Conscious Capitalism & Empowering Employees May 17, Bob Scoville Co-Founder & Director, Conscious Capitalism Boston. Conscious Capitalism

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1 Conscious Capitalism & Empowering Employees May 17, 2018 Bob Scoville Co-Founder & Director, Conscious Capitalism Boston Conscious Capitalism

2 How I came to be here today It all started with a dream...

3 A dream of being locked in a bank vault.

4 Went in search of more meaning

5 Working with many different leaders

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7 A big influence

8 Got involved in the movement

9 Objectives & Plan for this morning To build your awareness & understanding 1. of Conscious Capitalism and 2. of how the tenets of Conscious Capitalism foster employee empowerment

10 What is Conscious Capitalism? A Movement

11 What do we mean by Conscious?

12 Exercise

13 Capitalism is a good system for value creation Positive Impact Real GDP per capita rising over the long term Improved quality of life decreased levels of poverty Living longer - healthier More people getting an education Ethical Based on voluntary exchange for mutual benefit

14 Capitalism needs Improvement Only 33% are Engaged at work* *Gallup State of the American Worplace report 2017

15 Capitalism needs Improvement Top CEOs make more than 300 times the average worker Fox Paid Roger Ailes Twice As Much As The Woman He Allegedly Harassed

16 Capitalism Needs Improvement Drivers have 'no choice' but to sue Volkswagen over 'dieselgate' emissions scandal The Telegraph

17 What else is Conscious Capitalism? A holistic approach to maximize value for all the stakeholders of the business based on 4 tenets

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19 The Conscious Capitalism Business Model i.e. the Four Tenets Naturally fosters Engaged and Empowered Employees!!

20 What is Employee Empowerment? Having the authority, confidence, readiness, and opportunity to think, share ideas, make decisions & act in alignment with company purpose, goals & objectives

21 What enables Employee Empowerment? Knowing what to do in a given situation Quality thinking Relaxed & healthy able to access higher brain See/Understand/Align with the Big Picture Having the confidence in the knowledge Experience & learning from make mistakes Being supported Coaching, Mentoring & Training Wanting to do it Being intrinsically motivated Caring/Invested in the organization and its success Connected to colleagues and manager

22 What supports wanting to decide? Progress Smaller promotions (more frequently) provide a sense of progress Respect Flexible work time, work from home Provide the tools, resources to do the job Listen to their goals/dreams in jobs in which they enjoy the work Healthy culture Environment of trust & transparency Removing negative stress/pressure 96% of leaders feel burned out Cultivate wellbeing of employee and organization Intrinsic v. Extrinsic motivation: How create conditions in which employees will motivate themselves

23 Why foster employee empowerment? VUCA world need innovative, creative, adaptive thought Lasting Commitment Competition: It s a knife fight every day. Problems get solved faster = Better results! Customers get better service Better Health

24 Tenet #1 Higher Purpose

25 How does Higher Purpose foster Empowerment? Taps into Intrinsic motivation

26 How does Higher Purpose foster Empowerment? Attracts & retains people who are excited about the purpose = Better Fit

27 Empowered employees need to be connected to Purpose.. "Our mission: to inspire and nurture the human spirit one person, one cup and one neighborhood at a time. Should Clarify Decisions

28 A story about purpose and vision

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30 It can be challenging to stay focused on Purpose Purpose Profit Especially in Survival mode, Unbridled growth, Disruption/Transition

31 Permaseal: Our purpose is to make the world a better place

32 Connect & Reflect: Your purpose? What is something larger than yourself & your family that you care about? What gets you out of bed in the morning? Whose dedication to a larger purpose inspires you?

33 Tenet #2 Stakeholders Customers Investors Employees Company Purpose Values Vendors & Partners Community Environment

34 Businesses can create many kinds of value/wealth

35 Stakeholder Integration?

36 Integration requires a shift. From Pitting Stakeholders against each other to Unifying with each other

37 Aligning and balancing multiple stakeholders is challenging and messy

38 Financial Value for employees Living wage: Boloco, Pharmalogics, Gravity Payments Manage the mix: ratio of highest paid to lowest paid/average pay Offering the same benefits to employees and managers Team members vote on benefits Worker ownership: ESOP s, stock options: Harpoon, King Arthur Flour, WL Gore, etc.

39 Growth and Development Smaller but more frequent promotions Coaching relationships & training: Talking partner at Next Jump Skills based trainings which drive pay bumps vs. annual cycle at Zappos Subsidizing professional development and training: Container Store: 270 hours/year. Retail average is 16 hours/year. Leadership Development Programs builds self awareness, connects leaders, increase confidence/capacity, develop others

40 Social Value Relationships and connections found at work Being on teams builds familiarity and trust

41 C O M M U N I T Y

42 Tenet #3: Conscious Leadership Servant Leaders are characterized by: Listening Self Awareness Not driven by ego See and value the uniqueness in people Create a psychologically safe environment Create clarity about organizational vision and values

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44 Listen: All people are like teenagers

45 A short video about listening

46 Servant Leaders don t have to be in control Post Heroic Leaders tap into collective intelligence Build and create the space for Shared responsibility teams Ensure people/teams know they re supported They don t fall into the trap of only using the # s to manage/control people. They focus on intrinsic v. extrinsic motivators by create the conditions within which people will motivate themselves

47 Growth oriented Always interested in expanding their horizons Willing to get out of their comfort zone And They foster self leadership in others vs. wanting to be told what to do Delegate responsibility and find opportunities for others to grow

48 Are willing to confront Respect people don t coddle them Provide meaningful feedback Have difficult conversations to promote healthy culture Ask tough questions and knock people out of their comfort zones

49 A leader who cares about people

50 When leaders authentically value others as unique individuals people feel it. And when people feel valued and trusted they are better able to stretch themselves, embrace change and grow

51 Tenet #4: Conscious Culture Trust Authenticity Caring Transparency Integrity Learning Empowerment

52 Transparency Environment in which information is shared openly It is safe to be vulnerable People can acknowledge & learn from mistakes

53 Trust/Safety A study.

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55 Stress Inducing values Impact Health Bureacracy Hierarchy Blame Long hours Short term focus Information hoarding Manipulation

56 Intentional Culture will happen by accident unless you proactively create it Selecting for cultural fit reinforces intrinsic motivation

57 Conscious Culture - NextJump A COMPANY DEDICATED TO CHANGING WORKPLACE CULTURE

58 Connect & Reflect: How does the culture at your organization impact employee empowerment at your organization?

59 What about Performance?

60 Conscious Company Examples

61 Conscious Capitalism Movement 28 chapters across the US & growing 14 International chapters & growing Conferences & events locally and nationally 5.31 at Impact Hub: Conscious Conversation on Stakeholders: The Environment Options: Attend an event, become a member

62 If you want to learn more or get involved. Conscious Capitalism Boston website: (Next event is May 31) Conscious Capitalism website: Conscious Capitalism conference in spring & CEO Summit Oct 9-11 Conscious Company Magazine: B Magazine:

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65 Thank you! Bob Scoville Conscious Capitalism Boston Performance Talks, Inc