Meaning Is the New Money (Harvard Business Review)

Meaning Is the New Money (Harvard Business Review)

Over the last year, I've been doing a lot of research on how organizations will need to evolve to meet the demands of the 21st century. The central premise of this work is that new technologies, most of which have appeared only within the last decade, greatly amplify our abilities to interact simultaneously with large numbers of people. The frontier of human productive capacity today is the power of extended collaboration — the ability to work together beyond the scope of small groups.

But doing this successfully turns out to rub up against a number of assumptions that are deeply embedded in the ways most organizations still operate today — assumptions that are no longer valid, but are so deeply buried that we fail to question whether or not it makes sense to do things the same way.

Here's one assumption many organizations live by: “If you can see your employees working, they're productive. If you pay them more, they'll work harder.”

Working in a world of extended collaboration asks individuals to contribute through a different and, in many ways, more complex set of activities. Workers must deal with rich content that flows through infinite links. Individuals must make intelligent, well-informed decisions about what to share with whom (and what not to) with less guidance from the hierarchy to simplify the patterns of interaction. And they must dig deep within themselves to form innovative ideas and put their best thinking forward.

To a large extent, the conduct of these activities is not something managers can prescribe or even monitor. Unlike process-based work, in which the goal is to perform synchronized tasks consistently and reliably, extended collaboration occurs asynchronously and is often aimed at discovering or developing something new. Rather than requiring everyone to be in the same place at the same time, extended collaboration can occur virtually. In process-based work, quality can be assured through in-process inspection and performance judged on conformity to process specifications, while the quality of collaborative work can typically be assessed only by the results achieved.

Perhaps most significantly, extended collaboration requires high levels of discretionary effort. People have to choose to do it and have to want to do it well. Leaders can create a context in which that is likely to happen, but collaboration cannot be mandated. It requires high levels of employee engagement.

My research has clearly shown that high levels of engagement, and the associated discretionary effort, occur when our work experiences reflect a clear set of values that we share. For many today, meaning is the new money. It's what people are looking for at work. Clear company values, translated into the day-to-day work experience, are one of the strongest drivers of an engaged workforce, one primed for successful collaboration.

When employees are engaged, they are excited and enthusiastic about what they're doing and enjoy pondering current challenges. They invite others in and are emotionally contagious. Engaged employees identify proudly with the organization and their work. These are the conditions that drive individuals' desires to collaborate in business.

As the old assumption that managers can "oversee" the quality of people's work and pay more to motivate more falls away, the role of leadership shifts from adopting and enforcing best practices to crafting unique experiences that reinforce the organization's values. It becomes less important to be all things to all people and more important to attract and retain people who value what you have to offer. Rather than offering a little of everything, companies must shift to excelling in specific areas that align with their unique values.

By strengthening meaning and increasing engagement, firms can connect with and motivate employees whenever and wherever they work.

Do not hesitate to contact one of our Human Resources

Professionals at HOTLINE TO HR, for assistance in getting more information regarding:

HOW TO MOTIVATE

HOW TO ENGAGE EMPLOYEES

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