Measuring the nation’s wellbeing

Good to see the Guardian covering some of the issues that we have been discussing here on this blog.

Although the headline is ‘Happiness at work: why it counts,’ this is about much more than just our work lives. I welcome the government’s call for a ‘Wellbeing index’ to track whether our lives are actually improving as well as simply whether economic activity (GDP) is increasing. Unlike GDP which is just a measure of income, wellbeing is more like an asset on a balance sheet because it is enduring. It is a measure of value that has been created for people and societies (human and social capital.) This forms part of the ‘National Balance Sheet’ idea that economist Umair Haque has proposed and I wrote about recently.

It seems incredible to me that this is actually a new idea. What is the point of the economy and indeed even the government at all if not to improve wellbeing over the long-term? It is about time we actually started tracking ‘that which makes life worthwhile’ as Robert F. Kennedy put it. I would like to see GDP relegated in its importance and the Wellbeing Index expanded into a full balance sheet to show the value that we are building (or destroying) over time for people, societies and the environment as well as financial capital.

There will be some shocks as the government, corporations and society wake up to the fact that much of what increases GDP actually destroys value on our ‘National Balance Sheet.’ But we need to go through this process to learn how to shape our systems and institutions to deliver value where it really matters.

Inspiration Sunday: Why happiness is the new productivity

Here’s an awesome presentation from Vishen Lakhiani the founder of one of the Worldblu Most Democratic Companies – Mindvalley.

There’s so much I love in here:

  • The focus on being happy NOW (not putting off happiness until you’ve achieved other things)
  • Achieving a state of Flow
  • Rituals like ‘ringing the bell of awesomeness,’ ‘the gratitude log’ and even guided group meditations!

All of this has created an incredible workplace at Mindvalley that attracts and grows fantastic people, and that leads to success for the company as a whole.

The only thing I’m not sure about is the idea of sharing 10% of company profits on a monthly basis. I am all for profit sharing, but my fear would be that with it being a monthly thing, people may quickly grow used to it and instead of it feeling like a bonus it could come to feel like an entitlement. I’m sure that it is a motivator but I’m not convinced of the long-term value of it. But it’s part of a mix that’s working for Mindvalley so good luck to them.

Oh and if you’re thinking that all of this wacky stuff is fine for a company whose average age is 24 but not for a ‘grown up’ business, then just remember that these ‘Generation Y’ people are the senior leaders of the future so if you want to have them developing in your company then you need to create the right environment for them NOW.