Your mindset can make a difference in whether or not you stand out in the workplace. A growth mindset can elevate your performance, determine how much money you make and even contribute to revenue growth for your company, according to a new research study. A growth mindset is the belief that you can develop your intelligence, abilities and talents over time through effort, practice and learning. With a growth mindset, you are more likely to achieve more than others who believe their abilities are innate and fixed.
Growth Mindset In The Workplace
If you’ve crossed your arms, planted your feet and made up your mind about how how far you can go in your career trajectory, that fixed mindset can stunt your professional growth, limit your performance and perhaps even directly lower company profits in the long run.
In its latest report, Growth Mindset in the Workplace, TalentLMS reveals that 80% of senior executives in U.S. companies agree that employee growth mindsets contribute to revenue growth. The survey is based on responses from 300 business leaders and 1,000 employees in the U.S. Here are additional key findings.
- 88% of executives agree that a growth mindset is important for organizational success.
- 53% of execs think that gen AI will hinder the development of a growth mindset in the workplace.
- 64% report higher productivity and performance, and 58% cite improved employee engagement as a benefit.
- 52% of employees note that they would leave their current jobs for a company that offers more opportunities for continuous learning and development.
- 89% of senior leaders agree that future business success will depend on leaders who embody a growth mindset.
Despite these benefits, both executives and employees say they face common obstacles in developing a growth mindset. The fear of failure makes workers reluctant to step out of comfort zones. Some employees have difficulty in dealing with negative feedback and criticism, and there’s often a resistance to change and new ideas.
While 96% of executives claim they embody a growth mindset, only 45% of employees agree that their leadership demonstrates this mindset in practice. This disconnect highlights a critical gap that needs to be addressed for organizations to succeed, according to the report. Executives agree that leaders must take action to overcome three barriers:
1. 90% emphasize the importance of leading by example.
2. 87% stress the need for continuous learning opportunities across the company.
3. 84% believe normalizing discussions around failure is crucial.
A significant finding of the study is that, while executives say they recognize the critical role of growth mindset in driving success, they also express concern over the potential negative impact of generative AI on key soft skills.
A total of 53% of executives believe generative AI could hinder the development of crucial growth mindset skills lacking in the workplace like active listening, critical thinking and time management. These results underscore concerns about the role of technology in shaping the future workforce and the need for a balanced approach to AI integration in the workplace.
According to Nikhl Arora, CEO at Epignosis, parent company of TalentLMS, these findings represent a clear call to action for business leaders requiring an investment in the growth of employees or risk losing them. “As leaders, we must embody this growth mindset and lead by example,” Arora says. “We must be the first to embrace new challenges, to admit our mistakes and to celebrate the learning process. By doing so, we create an environment where everyone feels empowered to be bold and get out of their comfort zones.”
How To Transform Your Mindset
I recently penned a piece for Forbes.com on how to make a mindshift and develop a growth mindset in order to remain marketable in the New Year. I spoke with futurist Brian Solis, author of Mindshift: Transform Leadership, Drive Innovation, and Reshape the Future, who defines a mindshift as the process of altering your perspective to embrace new ways of thinking, problem-solving and innovating. “It’s about moving past the status quo, beyond traditional paradigms and adopting a more open, creative and innovative approach to both personal and professional challenges,” Solis states.
He told me by email that transforming your mindset is a journey requiring intentional effort and a willingness to challenge the status quo instead of falling back on what we know. And he says it can be done in six practical steps.
- Embrace continuous learning. “Seek out new knowledge and experiences that challenge your current way of thinking. Attend workshops, read widely across disciplines, and stay curious about emerging trends in your industry.”
- Cultivate resilience. “Change is often uncomfortable, but it’s through discomfort that growth happens. Encourage yourself and your team to view setbacks as opportunities to learn and improve, rather than as failures.”
- Encourage diverse perspectives. “Innovation thrives in environments where diverse ideas and perspectives are welcomed. Create a culture where team members feel safe to voice unconventional ideas and challenge existing processes.”
- Practice mindfulness. “Being present and fully engaged in the moment can help you better understand and adapt to change. Mindfulness practices, such as meditation or reflection, can sharpen your focus and enhance your ability to respond creatively to challenges.”
- Foster a growth mindset. “Believe that abilities and intelligence can be developed with effort and time. Encourage your team to take on challenges, persist in the face of setbacks and see effort as the path to mastery.”
- Lead by example. “As a leader, your actions set the tone for your organization. Create a safe space to ask questions, challenge conventions and contribute crazy ideas. Consider even incentivizing it! Model the mindshift you wish to see by being open to new ideas, adapting to change and continuously seeking personal and professional growth.”
Once you start to stick your neck out and accept failure as an essential steppingstone to success, you become willing to go through the required hurtful steps (they’re called “growth pains”) to get there. Think of a setback as a lesson to grow from instead of a failure to endure.
Ask what you can learn from difficulties and use them as stepping-stones instead of roadblocks. Consider how the obstacle is happening for you instead of to you so you’re empowered instead of victimized. Ask yourself what edge you can go to in your career? What unpredictable bridge can you jump off to sprout your wings? What limb can you reach to get to the fruit of your career? Take a leap into the unknown if you want to be marketable by 2025.
