In some workplaces “competition” is a dirty word. Many employees immediately think of being aggressive, cut-throat or not being a team player. And we often hear business leaders use the phrase, “collaboration versus competition” to pit one against the other. Truth be told, there are benefits of a competitive mindset at work, and competition and collaboration can coexist.
Some experts believe competition at work is positively awful, while other leaders say competition is positively wonderful in that it drives creativity. Still others insist that healthy competition can lead to team wide success and encourage employees to set higher goals and push past their limits. Employees may try a new technique or embrace their workplace technology to its full potential if they are “competing” against co-workers for the #1 spot.
So says Amy Walker, executive vice president of sales at Paycom. In fact, she believes that her participation in sports taught her about perseverance and high standards but to always try to run alongside other people. Walker says she strives to do her best and will be right beside her teammates cheering them on to do the same.
Five Benefits Of A Competitive Mindset At Work
I spoke with Walker by email, and she shared how competition at work can be beneficial to the individual employee, the team and the company’s bottom line.
- Rising to new challenges and setting high bars. “Competition has a powerful way of inspiring employees to reach new heights and achieve goals they never thought possible,” according to Walker. “I’ve always taken the approach of ‘we all go to work, so we should take that as an opportunity to do our very best while we’re there.’ She suggests that when companies foster a healthy competitive environment, they encourage employees to strive for excellence, set high standards and push themselves to do their very best. “While not every employee will win every competition,” she acknowledges that, “it’s more about creating a new vision of what’s possible for the team, celebrating those who rise to the challenge and encouraging those achievers to teach teammates their tools for success.”
- Creating a sense of camaraderie and shared success. Walker emphasizes that competition doesn’t mean pitting employees against one another. “Encouraging employees to work together toward a shared goal or reward can help create a sense of camaraderie and success among a team,” she explains. “At Paycom, one of our core values is winning, but it’s more about ‘winning as one’ rather than just individual success. When one of us wins, the whole team becomes closer to reaching our collective goals, which becomes a massive boost in culture.”
- Boosting employee confidence and personal growth. Walker states that competitive individuals tend to have a growth mindset, which will help them go farther in everything they do. “Although winning competitions undoubtedly generates a confidence boost, ‘losses’ can teach just as much as wins do,” she points out. “Encouraging competitions in the workplace can help develop resilience and perseverance, as employees learn to bounce back from setbacks and keep pushing forward toward their goals. Competition doesn’t mean you always win, but it does create opportunities to learn from failures and use them as drivers for growth.”
- Driving business growth and development. From a business standpoint, Walker says competition encourages teams to strive for excellence and push beyond their perceived limits. She adds that this can lead to increased revenue, improved retention and a stronger company overall.
- Promoting a sense of employee fulfillment and recognition. “Not everyone is going to be inspired by a leader board or public recognition,” Walker admits. “But most employees strive to know they are doing a good job and that their work positively impacts the company.” She recommends that employees find a way to quantify what a “win” means for your team and how it ladders up to the company’s goals. Then, she advises that you foster excitement around reaching that goal. “When individuals are empowered to win in the workplace, they’re more likely to experience a sense of fulfillment and take pride in how their achievements contribute to the organization,” she concludes.
A Final Takeaway On Benefits Of A Competitive Mindset
The start of a new year is a great time for leaders to energize their teams, and there are a number of strategies they can employ to combine collaboration and competition to foster personal and professional growth. When friendly competition is encouraged, it builds high team morale. Think of the 2024 Paris Olympics, where Snoop Dog became a unifying voice amid the healthy competition. Those images exemplify the benefits of a competitive mindset. I can’t help but wonder how much more engaged and productive employees would be and companies would profit if they promoted collaborative competition instead of aggressive conflict.