Weak Integrity Got Us Into This Jam – And Strong Integrity Can Get Us Out
The current economic crisis is a result of integrity failures: Many people did not live by their word. Financial executives, lobbying for deregulation, said they would self-police. They didn’t. They wrote mortgages and issued credit cards, assuring their customers that the payments were manageable. They weren’t. I am no finance guy, but I knew that a variable rate, interest-only mortgage is a very, very bad idea. Surely those whose business it is to know that also knew. Downstream, finance gurus created products that systematically understated risk and overstated earnings. They knew better.
They were all gaming the system. Looking for loopholes. Looking for the ridiculous twist of the rules that magically makes you a winner. According to their still flush bank accounts and high salaries, perhaps they were right.
But the rest of the world is noticing that perhaps they were not. We have had enough gaming. Time for a little straight talk and hard work.
There is nothing more fundamental in business than this question: “How good is your word?”
Without Integrity Nothing Works
by Bruce Hodes, CMI Teamwork
Wow, what a month. I, like some of you, have certainly lost value in the stock market. When looking at the next 12 months, the view is fuzzy at best. The media buzz saw has never been louder. So as a business owner and entrepreneur, where am I to stand when the very ground under my feet seems to be moving and shifting?
I belong to a training and development organization and we have a saying: “without integrity nothing works.” I find this statement to be inspiring and worth investigating. Let’s begin exploring this. First, what is the meaning of integrity? Second, what is the meaning of work? Third, how do they connect and what does this have to do with business?
Webster’s defines integrity as 1: incorruptibility 2 : an unimpaired condition : soundness 3 : the quality or state of being complete or undivided : completeness.
Webster’s defines work as: 1: activity in which one exerts strength or faculties to do or perform something: a sustained physical or mental effort to overcome obstacles and achieve an objective.
For me, having integrity is doing something as it is designed to be done and as it is expected by others to be done. Let’s say you are going to do something and you are going to do it the way you want but not the way it is expected to be done. For it to have integrity, you would simply let others know how you are doing it. It may have consequences and an impact, but for me, it would have integrity.
Cover Story for Ithaca Business Journal
Feb 20, 2009
Reviews are In…
From a workshop Charles Feltman and I did with Thayer Lodging. We were brought in to an already very well-functioning company because their co-chairman agreed with the integrity dividend premise that excellence starts with integrity. Our one-day workshop focused on how to make and request commitments in a way that enhances organization-wide follow-through and impeccable delivery on promises. A little over a month after the workshop, they met with their team to see how the session worked. Here is the letter we received:
The senior leadership team at Thayer Lodging Group each read The Integrity Dividend, after which we participated in a one day seminar led by Tony Simons and Charles Feltman. The book has a powerful message, is well-written, and clearly made the case for keeping your word and closely managing the commitments you make. The workshop reinforced the message and created a framework for the team to support each other in managing commitments and improving the processes by which we work together.
What we did not expect was the reaction after the workshop. Several weeks later, we called the participants together and asked them for their evaluation. What we heard truly surprised us. People broadly reported much higher levels of job satisfaction, less personal stress, greater sense of freedom and a much greater sense of accomplishment. Participants noted a significant decline in the level of frustration, and a higher level of personal optimism, despite the difficult business conditions present at the time.
The smiles around the room were enthusiastic and sincere as people shared how they felt about themselves and their experiences of dealing with each other after the workshop. Truly a transformation had occurred, and is continuing to occur as we work together more and more effectively.
–Lee Pillsbury, Co-Chairman & CEO, Thayer Lodging Group
–Bruce Wiles, COO, Thayer Lodging Group
Credibility is the Coin of the Realm…
Originally appeared in:
Credibility is the Coin of the Realm
By Tony Simons
| …If you want to lead, or buy, or sell.Have you ever worked for someone whose word was absolutely his or her bond? Have you ever worked for someone who was not so constrained by what was said yesterday? Living true to your word is not all it takes to lead; but I propose that no leadership happens without it.
Leading is about engaging your people’s hearts so they can bring all their resources to bear on the challenges before them to go the extra mile. They won’t let you close to their hearts if they cannot count on your words. Likewise, buying and selling are relationships of trust, and the deeper the trust, the more efficient the transaction. Yet, we all undermine our credibility in a thousand small ways everyday: by small promises broken; by presenting ourselves as holding the values to which we aspire, rather than the values that truly guide our actions. We hear about it when we violate our word in a big way. We do not hear about it when we do so in small ways. The small ones, however, add up. I call the alignment between words and actions “behavioral integrity.” Keeping promises and showing the same values you talk are critical components. Where employees see greater behavioral integrity in their leaders, they work better, and they make the company far more profitable. I have measured this bottom-line dollar impact, and it is huge. I call this The Integrity Dividend, and I named my book after it. My argument is not about ethics. It is not about liking yourself more, or creating a nicer place to work, or being a more decent human being, all of which are side benefits. It is about managing your credibility so you can be more effective in relationships. This approach, based on solid research, allows me to reach practical-minded skeptics who focus on results. And I do not think of behavioral integrity as a reflection of character. I think of it as a reflection of skills and priority. This shift makes a huge difference in anyone’s ability to bring about change in a leader or a workplace. Understand that the leadership approach I advocate is not an easy road. It is far easier said than done. Improving your follow-through to the point where your word is impeccable calls for personal disciplines, such as delaying gratification, understanding your personal ambivalences, detecting habits of social deceit, and facing fear. Not easy tasks by any stretch. It also calls for practices, such as careful reflection before making commitments, keeping track and following up, and apologizing sincerely and without drama when you fail to keep your word. It is not an easy solution to the dilemmas of leadership; however, I do not believe easy solutions work. Most leadership teachers mention the importance of follow-through for credibility, but I propose that this issue is fundamental. It is difficult, and the payoff is huge. It deserves center stage in any leader development program. About the Author |
| http://businessedge.michcpa.org/issue/article.aspx?i=v6n2&a=373&s=MI |
