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Gratitude Is Good For Leadership…But Why?

Gratitude, leadership, organizational growthWith the celebration of the US holiday of Thanksgiving, it seems fitting for gratitude to be a topic in leadership circles. And it usually is for those of us in leadership and who work with leaders. However, there is is more to this than a feel-good exercise.

The research so far…

Over the last several years, Robert Emmons Ph.D. of University of California-Davis and Mike McCulloch, Director of Evolution and Human Behavior Laboratory at University of Miami and many others have studied gratitude. The studies have found strong correlations between benefits and the practice of gratitude. For leaders, it is worth highlighting these benefits:

  • Prevents and/or reduces toxic, negative emotions
  • Supports resilience (to stress)
  • Encourages feelings of interconnectedness with people

By modeling gratitude, leaders can continuously nurture a positive organizational culture which leads to feelings of satisfaction, higher levels of productivity and fosters open mindsets. All good for responding to the ups and downs of any business.

Where does gratitude fit in with being a CEO?

As I have written on this blog before, your title doesn’t always reflect your role in your small to mid-sized business. You are the CEO with or without the title. It is more about using the CEO Mindset. Gratitude fits right in there. For a lot of business leaders, it is easy to get caught up in the day-to-day activity. Sure, there are things you must do every day but there is also a need to prioritize and even let go of responsibilities that could be done by others or simply don’t fit your organizational culture or structure anymore.

Practicing habits of gratitude fits in with being a CEO. Here are some to think about:

  • Positive mindset so you can stay open for problem-solving, new ideas or whatever may pop up during the day
  • Increased patience so you can effectively train and delegate tasks to your team, particularly when your company is about to make a big leap
  • Noticing others’ contributions and saying “thank you” makes people feel respected and appreciated. This has a  direct effect on productivity and morale
  • Increases self-awareness by taking time to examine your day and list what you are grateful for. This process enables you to notice blind spots, mistakes, strengths and moments of joy.

  These may be just a starting point but it is interesting to see how gratitude supports what you want most for your company.

Reason(s) to incorporate gratitude into your leadership style

Incorporating gratitude into your day mindfully will certainly bring health and psychological benefits for you individually. However, in your role as leader, it is so much more. Leaders are always looking for ways to support productivity and high performance from their teams and employees. These are directly connected to the bottom line. Leaders who practice gratitude avoid taking their people for granted, foster the exchange of information and cooperation and build trust. Research keeps telling us that these qualities (among others) create much stronger business results. Imagine how you could positively affect your organization when you add gratitude to your leadership style!

 Image by GustavoFrazao/Fotolia

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PESTEL Analysis- Snapshot of Your World

Skip the whole half-empty or half-full glass.  Economic news is so mixed that it is easy to paint everything with the same paintbrush. Depending on where you are, you could be optimistic that things are looking up or be convinced that the economy will never improve.

However, that’s unlikely to make your strategic plan useful. You can’t write, “It just all stinks” in big letters (even if it does). As you do a SWOT analysis, how can you get a grip on all of the factors that have an impact on your business?

Use a straightforward tool to take a snapshot of your world

That’s all a PESTEL analysis really is. You may already be familiar with this analysis as PEST, STEEP or STEP. Or maybe you do this informally within your SWOT analysis. Given all of the turbulence small to mid-sized businesses have encountered over the last 3 years, staying aware of your business environment can help you prepare for changes in regulations, respond to your customers more readily or identify emerging trends that your business is well suited to capitalize on. And like a lot of my recommendations, keeping it simple and straightforward is best.PESTEL Analysis

What factors are identified in a PESTEL analysis?

Political- This is how the local and national government might intervene with tax policy, laws, trade policies, subsidies for certain industries, industry-specific regulations, infrastructure and political stability.

Economic- It’s a given that whatever economy (or economies) that you do business in is a factor. Other things to identify within the economic factor are interest rates, changes in taxation rates or policies, inflation and currency exchange rates.

Social- Spells out demographics (age, gender, race/ethnicity, location), employee/career expectations and tolerances, population growth and national cultural trends. Keeping track of these may point to customer wants/needs or finding potential markets.

Technological- This factor includes how quickly technology changes and how your customers use technology to buy from you, technological options (mobile device applications, cloud computing, collaborative tools) that make it easier for you to get the work done internally, social media, e-commerce, research and development and manufacturing practices.

Environmental- There is an increasing emphasis on using more environmentally friendly practices and products. It may be important to your business and your industry to keep track of weather or climate changes.

Legal- Awareness of consumer laws, health and safety regulations, employment law, competition laws, international law, electronic data laws and privacy laws among others may be necessary for your business.

Not all of the factors will apply to you

As you go through each area, you and your team will notice that not everything included in each factor is applicable to your business. This is to be expected but still well worth having a complete picture of the business environment in which you are involved.

Highlights questions you need to answer

 Reviewing each factor supports finding what you and your team don’t know. It’s not unusual for a new regulation to be put in place and questions about compliance and potential penalties to come up in discussions with your team. When it comes time to do your SWOT analysis, you will be able to just plug the information into the Opportunities and Threats categories. This snapshot of your world will remove the emotional overtones and make it easier to design your strategic plan and determine which goals to act on.

About the author:  I’m Elli St.George Godfrey, a small business coach and trainer who guides established small business owners to be comfortable in their own skin. I have a deep appreciation for learning and understanding my client’s business style and culture. Visit my Services page to see how we might collaborate on a PESTEL anlysis for your small to mid-sized business or schedule your complimentary coaching session here.

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