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Investing in Psychological Capital- Maximizing Yourself and Your Talent Pool

– Written by W. Coby Milne – Director of Roman 3 Operations

I have an incredible investment opportunity for you. I’m asking you to consider investing in Psychological Capital, also known as PSYCAP.  PSYCAP is a form of capital that involves the personal resources people bring to their jobs.

Now, before you dismiss this as a type of investment scam, stop reading and close this article, hear me out.

An investment in your own Psychological Capital, and in the Psychological Capital of those who work under you, can create amazing personal, professional and financial return.

Hopefully, I kept your interest. Let’s see where this journey takes us.

A little about me

In my work history I used to teach Workforce Navigation and Psychological Capital development to unemployed and under-employed people in Nova Scotia’s rural Annapolis Valley. I now provide corporate training to industry, governments, and nonprofits. My students former were going through different levels of career transition and are all trying to be more competitive job candidates and stronger employees. My former students are probably the most diverse that you can imagine in terms of education, skill set, cultural background, disabilities, age, and career goals. So when I say this is a universal investment opportunity, I mean what I’m saying.

The focus on Psychological Capital in my work came from a shift in the culture from where I used to work. Our focus used to be to make people really good at finding jobs, but as we started to support more services for business, we realized that we were only making good job seekers, not good employees. This led to my team re-evaluating our approach and methods. We ended up throwing out everything we took as standard practice and completely starting over. This led to copious amounts of academic research and a wide range of business needs assessments. All of this investigation led us to a unanimous conclusion. We found that in order to increase the capacity and employability of employees, we needed to increase their value add (capital) in the job market.

This is the basis for the concept of Human Capital: the economic value of an employee’s skill set. So the new question was the simplest, yet most difficult: How? How can we increase people’s capacity and employability, in a meaningful and efficient way?

Investing in people

This is what led us to the concepts of Psychological Capital. Psychological Capital is simply understood as the positive union between the cognitive skills of Hope, Efficacy, Resilience and Optimism (easily remembered as HERO). The idea is if you can build and strengthen these skills in yourself or your business, you can significantly increase your competitive advantage in your marketplace (business or job), embody the concept of “Work Smarter, Not Harder” and considerably increase achievement capacity.

This new found information and direction was a real game changer for both our students’ efforts and our own careers. Our employment rate for students jumped from around 65% to a little over 80%, but most significantly, our employment retention (the ability to keep a job for at least the length of the probation period) jumped from 68% to 93%! This success was consistently reinforced with multiple iterations of our training program, delivered to almost 150 students over a two year period.

With a focus on Psychological Capital, the graduates of our program were more quickly promoted than in past programs, they reported much higher job satisfaction, and were able to recover from jobs that didn’t work out and find another job much faster.

How do you build these skills?

This is a much more complex question. In building our program, curriculum and research models, we were fortunate to have a diverse team. We had people with extensive HR backgrounds, expertise in business services and needs assessments and, my value add, cognitive skill development. The specific details are too much to include in this article, but feel free to contact me with any questions you have.

What I can share at this time are our guiding principles. These were the foundations for every step along the way.

Hope Theory – (Hope)

Create a culture that supports two basic, yet essential ideas.

  1. Pathways – There is more than one way to achieve a goal and success looks different to different people.
  2. Agency – You have the capacity to effect change. Your actions and efforts matter; in fact they are often all that does
Experiential Learning (combined with Flooding) – (Efficacy)

While I’ve covered this elsewhere (Three Essential Elements for Effective Training), it’s worth revisiting the three key approaches to adult learning:

  1. Rote learning– focuses on learning specific content, understanding steps and processes, for example, how to format a resume.
  2. Reflective Learning–working with information and ideas to get students really thinking about themselves, their pasts and their biases. This approach provides perspective and hopefully will encourage growth. A sample of reflective learning would be considering how negative thinking and biases hurt mental resilience.
  3. Experiential Learning–where students are immersed in the learning and experiencing the value of the tips, knowledge and understanding they’ve gained. One example of experiential learning would be mastering the steps for high level problem solving by making a survival plan after a theoretical plane crash.

Our program utilized the best learning approaches to meet the students’ needs in achieving our training outcomes. We wouldn’t use experiential learning just because it was fun, we would only use it if it had real value in helping learners learn. We combined experiential learning with a process used in Cognitive Behavioural Therapy, called flooding. Flooding involves getting people to move out of their comfort zones by placing them in situations where they need to push themselves beyond their usual limits. An example might be building conflict resolution skills using specific scenarios and increasing the complexity of the scenes to go beyond the normal, typical situations they would commonly encounter. If they can handle the most challenging scenarios, then the everyday ones will seem easy by comparison. The principle is similar to practicing lifting weights that are heavier than you need to lift, so when you are lifting your targeted weight, it seems much easier.

Let Yourself Fail – (Resilience)

We did a lot of research around Growth Mindset and rewarding the making of an authentic effort over the achievement of results. Growth Mindset is a concept best described by researcher Carol Dweck, who said, “people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment.” The theory goes that failure is a mindset, not an inevitable outcome. In a Growth Mindset, failing is not seen as the mistakes or the wrong choices we make.  A failure is framed as letting the mistake or the wrong choice define us.

Realistic Expectations – (Optimism)

We may have been told things in life like, “if you can dream it, you can do it” or “shoot for the moon and even if you miss, you will end up among the stars.” These motivational quotes sound nice, but can do more harm than good. We need to accept the reality of our situations and be realistic with our optimism. Our role as trainers and educators is to help our students recognize their strengths, assets and professional value, but also realistically see their baggage, limitations and weaknesses. Our students need to know and accept all of these aspects of themselves as the cards they’ve been dealt.  With this knowledge, they can start to play their best hand.

Improve your efforts moving forward

Throwing out our previous work and questioning the foundation and guiding principles of our industry was a huge risk and, to be honest, pretty scary. But even we couldn’t predict the positive impact it had on our students. Also, we’ve consulted with other organizations and businesses on their professional development efforts, and encouraged them to consider incorporating a PSYCAP focus. They’ve reported great successes and momentum building, plus a renewed structure for intentional training.

Teaching to build PSYCAP is all about maximizing the potential of the learners.  You don’t have to hire for talent if you can build it in house. Instead of being a hunter and gathering new talent, farm the talent you currently have and grow it to feed the success of your business and your efforts.

 

Roman 3 is an advising and solutions firm that specializes in inspiring progressive action, creating a culture of innovation, and assisting organizations in implementing transformative change. We help you build capacity, collaborate, be progressive, and grow to your full potential. For more information on our services and support check us out at www.roman3.ca 

Identifying the Fertile Soil for Strong Leadership

The impact of leadership

I think we’ve all seen and can easily identify poor leadership. I’m sure at one point all of us have experienced poor leadership, whether it was in our youth on a team or in a club, in our supervisors at work or in our government or communities. There are many examples of great teams, businesses and communities that falter or never meet their full potential because of poor leadership. This speaks to how crucial strong leadership is to success and development.

Most of us think of leadership as a top down hierarchy and something that is fixed by those in the higher positions. In most cases it’s true that leadership rests with those at the top. The impact and success of everyone involved is often dictated by the skill and competency of those chosen to lead. So a strong understanding of what constitutes leadership is important for both those chosen to lead and for those expected to follow leaders.

Let’s look at some famous quotes and see what we can pull from them to get perspective on good leadership.

“As we look ahead into the next century, Leaders will be those who empower others.”
– Bill Gates

Empowerment is this century’s leadership (that’s a common aphorism of mine, heavily borrowed from Mr. Gates).  This idea is meaningful in pretty much every situation, from employers empowering their employees to be the best at their positions, government empowering its citizens to thrive and improve their lives, or sports team captains empowering their teammates to go the extra mile.  The need to consider empowerment as an essential component of leadership is increasingly becoming of critical importance.

“Leadership is not about being in charge. Leadership is about taking care of those in your charge.”
– Simon Sinek

This is a personal favorite of mine, especially when you’re talking about organizational leadership. In a company or organization, supporting and developing the skills of those you are required to lead is, in my opinion, the essence of good leadership. This idea aligns well with a leadership focus on empowerment. When you lead, you are committing to bringing everyone up together–not standing on the heads of those who follow you.

“Remember the difference between a boss and a leader; a boss says “Go!” a leader says “Let’s go!”
– E.M. Kelly

Collaboration and the ability to build strong relationships and partnerships are key elements in effective leadership. Whether those relationships are built internally or externally, leadership is about being a part of something greater than yourself and being able to inspire others to follow you. This brings me to another personal motto: Influence is greater than power. When you wield power, others are compelled to follow you; with influence, people choose to follow you.

A good leader takes a little more than their share of the blame, a little less than their share of the credit.”
– Arnold H. Glasow

Humility and integrity are other important foundations of leadership.  This includes owning the mistakes and missteps and giving recognition for the efforts and talents of those with whom you’ve collaborated. In many ways, I believe this is generally a key missing piece in political leadership. Too often people are focused on self-preservation and keeping in the good graces of those who put them in their leadership roles and will too will often sacrifice their integrity to maintain their status.

Lead from the side

Another important element to consider is that leadership doesn’t have to only be top down. Leadership is not about a position– it is more about actions. In circumstances of poor, hierarchical leadership, the actions of those lower down in the hierarchy can introduce the qualities of supportive empowerment, collaboration, influence, humility, and integrity that can provide leadership from a peer or mentor level. This can be encouraged by modeling the qualities of good leadership with your co-workers and clients, and cultivating an environment of appreciation, transparency and support. Making room for leading from the side can create meaningful and lasting change and progress. Admittedly, it is an uphill battle to bring organizational change from the side or the middle, but the point is, leadership doesn’t have to only happen from the top down. There are often great leaders who empower and inspire others from the break room table, the next cubicle over or at the water cooler. If we all know what those qualities look like we can empower those who empower us.

 

Written by W. Coby Milne – Partner at Roman 3 Solutions Inc.

Roman 3 is an advising and solutions firm that specializes in inspiring progressive action, creating a culture of innovation, and assisting organizations in implementing transformative change. We help you build capacity, collaborate, be progressive, and grow to your full potential. For more information on our services and support check us out at www.roman3.ca 

What an Indispensable Employee Looks Like

Intrapreneurs, The Heroes of the Workforce

I spend a lot of time working with and teaching highly skilled and highly motivated people, young professionals and experienced professionals, entry-level workers and high-level executives, technical focused and people focused; a really wide range of people. Of all the different kinds of people I deal with on a regular basis, the most welcoming and exciting to work with have to be the Intrapreneur. For those of you who are not familiar with the Intrapreneur; they are people who exhibit the personal drive, dedication, professional pride, and intrinsic motivation and are the hallmarks of successful entrepreneurs, except they choose to work within an organization or business. These are the people who work in a company that makes other people wonder; “With their skill and drive, why they haven’t started their own business?”

Intrapreneurs are the heroes in their company who are not necessarily in it for the money or prestige, they are motivated by a need to seek innovation, solve problems, and, most often, they believe in what they do, and they look to do it better. Intrapreneurs are often the backbone of a successful company, if a company creates an environment where Intrapreneurs can thrive, be recognized and given more responsibility to create a larger impact then they will lift the company beyond anyone’s expectations.

 What makes Intrapreneurs?

Developing Intrapreneurship is really not that different from developing a garden. You need the right materials, the fertile soil to get started, and the right resources to be nourished.

In this sense, the right materials are likely within the personality qualities of the person.  As someone who researches and teaches topics around cognition and skill development, in my professional opinion, these qualities are best identified in the Big Five Factors personality traits. This is part of the foundation of Personality Psychology and an excellent inventory of the qualities that make us who we are. The main quality strengthens that are needed to create an Intrapreneur would be:

Openness

-Adventurousness (prefers variety and trying new and different ways to do things)

-Intellect (likes complex problems, enjoys going in depth with complicated ideas)

-Liberalism (avoids convention, tends to not be satisfied with the status quo)

Conscientiousness

-Self-efficacy (has the confidence to take on tasks and successfully complete them)

-Achievement-striving (self motivated to work hard)

-Self-discipline (will complete tasks, regardless of how distasteful)

If you would like to test yourself against the Big Five Factors and find your score on the above traits, among many others, you can take the actual IPIP-NEO assessment that is the representation of the scientific assessment used by Personality Psychologist. Find the test here.

What environment is needed to develop an Intrapreneur?

Going back to the garden analogy, what is the fertile soil to plant the budding Intrapreneur? Basically, flexibility is key. An environment where there is not just a linear process to accomplish outcomes, where there is a way to fine tune and improve processes or look at new ways to create efficiencies. The Intrapreneur is all about ideas, sees the angles, and wants the flexibility to pursue the best option.

Another essential piece is the resources to be nourished; the key to this is really access. The Intrapreneur needs to have access to information, equipment, and support to develop the idea or solve the problem. Access can be the greatest form of appreciation for the Intrapreneur, as it is not just lip service to their efforts and potential, but a tangible endorsement of their efforts, which will be key to keeping a successful Intrapreneur at your company.

The Takeaway

We have all seen Intrapreneurs in action; they are the indispensable co-workers who we know will go above and beyond and find better ways to do their job. It’s the person who works for a company we regularly deal with and enjoy interacting with because they take pride in what they do; they are self-motivated. If you have ever dealt with someone and have been impressed with their ingenuity, commitment, work quality and thought to yourself “this person is going places” then odds are you have been dealing with an Intrapreneur.

Intrapreneurship needs to be fostered, cultivated and appreciated. They are essential to the growth and sustainability of any organization or company. The reality is that human capital is the most important resource to any business and Intrapreneurs are the gold standard that gives any business its greatest value.

 

Roman 3 is an advising and solutions firm that specializes in inspiring progressive action, creating a culture of innovation, and assisting organizations in implementing transformative change. We help you build capacity, collaborate, be progressive, and grow to your full potential. For more information on our services and support check us out at www.roman3.ca 

Are Your Efforts Creating Empowerment or Dependence?

So you are looking to better a situation

There are many, many people out there who commit either their free time or career or both to helping others. These are the altruistic people who are determined to make whatever situation they are passionate about better for all involved. I have seen these people throughout my career, from my days working with children with disabilities, to my work in the non-profit sector, to my more recent role in economic development. In fact, I am someone who is passionate about helping others and improving the lives of everyone in the communities where I live and serve. Often one of the side effects of those who work in roles to make positive change and help others is professional burn out. People who are committed to improving the lives of others often do it at the expense of their own. It’s a kind of the double-edged sword of altruism. The sad reality is, there is always more need than time, resources, and people to provide it. This is often the case because we look to do things for people in the short term to support them, causing the habit of continuing to do things for them, creating a dependence from them, and a never ending need to help them. This is where dependence starts to stack up and become never ending. And thus professional burn out.

Teaching people to fish

It makes sense that when we want to help people, we do things for them. It is a direct line of cause and effect. Someone is in need of help, so we do something for him or her that will help, simple. The problem becomes when we are always doing things for people, and not with people. This takes me back to early in my career when I was working with children with disabilities. I worked with a lot of well meaning people who would do things like typing up notes for students with weak fine motor skills, which seems like the nice and helpful thing to do. The student has trouble typing, so you type for them…simple. The problem with helping them in this fashion is that you are creating dependence. The proper thing, though it appears less nice, is to give the students a portion that they are responsible to do, and you take a portion that you are responsible for. Then over time you adjust the potion to give them more and more, and hopefully one day all. This is about creating independence. In a similar path, in community and in economic development when there are people, businesses, and organizations that require support and assistance the nice and helpful thing to do to take their problems and do the work that they require to be successful. Although, the proper thing, though it appears less nice, is to build resources that will give those in need the tools and supplies needed to support themselves. All of this is really just the practical application of the old adage: Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.

If you take all of these words of wisdom, approaches, and advice and you boil everything down to its basic core, what you are talking about is empowerment. This is a term I use on a daily basis and have for many years. From education, to career and workforce development, to community and economic development, everything is about truly empowering others. If you create the interventions and resources that people need to lift them up in their time of need, give and teach them to use the tools and supports that will improve their situation, share the workload with them so they are gradually taking on more responsibility, then you will watch them be successful on their own. Its nothing fancy or complicated.

Empowerment is universal, but so is dependence

There are really very few situations where empowerment is not an ideal method to support others. It is the foundation of good education, human resources, community work, economic growth and healthcare, just to name a few. However, we sometimes get caught up in the short-term solution and look to create temporary solutions that end up creating dependence. We see this all of the time when we unintentionally sacrifice what is right for what is easy. This can look as simple and common as not properly training our pets to greet people at the door when they are young and then we need to isolate them or pick them up when we have company arrive. This can also be as large and complicated as when a community becomes dependent on a single industry or large business. If the majority of their employment opportunities are tied to a single employer, without diversifying, the community ends up in a critical situation if that employer were to shut its doors. Large or small, inconsequential or critical, it doesn’t matter, creating dependence is nothing short of setting yourself up to fail.

The Key to Empowerment: Sustainability

What you are doing when you look at empowering others is you are playing the long game to a sustainable solution. Your efforts are geared toward not only the short term need, but the long term benefit of your efforts being an intervention, not creating a permanent and ongoing job or role that will always need to be filled. This is why in my career I have always defaulted to the majority of my efforts being in resource development. Spend the time, effort, and money to create something that will be able to wean someone’s dependence off you, and that can be used over and over by others who require the same support. This is why in my student support role I would create guides and games to strengthen things like typing skills in my students. In career development, I would design progressive experiential learning processes to strengthen skill in communication and independent job search. In economic development, I would focus on processes and information that would support the independence of entrepreneurs. Creating sustainable interventions is critical to building up and empowering those you serve.

The Takeaway

One of the hardest things to do is to not come to someone’s aid when they need you. It appears cold and callous to then help them with a plan to limit your help over time and to give them tools that they need to do it for themselves. However, messaging and methods of delivery aside, it is critical to look at help and support from a long term, sustainable approach. Just like in parenting, we need to do what is right, not what is easy and be focused on what is the best thing for the future. Doing this will truly help by providing support and encouragement while they become empowered to do more and more things for themselves. Otherwise we will metaphorically and literally have them living in our basement until they are old and grey.

 

Roman 3 is an advising and solutions firm that specializes in inspiring progressive action, creating a culture of innovation, and assisting organizations in implementing transformative change. We help you build capacity, collaborate, be progressive, and grow to your full potential. For more information on our services and support check us out at www.roman3.ca