Leaders who focus only on profit miss most of their workforce. Five sources of meaning drive people: shareholder value, self-development, team experience, customer experience, and societal contribution. Companies that tap all five deliver better long-term results.
creating shareholder value or building great institutions, absolutely, they will resonate with, you know, one group of people. But to really motivate the full workforce that you have, you do need to tap into the other 4 sources of meaning as well, which could be around self-development of people, the teams having a great experience, the customers having a great experience, and contributing more broadly to society. So, If you can tap into a holistic set of stakeholders and think about all 5 sources of meaning, the chances of being able to deliver long-term shareholder value are just much higher.
Reducing Regrettable Attrition in Organizations by Fixing the System, Not the People Reducing Regret
