Gregory Bayne is one of the Directors of Total Leader and Coach Solutions Australia. Greg works with senior and executive leaders assisting them to make shifts in the way they work, the way they think and the way they live their lives to become better leaders, colleagues and team members. Greg has a particular focus on assisting leaders create a culture or accountability and high performance. His expertise and knowledge is around building and developing a culture of accountability, leading high performing teams, and getting the most out of people to deliver the highest standards of work. We cultivate sustainable behavioural change in individuals, teams and organisations to drive a performance culture.
Should Organisations Focus on Performance or Well-being? Which generates better long-term outcomes?
The latest evidence and research tell us that organisations that have employees that have high levels of well-being, are more engaged and more passionate about their work.
Employees that are more engaged and more passionate about their work then deliver better outcomes as individuals within the organisation, which then delivers better organisational outcomes.
The majority (90%) of executives believe the long-term success of their organisation's strategy depends on their ability to develop new ideas. Most organisations driving ‘Innovation & Technology’ believe that this innovation and technology will lead to superior competitive advantage.
Unfortunately, this is an erroneous view. The evidence is now demonstrating that the focus on Innovation & Technology is NOT actually delivering superior competitive advantage. There is increasing evidence from global organisations, that focusing on well-being i.e. developing people to be physically well, mentally well, and emotionally well, generates the best long-term sustainable performance for organisations.
An organisational well-being strategy is NOT simply implementing a Stress-Management program for employees!!
If organisations wish to be sustainably competitive, they need to have a well-being strategy at the fore-front of the business strategy. However, an organisational well-being strategy is not simply implementing a ‘stress-management’ or ‘burn-out prevention’ workshop for employees. It involves a number critical components, starting with equipping leaders with the skills, knowledge and strategies to build resilient teams and employees.
A well-being strategy could look something like this:
The best strategy to build a business that has sustainable competitive advantage is to focus first on cultivating high levels of well-being across the business. We know that when people are physically well, emotionally well, and mentally well, they perform better, they are safer, they are more engaged, they are more proactive and innovative, and they deliver better outcomes for the business.
Organisations will need to change what they focus on, and if they don’t they will ultimately lose the competitive advantage.
The second part of the strategy to generate sustainable competitive advantage is to focus efforts on developing outstanding leadership and a culture that supports innovation and high performance. Innovation is an outcome of people with high levels of well-being, outstanding leadership and a constructive culture.
Organisations need to shift their thinking, and if they don’t they will ultimately lose the competitive advantage. Those organisations who focus on well-being, leadership and culture will gain the competitive advantage. What is your organisation choosing to focus on?