Understanding the importance of a growth mindset
The term ‘growth mindset’ was developed by psychologist Carol Dweck. In recent years, many schools and educators have used Dweck’s theories to inform how they teach students. However, growth mindset can also be used to drive an organisation towards success.
What does growth mindset mean?
Dweck originally developed the growth mindset concept for individuals. People with a fixed mindset believe their basic qualities, like intelligence or talent, are fixed traits. They believe that talent alone creates success—with little effort. However, people with a growth mindset believe that they can develop their most basic abilities through dedication and hard work. Brains and talent are just the starting point.
What do growth mindset companies do?
How does mindset for individuals translate to use within an organisation? A company with a talent growth mindset will ensure defined development targets for leaders. It will also offer leaders on-demand, targeted learning. Moreover, growth mindset companies track and course-correct development progress. It’s all about developing, advancing, expanding and seeing the opportunity and potential in every moment, individual, failure and success. A growth mindset will move an organisation forward and position the business, its brand and its people for growth, profit and success in the future.
What can growth mindset companies achieve?
Growth mindset companies can outperform their competitors with a fixed mindset in many ways. A grow mindset helps to build reputational distinction and excellence. Their list of upper managers is stronger. Additionally, their leaders are better able to respond to the organisation’s competitive environment. They are customer orientated and focused, so that their leaders understand and act on changing customer needs and perspectives. They also have higher success rates in the careers of their leaders at all levels.
Organisations that adopt a fixed mindset tend to have a high blame culture. The overall effect is that this can undermine openness and learning.
Conversely, employees in a “growth mindset” organisation are:
47% more likely to trust their colleagues
34% more likely to be loyal to the company
49% more likely to say that the company cultivates innovation
Growth mindset is taking off in organisational settings due to its implications for people and performance. Subsequently, organisations are looking to identify people with it and develop it in others.