Work life has changed radically over the past few decades. We used to have working conditions in which our attention could more easily focus on the task at hand. We now experience distractions and information overload all the time. Our cell phones, tablets, e-mails, texts, and the like place continual demands on our attention. According to Tom Davenport, the former Director of the Accenture Institute of Strategic Change and coauthor of the book “The Attention Economy: Understanding the New Currency of Business”, “Understanding and managing attention is now the single most important determinant of business success.” We are living in an “attention economy” in which the ability to manage our attention and the quality of our attention is key to our success as leaders.
But in the current reality, where our ability to pay attention at will is under siege, we have a problem. The question is how big is this problem? Researchers studying the mind’s natural tendency to wander calculated that on average our mind wanders 46.9 percent of the time. In other words, while we are at work, 53.1 percent of the time our mind is on task. The rest of the time, it’s off task. From a leadership perspective there is a lot of potential to be developed here. Even just a small increase in “on-task” time could have a significant improvement in many aspects of leadership, including productivity, leadership effectiveness, employee satisfaction, teamwork, and anything else that would benefit from more focused attention.
Attention wandering is a natural neurological tendency. But in the Harvard Business Review article, “Overloaded Circuits: Why Smart People Under perform,” researcher Edward Hallowell outlines the fact that attention wandering has increased drastically over the past few decades because of the challenges of the reality. Specifically, he concluded that “modern office life and an increasingly common condition called attention deficit trait are turning steady executives into frenzied underachievers.” Attention is indeed a new variable of economy in business and certainly in leadership.
McKinsey outlines in the McKinsey Quarterly article “Recovering from Information Overload,” that “attention fragmentation hit CEOs and their colleagues in the C-suite particularly hard because senior executives so badly need to synthesise information from many different sources, reflect on its implications for the organization, apply judgment, make trade-offs, and arrive at good decisions”.
Traditionally, business productivity has been enhanced through time management, goal setting, prioritization skills, and general qualifications. Attention, in the reality, is becoming a new foundational skill of leadership and business performance. But the big question is whether we as leaders, facing the reality, are destined to experience attention wandering with resulting underperformance? Are we destined to have minds that often wander and lose focus? Thankfully, according to Edward Hallowell, the answer is no. Attention can be trained and strengthened. It’s much like a muscle. We can enhance our attentiveness to the task at hand or people we are leading.
Researchers on the field seriously recommend that mindfulness is the method. And make no mistake, mindfulness is no touchy-feely, New Age concept. Based on thousands of years of development, mindfulness is a rigorous practice of enhancing focus and clarity of mind while opening the eyes to the potential in ourselves and the world. It is a practice of mental high performance, and in many ways a long-awaited answer to the challenges of today’s fast-paced and information-overloaded leadership reality. Decades of research shows that our brains are changeable. It’s called “neuroplasticity”.
In short, the way we use our brain is the way we reshape it. According to research studies, any action we do or thought we think is creating neural pathways in our brain and becomes easier to repeat. The brain is changing according to how we use it. This means we are not predefined by what we are now, but rather we are recreating ourselves by what we do now. This means that every moment we spend with a focused and clear mind, focus and clarity become traits of our brain. In the context of the attention economy, this means we are not destined to have a wandering mind. We can train ourselves and gain high levels of attention, focus, and clarity of mind and thereby become better leaders of our own lives, business and the people.
Mindfulness involves entering the attention economy and being able to manage our wandering mind and external distractions. But the practice has an impressive list of research proven by-products including stronger immune system, lower blood pressure, reduced stress, better sleep, improved cognitive function, enhanced focus and awareness, increased job satisfaction, better work−life balance, enhanced creativity, and better overall quality of life. Realizing benefits from mindfulness requires formal training that can be viewed as going to the gym for the mind.
Many of the approaches to mindfulness training includes helping individuals enhance focus and awareness – critical skills for today’s leaders. Focus is about training the mind to maintain sharp focus on a particular task, with minimal distraction, for a long as we want, with minimal effort. Awareness is about training the mind to be open and see clearly what is happening internally and externally and make wise choices about where to focus your attention.
Sharp focus is the opposite of being distracted. And the opposite of open awareness is to be on autopilot, not having awareness of where we direct our focus. These mind states can be combined into a matrix. According to Edward Hallowell, our state of mind can be described as being absorbed. It often happens spontaneously when we do routine tasks or run, swim, or do other monotonous activities. The risk of the absorbed state is that we lack awareness. In leadership, lack of awareness can mean the difference between picking up on an employee’s stress signals and pushing too far.
There can be benefits to loosening focus and allowing random thoughts to bubble up. Some people find that they come up with more creative ideas. But if our mind is too distracted, we’ll have difficulty retaining any good ideas. Good ideas only become innovative solutions when we have the focus to retain and execute them. Sharp focus and open awareness are beneficial skills for anyone at any level of an organization, but they are particularly important for leadership. In many people,s view, mindfulness is a foundational skill for effective leadership.
Mindfulness is about developing high levels of self-management by switching off the autopilot and getting in the driver’s seat of our life. Mindfulness also cultivates the ability to be more aware of others, which is a cornerstone for leading people and leading an organization. Peter Drucker said that we can’t manage others unless we learn to manage ourselves first.
The attention economy
New Reshuffle
Gedu Andargachew is appointed as Foreign Minister and Lemma Megersa is appointed as Defense Minister in a new reshuffle of cabinet
Al-Shabaab behind thwarted terror plot
Corruption crackdown finds unfair bidding on meds, tech, wheat
Attorney General Berhanu Tsegaye says federal security forces foiled a planned terrorist attack plotted throughout the country and slated to occur over the last two weeks. The terrorists targeted crowded meeting halls, city squares and roads.
“Letters, photos, passports and other evidence indicate that an attack was imminent and attempts would be made to kill many people. Foreign based terrorists were involved, including Al-Shabaab’’ he said during a press briefing.
Berhanu did not say how many people have been arrested so far in relation to the terrorism case but he said they are searching for more suspects.
The Attorney General went on to say that 59 government officials, business people and other middle men have been arrested for corruption.
Those in custody include Haileselassie Bihon, the former head of the Pharmaceutical Fund Supply Agency, Yigezu Daba, director general of the Public Procurement & Property Disposal Agency, officials of the Food & Drug Administration Agency, the Pharmaceuticals Fund & Supply Agency and the Ethiopian Water Works Construction Enterprise are also under custody.
Public Procurement & Property Disposal Officials sold 400,000 metric tons of wheat to a foreign company who offered USD 94 million but the procurement should have been given to another firm which offered a lower bid of USD 75 million.
The officials neglected to transport the wheat using Ethiopian ships which cost the country USD four million. In addition, they are accused of allowing a local company to buy computers, which had not been proved to be technically competent.
Pharmaceutical Fund Supply Agency employees were arrested for buying 79 million birr and USD 479,000 worth of drugs from one company without issuing a bid. They were also charged with buying 92 million birr drugs from one company even though other companies offered lower prices in their bids.
Higher officials from the Ethiopian Water Works Construction Enterprise are also part of the crackdown suspected of buying 58 million birr worth of steel without getting approval from their board.
“Some of the suspects have left the country while others are here but we will work hard to find them and bring them to court,” the Attorney General said.
Berhanu says that violence is occurring in the country because people don’t understand the law.
“When we are telling people we are in a changing process to make a better country, some people violates the rules and damage their own country. By no means can we tolerate violence but we must have evidence to charge somebody. We are working to prosecute those involved in the recent violence in Amhara and Oromia regions.’’
VAT reporting period extended
The Ministry of Revenue (MoR) is vying to extend the Value Added Tax (VAT) declaration period beyond the current one month to three months.
MoR has been working to simplify tax law and become more efficient. Recently it made a change to the VAT refund directive, in order to have the refund delivered within 45 days instead of the previous five months.
Befirdu Messeret, Tax Payers Education Director at MoR, told Capital that they are trying to make doing business and paying taxes easier.
Sources at MoR told Capital they are trying to loosen the VAT declaration period and allow more time.
Currently businesses registered to collect VAT have to settle their collection in the month after the collection period. The current proposed option may allow VAT declarations to be settled within three months, although a final decision has not been made.
Many felt one month was too short a time to settle VAT and that MoR facilities were inefficient.
VAT collection, which is 15 percent of most of sales of goods and services, is a recent addition to the tax regime in Ethiopia, applied after the ratification of Proclamation No 285/2002 and implemented since 2003.
The tax body is also undertaking several changes in the tax settlement processes, which they plan to announce soon. They have also formed a group of government leaders under the chairmanship of PM Abiy Ahmed to improve the country’s doing business rank. The World Bank’s 2019 Ease of Doing Business put the country at 159 from 190 countries. Regional countries like Rwanda and Kenya stood at 29th and 61st respectively.
There have been marked improvements with tax collection in the past few months, which is a change from the trend of the last two years.
Compared with other countries tax collection is poor. Two years ago, the government improved the tax GDP ratio about 13 percent, then it declined to 11 percent last budget year. The government projects that the GDP tax ratio will stand at 17 percent by next budget year, which is the last year of five-year development program, Growth and Transformation Plan II.