People and their mindsets are the backbone of business
People are the backbone of businesses, responsible for creating products and services, programming, and developing AI. As Peter Drucker famously said, the purpose of a business is to create a customer, and this requires hiring individuals with the right mindset for the job. Certain types of mindsets complement each other and play integral roles in successful businesses.
Top-performing businesses consistently hire individuals with improved mindsets over time. A+ businesses return 4.3 times on capital compared to the average of 1.5 for lagging businesses, according to McKinsey & Co. It’s due to people (mindset) and the business’s financial model.
However, understanding the complexity of the subconscious and how it affects hiring and promoting is difficult. McKinsey describes the subconscious as the stuff below the water line of the iceberg, which is hard to read. While we may have a blending of mindsets, putting the wrong person in the wrong position can lead to misery. Sociopaths, who love discipline mindsets, can often fool even experienced investors and business leaders.
The positive side of the subconscious is that when the right mindsets are blended, they can predict future financial performance. But hiring for the sake of filling seats can lead to bad decisions, as companies let in obstructionists, narcissists, and empty suits. This can set the seeds of decline, which are almost never reversed. Great leaders, like Jamie Dimon, can make the necessary changes to prevent this decline.
Measuring mindsets remotely can help businesses prevent adverse selection and promote diversity, equity, and inclusion. Remote measurement removes inherent bias in corporate hiring and promotion systems. Finding individuals with advanced mindsets is difficult due to supply and demand issues, but remotely measuring the subconscious can help find hidden talent within an organization.
In summary, a blend of different mindsets in the right positions is crucial for business success. Remotely measuring mindsets can help prevent adverse selection and promote DEI, leading to a thriving business. If you have questions about how to remotely measure before interviewing and finding highly qualified people that fit within your company, feel free to contact us.