“It’s time for companies to focus less on maximizing shareholder value and more on becoming human again. Embracing your organization’s humanity will move your company from the mindless management of numbers to the creation of customer and employee value, which ultimately will make your shareholders — the real ones who care about long-term performance — happy, as well.” This is the HBR update that first caught my attention.
After 30 years of experience, I can confidently summarize that in order for any organization to succeed, it need to excel at the four pillars of People, Strategy, Execution & Cash. And if I had to prioritize anyone of those 4, I’d start with People.
90% of effective strategies on paper fail to deliver the expected results (Harvard Business Press). I’ve found that the majority of these failures were related to people not executing properly, but it was more of a people buy-in, alignment & motivation issue (leadership based) which was reflected through poor execution. Without people executing an agreed strategy to its full potential, I can guarantee you’ll either ineffectively burn through, or never secure, the cash your company desperately needs to survive, scale & thrive.
3 Keys to a more Human Company
The HBR update went on to summarize; “First, they should spend more time, energy, and resources to find out what their customers really want. Second, they need to do a better job of treating their employees as people who need to be nurtured, not costs that need to be kept in check. Third, they need a motivating purpose besides the achievement of financial goals.”
How are you performing in these 3 key areas?
1. Your employees are the most effective & efficient way to discovering what your customers really want. How are you inspiring & capturing that?
2. How are you nurturing your team, developing their strengths and compensating for their weaknesses? How are you adjusting their “nature” that’s counter productive to themselves as well as the results you want your organization to achieve?
3. Finally, how have you developed, communicated & lived a powerful purpose (company culture) that motivates your staff to take on “owner-accountability”?