Passion & the Global Economy – Part of Chapter VI of the upcoming book Find Your Passion

Passion & the Global Economy – Part of Chapter VI of the upcoming book “Find Your Passion”

Finding and pursuing your passion does have some great broader benefits that you might have not thought about. Beyond your personal and professional fulfillment, it expands to the global economy. How? Through policies, strategies, and practices by governments, institutions, and organizations that focus on molding a “strengths-based culture” in the workplace. That is, emphasizing on people’s unique strengths and talents and creating systems, practices, and incentives that encourage employees to fully leverage them. How’s passion related to this? Your passion usually includes your biggest strengths and talents. Even if this is not the case, your passion is all you need to develop the skills you might lack. Such is its power.

How all of the above are related to the economy? When you do what you’re passionate about at work, you’re more productive and engaged at it. Therefore, a “passion-based culture” applied to a great number of people can have a tremendous impact on local, national, and global productivity and engagement, leading to high global economic growth.

Did you know that the “actively disengaged” employees alone cost the U.S. $450 billion to $550 billion in lost productivity per year? This number does not include the costs of the “not engaged” employees who are the majority of the American workforce. This means that the real cost can be a few trillion dollars, per year!!

To get an even better understanding of this impact, you need to be aware of this fact: * 85% of employees worldwide are not engaged or actively disengaged in their job. * Here are the words of the Chairman and CEO of Gallup, Jim Clifton, in a 2017 Gallup’s report on the “State of the Global Workplace”:

“GLOBAL PRODUCTIVITY GROWTH IS IN DECLINE.

GDP PER CAPITA – OR PRODUCTIVITY – is a key metric in global economics. It is the starting point for measuring almost everything having to do with economic growth and human development.

When the world’s productivity is in decline, so is the availability of good jobs with a living wage. Poor productivity stunts societal and economic growth.

My conclusion from reading this report is that global productivity can be fixed. Executives and a wide variety of team leaders at many different levels could change the world’s productivity quickly.

The Fix for Declining Productivity:

1. Move the whole world to a workplace strategy of “high development.” The single best activity for any team leader to deliver is not employee satisfaction, but rather employee development.
2. Make every workplace in the world strengths-based. The current practice of management – which attempts to turn weaknesses into strengths – doesn’t work. Moving to strengths-based workplaces will change global productivity and growth overnight.
3. Move the world’s workplace mission from paycheck to purpose. Of course, all employees need fair pay. But they are now driven more than ever by mission and purpose and require a workplace culture that delivers it.

According to this report, worldwide employee engagement is only 15%. What if we doubled that? What if we tripled it? Imagine how quickly that would fix global GDP, productivity and hence, human development.”

And imagine a world where people are passionate about what they do, and where the economy grows exponentially. A world where people are – and will be – both wealthy and passionate about what they do. This is the New World. The World of Abundance, material, and spiritual. Let us turn the pandemic crisis into an opportunity. A unique opportunity to build a world where work, wealth, and passion are one and the same. And it’s on its way…

* Gallup’s report 2017. Read the full report here

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