A growth mindset: your organization’s strategic differentiator

Here are three concrete steps to fostering a growth mindset in your organization.

The mindset of your leaders, managers, and employees has a profound impact on workplace culture, productivity, and collaboration.

A survey of employees of various fortune 1000 companies found that employees of growth-oriented organizations are:

  • 47% more likely to say their colleagues are trustworthy
  • 34% more likely to feel a strong sense of belonging and commitment to the company
  • 65% more likely to say the company supports risk taking
  • 49% more likely to say the company encourages innovation

Consider your organization. Are your teams fearful of failure, or is strategic risk-taking encouraged? Are you hiring based solely on your natural talents or are you open to new hires who demonstrate a desire to learn and grow? Are your quarterly evaluations based on rankings and numbers, or do you evaluate holistically to include personal growth and effort?

Renowned researcher and professor at Stanford University, Carol Dweck discovered two distinct types of mindsets: growing and fixed. People with a growth mindset believe that people can continually develop new skills and behaviors; individuals with a fixed mindset believe they were born with specific skills and talents that are unlikely to change.

Growth-oriented organizations cultivate a culture of high development where employees are empowered to take on challenges and learn new knowledge and skills. These organizations are more resilient and adaptable to change and have increased engagement, loyalty and productivity. Fixed-mindset organizations are those that focus on results and outcomes. These organizations are likely to peak early and plateau quickly.

Are you ready to drive a culture of growth and transformation? Here are three concrete steps to fostering a growth mindset in your organization.

Rethinking Comments

To research shows that organizations whose leaders and managers provide constructive, growth-oriented feedback experience 14.9% lower turnover, 12.5% ​​higher productivity and 12.5% ​​higher profitability. 8.9%. Yet a recent study revealed that only 50% of managers feel confident in their ability to provide constructive feedback that is well received by their employees. What can you do to close this gap and create a growth-oriented feedback culture?

First, it’s important to assess the language your teams associate with feedback. Encourage your leaders and managers to replace negatively associated words with growth-oriented words. For example, use “growth zone” instead of “weakness”. This shift stimulates the “towards state” mindset, where feedback is viewed as an opportunity for growth and less threatening.

Next, feedback should occur consistently in your workplace. Allow your employees to ask each other (not just their manager) for feedback throughout projects. When you encourage multiple feedback channels, your employees feel a greater sense of ownership and become more comfortable asking for feedback on a regular cadence.
Finally, when an employee exceeds their quota, a natural tendency of organizations with a fixed mindset is to praise the result and then move on, expecting the employee to perform the same way quarter after quarter. As your organization shifts to a growth mindset, remember to celebrate the journey, not just the result. Managers should provide feedback that assesses the strategies and behaviors behind the outcome. This helps employees recognize their strengths and areas for development, and cultivates confidence as they take on bigger challenges and higher quotas.

Encourage risk taking

Did you know that playing it safe in business isn’t always the safest thing? The most innovative and growth-oriented organizations, including Microsoft, Google, and Cox Communications, are here today because of taking strategic risks.

How do you encourage growth-oriented risk taking? The first step is to eliminate the fear of inadequacy and failure. Create a safe space where your employees can brainstorm, challenge, and implement new ideas. Whether an idea succeeds or fails, it’s important that your leaders and employees view each situation as a learning opportunity and spend time acknowledging what worked and what didn’t.

Invest in employee development

Organizations are facing an unprecedented talent shortage. A recent study by Korn ferry revealed that by 2030, more than 85 million jobs could remain unfilled due to a shortage of talent and skills. With a war on talent that’s here to stay, it’s time to focus on your greatest asset, your people. Leaders of growth-oriented organizations recognize the potential of their current employees and actively invest in developing their capabilities through development and retraining programs. Investing in the development and retraining of your employees increases employee retentionattracted new talentand cultivates a growth mindset at the individual level that stimulates engagement and job satisfaction.

As the business world rapidly changes and becomes increasingly competitive, taking steps to cultivate a growth mindset where feedback, risk-taking and growth are encouraged is a strategic differentiator that prepares your employees for long-term success and profitability.

As a Principal at Cox Business, John Muscarella is responsible for the overall strategy of preparing indirect commercial sales channels. His team has primary responsibility for developing, implementing and selling solutions using the Cox Communications network nationwide. John has over 25 years of business management experience, which includes sales and management positions with companies such as Polycom, Sprint and EDS.

This guest blog is part of a sponsorship by Channel Futures.

Aubrey L. Morgan