Episode 37. Developing and trusting your own leadership awareness with Josh Bolton

Podcast Bullet points

• The podcast "Developing and Trusting Your Own Leadership Awareness with Josh Bolton" delves into the complexities and nuances of leadership, especially focusing on awareness and diversity. Josh and the host discuss the importance of multiple perspectives for effective management.
• The conversation highlights the significance of "blind spots" in leadership—areas that a leader might overlook but are crucial for organizational success. Josh suggests that leaders who embrace a diversity of thought can amass "caches of data" from different viewpoints to make informed decisions.
• A key point made is that old dogmas of "keeping your head down" and "just grinding" are becoming obsolete. In contrast, leaders who are aware of organizational narratives and are open to change stand to succeed in the modern workplace.
• The discussion also covers the often-ignored operational costs in businesses, such as insurance and rent, and how awareness of these can lead to better resource allocation. The podcast implies that employees often underestimate these costs, which could affect morale and productivity.
• Finally, the topic of diversity, equity, and inclusion (DEI) is discussed as not just a social justice initiative but as a business imperative. Companies that fail to adapt to a more diverse workforce risk falling behind, as diversity brings in new perspectives that can be invaluable for business decision-making.

Statistics to back these points could include data on the positive impacts of diversity in the workplace. For example, a 2018 Boston Consulting Group study found that companies with more diverse management teams have 19% higher revenues due to innovation. Likewise, research by Gallup indicates that organizations with an inclusive culture have a 39% higher customer satisfaction metric.

include numerical number on earch point

1. The Importance of Diverse Perspectives: The podcast emphasizes that leaders who consider multiple perspectives benefit from a wealth of data points, making them better equipped to solve problems and make decisions. This is contrasted with leaders who are restricted to their own viewpoint, thereby limiting their effectiveness. Research from Deloitte supports this, stating that companies with an inclusive culture are 6 times more likely to be innovative.
2. Leadership Awareness: The podcast discusses the concept of self-awareness and emotional intelligence in leaders. The idea is that self-aware leaders can better navigate complex organizational landscapes. According to a Korn Ferry study, self-aware leaders produce better financial results, with their companies achieving a 157% higher return on equity.
3. Evolving Business Mindsets: The podcast touches on how traditional business philosophies like "keeping your head down and grinding" are becoming outdated. Businesses that fail to adapt to modern approaches risk their own decline. For instance, a Gallup survey showed that 85% of employees are not engaged or actively disengaged at work, costing approximately $7 trillion in lost productivity.
4. Unseen Costs for Remote Work: There's discussion on how remote work might save companies on overhead but shifts the cost to the employee, offering a nuanced look into the work-from-home trend. According to Global Workplace Analytics, employers can save an average of $11,000 per half-time telecommuter per year, but this often overlooks hidden costs incurred by employees.
5. Significance of Organizational Culture and Mission: The podcast highlights the importance of organizational culture and mission in attracting and retaining talent. They suggest that businesses need more than just a financial goal; they need a purpose. A PwC study found that 79% of leaders believe that an organization’s purpose is central to business success, yet only 34% said their organization’s purpose is well-understood.