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By Dennis McCafferty on 2010-07-12
"Meaning making" is as valued as "money making" for your work teams today, according to University of Michigan business professor Dave Ulrich, who is also co-founder of business consultance The RBL Group. While corporate money-making has obvious ROI, Ulrich identifies key performance indicators that can help every CIO determine the value of engaging employees with meaningful work. These include very tangible measures, such as stock gains for top-ranking workplaces, as well as a direct impact on factors such as employee willingness to recommend your company's products or services to others. According to Ulrich, "investment in employees" too often translates to fancy lunches or performance-based bonus plans without addressing the value of the work itself. Find out more about the pain disengaged employees can cause your organization, and how CIOs can effectively inspire workers by helping them understand the big picture. These highlights are excerpted from Ulrich's book, "The Why of Work" (McGraw-Hill/available now), which is co-written by his spouse, psychologist Wendy Ulrich.
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- 50 percent of the market value of publicly traded firms is created by intangible assets, such as employee commitment and passion.
- 6.8 percent is the increase in stock appreciation from 1998 to 2008 for companies ranked "top places to work" for employees, compared with a 1 percent increase for the average firm.
- 72 percent of employees quit their jobs because they don't feel they're being recognized for their contributions.
- Only 13 percent of disengaged employees would recommend their company's products or services.
- 78 percent of engaged employees would recommend their company's products or services.
- 60 percent to 79 percent is the increase of probability of an Initial Public Offering succeeding when a company invests in its people.
- Are managers out of focus?
According to Ulrich, "investment in employees" too often translates to fancy lunches or performance-based bonus plans without addressing the value of the work itself. - What creates meaningful work?
Constant challenge. Achievable assignments must continuously involve problems that are neither too difficult nor too easy to solve. - Other factors that create meaning?
Emotional safety — CIOs and other managers must foster friendships, fairness and self-esteem.
Autonomy — work must be structured but not micromanaged. - Day-to-day interactions reinforce "meaningful" factors
Criticism of performance is positive when you convey interest in employees' personal/professional growth (as opposed to simply "bashing"). - Help employees discover, cultivate their strengths.
Some are high achievers. Others are good adapters, deliberators, idea-creators or learners.
CIOs must help employees recognize, utilize and expand these strengths with daily tasks, long-term projects. - Wisdom from Yogi Berra?
He once said, "If you don't know where you are going, you might wind up someplace else." - What's that mean for CIOs?
It means that ultimate goals/purpose/values must be conveyed to employees for them to emotionally invest. Unexplained shifts in direction cause anxiety and detachment. - Share in employees' personal lives.
Take active interest in their families. Learn more about their interests — whether yoga, marathons or murder mysteries — to better engage employees.
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Leadership 
