Mark Agnew
Stuck in the ice, desperately searching for a what out, we didn't just survive, we thrived.
The importance of having corporate resilience in your teams
Investing in building resilience into your teams will save you thousands in staff turnover and improve your team's performance when it matters most. Psychologists and economists have studied and measured the tangible effect of resilience on corporates teams. Below are just two of many examples of the power of resilience.
I've helped thousands of people understand the nature of resilience through my keynote talk Teams that Endure, drawing on my experiences in the wilderness and by interviewing leading psychologists.
Resilient teams pull together - and this saves your company thousands and adds to its profit.
What is resilience
It's mental toughness. It's the ability with withstand difficulties and bounce back quickly from setbacks.
Resilience is more than that though. Resilient teams do not just survive difficulties, they thrive in adversity. This will improve your business's performance at a time when your competitors are struggling. Being more resilient will add value and profits to your company.
This isn't an abstract idea. The benefits can be measured.
The ROI of resilience teams
Improves performance
Resilient teams do their best work when under the most pressure - so when there's an issue, which can be an internal one or even a macro issue like a huge economic downturn, your team will perform at its best. Imagine the advantage you'll have if your team performs better when the economy is holding back all your competitors.
While interviewing an expert in military unit cohesion, prior to going to the Arctic, I learned how to reframe obstacles as challenges. Resilient teams are energised by the challenge.
A 1981 study into corporate resilience followed managers in the telecommunications industry during a time of systemic change.
When faced with a seemingly insurmountable obstacle, resilient teams view them as challenges and are energised by the problem solving.
About two-thirds of the managers suffered burnout, depression and anxiety as the industry saw massive downsizing and M&As. The stress at work spready into their personal lives - there was an increase in divorce, heart disease, stroke, and even suicide, according to Outside Magazine.
The other third did not just survive - they thrived. They felt energised and healthy. The challenge filled them with excitement. Even outside of work, they deepened their personal and professional relationships.
The difference - the latter third were resilient. The researchers said they possessed "a set of attitudes that motivates one to respond to stressful circumstances in ways likely to produce resiliency, by turning potential disasters into opportunities instead".
Lower staff turnover
Resilient teams have lower staff turnover. The burnout is less as people are not overwhelmed by adversity. And the unity is stronger, making for a funner more engaging environment - who wants to leave a fun engaging environment?
Not only will your team be more productive, you'll save money by avoiding hiring new staff.
Replacing staff cost British businesses £4bn (yes, BILLION) a year, according to The Telegraph. Hiring a new employee costs 33% of the employees salary, according to Forbes, so if they are earning US$45,000 a year, your company will pay an additional US$15,000 just on finding a replacement. This includes the cost of the hiring process, onboarding and training, and the loss of productivity in the meantime.
Not only does low resilience lead to high turnover; high turnover leads to low resilience as it undermines cohesion. It's a vicious circle.
It pays to invest in resilience.