Since people are at the core of a company’s culture it is a paradox that employee engagement and culture issues exploded onto the scene in 2015, rising to become the No. 1 challenge in the enterprise world. In today’s transparent and fast changing world, a corporate “leader” can no longer demand meaningful contribution simply because she or he is the “boss”. The power has shifted to each employee of a company.
The old ideas that “people leave managers, not organizations” and “engagement is driven by a manager” are out of date, as we now operate in much flatter organizations. Employees operate in a transparent job market where in-demand staff find new positions in their inboxes. Talented employees thrive when the conditions are in place to feel motivated and inspired themselves to take active part in making an impact as valued members of a greater purpose.
What works? Make work irresistible.
Today, more than twice as many employees are motivated by work passion than career ambition (12% vs. 5%). Michael McNamara, CEO of Flex said at a roundtable discussion at World Economic Forum – Davos “Culture is the bridge between strategy and execution. Culture is how we row the boat in the same direction to get the execution.” Much can be gained by including co-creation as a strategy in a company, also when it comes to increasing engagement:
- Employees and customers who are co-creators are more loyal and thus less price sensitive or likely to defect, improving customer lifetime value
- Co-creation leads to an increase in new ideas by opening the organization to the innovative capability of external sources
- Co-creation builds a flexible and organic system that can more quickly adapt to market changes and new technologies
- Co-creative business models are growing at faster rates, are more profitable and more scalable than those that rely on proprietary, in-house solutions and people