Elevate Classics: Keith Ferrazzi on Competing In The New World of Work
Aug 29, 2023
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Keith Ferrazzi, influential business thinker and New York Times bestselling author, joins Robert Glazer to discuss adapting to change in the new world of work. They cover topics such as leading without authority, communication challenges in the modern workplace, and implementing a new social contract within organizations.
Embracing crisis agile practices and avoiding a return to old ways of working is crucial for success in a rapidly changing world.
Breaking free from outdated meeting structures and embracing technology for effective collaboration greatly improves productivity and outcomes.
Building a new social contract based on peer-to-peer dynamics, psychological safety, and open dialogue fosters trust, accountability, and alignment within teams.
Deep dives
Importance of Radically Adaptable Companies
Radically adaptable companies constantly assess risks and opportunities, utilizing agile frameworks and monthly sprints. This approach enables them to pivot and make informed decisions as situations evolve. The key is to avoid going back to old ways of working and instead move forward. The COVID-19 pandemic served as an inflection point for many organizations, allowing them to embrace crisis agile practices and question traditional methods. Research indicates that these companies are excelling in four areas: foresight in looking ahead, sustainable adoption of agile practices, breaking down silos and embracing inclusivity, and fostering resilience for mental and physical well-being.
Lessons from Delta Airlines and 3M
Delta Airlines demonstrated the power of crisis agile by adapting daily to the pandemic, challenging sacred norms, and rapidly embracing remote work. This crisis exposed the necessity of ongoing adaptability. Similarly, 3M utilized stand-ups and asynchronous collaboration to enhance psychological safety, inclusive participation, and innovation. These examples highlight the importance of breaking free from outdated meeting structures and leveraging technology for effective collaboration. Shifting the focus from update meetings to dynamic discussions and decision-making can greatly improve productivity and outcomes.
Rebooting the Social Contract
Building a new social contract is vital for teams to become radically adaptable. The shift from hierarchy to peer-to-peer dynamics promotes speaking up and challenging ideas. It is crucial to clarify that feedback from peers is not a directive, but rather valuable data. Disrupting the traditional meeting format and introducing breakout rooms can create psychological safety and increase candor. Embracing safe words, indicating high-risk conversations, encourages risk-taking and supports open dialogue. These practices foster trust, accountability, and alignment within teams.
The Future Workplace and Gig Workers
The future workplace is expected to witness a rise in gig workers, who will comprise around 50% of the workforce. Embracing this shift will require companies to provide a positive environment for gig workers, valuing their contributions and respecting their time. The gig economy will demand a balance between core team members focused on shared goals and temporary workers hired for specific tasks. Companies that prioritize authenticity, inclusion, and collaboration will attract and retain top gig talent while encouraging loyalty and strong performance.
Radical Adaptability and Future Predictions
Radical adaptability will become an essential trait for companies in a rapidly changing world. Integrating foresight practices, sustainable agile frameworks, inclusive collaboration, and resilience initiatives will drive success. As organizations transform, software will also evolve to support self-managed network teams. Additionally, the future may see a greater acceptance of psychedelic substances as tools for enhancing productivity and psychological well-being. The shift towards remote and hybrid work is likely to continue, necessitating constant adaptation, strong leadership, and continuous learning.
Keith Ferrazzi is an influential business thinker, researcher and New York Times bestselling author. He has founded and sold two companies and now works with Fortune 100 companies and their executive teams worldwide as Chairman of Ferrazzi Greenlight and its Research Institute.
Keith’s books include Never Eat Alone, Who’s Got Your Back, Leading Without Authority and his latest, Competing In The New World of Work.
Keith joined host Robert Glazer on the Elevate Podcast to discuss how leaders can prepare their teams to excel in our new working world, and how to adapt to change as it arrives.