The Hook Factor – Why do professionals go to work?

5 April 2011

By Pia Lee

Everyone needs a reason to get out of bed in the morning. Making money, creating shareholder return, or general commercial success – is a given in any business, but people really want more. So what is beyond quarterly targets that can become a deeper reason for arriving at work with a spring in your step?

Walt Disney has a history of positive culture and high employee engagement – its corporate ‘purpose’ is to make people happy. KPMG Australia’s is to turn knowledge into value for the benefit of their clients, people and the capital markets.

 This is called the ‘hook factor’.

A recent analysis by global HR consultants Hewitt Associates shows that employee engagement and morale in the workplace are in a significant trough post the GFC. Their research indicates 46 percent of the global organisations polled experienced a decline in employee engagement levels in the quarter ending June 2010, whilst only 30 percent saw an improvement. As an employee’s willingness to work has long been linked to commercial success, this is a problem.

The employees may be giving enough to the organisation to stay in a job, but no more. They exist ‘under the radar’. This ‘presenteeism’ is perhaps the most pernicious as it is invisible and, worse, those feeling it don’t leave!

Leaders in stretched businesses often believe that salvation from challenging times is best achieved by working their people harder. It’s a Victorian work ethic clearly outdated for today’s much more complex environment.

The other myth is that only salary drives performance and productivity.

It’s a courageous professional services firm, therefore, that asks not just what are they trying to achieve but ‘why’?

It’s also a wise firm that creates the right climate for a motivated employee. This rich combination provides meaning for individuals beyond making money which, in turn, ‘unlocks’ discretionary effort.

So how can professional service firms create this ‘hook factor’ and keep their staff motivated, inspired and engaged at work’?

First this is not a marketing opportunity. A firm’s ability to inspire and keep their staff motivated and interested is powerful, and goes a long way in enhancing their reputation.

A simple exercise for any managing partner is to divide your top team into two or three groups and tell them that the firm is to be closed down. They have one minute to explain to the Australian Securities and Investment Commission why they should be allowed to stay in business. Capture the key ideas and craft a simple statement that embodies them.

Now comes the hard part – the leaders should use this in all their communications and decisionmaking.

This focus on getting employees hooked on their work life is growing, not diminishing in importance. Generation Y and their successors, for example, will not put up with a toxic workplace. They expect more. They want to work in organisations that have a clear sense of why they exist and will choose them because they are aligned with a culture that cares for them and provides great careers, or because of that firm’s commitment to a sustainable future.

It is in these conditions that people give not just the most, they also give their best. This is good not just for the employee but for all partners in a firm as it gives them an opportunity to leave a greater legacy.

After all, they have a moral obligation to provide jobs where people can thrive.

Pia Lee is CEO of LIW, a global leadership consultancy based in Sydney.

You may also like

What is salary packaging?

What is salary packaging?

What is salary packaging? Salary packaging is an ATO-approved employee benefit that allows you the ability to spend your pre-tax dollars. But it can also seem quite complicated in the beginning. Primarily you get paid in return for the work you do but before this...

read more
When advisers become magicians with Centrelink

When advisers become magicians with Centrelink

    Thinking about retirement? In your late 50’s or 60’s? Wondering if you can get some of that hard earned TAX money back via Centrelink and Aged Pension? BUT YOU have NO idea where to start.     Read on, as this article will help you get...

read more
Why you should not DIY your personal insurance

Why you should not DIY your personal insurance

Personal Insurance in the 21st century is a necessary evil. I should know – I work with people everyday who need to be insured, or who are claiming on their personal insurance, and if they didn’t see the need for insurance, they wouldn’t have it.. I’m not going to...

read more
Survival guide to dealing with a redundancy

Survival guide to dealing with a redundancy

Are you facing possible redundancy? The COVID 19 Pandemic has changed our world for ever. For most people change is difficult to cope with but especially a major financial change that’s outside of your control, like forced redundancies. As I write this paper (August...

read more
Managing Money for a Purposeful and Fulfilling life

Managing Money for a Purposeful and Fulfilling life

“Most people in the world would express, in one way or another, the same sentiment when it comes to money. We all want to have a better and more fulfilling life than the generations that have gone before us. We want to take each opportunity presented to us to increase...

read more