There is no denying that every business on planet earth wants to inspire people, foster brand loyalty and expand its footprint. While it is perfectly fine to strive towards such goals, a majority of businesses don’t know how to go about the same. Even the most adept leaders and companies get lulled into believing that elaborating “what they do” and “how they do it” is key to driving success faster.
In the wake of delusion, businesses highlight their plans and approach to work in great detail, hoping that their endeavor would yield favorable outcomes. However, most companies fail to realize that people out there are not concerned with “what” and “how” they do their business. In an attempt to resolve this long-standing matter, adamant optimist and TEDx speaker Simon Sinek addressed the issue in his top-selling book “Start With Why”.
“Start With Why”, is loaded with profound insights which have the potential to take businesses to the next level in a brief timespan. One timeless piece of wisdom that applies to companies in every era is the unwavering – FOCUS ON WHY. Sinek believes that companies looking to progress ought to put in the needed efforts to understand the real “power of why”.
In this article, we will shed light on how the power of why can work wonders for giving a major boost to employee engagement. Before moving any further, let us quickly elaborate what the “power of why” is all about to facilitate a better understanding.
What exactly is the power of why?
It must be noted that Sinek’s WHY differs greatly from the normal “why” which we use frequently in our day-to-day conversations. These words paint a clear picture of Sinek’s idea of WHY – “People don’t buy what you do; they buy why you do it. And what you do simply proves what you believe”. Be it meeting sales targets or integrating new technologies, almost all organizations know what they do.
Nevertheless, only a handful of companies cognize why they do whatever they do. Simply put, WHY stands for PURPOSE, which is the prime and most basic reason for the existence of any organization. Likewise, the power of why pertains to the power of purpose. Once companies shift their focus from what they do to “why” they are in business, they will succeed in making a difference in the lives of people they value.
Why does employee engagement matter?
Without a doubt, employee engagement holds paramount importance in today’s age as it can improve retention to a great extent. An engaged employee can significantly contribute to the growth and success of an organization by driving profitability. It is so because employees who are engaged tend to be more productive than unengaged workers. Here are a few notable benefits of keeping employees engaged in an organization.
Increases profits significantly
Based on the findings of a study conducted by Gallup, companies with high levels of employee engagement witnessed a whopping 22% increase in overall profits. When companies focus on improving employee engagement, it becomes easier for workers to give their best shot to the tasks they are assigned. As a result, profits go up by a large margin.
Lower turnover rate
The biggest advantage of having engaged workers is that the turnover rate remains low. When employees are happy and engaged, they tend to stay with the same company for a longer period of time. This ensures that hiring costs are eliminated and in-house recruiters don’t have to hunt for adept candidates every now and then.
Reduced workplace stress
Chronic workplace stress is one of the main reasons why so many employees quit their jobs. Stress and burnout can lower productivity and lead to decreased job satisfaction. The good news is that employee engagement can go a long way in keeping workplace stress at bay.
How does the power of why impact employee engagement levels?
Considering today’s fast-changing work environment, keeping employees engaged should be a top priority for company executives. Given below are some questions you need to ask yourself if you are willing to engage your workers.
- What is your ultimate purpose and cause?
- Why does your company exist beyond the services it offers?
- Why should people care about your business?
- What is your fundamental belief?
Before expecting employees to know WHY they should come to work, a business leader should be in a position to answer all the above-mentioned questions. After the WHY is answered, HOW (the process) and WHAT (the results) will follow on their own.
When it comes to expanding your workforce, you should see if the people you are planning to hire coincide with your “belief in why”. The key findings of a survey revealed that 60% of employees are unaware of their company’s vision whereas 67% don’t feel motivated by the company’s mission. Employing a workforce that does not resonate with your vision can detrimentally impact your business’s growth in the long run.
Whereas employees who have the same set of beliefs as your organization will be better equipped to perform their roles with efficiency. If your team believes what you believe, they will put their heart into the job and the result will be nothing short of a miracle. As mentioned earlier, “WHY” equates to the purpose of your company.
The mission is not just to figure out the “WHY” but also to market it effectively. If you succeed in acquainting your employees with the “WHY” (purpose), engagement levels will automatically improve. Consequently, your employees will experience higher motivation which will in turn lead to better business outcomes. Moreover, they will realize that the organization values them and they are an integral part of the company’s mission.
The best part about motivated employees is that they put their blood, sweat and tears into work, not only for the monetary incentives but also for what they stand for. Sinek has drawn the inference that success across domains is tied to a common factor – the power of WHY. Once you identify this power and align your employees to the company’s vision, you can accomplish any goal under the sun.
It is imperative for businesses worldwide to direct their attention to “WHY” regardless of their size and scale of operations. With Sinek’s book gaining ground in the business sphere, companies have an added advantage as they can leverage the insights at hand for functioning efficiently. So, make sure you focus your attention on realizing the “power of why” to uplift employee engagement and take your business to unprecedented heights.
Here is a quote from Sinek that will lend you the much-needed motivation dose – “Working hard for something we don’t care about is called stress: Working hard for something we love is called passion.”