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Board Governance: Create a ‘Magic’ Board

Embark on a transformative journey with Matt Fullbrook, whose incredible evolution from an early career in corporate governance to pioneering a governance revolution exemplifies a fresh approach to corporate strategies. With over two decades of immersive experience, he champions unlocking the potential within corporate decision-making. Matt's Ground-Up Governance newsletter also serves as a guiding light for transparent boardroom communication and a driving force for corporate transformation. Dive into his journey, and you'll have the opportunity to hear his remarkable story firsthand while gaining exclusive access to a wealth of governance insights.

3 Consequences of Losing Faith in Your Employees (yes, they know)

Your employees aren’t stupid — it’s why you hired them in the first place! When company CEOs and managers start doubting their team, it's pretty noticeable, and it can lead to some serious consequences. Seeing how crucial this is, we’ve compiled a few of them below.

#1 Declining Employee Morale

Employee morale is intricately linked to leadership belief. When leaders lack faith in their team, it leads to a rapid decline in morale. Workers need to feel valued and trusted to perform at their best. The absence of this trust can lead to decreased motivation, enthusiasm, and overall job satisfaction. In turn, this affects productivity and the quality of work produced.

#2 Stifling Innovation and Productivity

The innovative spirit and productivity of a team can be stifled when leaders do not trust their employees. Creativity, problem-solving, and overall efficiency may be hampered by a lack of faith. In contrast, leaders who empower their employees to take risks and make decisions often find that innovation thrives, leading to business growth.

#3 High Employee Turnover

A lack of belief in employees leads to high employee turnover. When employees feel undervalued and unsupported, they often seek opportunities elsewhere. This results in a revolving door of recruitment and training costs for the organization, straining resources and affecting overall stability. The financial impact of high turnover is significant and directly related to leadership's trust in their team.

Trust is the cornerstone of successful leadership, fostering a positive work environment and driving business development. The best leaders are the ones who are most patient.

Your Story Matters

Back in high school, Nada Buhendi’s math teacher advised her to find a shoulder to cry on when she made the decision to take on college-level math. In one of her previous contracts, her boss said she was a horrible agile coach and encouraged her to never teach again. And if that wasn't enough, several other mentors also suggested she shut down her career coaching practice and simply find a job. They didn’t believe her business would be profitable.

Years of being told "I wasn't good enough" had a profound impact. It tore at her self-esteem, made her feel like an outsider, and took a toll on her mental health. Overall, it brought her to some dark places.

But even in the darkest of times, a small voice within her started to grow louder. It whispered to her, "You matter." And it was that voice that would ultimately set her on a path to bounce back.

Nada didn't let the opinions of others define her. She took those negative remarks as a challenge rather than a verdict. She defied her math teacher's doubts, tackling college-level math and achieving a commendable 'B' grade.

She also ignored her boss's harsh critique. Instead of heeding the advice to never teach again, she doubled down on her commitment to coaching. She went on to help over 100 career transitioners land jobs they loved. But that was just the beginning.

In the face of her mentors' skepticism, Nada persevered. She not only kept her career coaching practice alive but managed to generate a six-figure salary within a year. Her determination was relentless.

Nada's journey isn't a fairy tale. It wasn't always glamorous, and she often felt like she was stumbling in the dark. Yet, one unwavering belief fueled her progress: "My story matters." It's a belief that compelled her to share her thoughts, experiences, and wisdom with the world.

Today, Nada continues to post every week since 2020, serving as a beacon of inspiration to countless others who might be facing their own moments of doubt and despair. Her story is a testament that, even when it feels like the world is against you, your story matters, and it can be your greatest source of strength.

Interactive: What would you do?

A company that produces diagnostic imaging equipment faced a unique challenge, despite having a product that was well-received in the healthcare industry. Their magnetic resonance imaging (MRI) machines, while highly effective, posed a significant problem when it came to pediatric patients. The traditional MRI environment, with its long, cold, and dark procedures, often caused distress and anxiety among children, leading to crying and uncooperativeness.

How would you solve this problem?

Send your responses to [email protected]

Stay tuned! We’ll be revealing the company name and how it solved this problem in next week’s newsletter.

Tap Into The Experiences of Industry Experts

Companies that don’t take this seriously will lose talent at a much higher rate than ever before

Between April and September 2021, more than 24 million American employees left their jobs, which is an all-time record. People have been exhausted from burnout since the early days of the COVID-19 pandemic.

Problems that remained hidden during relatively calm years suddenly exposed themselves in a much more exaggerated way. An MIT study analysis of 34 million online employee profiles of U.S. workers revealed that the top predictor of employee turnover during this time period was corporate culture.

Toxic workplace cultures no longer have a place in this new era of business — at least for those who wish to succeed. In order to retain top talent and surge ahead, businesses now realize that they must create healthier work environments. The exciting part is that this shift is not the sole domain of top leadership; managers and supervisors play a pivotal role in this transformative journey as well. As employees evolve, so must our approach to workplace culture.

Forging Psychological Safety: Where Respect and Trust Thrive

Unhealthy work environments can take on many destructive forms, from an obsessive focus on work at the cost of well-being to cultures of fear, bullying, and humiliation. It's the managers who hold the keys to building psychological safety, a place where everyone is treated fairly and with respect. Here, open communication is encouraged, and employees can speak up without fear. Humanizing conversations and displaying genuine care for the holistic well-being of employees are the cornerstones of nurturing a workplace that's both safe and nurturing.

Crafting Meaning

In this fast-paced world, the most fulfilling work is rooted in purpose and meaning. To achieve this, companies should:

• Communicate their mission and values clearly to employees.

• Inspire employees to bring their genuine selves to work.

• Foster a sense of community among the workforce.

• And cultivate a harmonious work-life balance, enabling employees to find fulfillment both on the job and in their personal lives.

By aligning work with the company's mission and values and empowering employees to embrace their true selves, businesses can cultivate environments where work transcends being a job.

Investing in the Growth of Our Greatest Assets: Our Employees

Investment in career advancement opportunities is the cornerstone for ensuring that employees, the backbone of every company, feel valued and respected. Some innovative companies are harnessing tools like Opportunity marketplaces and Digital Adoption Platforms (DAPs) to provide efficient, cost-effective, and employee-supportive training. These tools empower employees to chart their career paths, enhancing proficiency and productivity while boosting job satisfaction.

In 2023, the journey toward healthier work cultures is the lighthouse guiding companies to a thriving future. Retaining top talent, fostering engagement, and nurturing satisfaction are the fruits of this transformation.

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