Could Self-Interest Actually Be the Foundation for Greatness?

Over recent years, we have lived through a time of considerable self-reflection and disruption. Crises are the adrenalin for innovation, and we have seen the most extraordinary results from individuals, teams and organisations digging deep and pivoting amidst uncertainty. If you want a reminder of the untapped potential that exists in all of us, you just need to look around you at the extraordinary things we have done, and the constant change we continue to adapt to.

Reflecting on our own journey is an inevitable consequence.  What has changed for me? What am I noticing more than I did previously? What have I learnt about myself and about others?  How have my priorities changed?

As the landscape continues to shift around us (Hybrid, Cost of living, Macro-Economic Environment), our reflections and increased self-awareness should cause us to review the ‘maps’ we are using to navigate with. Are we operating with out-dated prejudices and biases that aren’t relevant to the world we find ourselves in today? As leaders especially, are there some mindset shifts we need to make in order to increase our positive influence?

For me, a significant blind spot is our mindset around self-interest.

Shedding the stereotypes around self-interest

It may seem uncouth to admit to but reflecting on our self-interests is essential for our happiness and wellbeing.  It enables us to provide food and shelter for ourselves.  It is necessary for our economic and professional success.  It sets aspirations and focuses on our needs.

The upheaval of the pandemic, and the reimagining that came out of it, has brought this instinct in all of us more to the fore. On an individual level people have started to give themselves more permission to seek personal meaning, prioritise their growth and optimise their contribution. Another way of seeing acting with self-interest is utilising your strengths. Recognising your self-worth. Making changes when changes need making.

It doesn’t mean not caring about other people. In fact, a strong self-interest is a core component of those who are most concerned about other’s welfare. If you don’t care about yourself, how can you care about others?

Nonetheless, despite all this it is still a fact of life- or societal norms- that in a group setting self-interest sets people on edge. To many it evokes insincerity and prompts suspicion. The possibility of someone drifting from the pack inherently doesn’t sit well people. The perception or assumption is that taking care of your own needs must have a negative impact on someone else.

At work a knee-jerk reaction to seeing colleagues or direct reports focusing on their own success is to deem them “not team player”- the accepted standard for being a “good person” in business. What is perhaps never interrogated is the possibility that a celebrated “team player” might be too dependent on those around them to be truly effective, and so no intentional effort is made to develop their independence.

It is the pervasiveness of this mentality throughout society and organisations which can result in an individual feeling guilty or uneasy about acting in their own self-interest, creating missed opportunities, stunted potential and ultimately lower life satisfaction.

Self-interest v selfishness

The problem is that self-interest is used erroneously and interchangeably with something which really is detrimental to others: selfishness.

Selfish people tend to be exclusively concerned with themselves, and do not care if their actions of self-benefit inconvenience, damage or hurt others.

To unpack the difference between self-interest and selfishness, let’s take an example: the stigma attached to achieving financial success.

Whether it’s a portrayal in a movie, the media or someone you know, there is historically an assertion that significant economic success somehow comes at the expense of others. That others’ backs have been your ladder.

Consider the difference between the below lenses and which is most likely for the majority of people you interact with:

Selfish Belief – Selfish people don’t care what they must do to get money.  They have no ethics, morals, or standards.  Their main focus is only what’s in it for them.  Although selfish individuals may at times appear to profit, it’s only in the short term and not sustainable.

Self-Interest Belief – If you are acting in your own self-interest, you are compensated financially for providing a desirable service or product. You accept feedback and continuously work to improve. You prosper as the result of helping other people and committing to a purpose.

How can you activate your self-interest?

The practice itself is all about learning, looking back on our day (without bias or regret) to contemplate our behaviour and its consequences. It requires sitting with ourselves, taking an honest moment to think about what happened, what worked, what didn’t, what can be done, and what can’t. Reflection requires courage. It’s thoughtful and deliberate. Being at the ‘top of your game’ only comes when you extract from our past how to engage in the future.

To get its full benefits, you must make reflection a habit. There are three triggers to be aware of which have the power to be transformative moments if we weave reflection into our process of dealing with them:

1.Surprise

• Many things surprise us – it is those moments that greatly derail our expectations.
• When we are mistaken, we are surprised – and mistakes, lapses in judgements and wrongful assumptions are worth our reflections.  

2. Failure

• While surprise can be kept internal, failure is associated with making a mistake visible to others.
• Failure, then, is often behavioural and it manifests as a mistake. The good news is that we all make mistakes.  Mistakes provide raw evidence of what we should not do in the future. Mistakes allow us to learn.

3.Frustration

• Frustration occurs when our judgement is criticised. Or someone parks in our space, our flight is delayed, we get stuck in traffic, or someone is late picking us up.
• Frustration can become growth opportunities upon reflection. That is, opportunities for improvement, change, innovation and even to develop other soft skills like communication, problem-solving and patience.
• At the root of frustration, lies our goals or the objects of our ambitions and efforts. Goals reflect our values, and our values make up the compass that keeps us connected to our higher purpose in life and at work. We’re frustrated when our goals are derailed and we’re not able to get what we want. Pushing through that frustration and finding other ways to cope and move forward results in our growth.

Yet, self-interest is just the start!

Reflection on what makes me who I am, is an executive brain function – it sits at the very core of our ‘human operating system’. True courageous reflection galvanises our willpower. It promotes continuous self-awareness, empowers us, ensures I am valued and gives me the confidence I need to achieve my potential.

Going one step further

Just imagine what can be achieved with a team made up on a diverse group of individuals who have all activated their self-interests (their awareness, their inner drive, their sense of accomplishment) and aligned them to a common cause.

When we lean into our self-interest and encourage those self-aware behaviours in others, we start building the blocks for interdependent teams who bring their individual best to create an even better collective outcome. When this happens, the possibilities are endless!