GLS22 Special Edition Notes—Unleashing Human Magic

When you picture a successful organizational turnaround what words come to mind? If you are like most leaders, you think cut-throat, hard decisions, and layoffs. Enter in former CEO of Best Buy, Hubert Joly, a leader who orchestrated a successful turnaround with words and strategies like connecting dreams, developing human connections, and fostering autonomy.

In his talk on February 24, 2022, at The Global Leadership Summit: Special Edition, Hubert shared ways to be the kind of leader that is vulnerable and authentic, identifying where to start a turnaround process and how to create an environment that unleashes the human magic in your team and organization.

Enjoy these official notes from Hubert Joly’s session on Unleashing Human Magic.

Milestone 1: Understanding the purpose of a company.

• • The purpose of a company is not to make money.
  • Three imperatives of business:
    • • People
      • Business (customers and products)
      • Finances (the result of excellence)

Milestone 2: Exploring the philosophy and theology of work.

• • There is a view that work is punishment or what you do so that you can do something else fun.
  • Work is part of our fulfillment as human beings.

Milestone 3: Reflecting on calling and purpose.

Milestone 4: Exploring how you can get better.

• • You get to decide what you want to get better at. If you can’t think of something, try humility.
  • A coach can help you get positive momentum to get better every day.

Stepping into the Role of CEO at Best Buy

• • Hubert did not feel he was the right fit, but concluded the world needed Best Buy, and vendors needed Best Buy so they could showcase their products.
  • The company had problems, but they were all self-inflicted.
  • Hubert took a human-centric approach to solving Best Buys problems.

“Human-Centric” Turnaround

• • Listened to front-liner feedback.
  • Asked: What’s working? What’s not? What can I do for you?
    • • Front-liners know what is working or not working.
      • If things are working, compliment front-liners. If they are not, look at the top.
  • Created energy. Co-created the plan, celebrated early wins, and was transparent.

The Strategy of Purpose

• • A traditional approach is to work on the strategy.
  • A human approach realizes everyone is human. We share the same kind of purpose in life: the golden rule.
    • • Aim to create a business that employees, customers, and business partners love.
      • “Work is love made visible.” – Kahlil Gibran
      • Magic happens if we can connect what drives us personally with work and the purpose of the organization.
      • Enrich lives through technology by addressing key human needs.
      • Ensure that everyone in the organization can write themselves into the story.
      • Treat each other and customers, as human beings and as inspiring friends.

Create an Environment of Belonging

• • The old approach of top-down management does not work anymore. No one likes to be told what to do. Motivation is intrinsic.
  • Create an environment where everyone feels they belong, where they can be the best version of themselves.
    • • Connect dreams. Be curious about your team member’s dream. As a leader it is your job to help them achieve their dream.
      • Create connection. Create an environment for genuine, authentic human connections. “I am seen, therefore I am.”
      • Foster autonomy.
      • Create a learning environment (one person at a time).

What Business Needs

• • A re-foundation of business around purpose and humanity.
  • To build companies anchored on a noble purpose.
  • To embrace all stakeholders.
  • To realize we cannot be successful in isolation.
  • We need each other.

The Five “Be’s” of Purposeful Leadership

• • Be clear about your purpose, and the purpose of those around you.
  • Be clear about your role. You don’t have to be the smartest person in the room.
  • Be clear about who you serve.
  • Be values-driven. Integrity is foundational.
  • Be an authentic, vulnerable, humble, and empathetic leader.