Here comes part two...
The second study has crystallized some key questions for the way forward: How do you provide a sense of stability in an uncertain environment? How can you focus on Employee Motivation and Customer Value? And, how can you keep nurturing solid relationships in your ecosystem?
The results also show that people - and that’s employees as well as customers and business partners - are taking center stage. Still, many people indicate that they lack direction and vision.
Complete report: hive17.com/antifragilityreport2021
Now is a great moment to evolve and develop your teams and your business. How do these questions and topics resonate with you?
In the last post, I shared arguments to shift from command & control to guide & facilitate leadership. What does that actually mean? What are the new leadership routines? In the context of positive leadership, I am promoting two key activities for an effective leaders: establish a collective dream and actively let go.
Let me start with one question: as a leader, are you controlling your entire ship? And is that actually something you want to achieve? How can you ensure that all relevant information is coming to your desk? What are you levers to motivate your teams to follow your vision? What is the behavioural impact of taking central control? And, do you want to take this burden on yourself? This approach of running your organisation might lead to bottlenecks, people not performing to their potential, and slow-down of the organisation and the people. So, how can I engage in the two key activities and give control away?
The start is to create a collective dream (guide); a dream because we want to evoke passion; collective because the dream is created and lived by everyone in the organisation. One important result of this collective dream is that everyone is looking at lasting success, and this is based on a balance between delivering positive outcome and developing the organisation and the people to become better. Here some suggestions:
In one of my recent coaching engagements we talked about this collective dream in the context of a people initiative. While we discussed the objectives and the motivation around this initiative, it became apparent that the goals of the people responsible for the implementation where not aligned with the business intention. We identified a potential resistance and started to work on the alignment of the objectives.
Once this meaningful direction is established, the second activity is to actively let go (facilitate). With this we start to increase decision-making power at the front (where the information is). Here the qualities of curiosity, appreciation and learning are so important. As a leader, you start to appreciate the capabilities and progress people are making; you are curious to discover new approaches to solve problems, and you are experiencing that you can still learn a lot. Key activities in while letting go are:
Coming back to the coaching engagement above, we identified that the regional expert acted as a central node of expertise. This created bottlenecks and hindered learning across the regional group. We then established regular sessions where we facilitated conversations between the local experts that they can share their practices and ask for direct support from peers.
This example also shows that we are creating leaders on all levels. And in my experience, providing guidance via a collective dream is often well understood. Though, many leaders are still afraid to let go.
What hinders you to let go and give control to your people?
Command and control leadership style is outdated - we heard this many times. What makes it outdated? What are the alternatives? How can we establish the right routines for a new leadership approach? There are many debates around this topic and I feel I want to share my belief and opinion.
Control - let's start with this as many of us have experienced it in form of micro-management. Frequent status update meetings ask if the projects are on the right track. Senior managers churn out roadmaps and give milestones on what needs to be achieved by when. An army of analysts provide reports on a number of data points. All this machinery is in my eyes blocking ownership; there seems to be no leeway for experimentation and leveraging experience.
In my experience, people at the front know best where to improve and where we can reduce friction. Though, they need an environment where they can connect with diverse experts and experiment with different options. The objective here is to learn, make quick decisions and continuously improve and excel. As a leader, we need to be the facilitator for this environment, removing bottlenecks, allocating resources, and connecting the right people. And, this requires a big picture direction...
Command - the second dimension is more nuanced. Managers might give commands, telling people what to do and giving them very little room to explore their own methods and defining their own objectives. Again, this is close to micro-management and the lack of freedom where to go is stifling creativity and a growth mindset. At the same time, a commander's responsibility is to give people a purpose and direction, and keeping the teams aligned with a bigger purpose. The big question here: are we creating followers or leaders?
In my experience, I have seen often a gap between a nice mission statement and how people perceive this is impacting their daily work. People need a high-level direction that allows them to define their daily priorities. And, everyone should be involved in defining this high-level direction to add their 'local' expertise and for better adoption. As a leader, we need to be the guide to jointly develop a collective dream. And then, coach the teams to translate this dream into a meaningful direction for themselves.
Based on these arguments, I propose to switch from command & control to guide & facilitate leadership. In short, I prefer to call it positive leadership which focuses on appreciation, coaching, curiosity and learning.
Where do you see the pitfalls of command & control?
Image credit: Konrad Frost, Volvo Ocean Race
A special year is coming to an end and I want to thank all my families, friends, network and followers for your encouragement, conversations and learning opportunities. Despite all the difficult moments, I think I have been lucky and grateful of all the things that have happened - maybe it is by choice?
The New Year is coming and if we can predict one thing, it will be different from the past. Will it be better? I think, this depends on what we make out of it, right? For myself and for all the great people around me, I wish that we are getting ready for what will come. First, I think we will need curiosity to discover the opportunities; we want to understand our passion that gives us a big picture direction. And then, let's start with small steps towards this collective dream, and building together with our network of people.
Wish you a fantastic start of the New Year!
In the last few weeks we all observed a sentiment of fatigue. Many of us feel exhausted of what the year 2020 brought to us and are craving for the festive break. Why did this happen?
From my perspective, I can see two things that have contributed to this feeling of wanting to pause. One is external; the continuous uncertainty of what is coming next. The widespread consequence of the reaction to the pandemic has created big shifts on the economy, how we work and how we interact with our family and friends. The second element is more internal; due to the environment, many of us reacted with activism directed at keeping the lights on, stemming the impressions and impact from the ecosystem, and simply putting the head down and keep running. In this situation many of us stopped pausing and reflecting on the bigger picture. Budgeting and forecasting were not done properly because the felt meaningless. Any long term plan was avoided because we were in survival mode.
Today, when I look back at the last 12 months, I can see many accomplishments and great opportunities for the future. We have learned about many new possibilities which we can leverage. For example, focusing on the essence when forecasting, improving the way we discover the needs of our customers, crating flexibility how we are working, strengthening the work environment with a focus on the value of our people, and connecting to friends in a more meaningful way.
Last month, McKinsey published an article - Overcoming pandemic fatigue: How to reenergize organizations for the long run - that outlines five key points how we can go "beyond grit and perseverance". Which was for me a reminder of the relevance of the Wheel of Antifragility we at Hive17 Consulting have developed.
We believe that these four pillars establish an environment and a culture that enables short-term benefits that evolve into lasting success.
How are you looking forward into the New Year?
Keeping traditions... Huntsman's technical campus in Shanghai celebrated again an Innovation Day last week. This is the third iteration since I met the local leadership team in 2015 and a great routine to keep.
In my recent experience, many companies and teams are pushing for daily delivery without pause and reflecting are we running in the right direction and are we using the right gear. And I am observing that only after a few months in this mode, teams are getting exhausted.
The Innovation Day in Shanghai is reversing this trend and the leadership team understands the wider purpose and benefits of such an event:
Thank you Enshan, Renyi and Stella to keep this tradition alive!
Last month I asked the question if we are busy or productive. Today, I want to share how this works in practice based on 'Thriving under Pressure' workshops we conducted. At the start, it is important to note that we are not trying to reduce the pressure - here is why.
The first question we asked ourselves, where does pressure come from? The answers clearly indicated that the pressure is created mostly by externalities: competing priorities, work-life balance, various stakeholders, etc. This means, we can't simply take away that pressure. Though, there are means to reduce the stress that this is causing.
One interesting source of pressure shows a different light on the challenge: 'high expectation from myself'. And yes, that is the one part of the pressure we can influence. But how?
In the previous post we talked about: know your priorities, big rocks first, experiment and reflect & energise. How did we apply these in the context of our daily work? Here some thoughts and suggestions:
How are they linked to antifragility? Hive17 Consulting works with four pillars that are spinning the wheel of antifragility: purpose, customer value and experimentation are defining how we are setting our priorities and executing based on them. The fourth pillar is the foundation: the relationship bonds are crucial to maintain positivity and a healthy way to collaborate in environment of crisis.
How do you apply these elements to stay productive?
We heard this a lot - especially in the current pandemic: stress is causing our brain to react with flight, freeze, faint or fight. And this reaction is blocking our creativity and problem-solving capability. Stress can come from so many directions: uncertainty, feeling threatened, lack of job security, work overload, lack of control, feeling insecure, feeling lost...
Neuroscience tells us that a positive emotional state restores this creative thinking which allows us to solve problems and accelerate the much needed innovation. As a leader, we can switch the work environment from one of fear & challenges, to one where we can discover great opportunities. This will also strengthen trust and self-esteem.
Here is one surprising source for this positive environment. According to this IMD article is humour! Feena May describes in The incredible lightness of being: use humor to inspire your team during a crisis "humour as a leader's capacity, ability and willingness to share themselves in service of the situation" with lightness of spirit, kindness and presence.
As so often, the intent is important. We want to use humour in order to enlarge and open the space between people; take them out of their shells and caves and bring them together with purpose and fun. Humour is not the same as jokes; these are often making fun of a certain group of people, which is counter-productive. The silent clown can be an inspiration; the apparently simple acts of holding space, creating connection and encouraging exchange. And often, a simple smile and light-hearted comment by a leader can create positivity which removes the stress and uncertainty.
Feena mentions three reflection points:
There are many ingredients to accelerate excellence, drive productivity and strengthen innovation. One of them is humour which creates fun and collaborative environment based on positive leadership.
The last two days I joined the 4th Annual Open Innovation Virtual Summit as a participant and as a speaker. It is great to from large companies (ABB, Givaudan, Orange, Roche, etc.) how they are facilitating and rewarding ideas and innovation within their organisation. A common thread is that it is vital to put the customer at the centre of the innovation process and work together with the external ecosystem. This was creatively underlined by Gregory Poletta's introduction of the Da Vinci Mindset - think impossible!
People Excellence was at the centre of my speech where I highlighted that a new, positive leadership style is a fundamental driver for innovation and therefore vital for lasting success in today's business environment. Empower and facilitate creativity & experiment based on great relationships and a meaningful purpose.
Big thank you to the organiser Milana Dreo, Vonlanten Group, and to the two hosts Jordi Rafols and Andy Wynn. With great curiosity, I am looking forward to the next summit!
May 2020! I clearly remember how we were looking at the later part of the year: a 'new normal' might have st in, the worst of the pandemic might be over and maybe we can travel. We were pretty wrong at the time. What seemed strange in May 2020 has often become part of our everyday life today.
At that time, we started our first survey and now, it is time for a follow-up. We want to send you the second round of our previous survey - the same questions - and we are curious to see what has changed. Please answer as spontaneously as possible. It should take you less than three minutes to complete.
What happens with your answers? They are valuable to understand the urgent - and not so urgent - needs of leaders. We intend to use this data to continuously track the leadership sentiment in organizations like yours - and help you to strengthen your leadership muscle.
About Hive 17 and morethentic:
Hive 17 and morethentic are dedicated to enable individuals, teams and organizations to drive change and growth while respecting everyone’s contribution to success. With offices in Europe and in Asia we help clients to connect cultures and to be successful in new environments.
This survey is created in collaboration with Actavia, your Singapore-based sparring partner to successfully run your business in the region.
For many leaders it is obvious to focus on long-term benefits; for our shareholders, customers, for our employees and many other stakeholders. We will be able to survive, grow and we are focusing on sustainability and lasting success.
Still, this McKinsey study shows that the majority of executives feel under pressure to redirect resources from strategic initiatives in order to meet short-term financial goals. This is impacting the sustainability of the business. The company will reduce its readiness for the future and the motivation of the people are jeopardised. The article formulates five behaviours that brings back the leadership focus to long-term objectives.
1) Invest in risky, large-scale initiatives which help the company to navigate into a position of growth. These initiatives can be about digitalisation, product innovation, talent development, exploring new markets.
2) Design a portfolio of strategic initiatives that in its sum are delivering positive value. These initiatives focus on how to maximise the value creation with existing assets; this can be in the areas of operational excellence.
3) Continuously allocate resources and people to strategic revenue generators. This also means to regularly exit old businesses; this allows you to focus on growing forward.
4) Take a broad range of stakeholders into consideration (beyond shareholders). Generate meaningful value for customers, employees, business partners, the society and the environment. This will also secure stakeholder value.
5) Ensure that short-term gains are not jeopardising your long-term success. Navigate through a crisis that will make the company stronger.
How are you navigating around the temptation to focus on short-term financial goals?
Neuroscience tells us that we are more creative and productive when we are working in a positive emotional state. As a leaders, this means we are responsible to create an environment which excites people to work in - establish a feeling of enjoyment and pride. Psychological Safety plays a big part in creating this environment. This is not a hygiene topic; rather it will allow people to deliver more value.
Two interesting articles are referenced in an article from 'CNBC Make It': Google determines psychological safety as the most important quality for success; Gallup reports that increased psychological safety leads to 12% increase in productivity. This is a worthwhile endeavour. And what does it take?
Which routines do you establish as a leader to create an appreciative working environment?
Source: ‘Psychological safety’ at work improves productivity–here are 4 ways to get it, according to a Harvard expert
Often, I get involved in discussions about how to motivate people; simply because I believe that in order to achieve excellence, we need people that are excited about what we want to achieve in our company. In this context, it is difficult to avoid the topic of financial targets. In my eyes, financial targets are a contributor to dissatisfaction when handled wrong. When handled right on the other hand, they don't motivate. Why is that?
Here, I want to share some of my thoughts about financial targets; and I am happy to hear your comments as well.
What are alternatives targets then? In a discussion with my friend Daniel Benes, he has suggested three key factors to focus on:
Which key performance indicators create success in your teams?
Tim is a change practitioner in the area of innovation and excellence. He is working with teams to accelerate innovation, collaboration and agility.