If leaders don’t consider employees in their growth strategies, then disengagement, burnout, and lack of innovation will persist.
April 03, 2024
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The strength of any organization depends on its people. Research has found a strong positive relationship between employee well-being and firm performance. When people feel healthy and engaged, their work performance improves, their relationships are stronger, and they’re better motivated to impact change. This is what’s at the heart of “human sustainability”— a concept introduced in Deloitte’s “2023 Global Human Capital Trends” report. It’s about creating value in people’s lives — from their physical and mental well-being to their career skills and overall sense of purpose. It starts with individuals, but ultimately has a ripple effect to the people they encounter and the organizations they’re part of. Research shows that a focus on human sustainability drives stronger business results. All organizations need a business growth strategy where people feel they’re prioritized. Before you launch your next growth initiative, make sure you’re not sabotaging your employees, and your company in turn. This article offers five questions to ask yourself as you’re setting your own growth strategy.
Sustainable growth can be elusive. Research has shown that only about 15% of the companies in the top growth quartile in 1985 were able to sustain their top-quartile performance for at least 30 years. While factors such as operating systems, financial health, and internal processes are all critical in determining whether growth can continue, studies show that of all the resources a company has, human capital is the most important. In other words, consistent and profitable growth is never easy, but it’s nearly impossible without “the quality, talent, and mindset of its people.”
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Attracting and Cultivating Talent. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Discover how to attract, hire, develop, and keep talented people who will grow and thrive throughout their employee journey.
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Copyright for syndicated content belongs to the linked Source : Harvard Business – https://hbr.org/2024/04/a-growth-at-all-costs-mindset-can-stall-your-company
