Everyone has learned the importance of bouncing back after experiencing difficulty. While human resilience is important, business owners and entrepreneurs may be surprised to hear that fostering organizational resilience can have a positive influence on revenue and profitability as well.
Flexibility is a necessity, not a luxury. Companies that allow for flexible work schedules have better financial results, higher productivity, and happier employees, according to a new study by the BetterUp organization. Tens of thousands of professionals were interviewed before and after the outbreak for the study, which was entitled "Resilience in an Age of Uncertainty."
The researchers discovered three unexpected benefits of more flexibility:
As a matter of fact, firms that improved worker resilience had three times the annual revenue growth of their counterparts.
It's also not a coincidence. Over the course of five years, companies that grew the most resilient experienced 60 percent greater revenue growth than those who grew the least resilient. In addition, individuals who had the most endurance earned 22 percent more per year than those who had the least amount of endurance.
In a fast changing environment, it is critical to maintain an open, inquisitive, and adaptable mindset. Curiosity, experimentation, and failure are in the DNA of the most innovative firms, and they are essential to their success. When it comes to invention and originality, cognitive flexibility, and collaborative creativity, employees who scored the highest on resilience outperformed their counterparts. Even in bad circumstances, those that are resilient are able to innovate and exceed their competition.
Teams with resilient leaders are 52 percent less likely to burn out, 78 percent less likely to leave, and 57 percent more purposeful in their work than teams without resilient leaders. During stressful times, everyday tasks such as caring for loved ones and maintaining a sense of balance become more challenging. It allows you to easily access the talent you require in order to engage with consumers, deliver things, and build your business.
Increasing your organization's flexibility is beneficial to your business, your teams, and your people. However, this is an important consideration. Developing resilience in your employees, leadership team, and yourself in an uncertain business environment might be difficult, but it is possible.
The good news is that people can learn to be more resilient. On an individual level, investing one to two hours per week in building positive and self-compassionate mindsets can be beneficial in increasing resilience. However, it is necessary to continue. One-on-one coaching and mentoring are two of the most effective methods of promoting resilience in individuals.
So, as a corporate leader, what can you do to assist others in developing this vital skill? Take into consideration the following three points:
What methods do you use to assist managers? Resilient managers develop resilient teams that are more adaptable and perform better while reducing burnout and employee turnover. It is possible for a company to achieve significant success by developing resilient managers and frontline staff.
What methods do you use to increase happiness? When resilience and well-being (both mental and physical health) are combined, they provide a formidable barrier to adversity and adversity-related stress. Employee health strategies should be reviewed on a regular basis to ensure that they address all areas of well-being.
What methods do you use to individualize development? As assertiveness develops, so does resilience. Behavior modification that is personalized, evidence-based, and data-driven is effective. Most training regimens are unable to devote sufficient time and attention to it. Consider how one-on-one assistance can assist you in making significant and long-term gains.
It is possible to increase workplace productivity today while also establishing long-term capacity to adapt and prosper in the future by concentrating on resilience training and development.
Through the development of employees' resilience skills, leadership may take back control, which may be the most significant personal and professional talent of our generation.
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