Productivity Blog |
Next Practices to Act On Now (i4cp login required) Posted: 21 Jan 2022 02:21 AM PST The stated purpose of the Institute for Productivity (i4cp) is to discover and advance next practices in human capital. What's a next practice? Put simply, it's a practice that our research proves to have a strong positive correlation to bottom-line business impact, yet is not widely put into practice. Putting your company's purpose at the foundation of your relationships with your stakeholders is critical to long-term success. Employees need to understand and connect with your purpose; and when they do, they can be your staunchest advocates. Customers want to see and hear what you stand for as they increasingly look to do business with companies that share their values. And shareholders need to understand the guiding principle driving your vision and mission. Investors and CEOs such as Fink recognize that the strength of an organization's new corporate currency is a reflection of trust—do employees, prospective employees, and consumers trust in a company's stated purpose (i.e., why it does what it does)? Do they trust that its purpose will be supported by the firm's culture (i.e., what people experience based on behavior that's rewarded, condemned, or tolerated)? This trust or mistrust will dictate the firm's brands (i.e., its reputation as both a place to work and/or a purveyor of products and services). It's safe to say that given the competitive reality of the talent landscape and pressure on organizations to take stands (and make progress) on issues such as racial, social, and environmental concerns, it's never been more important to put into action two next practices called out in the i4cp research on Culture Renovation. Both practices enable organizations to monitor the sentiment of all stakeholders, understand and manage how the firm is perceived, and prioritize key actions that are identified. First, leveraging technology that provides always-on, data-driven feedback (via digital platforms, daily pulse surveys, mobile apps, kiosks, etc.); second, using natural language processing and artificial intelligence engines that interpret and analyze spoken and written sentiment for deeper qualitative insights. Lisa Shalett, former Goldman Sachs executive and co-founder of Extraordinary Women on Boards (a network of several hundred female directors who serve on public and private company boards), agrees and predicts that trust—as an asset and form of capital—needs strong consideration when evaluating a company's strength and resilience. Read her thoughts here. The start of any new year provides an obvious time for reflection. We encourage you to reflect on what your organization is doing (or could be doing) around the next practices we've revealed through our research that have come of age and are also reflected in the thought-leader predictions we've highlighted in this article. As you do, make sure to also read i4cp's 2022 Priorities & Predictions report to learn how leading global organizations across i4cp's extensive member network are addressing their priorities for the year ahead. In the meantime, be assured that i4cp will continue to strive to fulfill our purpose to discover and advance next practices in human capital, defining the practices that differentiate high-performance organizations now and into the future. |
You are subscribed to email updates from Productivity Blog. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States |
No comments:
Post a Comment