There are two ways of looking at employees, and for them to look at themselves, either a fixed mindset where they either possess or lack talent, or a growth mindset, where your team can develop new skills. An article in the Harvard Business Review, “How Companies Can Profit from a ‘Growth Mindset’” by Stanford’s Carol Dweck, shows the benefits having a growth mindset has for your company.
According to Dweck’s research, failure is the end of the world for some people but an exciting opportunity for others. People with a growth mindset enjoy challenges, strive to learn and consistently see potential to develop new skills. Conversely, those with a fixed mindset view talent as a quality they either have or do not have.
In the article, Dweck extends her definition of mindsets from individuals to companies. Dweck and her colleagues found that some organizations believe their people have a certain amount of talent, thus a fixed mindset. Others held the opposite view and those companies were considered to have a growth mindset.
Dweck also found the company mindset had a significant impact on its employees. In organizations with a fixed mindset, employees largely felt there was a handful of “star” employees that were highly valued. The employees who felt this way were less committed than employees at growth-mindset companies and did not think the company had their back. These employees worried about failing so they pursued fewer innovative projects. They regularly kept secrets, cut corners and cheated to try to get ahead. Continue reading “Foster a growth mindset in your company to improve growth”