Finally, it´s here: Adam Grant´s TED talk on Creativity and Innovation

How do creative people come up with great ideas? Organizational psychologist Adam Grant (here´s an interview he recently gave for Mappalicious…) studies “originals”: thinkers who dream up new ideas and take action to put them into the world. In this talk, learn three unexpected habits of originals — including embracing failure. “The greatest originals are the ones who fail the most, because they’re the ones who try the most,” Grant says. “You need a lot of bad ideas in order to get a few good ones.”

While this is Adam´s first TED talk, he´s given two TEDx talks in the past:

Share and enjoy!

The ROI of Happiness: Spreading the News across Germany

Dr. Nico Rose - Handelsblatt CFO KongressI am super-happy today. Just came back from back-to-back talks on Positive Psychology / Positive Organizational Scholarship in Frankfurt and Munich. On Tuesday evening in Frankfurt, I spoke to a group of about 50 CFOs at a convention hosted by Handelsblatt, one of Germany´s premier financial news outlets. I was a bit nervous since, a) it was a dinner speech and I am not that experienced in giving speeches without a PowerPoint presentation; and b)  I am obviously not a CFO myself – all participants were much older and more advanced in their careers than I am right now. Nevertheless, people were listening attentively and I received a lot of positive feedback. These were my ten main points to convince the financial leaders that investing in their employees´ happiness will bring them a solid financial return:

  1. Compensation: Happy employees are more intrinsically motivated and therefore need less extrinsic motivation. In turn, a happy workforce helps to keep personnel costs at a reasonable level over time.
  2. Health: Happy employees are sick less often, and if they are, return to work after fewer days. This helps to keep healthcare costs in check.
  3. Retention: Happy employees stay with companies for a longer time and create positive word-of-mouth. This helps to keep save costs concerning the functions of employer branding, recruiting, and training.
  4. Cooperation: Happy employees typically display more positive self-regard and therefore are better at handling conflict and situations that entail negotiation.Dr. Nico Rose - Handelsblatt CFO Forum
  5. Engagement: Happy employees display more organizational citizenship behavior (OCB) and therefore are willing to take on responsibility over and beyond their role descriptions and department boundaries.
  6. Innovation: Happy employees are more creative on average. This may foster innovation processes.
  7. Problem-solving: Additionally, they will find solutions to existing problems faster and more frequently.
  8. Meaning: Happy employees experience more meaning at work – which is one of the strongest drivers of motivation and engagement.
  9. Contagion: Happy employees will make other employees happy (at least: happier) by way of emotional contagion, potentially creating an upward-spiral of emotional well-being in the workplace.
  10. Customer Satisfaction: Happy employees will make your customers happy – via their motivation, exceptional engagement, and emotional contagion as well.

Since I was talking to CFOs, I closed my speech by referring to an article from the Journal of Financial Economics. In a paper titled “Does the stock market fully value intangibles? Employee satisfaction and equity prices”, Wharton´s Alex Edmans was able to show that a fictional stock portfolio build out of the “100 Best Companies to Work For in America’’ (as a proxy for companies whose employees are highly satisfied) has significantly outperformed carefully selected benchmarks on a yearly basis between 1984 and 2009. Ain´t that nice? They day after in Munich in a very stylish old movie theater, I spoke about Positive Psychology in general to 160 people working for the German branch of the Bonnier Group, a Scandinavian publishing house. Hopefully, this gave them tons of ideas for new books on Positive Psychology here in Germany. 🙂 Since this was my wife´s birthday and I couldn´t be home that day until dinner, I asked my audience to sing “Happy Birthday” for her – and they did. Thank you, kind people at Bonnier…

Foto credits: Euroforum / Handelsblatt

The Rise of Positive Psychology: Linking the Movement to the 6th Kondratieff Cycle

One very interesting question about Positive Psychology is: Why now? Meaning: Why is it booming at this point in time, why is it gaining so much momentum, why is it turning into a – sort of – movement, attracting the attention of thousands of researchers (plus: institutions that fund research) and practitioners in business, education, healthcare – and elsewhere?

An easy answer could be: Because Marty Seligman chose it as the central topic of his tenure as president of the APA in 1998. Apart from being a brilliant researcher, Marty has proven to be a very good “salesman” and is also highly skilled at securing grants and other third-party funds. But I guess this response is too simple.

The core ideas of Positive Psychology (first and foremost: looking at the “positive” side of the continuum that comprises human behavior and development) have been around for a while, starting with some of the Greek philosophers – and leading all the way up to 20th century humanistic psychologists such as Viktor Frankl, Erich Fromm, and Abraham Maslow. They all do have their well-deserved spot in the psychology hall of fame – and they are widely respected for their (theoretical) contributions. But they did not really manage to turn their ideas into a widely-accepted and especially well-researched “field”, a broad and comprehensive sub-domain of the academic community.

All the forces in the world are not so powerful as an idea whose time has come. (Victor Hugo)

Turns out it may not be their fault after all. There is a good chance that they were simply introducing their ideas to the world…too early. Positive Psychology may be booming during this era of economic development (and human development in general) because it could be the decisive force to spur growth and well-being over the next 50 years (or so…).

Positive Psychology and the sixth Kondratieff Wave

Enter Nikolai Kondratieff (1892-1938). Kondratieff devised an economic theory that today is known as Kondratieff Cycles (often called „theory of the long waves“). They are a concept in macro-economics that describes the development (expansion, stagnation, recession) of entire economies. Yet in contrast to most modern economic theories, Kondratieff did not focus on cycles that last for a few years. He tried to describe waves that last approximately 50-60 years.

A core concept of the theory is the notion of “basic innovations”: Kondratieff posited that a wave arises from the clustering of technical innovations that consecutively serve to launch technological revolutions that in turn create leading industrial or commercial sectors (please see the following graph taken from a research report created by German insurance giant Allianz for a basic overview of the first five cycles – and a projection for the upcoming sixth cycle):

Kobdratieff Waves

As you can see our economy is depicted as entering the sixth wave since the first industrial revolution. What you can also see is a list of candidates for the basic innovations that are projected to drive economic growth during the upcoming cycle (e.g. nanotechnology, biotechology, green-tech).

But there´s another important candidate on the list that is also elaborated on in the Allianz whitepaper – but was introduced to the public a lot earlier through the book The Sixth Kondratieff by Leo Nefiodow (which has recently been reissued in a 6th edition): Holistic health. This encompasses all those products and (medical) services that cater to the needs of an aging society. But it also decidedly incorporates all the services that cater to the psycho-social wellbeing of the workforces in our organizations.

This is where Positive Psychology as a growth driver may tie in. Phenomena such as the burnout syndrome have been on the rise for at least the past 15 years – resulting in billions and billions lost for corporations and society as a whole as a result of absence from work and medical costs (…and I´m not even trying to incorporate the “psychological costs”; and the “social costs” for families, friends, communities). And according to Gallup, the U.S. economy loses some 450-550 billion Dollar per year due to a disengaged workforce (for Germany, the number is depicted at around 130 billion Euro).

Positive Psychology (especially positive organizational scholarship) offers well-researched and at the same time practical solutions for (a lot of) these problems, at the individual and organizational level. For an overview, you might want to check the recently published book How to Be a Positive Leader: Small Actions, Big Impact by editors Jane Dutton and Gretchen Spreitzer. Other valuable books can be found on this list.

To sum up: I propose Positive Psychology may be the decisive basic innovation of the 6th Kondratieff wave.

What do you think of this?