May 17, 2018 Bob Scoville Conscious Capitalism Co-Founder ... · Objectives & Plan for this morning To build your awareness & understanding 1. of Conscious Capitalism and 2. of how

Conscious Capitalism

Conscious Capitalism & Empowering EmployeesMay 17, 2018

Bob ScovilleCo-Founder & Director, Conscious Capitalism Boston

How I came to be here today

It all started with a dream...

A dream of being locked in a bank vault….

Went in search of more meaning…

Working with many different leaders

A big influence…

Got involved in the movement

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

What is Conscious Capitalism?

A Movement…

What do we mean by Conscious?

Exercise

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

Capitalism needs Improvement

Only 33% are Engaged at work*

*Gallup State of the American Worplace report 2017

Capitalism needs Improvement

“Fox Paid Roger Ailes Twice As Much As The Woman He Allegedly Harassed”

“Top CEOs make more than 300 times the average worker”

Capitalism Needs Improvement –

“Drivers have 'no choice' but to sue Volkswagen over 'dieselgate' emissions scandal”The Telegraph 2.20.17

What else is Conscious Capitalism?

A holistic approach to maximize value for all the stakeholders of the business based on 4 tenets

The Conscious Capitalism Business Model…

i.e. the Four Tenets

Naturally fosters Engaged and Empowered Employees!!

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

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

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”

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

Tenet #1Higher Purpose

Taps into Intrinsic motivation

How does Higher Purpose foster Empowerment?

How does Higher Purpose foster Empowerment?

Attracts & retains people who are excited about the purpose =

Better Fit

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

A story about purpose and vision

It can be challenging to stay focused on Purpose

Profit

Purpose

Especially in Survival mode, Unbridled growth, Disruption/Transition

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

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?

Tenet #2 Stakeholders

CompanyPurpose Values

Customers

Employees

Vendors & Partners

Investors

CommunityEnvironment

Businesses can create many kinds of value/wealth…

Stakeholder

Integration?

Integration requires a shift….

From Pitting Stakeholders against each other to… Unifying with each other

Aligning and balancing multiple stakeholders is challenging and “messy”

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.

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

Social Value

Relationships and connections found at work

Being on teams builds familiarity and trust

COMMUNITY

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

Listen: All people are like teenagers

A short video about listening

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

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

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

A leader who cares about people

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

Tenet #4: Conscious Culture

Trust

Authenticity

Caring

Transparency

Integrity

Learning

Empowerment

Transparency

Environment in which information is shared openly

It is safe to be vulnerable

People can acknowledge & learn from mistakes

Trust/Safety

A study….

Stress Inducing values – Impact Health

• Bureacracy

• Hierarchy

• Blame

• Long hours

• Short term focus

• Information hoarding

• Manipulation

Intentional

Culture will happen by accident unless you proactively create it

Selecting for cultural fit – reinforces intrinsic motivation

Conscious Culture - NextJump

A COMPANY DEDICATED TOCHANGING WORKPLACE CULTURE

Connect & Reflect:

How does the culture at your organization impact employee empowerment at your organization?

What about Performance?

Conscious Company Examples

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

If you want to learn more or get involved….

Conscious Capitalism Boston website: (Next event is May 31) https://consciouscapitalismboston.org

Conscious Capitalism website: https://www.consciouscapitalism.org/

Conscious Capitalism conference in spring & CEO Summit Oct 9 - 11

Conscious Company Magazine: https://consciouscompanymedia.com/

B Magazine: http://www.bthechange.com/b-magazine/

Thank you!Bob Scoville

Conscious Capitalism Boston

Performance Talks, Inc

617-909-0318