The singular thing that commands my immediate attention in discussions on business strategy is the pivotal role of “people.”
Simon Sinek, the popular American author, said recently, “If you do not understand people, then you do not understand business.”
Not too long ago, I was privileged to shake hands with representatives of staff members from Nigeria, Liberia and Niger Republic who were present at our organisation’s annual thanksgiving service with the 100 member “Mutual Benefits Choir” on the bandstand. I also shook hands with their family members who accompanied them to the party. Let me note before we continue, that no matter the advantages of smart technology, we must keep the “humanity” in today’s business ecosystem.
Latest Fortune 100, world business index on business organisations’ performance revealed that in 2023, over 56 percent of organisations with massive strength and advantages unbelievably shrunk or have been taken over because their stretched success curves did not happen.
Success curve is the grading system that “pushes” and measures organisations’ performance through ability, knowledge and experience.
In Nigeria (our country), challenges in the economic geography have heightened. Distinguishing features of the present situation include; hyperinflation and low-cost customers. We also have new challenges created by daily shifts and trends in demographics as well as the dwindling fortunes of the national currency.
Today, incremental and rapid innovation strategies are definitely not adequate and leaders must immediately change blind positivity to very realistic optimism. Jackie Reses, the always admired Silicon Valley legend, pointed out that using these two innovation strategies to drive skills will not adequately meet the needs of today’s very challenging markets. We must craft multiplier innovation and move ideas to create and capture highly beneficial and affordable values. No historic skills or repertoire can create the required growth.
The workforce, according to Jackie Reses, must deconstruct problems and examine challenges with new ideas and required agility as well as growth mindset. We can only move forward with an intense level of curiosity and adjust in order to do it better, rather than following the prescriptive ways with which we were doing things before.
Transformational innovation must become the all-embracing culture of organisations. The workforce must be entrepreneurial and very creative. Organisations must appropriately build, reconfigure and realign competencies.
The GROW-model is my recommendation. GROW is an acronym: G is for goal. Organisations must, in this new reality, question the various levels of goals, challenge and thereafter, align to enhance the goals. R is for reality (current reality or state of the market place). We must have clarity on the challenges of the present situation along with new opportunities. O stands for obstacles or options. That is, internal and external opportunities opening-up on daily basis for exploration. Organisations must explore the various options on the platforms of capabilities and resources (the key of course, is the human capital). W presents the will of leaders of organisations and associates to take action steps with desirable accountability. There must be total commitment to these actions and success of goals.
This model is an inside-out guide which guarantees measurable increase in employee engagement and performance. It is multifaceted and therefore covers employee engagement, accountability as well as leadership development. Transformational coaching, which tunes-it-up, covers corporate training, talent management and employee development.
In this new arrangement, employee life cycle takes on new perspectives and now fosters and supports the culture of growth through adaptable and multiplier innovation. The model creates a cycle of employee engagement that enables associates to give and achieve their best. Organisations must always guarantee an environment that enables value-adding achievements through communication and clear direction, learning and development as well as sense of emotional and intellectual wellbeing. Employees must be supported, motivated and inspired to deliver their best. We should give them recognition, appreciation and respect.
When an organisation strategically establishes and builds the culture of growth, employees learn, develop and are successful as well as engaged (with commitment) in what they do. The organisation also manages business risks and uncertainty while maximising gains and at the same time, minimising losses. Occasional mistakes are not hidden. Associates are not judged, blamed or shamed because of these mistakes. They are encouraged not to be afraid of making mistakes or covering them up. Accountability is not about blaming or shaming individual employees. We should learn from these mistakes.
It is also important that organisations take learnings from successes in order to replicate and improve processes regularly. A recent study revealed that just the usual praise is not the way to go because it does not tell colleagues (for the purpose of beneficial knowledge and learning), what we did well. The study emphasised that “we must fully understand contingencies and interdependencies that mattered for successes and what conditions were needed to be in place for the organisation to achieve what it did.” Let us build on successes and ensure that they are not occasional sparks or glitters.
Let me conclude by stating an obvious fact that employees are dynamic human beings and not static creatures. Leaders must always utilise every opportunity to grow, expand and deepen their contributions to the growth and prosperity of organisations. Leaders must strive to manage and checkmate conflicts and workplace politics that they do not stand in the way of employees in delivering their very best. Let me caution that when organisation’s fail to treat associates with great sensitivity and understanding, we will inadvertently place weights and obstacles on the path of great ideas, insights and feedbacks.
Engaged employees are the most valuable asset in business and committed engagement delivers the positive cycle that enables and guarantees commitment, loyalty as well as achievements of exceptional results.