The Path to Better Outcomes with Teams: Relational Equity

Each day, we sit down at our computers to start our workday, as if we’re stepping into the starting blocks of a 400-meter-dash race. We open our inboxes and are out the starting blocks. In a hurry, we get to our exhaustive list of tasks, move on to the next project, prep for our next meeting, make plans for meeting the current benchmark or sales target, and so on we go. It’s easy to remain focused on getting things done and forget the humanity of the people we work alongside.

 In leadership roles, there is a consequential demand to stay laser-focused on goals, client acquisition, and leaner processes. It is normal to focus on the work being done, or not done, and disregard the humans behind the output. Contrarily, the humanity of employees can not be detached from the work we do. 

In the global marketplace, the competitive landscape implores us to be results-oriented and believe our people should be replaced if they can’t get with the program. This thought is not always top-of-mind but, when this perspective persists within the culture of your brand, it’s more costly than the expense of hiring a replacement. 

Relational equity is often acceptable dialogue in networking contexts, as we deem it suitable to build relationships with people that can help us to get further and achieve more.  Similarly, human capital is one of the greatest assets of any brand. People are the motor to the engine of our brands.  Our employees are the people that can help us get further and achieve our goals. Investing in relational equity with our employees is not only wise but essential. Relational equity is to better outcomes with people as maintenance is to more sustainable vehicles. You simply cannot have one without the other. 

There are numerous tried-and-true ways to turn interactions with employees into relational equity. Here are four best practices that work in any industry and almost any circumstance.

Engage without making requests or demands.

 If relational equity is the goal, every interaction you have with those you’re seeking to build relationships with on your staff can’t be centered around a request or directive. Think of relational equity as a bank account and your requests as withdrawals. If you’ve made no deposits, any asks will pull the account into a deficit.  Simple gestures such as, “How was your holiday weekend?” or “What did you think about the presentation?”, are opportunities to make small deposits in the relationship bank.  As often as you commit to engaging without making a request, you increase the balance available to you in the future. 

While deposits are good measures to maintain equity in your relational “account”, investments create a greater opportunity for greater yield. Some examples of investments include providing opportunities for advancement or development, recognition of achievements and efforts, bonuses, and increased ownership of projects and initiatives.

Employ tactical empathy to make connections and gain trust.

Tactical empathy is the ability to hear the concerns of others and respond and provide a solution that seems favorable to the party with whom you’re engaging. Chris Voss, Former FBI hostage negotiator and co-author of the bestseller Never Split the Difference, coined the term tactical empathy. He defines tactical empathy as the deliberate influencing of your negotiating counterpart’s emotions for the ultimate purpose of building trust-based influence. If you take into account what may be important for the employee you’re engaging with; like being valued, appreciated, or acknowledged, then you have an increased chance of them caring about what may be a priority to you as a leader.  

If your organization cares about results, even a little, then the demand on your staff is likely not small. To keep your employees engaged, it’s helpful to employ tactical empathy to make connections that establish trust and catalyze and sustain employee engagement.

Remember the important details. 

Whether or not Paul’s anniversary is today or the next week matters little to the bottom line. Yet, that detail being remembered by his boss, who has asked a lot of him, can make the difference in him choosing to get that report to you by EOD today or tomorrow. It can mean the difference between him looking for a new job because he feels like he works hard and no one notices him or his effort. Simple examples like, “Happy Anniversary!” email and a gift card to dinner or “Don’t worry about getting that to me today. We can review tomorrow so you can get out of here to celebrate your anniversary”,  are small but mighty gestures to fill up the relational equity account pretty quickly.  Look for opportunities that present themselves in the course of a workday. Remember last Friday when you saw Paul stay late to get a project completed?  Send an email to say, “I’ve noticed the long hours you put in to get the ABC project completed. I appreciate your commitment and the value you bring to our team.”

When managing large teams, it’s easy to look at practices like these and say, “There’s no way I could do that, I have too many people on my team.” Although it is not always practical to do this with everyone on a large team, doing it with a few helps shape the culture of your organization and sets a precedent for other leaders to follow. 

Establish a follow-up or check-in.

Following up with employees with whom you’ve made investments is equivalent to checking your balance sheet. A periodic check-in will help you to know what kind of yield your investments have gained over time. Periodic check-ins help you to maintain the level of relational equity and not lose ground. 

Relationships of any kind, in any context, are complicated because humans are complex. These principles are a safe base to begin building better relationships with your team. Implementing these four practices can help you to build relational equity with employees, stakeholders, and peers alike.

If you’re still wondering how to build relationships with employees, stakeholders, and other strategic partners, we’re here to help. Sign up to receive insights in your inbox or join our community of Campers at StrateCamp who are committed to building better relationships and outcomes for their brands.