As human beings, we are all creatures of motivated self-interest. That’s right, we are all egocentric. Sounds pretty cynical, doesn’t it? But it’s not. It’s just the way we’re wired and the way we make decisions. Should I do this or that? Should I pick A or B? Should I turn left or right, or should I just keep going straight? What will give me the best result? It’s all about me and satisfying my needs. But that’s not all bad. In fact, it’s often very good. Let’s say I help a little old lady safely cross a busy street. How can that be a selfish act? Because (maybe unconsciously) I get a feel-good rush when I help others. It helps me keep my “good guy” self image in tact. So yeah, it’s all about myself, but it’s not just about my material self, it’s about all my selfs . . . my spiritual self, my family self, my professional self, my social self, and on and on. Everything you and I do is aimed at protecting, bolstering, or satisfying the needs of all those selfs.
OK, so what does all this have to do with business? For that answer, please read below.
Even in this texting day and age with all it’s abbreviations, some won’t recognize WIIFM. It stands for “What’s in it for me?,” and we deal with it every day in business. Our customers want to know “What’s in it for me” if I do business with you. So all of our advertising, promotion, and customer contacts are aimed at answering that question. That question also becomes the hurdle our own vendors and suppliers must get over. And of course, that question goes both ways in our hiring process. The employer wants to know “What’s in it for me, Mr. Candidate, if I hire you?,” in terms of skills, training, and experience you will bring to us. And the candidate wants to know “What’s in it for me if I come work for you?,” in terms of pay and benefits. Unfortunately, where employees are concerned, that “What’s in it for me?” conversation often ends on the day of his or her hiring.
We live in a time of rapid change . . . changes in our customers’ needs, changes in competition, changes in technology, changes in our processes and procedures . . . and the pace of change is accelerating and will continue to accelerate. Our businesses, and therefore our employees, must adapt to these changes or we risk falling behind and ultimately, failing. The problem is, as jobs become more complex, demanding, and stressful, employees are asking, “If I shoulder this burden you want me to bear, what’s in it for me?” But that question isn’t always being adequately addressed by business owners.
At the height of the recession when layoffs were everywhere, surviving employees were being asked to pick up the work of one or two, maybe even three or four, of their departed colleagues, and take a pay cut in the process. In those circumstances, the answer to the “What’s in it for me?” question was obvious. “At least I’ve got a job.” But as the business climate improves (albeit slowly), and the job markets improve (albeit slowly), “At least I’ve got a job” may no longer be an adequate answer. At some point of work-induced stress, an employee will do the mental calculus and say, “The cost to me of doing this job exceeds the benefit I’m getting from it.” At that point, the employee will begin to look for options.
So what are we supposed to do, give employees a boost in pay every time we ask them to do something? No, of course not. But over the long term, we need to satisfy ourselves and our employees that the cost vs. benefit proposition for their jobs is fair and equitable. Part of that calculation will involve, not just money and benefits, but soft benefits such as working conditions, a reasonable work week, and in general, a recognition that they have lives and interests outside of work.
A hypothetical CEO was leaving work one Friday afternoon when he noticed Old Joe still working away at his desk. The CEO thinks to himself, “Good Old Joe. He’s done the work of his entire department since we had to lay off everyone else. Don’t know what we’d do if we lost Joe. But hey, we’ve been getting by this way and we’re saving a boatload of money, so it would be silly to go back to our old, inefficient way of doing things.” So the CEO wished Joe a good evening and headed out the door for the weekend. Monday morning, as the CEO arrived and passed Joe’s desk, he noticed Joe’s chair was empty and his desk was clean except for a note that read, “Gone fishin’ and I won’t be back.”
Don’t let that happen to you. But if your employees believe you have let the cost/benefit equation of their jobs get out of balance, it will.
Rock Solid Business Development
Phone: (847) 665-9134
andy@rocksolidbizdevelopment.com
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