The Magic Penny: Why Investing in People Fuels Success
Written by Catherine Koverola, PhD
A conversation took place some time ago on LinkedIn about a scenario where a CFO asks a CEO, "What happens if we invest in developing our people and then they leave us?" The CEO replies, 'What happens if we don't, and they stay?" I admit, at first, I chuckled over this, and (like many administrators, I suspect) I went through my own rolodex of personnel situations in which something like this has occurred.
Then it got me thinking about a larger issue within organizations: namely, whether our starting point is one of a place of scarcity or riches. Especially during these lean times in higher education, where budget cuts are the norm rather than the exception, available resources for investing in professional development are undeniably tight. This lends itself to a collective sense of scarcity, which in turn can fuel a culture in which everyone is scrapping for (what they perceive as) the few remaining crumbs. It strikes me that it is particularly during times of scarcity that what we need more than ever is a generosity of spirit and gratitude.
When I begin from this place, I suddenly feel free to invest emotionally in the people I work with, engaging freely in the sharing of ideas and encouragement with a spirit of positivity. In contrast, when I focus on a perspective of cutbacks and lack of resources, I inevitably feel less than generous, worried about whether there will be enough for me and my group.
When we approach the world from a perspective of scarcity, we simply reinforce the need to compete with our colleagues and hold each other at a distance. Yet, when we come from a perspective of plenty, there is an automatic joy that bubbles up from deep within.
This reminds me of a childhood song from summer camp about a magic penny:
“Love is something if you give it away, you end up having more. It's just like a magic penny, hold it tight and you won't have any. Lend it, spend it, and you'll have so many they'll roll all over the floor.”
In these times of financial scarcity, we can celebrate the abundance of human connection and caring–perhaps the best and most sustaining investment of all.
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