Employees Value Purpose Over Money with Lorna Borenstein of Grokker

Have you ever thought to yourself “If we only could have paid a bit more money, we would have landed the A-player we really needed to hire”?

If so, you would be wrong. 

We often assume that money is the main reason for the turn down but in reality, it is our inability to demonstrate how our opportunity brings purpose to the individual. It is no longer a time where good people will sacrifice career satisfaction for a paycheck. 

The balance of power has shifted and the mindset has changed. One thing we have learned from the pandemic is that purpose trumps the paycheck for almost everyone worth hiring.  

Our guest today: Lorna Borenstein, Founder & CEO of Grokker.

The social health and wellbeing network that helps employees at global enterprises to move more, sleep better, eat more healthily and reduce financial stress. Her new book, It’s Personal: The Business Case for Caring, thoughtfully examines the Human Connection Movement™ in the workplace, which is fueled by a growing desire among employees to feel more connected to one another and as a result, better connected to their jobs. 

Lorna’s expertise has been featured in top tier publications including Bloomberg, Fortune, and Entrepreneur. As a sought after speaker and panel moderator at leading industry conferences, Lorna presents on the current state of workplace wellbeing and engagement. 

Lorna is a member of Forbes Human Resources Council and a frequent contributing author.

Today we discuss:

• The importance of Purpose as today’s main currency
• How to unearth purpose in the hiring process & beyond 

Challenge today?

• Insides match your outside
• Create a high performance culture
• Connect mission vision & culture
• To drive results to not move away from humans but toward it
  • Cost of not caring is the failure of your business
• Creating a safe place to be (psychological safety) 

Why is this important to the company?

• To keep your people you need to treat them with empathy
• Silent revolution (they will just walk out)
• People do not want to feel alone (feel like they are part of the tribe)
• Companies on the fortune best places outperform the s&p 500 by 2:1
• 40% of employees report that managers have not asked them how they are doing through the pandemic
• Appreciation & interest as a person translates to a 7x increase in innovation 
• 61% of employees will take a lower salary for better benefits
• Empathy is the new company sexy

Rick’s Nuggets

• If your understanding the person then you are transactional, and deserve to lose 
  • Selling, pitching, focusing on compensation
• Understand a person’s career wounds first
  • “What’s happening in your current role that has you open to hearing about something potentially stronger?” 

How do we solve the problem? 

• State your commitment
  • I'm committed to you and here's what I am going to do 
  • Living values inside & outside the office
  • People need to feel safe and valued (psychological safety) 
• Link their needs what you are going to deliver
  • Listen & accommodate  
  • Coping accommodation -  digging into tactical solutions
  • Create personal/ family time
  • Survey on policies and adjust  
• Provide tools
  • Digital tools to support healthy lifestyle
  • On demand on phones
  • Incentives for programs 

Rick’s Nuggets

• Structure first!
  • Build your interview process around your company VALUES
• Take advantage of the “discovery call” to build trust
  • Understand everyone’s pain, desire, & impact
  • Ensures people will show up for your interview

Key Takeaways -Value:

• 3 tiered stratification model 
  • What did you sacrifice that may have damaged your culture
  • What is your competition doing?
  • Transformational thinking

Guest Links:

Lorna's Book: It’s Personal: The Business Case for Caring, thoughtfully examines the Human Connection Movement™

Lorna Borenstein: LinkedIn   Twitter

Company: Grokker  Facebook  Twitter  Instagram  YouTube

 

This show is proudly sponsored by Criteria Crop