The Third Metric & Balance of Life

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Success is funny kind of thing, we all want it but I have to ask do we actually know what it actually is?

Is it money? a big house? a holiday home? a fast car?… It could be any of these things but it can equally be centered on quality of life.

The horse has probably bolted but it is perhaps important to realize that 1 in 6 employees in the UK suffers from stress, anxiety or depression  at some point in their working lives. And what does this mean to the workplace? Well, disengaged employees is what it means and lots of time away from the workplace, or worse still lots of people in work under-performing is what it means.

The Third Metric is a term dreamt-up by the Huffington Post and it looks to be the next big topic of discussion. The term is related to how we measure success which previously has been power and money of variations thereof.

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But if you think beyond money then the Third Metric is a valid metric. Its concerned with those factors of success beyond power and money, business leaders are encouraged to make smarter decisions aimed at making employees feel more valued and that they have a sustainable career nonetheless.

So how to define the Third Metric success factors:

  1. Health
  2. Rest
  3. Family/Friends
  4. Mindfulness

The list gives an indication of those things that are affected either positively or negatively by work.  They are affected by the consequences of work and feed-back into the quality of life of the employee.

Health is by no mistake the most important, #1 factor on the list.  Good health is the platform on which power and income generation is based. Prolonged poor health invariably leads to time off work in treatment and recovery so success will almost with exception be affected, and often badly.

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Businesses through the Third Metric may seek to address this by, for example giving discounted or even free gym membership or private medical insurance so that when the worst does happen that the employee is treated in better then state provided surroundings and consequently will feel valued. The pay-back should seem obvious albeit not measured in power and money terms.

The Future, The Third Metric

The workplace will change, that is an inevitability regardless of the macro economic situation. Innovations in treatments & therapies will mean quicker recovery times. Those businesses that address the issue of success and how it is measured through the lens of the Third Metric may well find that when the economics change that they are among those best placed to take best advantage.

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