Blog

Learn and Experiment with Us!

Strategy & The Great Resignation

by | Purpose, Strategy | 0 comments

According to the U.S. Department of Labor, 11.5 million workers quit their jobs from April 1 – June 30 of this year.  Microsoft recently surveyed 30,000 workers, and a whopping 41% said they are considering leaving their current job. Gallup puts the number higher stating that 48% of folks are actively searching for new opportunities. 

I talk to owners and leaders every day, and “labor” is top of mind FOR EVERYONE. With the exception of a few visionaries who cracked the code on thriving culture well before the pandemic, almost no company is exempt. 

The cost of the Great Resignation extends beyond financial. People are experiencing tremendous stress trying to overcompensate for short staffing, companies are losing revenue because they can’t deliver, and the integrity of brands is weakening as customers bear the burden of poor service and quality. 

So what does this have to do with strategy? 

If you’ve been listening to the 10X Impact Podcast, you’ve heard the last three episodes about Strategy 10X Style. (Listen HERE, HERE, and HERE.) 

We hold a deep seeded belief that 10X Aligned Strategy is the taproot of a high performing company people are proud to dedicate their careers to. We don’t believe this because we’re hopeful; we believe this because we’ve seen it. 

Over and over, companies who live into the principles of 10X Aligned Strategy thrive, and the results are exponential; not additive.

What’s the math on that bold claim? 

If you’re in THRIVE STATE and I’m not, your team is 28% more productive and happier at work, your company is 22% more profitable, and your leaders have more time to dedicate to what’s next versus what’s now. My anecdotal experience tells me the time buy-back is upwards of 20%. That’s a full day a week.

What do you do with all that excess energy, time, and talent? You widen the gap. We’re both working earnestly, but while I’m barely keeping my head above water, you’re joyriding your flywheel of success. 

What’s special about 10X Aligned Strategy? We think a lot, but here are 3 elements that could help with that sticky people issue we chatted about earlier. 

HIGHER PURPOSE

10X Aligned Strategy begins with what matters most: Higher Purpose. Likely, your widget is not stratospherically better than all the other widgets. Fortunately, your customers also care immensely that you’re making a positive impact in the world.  And double the good luck, people align decisions, including supplier choice, with what they care about. 

And your team? They are clamoring to hear a higher purpose they can rally around, dedicate their genius to, and be part of that’s bigger and brighter than what they can do alone.   

Higher Purpose is a calling; not a goal or a to-do we check off. It is our BIG WHY; the one that inspires us to take risks, play big, and ignite our passion.  A 10X Aligned Strategy is built on the foundation of Higher Purpose. 

INCLUSIVE CREATION

There is no place for hierarchy in strategy, and in our experience, the more top down you are in your planning, the less coherent your outcome. Now, take that “corporate speak” strategic plan and add terrible execution (Harvard Business estimates that 86% of all strategic initiatives fail), and voila! We have a familiar storyline to most business owners; a surefire way to jade and demotivate your team. 

I recently heard a TedX Duke University talk where a researcher shared an experiment where he asked people to give one word that described work. Guess what #1 was? Crazy. #2? Overwhelming. A special nod to Confusing which also hit the top quartile. 

10X Aligned Strategy brings unique perspectives, lived experiences, and expertise together.  It dissolves hierarchy and creates equity of voice which not only fosters a better outcome, but if done well, cultivates genuine connection and unbolts the gates that silence communication. 

As an aside, I recently led a fabulous group of leaders in strategic planning, and maybe due to COVID or busy schedules, only two people at the table had spoken with a client about their goals and their vision for the partnership IN OVER A YEAR.  This team of leaders was tasked to develop strategy and essentially had no insight into their customers’ hearts and minds. Imagine if they invited someone from sales, client experience, and product delivery to the table! 

10X RHYTHM OF PERFORMANCE

My inner nerd LOVES this 10X Aligned Strategy difference. Traditional strategy is treated like an event (aka: Football Season). I talk about this death trap in this podcast episode, as it is the core reason 86% of strategic effort fails. 

The 10X Aligned Strategy runs a rhythm that blends agility with steadiness, urgency with curiosity, and future focus with today’s reality. And EVERYONE in the company gets to talk about how their role and contribution supports the strategy EVERY WEEK. 

And in almost every company I’ve helped implement this rhythm, we do this without adding a single meeting.  Magically, when companies implement the 10X Rhythm of Performance, their meeting calendar lightens; freeing up time to do the work that matters most  and makes their heart skip with joy.  

An upcoming podcast is on its way sharing more information about the 10X Rhythm of Performance so be on the lookout! A departing thought: If you’ve had lackluster results with your strategy in the past, change your process. It sounds simple, but most companies just keep running the same playbook wondering why no one’s showing up for the game. If we can support you, email us hello@leadershiplab.com.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Welcome!

We understand it is hard work pursuing purpose-driven businesses! Here we offer regular support, ideas, and encouragement to continue the important work you do every day. We cover an array of topics from Higher Purpose, to Leadership, to JEDI (Justice, Equity, Diversity, and Inclusion). Let us know what is most helpful, and what you want to hear more about!

Sign Up For Our Email Newsletter

Learn more about becoming a 10X Impact company.