Building a Better Workplace: The Economics of Decency
During the last administration, in a particular period of rather nasty and heated political back and forth, I found myself thinking, “Whatever happened to decency?” The politics of nasty now has a solid footing.
Climbing the “corporate ladder,” in whatever form, has always carried an element of “going for myself,” deceit, and sabotage. I am thinking, “Will the nastiness in politics creep into office politics?”
Most conversations about “decency” tend to take a moralistic approach:
“Do unto others…”, “…honey attracts more than vinegar“, “…if you cannot say something nice…!”
But, from a business perspective, it seems pretty obvious that if you treat people decently, you get better results. It does with me.
There is a genuine economic benefit in treating your people with decency; it gives you a performance edge over the competition. Think about who you do business with. You probably mostly do business with people you like, and you like them because of the way they treat you.
How you are treated at the places with which you do business typically reflects how that business treats the people who work there.
As the COVID pandemic swept through this country, it had a shocking impact on people, how they thought about work, and everything else. I was not sure we would make it. Forty percent of our business involves travel. Fortunately, our recovery turned out less dire than I expected. But that abrupt change and struggle to do business began a long period of reflecting on work for us as well as a large portion of the population. The societal impact is still playing out.
Some companies took a slash-and-burn approach to employee reduction; some put themselves at risk and carried their employees. Which one would you prefer to work for? (we do appreciate for some that was the only solution)
I do not have hard evidence, but logic tells me the organizations that put their people first are performing at a higher level today than those who did not.
What does treating your people with decency mean?
Considering performance is a function of behavior, and in organizations, behavior is largely driven by environment or culture, then creating an environment in which people feel safe, both physically and to speak up, creates trust. Trust and safety create engagement, which is the basis of high performance. Surveys show that organizations that score high on engagement perform above the pack consistently! Once again, apply this to yourself and see if it rings true.
Studies of organizational behavior, notably Gallup, consistently rank three things that engage people at work and produce high-performance environments:
People want to feel that what they do is appreciated.
People want to feel they are listened to.
People want to see opportunities for development, growth, and advancement, further evidence you care.
Workhuman, a specialist in employee engagement, points to the single power of recognition and appreciation of the people who work with and for us.
In the workplace, these feelings of positivity are crucial for employee engagement and overall success. Gallup and Workhuman® research shows, when employee recognition hits the mark, employees are:
5x as likely to feel connected to their company culture
4x as likely to be engaged
And 44% more likely to be “thriving” in their life overall
On the flip side, half of the people who leave a job do so because of how they are managed or treated. This is a big part of why so many people are rethinking the nature of work. “Quiet quitting” is a manifestation of asking…
Why am I busting my butt for someone who does not appear to care about me?
Some organizational cultures are not faring well in this rethinking. And I will wager that the organizations that place a strong value on their people and demonstrate it are doing just fine. Mackey’s Conscious Capitalism movement says by as much as ten times.
We just celebrated the 20th anniversary of 911. During that horrific period in our history – as with other calamitous events like hurricanes, floods, and COVID – people showed up with care and assistance for those in need. That phenomenon is evidence of the essential decency within each of us, at the heart of us. After all, humans are pack animals; we thrive best in the community.
We say, “Organizations that focus on group success over individual success will score higher.” The material drive to “crush it” separates us from others; it also leaves a void, often a cold one. We get so much more accomplished when we appreciate others and are committed to their success as well as ours.
When your people feel as valuable to you as your customers, your business will prosper.
Currently, in this country, there is a reconciliation of how we think about and relate to our work and the people we work for. It is a good time for you to rethink your organization, the kind of company you want to be, who you want to work for, as well as what you have to offer them.
The Economics of Decency is a fresh mindset for a fresh beginning, as well as for a higher purpose in our lives. It takes a new mindset; behavior will follow. Here is your immediate payoff, being generous in our treatment of others takes being generous in our treatment of ourselves first. It is hard to appreciate others when you are banging on yourself. Stop it!
Cheers and blessings,
Craig
Fundamental of the Week ##20: APPRECIATE AND ACKNOWLEDGE
Regularly let people know you appreciate their qualities. Being acknowledged for a task well done is important; being acknowledged for a character quality is lasting.
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