Consumer Trends: 5 Things Brands Should Know

shopping-carts-2077841_1920By Linda Fisher Thornton

We’ve seen many articles about ethical consumerism, conscious capitalism and the responsible consumer. The bottom line is that consumers continue to expect much more from brands than an honest and perfectly executed transaction. This week, I share a high level view of 5 key things brands should know if they want to be successful in reaching responsible consumers.

Consumer Trends: 5 Things Brands Should Know

#1: Customers want more than a perfect transaction. According to Scott Lachut of PSFK, referring to the PSFK x Suzy Future Of Retail 2020 Survey, “63% are interested in purchasing a product that comes with related services to help them get the most out of their purchase” and “67% are interested in being invited to an exclusive event or activity in their favorite store.”

#2: Sustainability is becoming a way of life. According to Deloitte in Consumer 2020: Reading the Signs, an increasing number of (consumers) will be advocates for sustainability and demand it in products and practices.”

 #3: It’s important to understand where consumers are – by really listening to their concerns. Thomas Kolster, in the Adweek article It’s Time for Brands to Stop Climate Grandstanding and Listen to Consumer Needs says it time to listen, not preach. 

#4: Consumers expect authenticity AND transparency. Deloitte in Consumer 2020:Reading the Signs, says that consumers “will be likelier to sense when companies are not being genuine or authentic” and they will “expect and demand transparency.”

#5: Brands need to aim for common values that cross the spectrum of ideologies in a divisive climate. Gartner Inc., in Gartner Identifies Top Five Consumer Trends for Marketing Leaders in 2020 highlights the importance of “utiliz(ing) broadly appealing values in messaging to connect with consumers across ideologies.” 

It’s getting harder to adapt to changing consumer expectations, and keeping up with trends is the only way to meet the challenge. Stay tuned for more insights in future posts!

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©2020 Leading in Context LLC

 

Ignoring Toxic Leadership is Not Worth the Tradeoffs

By Linda Fisher Thornton

Toxic behavior is a problem in organizations across industries and it’s often ignored. Organizations that delay dealing with toxic behavior, though, will find that it spreads and erodes the integrity of an ethical culture.

Toxic behavior may be “allowed” to flourish because an employee or manager is a “top performer” in other aspects of the job. This is a dangerous bargain for organizations to make. By allowing the toxic behavior to continue unchecked, they keep the perpetrator’s top sales results, but the fallout is not worth it. Factoring in the negative impact on trust, the reduction in the quality of work-life for employees and colleagues, and the erosion of the importance of values in the organization, it’s a losing proposition.

If we SAY in our values that we demonstrate RESPECT and then we allow disrespectful behaviors, we are sending the message that respect is not really required. Since toxic behaviors destroy trust, customers and employees who expect to be treated better often leave to find a safer place to invest their money, time and talents.

The problem worsens if entry-level employees are handled differently from top leaders. If you coach a toxic front-line employee before taking performance action that may include termination, but you allow a leader to continue unchecked, you are applying a power dynamic that can make employees feel powerless and victimized.

What are employees thinking when the leader who is verbally assaulting them is keeping the job, not being coached, and getting bonuses and promotions? They are thinking that the company has a different standard for leaders than the standards it applies to employees.

A double standard not only lacks integrity, but also tells employees, customers and colleagues of the toxic leader “we don’t care about your well-being.” Our constituents have choices, and they will exercise them if they are not treated well. When was the last time you went back to a store where someone was repeatedly rude to you? The bottom line is that organizations can’t afford the fallout from sending a “we don’t care about your well-being” message to the employees, customers or colleagues of a toxic leader.

Resources For Learning:

13 (Culture-Numbing) Side Effects of Toxic Leadership

Can a Toxic Leader Be Ethical? Yes and No.

Unethical Leadership: Selective Respect

Every Decision Changes the Ethical Culture Equation

Take Positive Action When You See Unethical Leadership

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©2020 Leading in Context LLC

 

Are We Focusing on Employee Engagement Metrics (And Missing the Point)?

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By Linda Fisher Thornton

Employee engagement is a metric that companies are closely watching. Using surveys, levels of participation in programs, and satisfaction reports, companies measure how well they engage those they lead. Butcould this heightened level of watching be part of the problem?

Gallup’s article “The Worldwide Employee Engagement Crisis” explains that “when companies focus exclusively on measuring engagement rather than on improving engagement, they often fail to make necessary changes that will engage employees or meet employees’ workplace needs.”

As companies move to real-time employee engagement dashboards, there is a lot of data to look at, and it changes daily. Have we become fascinated by the data, and not the level of engagement of employees? When we make a change and engagement goes up, it is easy to assume that the change caused the improvement, but organizational cultures don’t operate by cause-and-effect because they are complex systems. Many other things could have changed engagement besides that “one new program or policy” that we (the measurers) are thinking about at the moment. 

“Studies have shown that committed and engaged employees who trust their leaders perform 20 percent better and are 87 percent less likely to leave the organization, and that high-trust organizations experience 50 percent less turnover than low-trust organizations.”

Drea Zigarmi and Randy Conley, Focus on Employee Work Passion, Not Employee Work Engagement, Workforce.com

Taking a high level view, what “moves the needle” on engagement is really systemic changes in the culture, trust building and improving performance management. Since those connected systems are harder to get right every day than program and policy changes, they are sometimes overlooked for small changes that seem like “easy wins.”

According to Paul J. Zak in HBR’s The Neuroscience of Trust, some of the changes that really matter in employee engagement include job crafting, working together to make progress on goals, having discretion at work, information sharing, leader vulnerability and facilitating whole-person growth.

“Today, more than twice as many employees are motivated by work passion than career ambition (12 percent vs. 5 percent), indicating a need for leadership to focus on making the work environment compelling and enjoyable for everyone.”

Brown, Melian, Solow, Chheng & Parker, The Naked Organization, Deloitte Insights

While measuring employee engagement is important, in the end the metrics are not the point. The ultimate goal is to create compelling workplaces where people flourish and grow, supported by highly competent ethical leaders.  These ethics-rich cultures generate high levels of trust (through authentic leadership, respect and care) and attract and retain talented people who want to make a difference.

The most engaging leaders can simultaneously meet organizational goals, enrich employee’s lives and meet the needs of multiple constituents using a careful balancing act based on mutual benefit. 

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LeadinginContext.com  

©2020 Leading in Context LLC

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