Transformation of Telstra through ‘Growth Mindset’
By Arvind Kumar – Co- Managing Director AspireUP Consultancy
How did Telstra, the Australian telecommunications company, successfully used the concept of Growth Mindset to transform its corporate culture?
Andrew Penn, the ex- CEO of Telstra Quoted that “Embracing a growth mindset has been crucial for Telstra as we navigate the challenges of a rapidly changing industry. By focusing on continuous learning and adaptability, we’ve empowered our teams to drive innovation and better serve our customers.”
Telstra achieved this transformation by embedding the concept of Growth Mindset into their leadership development and overall corporate culture.
Here’s an overview of how they achieved this transformation:
- Leadership Commitment
– Growth Mindset Training: Telstra’s leadership embraced the principles of a growth mindset by participating in extensive training programs. These programs emphasized the importance of continuous learning, embracing challenges, and viewing failures as opportunities to grow.
– Role Modeling: Leaders at Telstra actively demonstrated a growth mindset by showing openness to feedback, admitting mistakes, and learning from them. This set the tone for the rest of the organization.
- Cultural Shift
– *Encouraging Experimentation: Telstra promoted a culture where employees felt safe to experiment and take calculated risks without fear of punitive consequences. This led to a more innovative approach to sales, where new strategies were tested and iterated upon.
– Focus on Learning and Development: The company invested in ongoing training and development programs that encouraged employees to develop new skills and expand their capabilities. This helped sales teams to adapt to changing market conditions and customer needs.
Surveys conducted post-transformation indicated that 85% of employees felt more empowered to take on challenges and seek new opportunities, reflecting the successful integration of a growth mindset into the corporate culture.
- Sales Team Transformation
– Customer-Centric Approach: By applying a growth mindset, Telstra’s sales teams shifted from a purely transactional approach to one that was more customer-centric. They focused on understanding customer needs and providing solutions that added value, rather than just selling products.
– Resilience and Adaptability: The growth mindset helped sales teams become more resilient in the face of challenges, such as market fluctuations or technological changes. They learned to adapt quickly and continue striving for success despite setbacks.
- Performance Metrics and Feedback
– Emphasis on Progress: Rather than solely focusing on traditional performance metrics like sales numbers, Telstra started measuring progress, learning, and effort. This shift helped reinforce the growth mindset across the sales organization.
– Regular Feedback: Sales teams received regular feedback aimed at development rather than just evaluation. This encouraged continuous improvement and helped employees align their growth with the company’s objectives.
Sales performance metrics of Telstra showed significant gains, with some teams experiencing up to a 15% increase in sales conversion rates due to the adoption of more customer-centric and innovative sales strategies.
- Impact on Sales Culture:
– Increased Collaboration: The growth mindset fostered a more collaborative environment where knowledge and best practices were shared freely among sales teams. This collective learning contributed to the overall success of the sales function.
– improved Sales Performance: Over time, the adoption of a growth mindset led to improved sales performance, as teams were more motivated, better equipped to handle challenges, and more innovative in their approach to meeting customer needs.
- Recognition and Reward
Celebrating Learning: Telstra made a point to recognize and reward not just success, but also learning and effort. This reinforced the idea that growth and development were valued as much as, if not more than, immediate sales outcomes.
In conclusion, through these strategies, Telstra was able to cultivate a sales culture that was more agile, customer-focused, and driven by continuous improvement, ultimately leading to better business outcomes and a more engaged salesforce.
Till the next article, Arvind Kumar, Signing off…
13 Aug 2024