Creating a wickedly successful company
$36B of value is being lost by Australian companies through lack of heart skills, says the latest Deloitte Lucky Country Report.
Heart skills are skills which encourage kindness, compassion, acceptance, and caring; recipients of heart skills feel heard and know they matter. Heart skills are the grease which connects us and the food which helps us thrive. Customers want to be understood and accepted by their suppliers. Employees want to be encouraged to be the best that they can be. Both outputs need heart as an input. Companies which actively encourage this, are magnets to opportunities.
Two companies notable for being Employers of Choice as well as wickedly financially successful are Hubspot and Atlassian. These companies have unashamedly built companies fostering autonomy, and its siblings creativity, transparency and trust.
Hubspot at 14 years old, has a share price of $157 (Mkt Cap $6.68B). Its people are filled and supported with HEART: Humility; Empathy; Adaptability; Remarkability; Transparency. Like Atlassian its people govern themselves through “Good Judgement” honed through continuous learning, rather than reams of policies and procedures. Atlassian at age 17 is currently $128 per share (Mkt cap $31.11B). From day one its founders decided that the people in Atlassian would take ownership of their roles with all the resources and responsibilities that this entailed. When it was only 13 years old Atlassian had already contributed $40 million to charity and was getting itself ready for listing. Just this week it announced it will be carbon neutral by 2050.
We all want to leave a legacy of which we can be proud and when our work allows us to do this, we feel our efforts are worthwhile. It’s hard to be disengaged when you are doing something that matters to you. Gallup reported that 14% of Australian staff are actively engaged. That means a great many companies have a lot of opportunity for improvement.
Building heart skills is a stepwise activity not something that occurs overnight. It needs a supportive structure and total commitment of all people for it to work. It is best built layer by layer using action learning that targets the priority areas, applying the problems and experiences of the people involved.
Some companies already have a common purpose and structures in place but are faltering at the implementation, others will be just starting out. Regardless of each company’s current situation all efforts (applied with rigour, patience and forethought) will be beneficial. The thing is to start, not to hesitate.
If you would like assistance in your journey, feel free to call on me.
Helping companies develop their structures, strategies, leaders and people so that they perform at their best, using coaching, training and self discovery to do so, is the work I love best.
ABC News, “Australian tech company Atlassian commits to net zero emissions by 2050” by Max Tillman, posted 23rd September, 2019. 7:22pm https://www.abc.net.au/news/2019-09-23/atlassian-commits-to-net-zero-emissions-by-2050/11540144 Downloaded 30 September 2019.
Deloitte. “The path to prosperity. Why the future of work is human” 2019, Building the Lucky Country #7, https://www2.deloitte.com/au/en/pages/building-lucky-country/articles/path-prosperity-future-work.html Downloaded 15th September 2019.
Gallup “State of the Global Workplace Report” 2017. https://www.gallup.com/workplace/238079/state-global-workplace-2017.aspx Downloaded 15th September 2019.
Hubspot, “Our core values stay constant – Culture code: Creating a lovable country” 2013. https://www.slideshare.net/HubSpot/the-hubspot-culture-code-creating-a-company-we-love/87-Our_core_values_stayconstant_but Downloaded 15th September 2019.
Share prices NASDAQ accessed 4th October 2019.
Tech Insider “Atlassian’s 1% rule has raised $40 million for charity, and now they want another 500 companies to join in”. by Alex Heber, 26th February, 2015. 2:02 PM. https://www.businessinsider.com.au/atlassians-1-rule-has-raised-40-million-for-charity-and-now-they-want-another-500-companies-to-join-in-2015-2 . Accessed 4th October 2019.