There is no longer much debate that companies must be about more than maximizing profits. Yet while many companies are articulating their purpose, much remains to be learned about how to create environments that can help turn intentions into reality. Nothing grows in bad soil, no matter how good the seeds and water are. Similarly, no company purpose, regardless of how well it is defined, can materialize unless the company environment is fertile. A fertile environment is one where employees have a spring in their steps in pursuit of a noble purpose, and where everyone can become the best, biggest, most beautiful version of themselves. It is the kind of environment that can unleash what I call “human magic” and result in inordinately great results, like what we experienced at Best Buy as part of the company’s resurgence.
The Secret Ingredient of Thriving Companies? Human Magic.
Your company purpose can’t materialize without it.
January 10, 2022
Summary.
The traditional corporate approach to motivating people has been a combination of carrots and sticks: a system of financial incentives designed to mobilize everyone around a plan designed by a few smart people at the top. Multiple studies have confirmed that, for any work involving cognitive or creative skills, financial rewards do not drive motivation and performance. So, what does? According to former Best Buy CEO Hubert Joly, it takes several mutually reinforcing elements to create an environment that unleashes the kind of human magic necessary for a company purpose to take root and flourish. He presents six ingredients to create your company’s unique recipe for human magic.