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The Hazards of a “Nice” Company Culture
In far too many companies, there is the appearance of harmony and alignment but, there’s often dysfunction simmering beneath the surface. The intention behind cultivating a nice culture is often genuine. Leaders believe they’re doing a good thing that will motivate people and create inclusion. But often it has the opposite effect, and the result is a lack of honest communication, intellectual bravery, innovation, and accountability. To combat a culture marked by toxic niceness, I recommend leaders use four tactics: Clarify expectations and performance standards. Publicly challenge the status quo, even if you helped create it. Provide air cover for people who speak up. Confront performance problems immediately. While initially it may be uncomfortable for all involved, the process will be honest and will also create a very different culture as a result which is more realistic, it will drive a greater level of cut through on important projects with improved results, and the team development will prosper. |
Boost Psychological Safety in Your Workplace
Especially in tumultuous times, managers and their teams increasingly depend on candour, speed, and creativity to make progress. Creating psychological safety — the confidence that candour and vulnerability are welcome — in a workplace is truly challenging and takes an unusual degree of commitment and skill. But it can be done. There are four essential elements for creating psychological safety based on successful implementation at a Swedish financial group. First, focus on performance. Second, train both individuals and teams. Third, incorporate visualisation. Finally, normalise work-related vulnerability.These steps comprise a powerful approach to altering the climate and capabilities of any team. |
Re-Onboarding Employees Who Started Remotely
While going back to the office will be an adjustment for everyone, it will be an entirely new experience for remote hires.
Here are six strategies to re-onboard employees who started remotely:
1) Allow remote hires to bond as a cohort.
2) Be thoughtful and make an extra effort to make these employees feel particularly welcome.
3) Orient them to the facilities.
4) Communicate with managers and check in regularly.
5) Create a buddy system.
6) Create informal team building opportunities.
On-boarding remotely does not mean job done, you will have to start again as if the team members are brand new hires to integrate successfully.
Olympics Could Miss The Mark For Sponsors
The Olympic opening ceremonies are on Friday. The decision to move forward with the Games has put sponsors in a tricky position because they are no longer the predictable investment that they were pre-pandemic. The latest: Toyota, one of the Games’ top sponsors, said that it would not run Olympics-related TV commercials, according to a local report. Why it matters: Companies spend hundreds of millions of pounds for the right to be associated with the Olympics, a singular opportunity to reach a global audience for weeks and months.
State of play: Not only are spectators banned from attending, nearby fan zones have been scrapped as well.
By the numbers: “Worldwide” partners like Airbnb reportedly pay $500 Million for a nine-year right to be the Games’ official housing sponsor, while lower tier “Gold” partners like Asahi reportedly paid about £100 million to support the Tokyo Games specifically. Yes, but: While sponsorships are important sources of revenue for local organising committees and host cities, they only represent a fraction of the revenue for the IOC.
In reality: It’s dire economics for host cities of the Olympics. Sponsor brands need a return on their investment and this Olympics will not deliver that in any shape or form, so this will serve as a good example to businesses looking for partnerships and support from brands who sometimes take it for granted and get addicted to the lure of the sums of cash on the table but if you can’t deliver on expectations then don’t expect the investment, period. |
Questions Boards Should Be Asking About Digital Transformation
Digital transformation is increasing the scope of boards’ mandates, opening new fronts for risk and competition. Asking the following five questions will ensure that even non-digital directors are focused on the most important challenges: 1) Does the board understand the implications of digital and technology well enough to provide valuable guidance? 2) Is the digital transformation fundamentally changing how the business (and sector) creates value? 3) How does the board know if the digital transformation is working? 4) Does the board have a sufficiently expansive view of talent? 5) Does the board have a clear view of emerging threats? Board members need to understand the principals of Digital within their respective businesses and in the wider context of their competitive set as otherwise they are leaving themselves wide open to the risks of the management team “Marking their own homework”. |
Fixing Your Data Supply Chains
Data is more important than ever, but most organisations still struggle with a few common issues: They focus more on data infrastructure than data products; data is often created with the needs of a particular department in mind, but little thought for the end use; they lack a common “data language” with each department coding and classifying with their own system; and they’re increasingly focused on outside data but have few quality control systems in place. By focusing on “data supply chain” management, companies can address these and other issues. Like physical supply chains, companies should think systematically, focus on end products, define standards and measurements, introduce quality controls, and constantly refine their approach across all phases of data gathering and analysis. Start with the end in mind. |
Recognising Your Customer’s Purpose is Key to Growth
Growth strategies that are purpose-led, customer-centric, experience-driven, data/AI-enabled, and technology-scaled require new mindsets far more than new toolsets or skillsets. This transformation — of culture, operations, and outcomes — begins with a broader consideration of three levels of customer purpose. First, big-P purpose describes the company’s role in the world. Second, medium-P purpose depicts its role in the lives of customers. Finally, small-P encompasses all the intents, needs, questions, or desired outcomes that might compel a customer to engage your business or brand. |