In a season of quiet quitting and the great resignation, companies are struggling with employee retention. Unwanted turnover is overwhelming organizations across the country, negatively impacting people, profit, and progress.
According to the Quantum Workplace, the United States is on track to lose $430 billion annually by 2030 due to employee turnover.
With employee retention top of mind, it’s more important than ever for companies to cultivate a culture that attracts and retains top talent.
A Stanford University psychologist by the name of Carol Dweck began exploring the idea of mindset in the 1970’s-1980’s. She studied how the concept of mindset relates to achievement and motivation, and she discovered that people had one of two types of mindsets: a fixed mindset or a growth mindset.
Those with a fixed mindset believed that their abilities couldn’t be changed. On the contrary, those with a growth mindset believed their capabilities and intelligence could be strengthened and further developed through effort and learning. Furthermore, Dweck’s findings concluded that individuals with a growth mindset were more likely to persevere through challenges and achieve their goals.
Consider for a moment the impact that a growth mindset could have on human performance and potential. It could be a game-changer for your workplace culture.
If you look up the meaning of growth mindset, there’s no concrete definition. Although interpretations may differ, most are defined by a focus on learning and improving, a willingness to take on challenges, and a resilience in the face of failure.
Those with this mindset understand that growth isn’t linear, and success is not a destination. It’s a journey of continuous development, iteration, and self-discovery.
Fostering a growth mindset is imperative for organizations looking to increase employee engagement and satisfaction.
A growth mindset energizes your people. It makes them excited about their work and eager to lean in, engage, and learn more. It allows individuals to view challenges as opportunities for improvement. They embrace setbacks as a step in the development process.
Having a shared growth mindset as a team creates a safe, supportive work environment. This involves intentionally orienting your systems, processes, and team around cultivating growth. It’s fostering a culture of psychological safety and inviting team members to have an open dialogue with their leaders and peers. It’s having a shared goal of success, and understanding and communicating that failure is expected and will be a part of the journey in moving forward.
It is a process of iterating, experimenting, and figuring out what works and what doesn’t. It’s being open and adaptable to change and understanding that everything isn’t going to resonate with the team or with people as individuals.
Encouraging a growth mindset is about inviting team members to choose comfort in discomfort. When you’re faced with an opportunity to choose what you know and what you’ve done, rather than what makes you uncomfortable, you’ll most likely choose comfort. If you shift your mindset, however, you’ll intentionally choose to put yourself in a situation of discomfort because that’s where the growth happens.
Oftentimes, goal setting is tied to merit and there are consequences for individuals that don’t achieve their goals. This causes employees to set goals they know they’re capable of achieving. They’ll shy away from challenging themselves and setting bold goals. They’re motivated by fear and comfort rather than by the belief or mindset that they are capable of more than they know or have previously done.
To cultivate a growth mindset culture, leaders need to encourage their team to set bold goals and challenge their potential. This will lead to higher achievement, greater satisfaction, and better business outcomes.
Shifting your mindset from fixed to growth is more than just putting an inspirational quote on the wall. It’s about choosing to be bold and learning when we fail. It’s about being intentional and embracing the journey. It’s about getting 1% better every day.