The “knowledge economy,” coined in 1967 in Peter Drucker’s The Effective Executive, has marked the transition from the production-centric model of the Industrial Age (think Henry Ford’s assembly line) to a new structure focused on intellectual output from employees.
This shift has, of course, transformed human resources management.
One could argue that the knowledge economy has ushered in HR’s renaissance, evolving from a one-dimensional focus on singular tasks and outputs into a practice that increasingly mirrors the multidimensional complexity of human beings and “our heads” (to use Drucker’s words).
Brilliant minds and leaders have articulated many of the traits, best practices, and organizational mindsets underlying the knowledge economy: specialization, trust, strong culture, and contribution, to name a few.
But in many ways, one can think of each of these facets as another channel through which to “engage” an employee. And companies with engaged employees see 87 percent higher retention and 202 percent more revenue (among other benefits).
In Essentialism, Greg McKeown expounds on the important practice of doing fewer things better. To reach our “highest potential contribution,” McKeown suggests that one of the most important requirements is our state of mind and, by extension, our relationships with others.
Across the spectrum of the knowledge economy’s workforce, the impact of human relationships and emotional culture remains fundamental. To wit: Employees with a best friend at work are seven times more likely to be fully engaged at work.
And while there might be many workforce characteristics from previous eras that we should celebrate shedding, this basic element is one that requires greater investment.
Think of it this way: How many call center employees are excited to go to work every day because of a new technology for making more phone calls? How many consultants get out of bed because they can’t wait to try the new CRM?
How we perform our work is certainly important. But building relationships beyond the work itself is what powers organizations in the knowledge economy.
Human connections can take many forms: Feelings of purpose and contribution, the friends you work with, shared interests and passions among colleagues and with the company. Here are five (5) ways to make human connections evident to your employees:
Do you make these connections a priority in your company’s emotional culture? Do your employees feel connected to one another — or their company?