Success Archives - MINES and Associates

7 Ways to Develop a Mindset for Financial Success

Nic Mckane — Fri, 28 Oct 2022 20:18:04 +0000

Guest article from MINES’ Trainer and Financial Coaching Partner Michelle Vullo

A money mindset is an overarching attitude that you have about your finances. It guides your everyday financial decisions and it can have a big impact on your ability to achieve your goals.

The way to achieve stability and increase wealth may all come down to a healthy attitude toward money. When it comes to your finances, positive thinking really does matter. To create an optimistic financial mindset:

Look for opportunities instead of seeing roadblocks – Recognize that each financial situation is temporary and fixable. They are not always easy to see but there are solutions to every financial issue. It usually just takes time and small changes to get even the toughest financial situation back on track.

See the value of asking for help instead of struggling silently. Utilize Mines’ Employee Assistance Program (EAP) financial counseling benefits for free help. Your EAP can connect you with a financial counselor to coach you to get your finances in order. The financial coach can work with you to create a personalized plan outlining steps to get ahead such as establishing an emergency fund, paying down debt, boosting your credit score, and maximizing your retirement plan contributions.

Create a money mantra and repeat it often. Make it positive, financially based, and simple, such as:
- I am debt-free and financially stable.
- There is always more than enough money in my life.
- I have a positive relationship with money and know how to spend it wisely.

Accept that even small steps create progress. Make one small change at a time such as finding small ways to spend less. Cancel subscriptions you don’t use, and compare pricing on cell phone plans, insurance, and other service packages. These small changes will help build momentum and change your mindset with actions that bring you closer to success.

Address finances head-on. Don’t ignore financial statements, late notices, and bills because of fear. Call your creditors and talk with them before late charges and other fees are piled on. The sooner you address the issue, the more solutions you will have.

Spend money intentionally and focus on a financial balance. Spend money on only the things and people that you value most. Set priorities for your spending by cutting out those expenses that aren’t important to you. If having coffee with friends gives you joy, then keep going out for coffee. Find something that provides less enjoyment to cut back on.

Take it one goal at a time. What’s measured improves. If your first priority is to pay your credit card off, put it in writing and/or tell your friends about your goal. You can even write your balance on a large piece of paper and post it on your refrigerator and every time you make a payment, take pleasure in your progress by crossing out the old balance and writing in the new, lower balance.

Improving your financial mindset can bring you closer to financial success. If you would like assistance, contact Mines for free financial coaching.

To Your Wellbeing,

The MINES Team

Michelle Vullo, is an Accredited Financial Counselor with Enrich Finance. She provides free financial counseling sessions for employees eligible for MINES and Associates’ EAP services.

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The Fourth Wall Revisited: Breaking past the Demons

Nic Mckane — Fri, 08 Feb 2013 19:50:24 +0000

I just couldn’t help dovetailing off of my erudite colleague Ryan Lucas’s most recent blog “Health inSite: Breaking the Fifth Wall.” You see, I am currently in a theater production – mid run. This is something I do every two years or so to keep me young and “in the game.” As always, the life lessons have been prodigious and applicable. These lessons can be applied to health, wellness, as well as organizational performance. Each night we have a huddle before the performance (big cast – 21 actors plus directors, choreographer, lighting engineers, and stage managers) to share a moment of teamwork and motivating words from one another. In this blog I will be sharing a version of what I will share in our next huddle.

In this play, the Fourth Wall definitely gets intentionally broken. If that didn’t work, the play would be a mere shell of itself. Okay, here you go: the play is “The Full Monty.” If you are not familiar with the story, it is about a group of unemployed steelworkers who come up with the idea of putting on a working man’s strip show to make some quick cash. Through the process, each one goes through some personal transformation of overcoming personal doubts and limitations. This is the Broadway musical version that was created after the movie. This is a play of tremendous heart and is about so much more than crudity and stripping (It is set in Buffalo with steel workers, so there is a bit of a hard edge).

Here is what I want to share:

As much as this has been an incredibly fun and positive experience, as happened with me, I have faced some personal demons in the process. I would guess most of us have; be it relationships, body image, skills and talents, or any of the stuff that gets in our way when we attempt to excel. So much of the play is about overcoming those demons. What it takes in order to accomplish this is the openness and support of those around us – our community. When the six of us (“Monty Men”) come out for the last big number, the rest of the cast is out in the audience and has become part of the audience (breaking the Fourth Wall). I cannot tell you the powerful and amazing feeling of getting ready to “bare it all” with this great crew out in the audience whooping, hollering, and heckling. Then they incite the audience to do the same – perhaps approaching the Fifth Wall Ryan alludes to in which people join together in support. The focus is on the six of us, but it’s about each and every one of us, and what it takes to overcome your doubts to reach pure joy and celebration. What I experience is that we are all in it together and that’s what makes it work. I overcame my, as well as my character’s, personal demons. What a gift!

Perhaps we do not completely get to the “Fifth Wall” Ryan alludes to in his blog. There is no designed sharing between audience members. However, we are all very present together in the dance and song “Let It Go.” Breaking the barrier walls, we can construct with one another through openness and support, and create miracles of accomplishment. This is the same at work, in our families, and in any given situation. The characters in this play are almost as diverse as in any workplace. And yet, in the end when we “Let it Go” the show is a huge success and the world feels like a better place.

Let it Go,

Patrick Hiester, L.P.C.
VP of BizPsych

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Politics and Self Deception: Part One

Nic Mckane — Wed, 03 Oct 2012 18:51:42 +0000

One of the theories that has impacted my consulting most profoundly over the last several years comes from the work of the Arbinger Institute. The two books from this group have helped guide me to a vision of the absolute practical and financial benefits of collaboration in the workplace. The books are: “The Anatomy of Peace – Resolving the Heart of Conflict,” and “Leadership and Self Deception – Getting out of the Box.” This work offers a relatively unique perspective of how and why collaboration can break down in our relationships. In both of these books it is suggested that when we engage in any act of self betrayal, i.e., acting in any way against our own sense of what is the right thing to do in any given situation, we naturally begin creating a path of self-deception. We begin fooling ourselves in a way that impedes objectivity and truth. An act of self-betrayal may be anything from not going out of our way to help someone who may be in need of our help, to not honestly confronting someone or a situation when appropriate, to not acknowledging the truth of a situation. According to Arbinger, when we engage in an act of self betrayal we automatically begin justifying our action. We begin to amplify our own virtues and extend blame to others. We end up in what Arbinger describes as a “box.” The box is a lens through which we objectify others in order to justify ourselves. This is the concept of self deception; we are seeing others through a distorted lens due to our need to justify our own actions. We are not truly seeing them objectively, but amplify their faults and our virtues. We know we are in a box when we objectify others.

I believe most of us end up in this situation at times. Beyond the Arbinger concept I believe we may end up “in the box” for other reasons than self betrayal, such as disappointments or negative experiences with others. Regardless of the cause, I agree that we are “in the box” when we objectify others. This happens in traffic all the time. Think about it – have you ever called someone you don’t even know a name because you were frustrated by their driving (or just by the darn traffic jam)? Do we objectify our leaders or our subordinates in the workplace when they don’t live up to our expectations? The “us/them” that occurs in many workplaces is a process of objectification and justification.

A further concept from Arbinger is that when we are in a “box,” we enter into collusion with others in which we invite the very behaviors we least want from them. If instead of supporting my co-worker, I regularly correct them, they may begin to resist me. I may in fact, know more than they do and have valuable things to teach them. However, instead of focusing on their success – helping things go right for them, I focus on correcting what they do “wrong.” I may begin to see them as inferior or disinterested. When I do this, I invite greater resistance. The more they resist, the less they learn and the more I have to correct and the more I see them as a problem. This is a circle of collusion in which we are both inviting the very behaviors from one another we least want. This is the opposite of collaboration. Collusion is working around our perceived deficits of others. Collaboration is bringing out the best in one another in partnership.

The Arbinger theory encourages us to take responsibility for our own box, to get out of our box, focus on helping things go right vs. focusing on correcting others, and to stay out of the box by practicing and acting according to what we know is right.

Once in a training program in which I was describing the Arbinger theory, one of the participants asked me this: “Is it possible for a group to be in a box with an individual or another group?” WOW! What a concept – think about different departments in a workplace that could potentially get into boxes with one another – Sales and Operations, Accounting and Business Development, R&D and I.T. Is there ever generalized objectification and justification between these groups? Do they ever collude in inviting the very behaviors they don’t want from the other? Then we think about even bigger realities like religion and politics…

In my next blog I will examine the Arbinger model applied to groups and politics.

Patrick Hiester MA, LPC
Vice President of BizPsych

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References: “Leadership and Self Deception: Getting out of the Box,” “The Anatomy of Peace: Resolving the Heart of Conflict.” The Arbinger Institute. Berrett-Koehler Publishers Inc.

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Respectful Workplace – Paying Attention to Your Emotional Wake

Nic Mckane — Fri, 07 Sep 2012 15:36:48 +0000

Recently, BizPsych was asked to host a webinar on “The Respectful Workplace” for a client company. This title of this training, “The Respectful Workplace,” has often been a useful and polite cover for harassment training. In fact, I often recommend using this title, as it is the fundamental concept of respect that is at the heart of understanding harassment and sexual harassment. In this case however, the organization wanted us to explore respect in the workplace in terms of values, attitudes, and behaviors that promote and maintain respect. In planning for the webinar it occurred to us that communication is a key concept in the experience of either respect or disrespect in the workplace. So, we decided to focus on tips and insights that may be useful in promoting respectful communication in the workplace.

Difficult, Crucial, and Fierce Conversations
There are many books, theories and approaches that tackle the subject of challenging communication in the workplace (and outside of the workplace). The value of effective conversation in the workplace has been researched and demonstrated. The literature on the subject has further promoted implementing these communication modalities. We chose to focus on the concept of essential and effective conversations, as a method in sharing practical tools to enhance respect in the workplace. In this blog, I will focus on one of the seven principles from Susan Scott’s work, “Fierce Conversations: Achieving Success at Work and Life One Conversation at a Time.” This was also shared during the webinar.

“Principal 6: Take Responsibility for Your Emotional Wake”
This concept is key to the consideration of respect in the workplace. “Emotional Wake” has to do with how we come across to others – “what you remember after I’m gone” (Scott, pg. 187). The author uses the image of a boat speeding through a slow zone and the effect that the boat’s wake leaves on the calm waters. This wake symbolizes the impression that we leave after a conversation or interaction with another. Your wake is what people remember about you and how they describe you to others. This can be a tricky concept, as others perceive you through their own filters. Your wake is a combination of what and how you say and do, and how others perceive this. You may not be remembered in the way you intend; hence, the need to pay even greater attention to your wake, i.e. your impact and not merely your intent. Ms. Scott quotes a CEO, frustrated with workplace communication (pg. 191):

“What I get to say is not what I want to say,

Is not what they listen to,

is not what they hear,

is not what they understand,

is not what they remember when I’m gone.

What do I want them to remember when I’m gone?

I need to say that, and only that…clearly!”

What You Don’t Say
Your wake is also significantly determined by what you don’t say. This has to do with expressing appreciation, acknowledgement, and listening. I find that as I age, more and more people are only focused on their own needs and interests. They just don’t listen. They may be fascinating people, but part of their wake to me is that my needs and interests are not important to them. Is that how we want to be remembered? Appreciation is “value-creating.” Expressing appreciation is helpful when creating desired emotional wake.

Self Respect
We may encounter situations in the workplace in which people have created such negative wakes with one another that they begin to give up on their relationships altogether and are deadlocked in conflict. All they see is the negative wake of the other, and this perception may continue to amplify over time. In these situations, it is clearly essential to “check out” our perceptions of others. It often happens that each person has built up and reinforced erroneous, negative assumptions about the other. It is just as important in these situations to have “fierce conversations” with ourselves. Our own lives must be working and positive in order for us to leave a positive wake; the wake we choose and want. These can be the most challenging times to consider our own emotional wake. What we frequently see is individuals making the choice to simply protect themselves by pulling back and withdrawing from the relationship. While this may seem to be a better choice than engaging in conflict, the result will further drive the “negative wake.” In this case, people are neglecting the need for appreciation and acknowledgement of the other. The most respectful choice may be to look inward and recognize the need for internal change, rather than attempt to control the situation through inauthentic defenses.

Eliminate “The Load”
“The Load” is the unspoken tone underneath the words we use, or sometimes the choice of words we use. These are implied meanings, either unintended or at times intended. This could be a “sugary sweet” cover up for a deflection or dig. It could also be an aggressive and threatening tone. We don’t have total control over others’ perceptions of us; however, we do have influence and can increase this influence by paying attention to what our intentions are, being mindful of our word choices and non-verbal’s, and eliminating the “loads” from our conversations. Practicing mindfulness may be the best way to achieve this. Mindfulness is observing ourselves in a way that allows us to see our behavior as objectively as possible and without judgment. This is a mirror to the self. The more we can develop this capacity, the more we can experience our emotional wake as others might experience it.

Conclusion
Respect in the workplace is a value to all of us. It is essential to productivity, teamwork, and job satisfaction. Respect must also be an expectation of the organization. We see the fallout when respect has broken down in the workplace. There are many elements to creating and maintaining a respectful workplace. Learning and practicing effective and respectful conversations is one of the best tools we can offer. This is especially true in difficult and challenging situations. It is not the challenging situation itself that is the problem. Disagreement and conflict are normal in any healthy workplace. How we handle these situations is the key to maintaining respect. Paying attention to our emotional wake is our first and primary responsibility in what, and how, we contribute to this end.

“There are people who take the heart out of you and there are people who put it back.”
-Elizabeth David, from Fierce Conversations

Patrick Hiester MA, LPC
Vice President of BizPsych

_______________________________________________________________________________________
Scott, Susan. (2002) Fierce Conversations: Achieving Success at Work and Life One Conversation at a Time. LOCATION: Berkley.

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Workaholism…Society makes it Easy!

Nic Mckane — Tue, 19 Apr 2011 20:37:51 +0000

In recent HR publications, there has been a new addiction highlighted. This addiction is becoming more and more common and is typically seen in a positive light but can certainly have detrimental effects. Workaholism affects an estimated 30% of the general population and is characterized by a dependence on work (Elowe, 2009). A recent Harvard Business Review study produced statistics about workaholism: nearly 35% of higher earners work more than 60 hours per week and 10% work an average of 80 hours per week. An extreme worker is one who works 60 hours per week with tight deadlines and may have lots of subordinates and responsibility for profit (Pfadenhauer, 2007).

Workaholism is similar to other addictions in many respects. Workaholics may sneak around work, they may lose interest in other activities, and they may constantly think about how much they prefer to be working. Workaholics even have the perfect vices to keep them in contact with work – smart phones and laptops. In addition, the workaholic is further bred by a culture that reinforces success, overachieving, and the importance of accomplishments. Most workers who fall into this “workaholic” or “extreme” worker category are given constant praise, opportunities, and higher wages (Osterweil & Hitti, 2011).

So, higher wages, being successful – wow! Sounds great! Now, what’s the flip side? Well, there are negative implications of workaholism as well. Certainly, there have been notable effects on ones’ health; the workaholic may experience higher rates of anger, depression, anxiety, and even psychosomatic issues. In addition to these unpleasant effects on ones’ health, the workaholic may strain or even ruin family relationships and friendships (Osterweil & Hitti, 2011).

Much like other addictions, workaholics are often in denial. Remember, this is the worker who refuses to take time off of work, thinks about how much they want to be at work while on their cruise, or puts off their son’s games to meet important deadlines. Big picture: they are so embedded in work that they can’t even imagine asking for help or setting better boundaries (Osterweil & Hitti, 2011).

There are some small steps that employers can take to encourage employees to enjoy a work-life balance. Only allow personal time off (vacation, sick, personal, etc) to accrue so high. Also, consider not allowing employees to “cash out” their accrued time so they “use it or lose it.” Don’t set precedence that hours worked correlates to more success in the company. Acknowledge that your healthier, happier employees will likely be more efficient.

Are you a workaholic? Take this quiz…

http://www.healthyplace.com/psychological-tests/stress-workaholic-test/

Daniél C. Kimlinger, MHA
Human Resources Specialist

References

Elowe, J. (2010). Workaholism: Between Illusion and Addiction [Abstract]. Clinique Psychiatrique, 4(36), 285-293.

Osterweil, N., & Hitti, M. (2011). Are You a Workaholic? You might as well face it — you’re addicted to work. Could your workaholism be hurting you? In Health and Balance. Retrieved April 19, 2011, from WebMD website: http://www.webmd.com/balance/guide/are-you-a-workaholic

Pfadenhauer, D. (2007, June 4). Workaholism, the New Addiction. In Strategic HR Lawyer. Retrieved April 19, 2011, from EP Advisors website: http://www.strategichrlawyer.com/weblog/2007/06/workaholism_the.html

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10 Challenges for your New Year

Nic Mckane — Fri, 10 Dec 2010 19:10:16 +0000

How to make 2011 a successful year for you and your employees

Dr. David Javitch wrote a wonderful article published at Entrepreneur.com that I would like to share. As resolutions/goals are a popular topic at years end, his highlights can give a a great foundation for setting goals relative to your employees.

For example, he mentions that cross training employees can help motivate them and allow them to assist collegues in completing new tasks. Their value and and responsibility will naturally increase while motivating them.

You can find the entire article and the other tips here.

Posted by Ian Holtz, Manager at MINES and Associates.

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