Insights on Social Intrapreneurship from John Thompson, H&R Block
Nancy McGaw
Author, Making Work Matter: How to Create Positive Change in Your Company and Meaning in Your Career | Senior Advisor to Aspen Business & Society Program | Founder, First Movers Fellowship Program
Welcome to “Conversations with Intrapreneurs,” a series with corporate innovators, many of whom I profiled in my new book, Making Work Matter: How to Create Positive Change in Your Company and Meaning in Your Career. My goal is to share how their work is evolving and glean insights that will help others become more effective in leading change in their own organizations.
In the first installment of the series, I spoke with John Thompson, an Aspen First Mover Fellow since 2011 and VP of Financial Services at H&R Block, to learn how John is connecting his purpose to his current work. I also invited his advice for those who want to be changemakers in the companies but are facing challenges in these disruptive times when companies are pulling back, reducing costs and staff, and seem to be more resistant to social innovation.
Nancy McGaw: You are very clear on your LinkedIn profile about the positive impact you're trying to make in the world. Can you say more about what you mean by “improving financial health for all”?
John Thompson: This concept is really focused on the outcomes we are creating for people. In the U.S., we've talked for years about the importance of achieving financial inclusion. That meant trying to get unbanked and underbanked people into the financial system. The idea was that if we could get them access and get them to use a bank’s products and services, then, all things being equal, good things were going to happen. And I think a lot of that did happen.
However, the housing and financial crisis in 2008 made clear that there were plenty of very well-banked people who also struggled financially. We then started to shift our orientation towards outcomes. We learned we can't just think about access and usage, we have to think about, and design for, outcomes.? ?????
In this environment, financial institutions also began to realize that if they could build a business that actually helps people improve their financial wellbeing, lower their stress, increase their confidence, that would become a competitive differentiator, along with other things that might make their organization, their products, or their services great.?
Central to the concept of outcomes is the idea that financial health isn’t just a feeling, it is something that could be measured. Initially, through surveys, we learned that we could assess whether people are doing well and making good financial choices. And with that kind of information, we can help people in a real way. The future holds more sophisticated ways we can use rich data to measure outcomes in more precise ways. If we understand and study these results, then we can make the things we build work better for the people we build them for.
NM: Your commitment to improving financial health and introducing innovations with the financial system led you to being selected as an Aspen First Mover Fellow in 2011. I’m wondering how the program helped you to be a more effective “corporate social intrapreneur.”
Thompson: One of the things I got from the program was to really get in touch with my own sense of purpose, to know what I wanted and needed from my work. It gave me the confidence to bring all of these things into my professional life. Knowing and communicating your purpose can be a boost to your ability to influence. All the people I work with today know I’m trying to accomplish something, and I’m recruiting people to help us accomplish those things.?
In the fellowship program I also learned specific skills – like problem reframing, listening, and how to navigate within a company and connect with the real influencers.?
I use these skills all the time. For example, when I’m working with another executive who doesn’t see things the way I see them, I start thinking about different ways to listen to them and connect to the way they think about the world or about work. Then I reframe whatever issue we are working on in that different context.?
NM: Could you provide a more concrete example?
Thompson: Sure. Large companies have many processes – like budget setting, forecasting, annual planning, that are enormously important and can seem impenetrable. These processes seem to have a life of their own, and they are a gateway to getting things done.
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It may appear that there is little room for innovation within this structure. But I have found that if I seek out key decision makers and get a deeper understanding of what these frameworks mean and where they come from, I can begin to see ways to innovate within them. Even when maintaining the status quo is identified as a priority, I can show that an idea doesn’t require a wholly new piece of work, it is an extension of an existing thing; it supports current priorities. In that context, I can reframe an idea as a pilot or trial.?
Actually, I think this is the intrapreneur’s dilemma. Intrapreneurs have to dive in and engage with established processes and strategies. They have to find ways to influence and reframe them in order to achieve change.?????
NM: You are a seasoned intrapreneur. What advice do you have for less experienced corporate changemakers?
Thompson: What I have learned over many years is that there really aren’t that many changemakers in companies. These people are hard to find and unique, and it is actually a power in and of itself to be one who has innovative ideas – even though it doesn’t always feel that way. The people who run the company know there is value in what you’re doing.
They know you’re toiling away and struggling against the process, but they also know you are the one who is going to make a real difference. The people who are just following along are not.?
That said, there are times when managers just have to keep everybody rowing in the same direction, and it may feel like your ideas aren’t valued. I have found, however, that these times are cyclical or seasonal or situational. That means that sometimes you just have to weather the storm and simply do your job and deliver results. When you do that, the credibility you earn gives you the opportunity to try to inject more ideas into the organization.?
In tougher times, you must listen for signals. Don’t just check out; do your job and learn from it. Wait. ?????
NM: You have said that companies need innovators and that there are too few of them. Still, it can be discouraging when times are tough. What can management do to support the innovative talent that companies need to thrive?
Thompson: Innovators need to listen for signals. On the flip side, management must send signals of encouragement. I have found that a few nuggets of support are incredibly helpful to keep dreams alive.?
NM: What is next on the horizon for you in achieving your own dream of providing financial health for all?
Thompson: ?At H&R Block, we are about to introduce a set of non-commercial metrics into our business. We’ll begin to study and track the financial health of our customers using the tools developed at the Financial Health Network where I previously worked. We intend to assess the positive and negative impact of each of our products. And we will report these results to the executive team and our board. Considering these results, in combination with our financial metrics, will allow us to have a much broader view of what success would really look like.?
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For more insights from intrapreneurs, see my new book, Making Work Matter: How to Create Positive Change in Your Company and Meaning in Your Career.