Shortchanged by Scarcity: What leaders can do to promote a culture of abundance
There are three aspects of scarcity mentality in the workplace that can lead to dire consequences for any organization:
1) withholding capital, 2) hoarding of information, and 3) stinginess with time.
necessity NOT scarcity
ideas are not adequately resourced, we run the risk of stunting the growth of a burgeoning idea or worse yet, killing it prematurely.
showed that the top reason was that start-ups ran out of cash or failed to raise new capital even when the products met all market, technical and regulatory requirements.
“with more than 500 employees not only do 5.75 times more R&D than small companies, but their R&D is 13% more productive.”
Understand the Impact on Employees: Strategically withholding capital can serve a strategic purpose to test if “life will go on” and if areas could withstand constrictions. However, be vigilant and spot red flags if these functions (and your people) are suffering in silence as eventually “life WILL go on” as your employees leave for another company.
If knowledge is power, then keeping information from others is equivalent to hoarding power.
Strategically withholding capital can serve a strategic purpose to test if “life will go on
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