Hubert Joly on the Heart of Business (Podcast)

Profits Outcome

Hubert Joly emphasizes that profits should be seen as an outcome rather than the primary goal of a business. He argues that focusing solely on profits can be detrimental, as it overlooks the importance of people and purpose in driving financial success 1. Joly believes that a company's purpose should align with the personal goals of its employees, creating an environment where everyone can thrive 2. This approach, he suggests, leads to sustainable success by prioritizing people and purpose over mere financial results 3.

The purpose of a company is not to make money. It's an outcome.

--- Hubert Joly

Joly's philosophy challenges traditional business models, advocating for a shift towards a more holistic view of success.

   

Intrinsic Motivation

Intrinsic motivation plays a crucial role in enhancing team performance and organizational success, according to Hubert Joly. He highlights research indicating that financial incentives can actually diminish performance, advocating for a focus on intrinsic motivation to foster creativity and meaningful contributions 4. Joly also underscores the importance of diversity in achieving better business outcomes, emphasizing that diverse teams are more representative of the customers they serve 5.

Motivation is going to be intrinsic. So that's what you need to be able to touch and get, create an environment where people want to be their best.

--- Hubert Joly

By prioritizing intrinsic motivation and diversity, Joly believes companies can achieve a more inclusive and successful business model.