I have been working for the past few months on a concept called the 5Ps. The 5Ps explain the 5 basic needs of a whole company, and they help us begin to understand ways in which we can find alignment between our team members goals and those of our businesses. This alignment is a crucial component in your efforts to build a team of engaged leaders.
We have all read about the 5Ss of Inspiration and how nurturing the 5 needs of a whole person (body, heart, mind, and soul) helps us to unleash our team’s full potential. The 5Ps in the same way will help us unleash the full potential of our businesses.
The first need, at the base of the pyramid is of course the economic need represented here by the word “Profit”. This is in alignment with a team member’s basic economic needs.
Because profit is such an important need, it can often become the number one motivator for business owners, clouding all decisions and leaving the higher needs of a whole company suffering. Many companies get stuck at this level.
When a business owner is driven by money alone, the same becomes true for his employees. Money becomes their only motivator. Employees will only produce on the promise of ongoing raises and financial bonuses. After a while the company can no longer afford to keep increasing the employees pay leaving them unmotivated, unproductive and looking for another job. Soon this turnover, retraining, and low productivity begins to erode the company’s profitability. There is a better way!
Once a business owner realizes that the business must go to work at ALL of the 5 P’s all of the time, profit is often the reward.
My experience is this. When a company has a compelling greater purpose (greater than just “making the boss rich”) and makes all of its decisions based on sound principles, it will begin to attract and retain great people. These people will be driven and inspired by the purpose and guided by the principles, resulting in a great culture. This culture creates alignment between the 5 needs of a whole person and the 5 needs of a whole company resulting in unparalleled progress in innovation, efficiency and sales.
The reward for focusing on building a whole company will be increased profit..