Focus on These Five Ingredients To Transform a Transportation Business
“The Heart of Business” is a thought-provoking and insightful book that focuses on the importance of putting human values at the center of business. The author, Hubert Joly, former CEO of Best Buy and orchestrator of the company’s spectacular turnaround, argues that businesses can only succeed if they unleash the “human magic” that lies within their employees. He identifies five key ingredients for achieving this.
One: Connecting Dreams
Joly argues that a clear and meaningful purpose is essential for motivating employees and aligning them with the goals of the organization. Joly believes that Best Buy truly connected with each of its employees by figuring out what drove them; and then the real genius was to find a way to link their dreams with the company’s purpose. Businesses must have a purpose beyond simply making money, and this purpose should be communicated clearly to all employees.
This is consistent with the 2021 IBM CEO Study of 3,000 companies that found that the higher performing companies identified a sense of purpose and mission as critical to engaging employees at a rate 53% higher than underperformers. The CEOs in this study noted that “in today’s trust climate, where faith in institutions overall has been declining, having a purpose and mission is emerging as a competitive advantage. There’s a higher expectation about the role of business in society than a year ago.”
Two: Developing Human Connections
Trust is the foundation of all successful relationships, and it is essential for building a culture of collaboration and innovation within a business. Joly suggests that businesses can build trust by being transparent, communicating openly, and by treating employees with respect and dignity. Do each of your employees feel as if they are treated as unique individuals and do they treat fellow employees similarly?
Three: Fostering Autonomy
Autonomy, or the ability to control what you do, when you do it, and with whom, is one of the fundamental elements of what intrinsically motivates many humans and leads directly to better performance. However, Joly does note that delegation only works with employees who have sufficient ability, training, and motivation.
Four: Achieving Mastery
Employees’ growth and fulfillment are essential to performance and the role of leaders is to create an environment that allows for “mastery.” Becoming great at what one does is fundamentally satisfying and motivates us as human beings. Joly notes that creating an environment where “mastery” develops includes many initiatives such as: focusing on effort over results, coaching rather than training, treating learning as a lifelong journey, and making space for failure. Are you coaching your drivers and nondrivers to “master” their profession?
Five: Put the Wind at Your Back
Growth is an essential ingredient to unleash “human magic.” Growth creates space for promotions, productivity improvement, taking risks, and investing. Joly notes that business growth fosters a sense of endless possibilities for oneself, the company, and the communities in which they operate. Growth, aligned with a noble purpose, fuels inner drive, positive energy, and the desire to be the best you can be. If facing headwinds in your current market, move to put the wind at your back by thinking in terms of possibilities, turning challenges to your advantage, and keeping purpose front and center.
Unleashing the Human Magic
Joly suggests that leaders should consider these five ingredients and make an effort to incorporate them into a company’s strategic plan. A strong vision is the foundation of most successful companies. To further explore these suggestions and other ideas to increase profitability, contact Tim Almack, Certified Scaling Up Coach.
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