The 5 Currencies of Work with Dr. Brad Shuck

File 16:  In today’s file, the team welcomes Dr. Brad Shuck to the podcast.  He is a researcher at the University of Louisville and a co-founder of OrgVitals, a data analytics platform.  The team has mentioned OrgVitals in previous episodes.  According to the website, it’s “the only solution that correlates and tracks organizational performance to employee wellbeing and culture, and then maps this across your organization for you to see the impact across relationships.”  It’s going to be a terrific discussion!

What is OrgVitals?

Brad co-founded OrgVitals with Charley Miller and Kristina Rodriguez.  They take data that may have been overlooked/ignored and they bring life to it.  The team helps leaders proactively put data into action.  Brad developed some intellectual property assets as a researcher at the University of Louisville.  Some of that IP is integral to the capabilities OrgVitals offers.  They are exploring ways to leverage AI along with the other data-driven insights provided to clients of OrgVitals.

What Size Company Would Use OrgVitals?

The target market is evolving.  Initially, they worked with small to medium-size companies.  However, over the past 12 months, they’ve also begun working with enterprise-size companies.  The size of the client’s organization is fairly agnostic when it comes to the opportunity and value it can derive from leveraging the innovative approaches to insights provided by OrgVitals and its data analytics.  They are literally creating “the future of work.”

What Is Happening in the Workplace Today?

Molley asks a broad question.  It’s one Brad talks about a lot these days.  There are significant trends and changes impacting the workplace, some might say, like never before.  As the evolution picks up speed, it can be unsettling for some leaders and their respective organizations.  In reality, there’s no going back.  It’s time to adapt.  As Brad comments, “There’s really no putting toothpaste back into the tube.”  The key is to recognize what’s happened or changed and then to take action on those changes.

Jason aligns Brad’s explanation with how we deal with other situations.  Namely, we need to focus on being present, here and now.  Molley comments on how leaders may wish some things could return to the relative calm of previous cycles, and yet enjoy the innovation and forward thinking of today.  It requires a fine balance if leaders are going to continue to grow themselves and those who make up their organizations. 

Dealing with Advancements in AI

Brad is excited by the changes and possibilities new technology is opening up for us.  He admits there needs to be a define ethics around the use of artificial intelligence, as well as some limits put into place as safeguards.  Nonetheless, he disagrees with those who assume AI will eventually put them out of a job.

As an example, Brad relates a conversation with another tech pioneer.  Think of the efficiencies we’ve benefitted from due to the invention of the assembly line.  It’s produced stronger numbers, while ensuring the price to the consumer was much less than it would be, if cars were still hand-crafted.  People were worried about job-displacement when assembly lines were first introduced.  In reality the demand for automobiles surged, leading to an increased demand for workers and those with more advanced skills.  Brad sees the same types of trends developing, as AI begins to take hold.  In his opinion, it’s going to be a terrific revolution.

The group discusses how AI will foster more time for focusing on communication and interpersonal connections, rather than focusing on mundane tasks.  It’ll provide more time for developing relationships. 

How We Communicate Will Change

Brad explains how he sees AI impacting how we communicate.  Just watch how differently your children communicate with their friends compared to how you did it years ago.  The adoption of technology has significantly impacted communication styles and capabilities.

The world is much different today.  It’s important that we are willing to embrace the changes.  We need to help others to learn/develop that skill, as we move toward a more connected future.

The Importance of Wellness & the Currencies of Work

Jamie transitions into Brad’s views about how wellness impacts your overall health.  The OrgVitals team has written various articles on this topic.  She asks Brad to describe what he views as the currencies of work.  They aren’t what we might traditionally imagine.

Brad defines a currency of work as something that is moving the needle on motivation, engagement, creativity and innovation.  It’s a driving force, in the workplace, right now.  OrgVitals has compiled comments and observations from thousands of people who are describing their experiences at work. 

This data has been distilled down and cross-referenced with other data Brad’s done as a University of Louisville researcher and with colleagues. 

Adequate pay is still an important factor.  This is one of the primary issues a company needs to solve relative to its workforce.  Without a solution, people will not lean-in. 

5 Other Currencies Beyond Adequate Pay That Are Moving People Forward

The first currency is stability.  Most of our current environments probably feel unstable right now.  Our political, financial and global environments are unstable.  Employees are seeking a place where there’s a sense of stability.  This might relate to simply knowing what’s expected of them at work.  Without that, people can’t begin to understand the resources they need to do the work for which they will eventually be evaluated. 

Brad describes a recent meeting with an executive team from a Fortune 50 company.  A newly promoted executive entered the room (literally after having been promoted minutes earlier).  There were obvious indications she was unclear regarding expectations and other vital factors.  It was a bit uncomfortable for the newly promoted executive, as well as for Brad.

It’s important to understand the “artifacts of stability.”  Where are the communication channels?  How does an individual identify those things on which they can depend, within an organization that is swimming in instability?  It’s incumbent upon leaders to find a way to instill some sense of stability, for the benefit of those who are committed to the overall success of the organization. 

The second currency is flexibility.  Managing return to work is a big issue for many employers.  Setting the right policy seems to be a challenge.  Brad describes flexibility in terms of having agency in one’s work.  Does the individual feel even a small sense of control (e.g. agency) in how the work gets done and where it gets performed?

Brad recommends rather than talking about where the work gets done (regardless of whether it’s remote/hybrid/etc.), instead we should be talking about accessibility and agency.  Where we can afford that for employees, we should do that.  Adopting this position can be a competitive advantage for organizations.

Jamie adds perspectives about how she coaches organizations to start with their customers and work backwards.  Open your eyes to the fact that each role has a customer-relationship with the others in the organization.  Do you understand your “customer’s” expectations?  If you can meet the expectations from where you want to work, maybe you’re in the right location (home/hybrid/etc.). 

The risk to flexibility is boundaries.  Organizations need to embrace the fact that not everyone is on the clock, all of the time.  Jamie and Jason describe an approach to staffing at retailers.  The employees listed the times they’d be available, and then the manager would open up the gap-hours to other employees who would be willing to work at those times. 

The third currency of work is integration.  Brad relates this to the various areas of life that have not traditionally be included in the value proposition of work; but now are.  It’s impacting how employees are thinking about their work.  These areas include our health and wellbeing, our families, our community engagement and how we connect with people outside of work.

Jason describes how his company operates remotely, across 8 cities.  When asked how he knows what his employees are doing, the answer is simple.  If the job gets done, then they must be doing what they needed to do.  It’s about client satisfaction and results.  Our work-styles have changed.  That change, however, opens up opportunities to accomplish other important tasks related to our personal lives.

Brad comments about how people are now asking whether it’s worth it to forego opportunities such as going the gym or coaching soccer?  Is there a way to extend the timeline to enable people to make different decisions about the traditional value proposition?  It’s something leaders are being forced to grapple with on a macro basis.

The fourth currency is purpose.  The importance of purpose has taken on a more critical factor.  Meaningless tasks are being rejected.  It’s led to the increase in quiet quitting and minimal Mondays.  Brad observes that the idea of purpose is a north star for many people in the workplace and in other areas of their lives.  Expecting people to just do the job because they should, isn’t enough.  Supervisors, managers and leaders need to focus on explaining how the work is impacting the overall objectives of the organization.

Interestingly, Brad says it’s not so much as explaining the meaning as it is in not killing the meaning.  He uses the example of a new teacher on her/his first day verses that same teacher 5 years later.  At the outset, the individual saw clear meaning in the work.  Over time, unfortunately, that meaning gets diminished or crushed.

If you want to instill a sense of purpose in someone’s work, you have to tell them about the positive impact they’re making.  Remind them of it as often as possible.  Jamie adds that this is a good reminder for managers who need to refocus their teams on the common objective/goal/benefit of what they are tasked to achieve.

The fifth currency of work is belonging.  Brad’s wife is quoted as saying, “We can do hard things together.”  That sentiment is much different if we feel isolated or alone.  That’s when doing hard things becomes a much harder task.  If we can develop a community of others who have proven they have our backs, we can make it through much more difficult situations, together.

How can an employer foster a sense of belonging?  Jamie recommends listening to File 8 dealing with onboarding.  Another recommendation is to focus less on items around the workplace, such as a ping pong table.  Instead demonstrate that you understand your team has lives outside of work. 

Resist the temptation to try to rank the importance of the 5 currencies of work.  Rather, begin to realize that they are factors in shaping how work is being experienced. 

Brad returns to Jason’s question about fostering a sense of belonging.  His recommendation is to have a meal with individuals in your organization.  Breaking bread and sharing time with people can be a game changer.

The Bonus Currency of Work

There is a sixth currency that Brad sees emerging in the workplace.  It’s the area of wellbeing.  New research indicates suggests work can exacerbate your risk for long-term, chronic diseases.  It’s not surprising.  Brad describes a 3-year project that compiled and analyzed data to show how someone’s risk is either elevated or decreased, based on biological data combined with social science data around the workplace experience.  The findings are groundbreaking. 

In closing, Molley comments on the reality that being a business owner or C-suite leader are the loneliest roles in a company.  The solution is to surround yourself with people whom you trust to be vulnerably honest with you.  Without them, you’ll fail because you can’t do this on your own. 

We’d like to thank Dr. Brad Shuck for joining us on the Workforce Therapy Files podcast. 

That’s where we’ll leave the conversation for today.  Before we close the file, we invite you to reach out to us with questions, suggestions or other comments.  We’d love to hear from you.

 

Need Help Supporting Your Company’s Recruiting and Staffing Goals?

We’re here to help.  You can contact us via our individual websites, depending on your specific needs or questions:

·      Jamie Swaim, SPHR – www.ParcelKnows.com

·      Molley Ricketts – www.IncipioWorks.com

·      Jason Heflin – www.CrowdSouth.com

 

We hope you found this file insightful and helpful.  Thank you for listening!