What makes you feel more successful — feeling personally fulfilled or wealthy? According to a recent study by American Express, personal fulfillment is more important. This means that throwing cash at employees to boost their motivation is not as smart as giving employees a sense of accomplishment, being respected though team work and fulfilled.
In American Express’s new study on American views towards success the findings are that most Americans believe success is no longer rooted in a sense of “arrival.” Instead, success is defined primarily by the experiences they accumulate, detours they embrace and passions they pursue throughout their lifetime. The study dubbed the 52% of American consumers who most exemplify this new sentiment “LifeTwisters.”
When I described success ( success is the 6th TIGERS Principle responsible for high performance, cooperative teams), I described it as achieving goals with high levels of personal satisfaction and a sense of fulfillment. Today, Americans say they define success by what they do more than by what they have.
Today, Americans say they define success by what they do more than by what they have.
Dozens of the study’s findings reflect this notion of success, but perhaps none more starkly than the sentiment that Americans ranked “having a lot of money” 20th on the list of 22 contributors to having a successful life. Further, the rankings showed that the vast majority of Americans (81%) believe that knowing how to spend your money well is a far greater indicator of leading a successful life, than simply having money in the first place. In addition, the vast majority of Americans (72%) say they’d rather spend money on experiences than material things.
“American Express has been synonymous with success for much of our 163-year history,” said Josh Silverman, President Consumer Services, American Express. “Today, Americans say that feeling successful is driven less by the amount of money they earn, and more by having a job they love, rewarding relationships and contributing to their communities.”
Americans ranked their top contributors to leading a successful life:
- Being in good health (85%)
- Finding time for the important things in life (83%)
- Having a good marriage/relationship (81%)
- Knowing how to spend money well (81%)
- Having a good work/personal life balance (79%)
- Having a job you love (75%)
- Making time to pursue passions and interest (69%)
- Being physically fit (66%)
- Always trying to learn and do new things (65%)
- Embracing new experiences/changes (65%)
Americans are Embracing Life’s Twists and Turns
America is a country where people disagree on everything from pizza toppings to the designated hitter rule. Yet in one of the survey’s most telling findings, 95% of respondents – from all income levels, genders and age ranges – agree that the road to success is likely to involve detours and unexpected changes. In fact, an overwhelming 83% of Americans, including 79% of Boomers, still consider themselves to be “a work in progress.”
Today’s digital world has accelerated the rate of change, making it a more frequent and expected occurrence for a greater number of people. As a result, a majority of Americans say they are willing to take any number of roads less traveled to achieve their goals. When consumers were asked about their life paths, the most heavily populated group (52%) was composed of “LifeTwisters” – those who have a distinct life path in mind but are open to occasionally veering off that path to embrace the changes life throws their way.
Closely related to LifeTwisters, “Reinventionists” made up an additional 11% of Americans. This group is much more proactive than LifeTwisters in precipitating change — with the specific goal of reinventing themselves again and again.
Designing a Life Well Lived
Today, 58% of Americans say they’re more willing to try new things now than they were five years ago. When asked why, 55% said they have a better understanding today of what makes them feel fulfilled, while 43% said they desired more variety in their lives.
In pursuit of novelty and trying new things, many Americans have a ‘Bucket List’ of accomplishments they would like to achieve. The top five “Bucket List” items include:
- Traveling to new places (88%)
- Having children (76%)
- Pursuing passions as a hobby or career (75%)
- Volunteering time for a cause you believe in (70%)
- Doing something with your hands (60%)
A majority of Americans (57%) still have aspirations to become rich, but when prioritized among items like the opportunity to travel and having a rewarding family life, it ranked #8 on America’s bucket list – right below learning how to be a better cook.
So let me ask you — given these findings how would you use motivations to feed the desire for fulfillment?
Copyright TIGERS Success Series by Dianne Crampton
TIGERS Success Series is a leadership and team development consultancy helping leaders build teams of engaged, loyal, cooperative and quality-focused employees at all levels of operations. We license and certify HR executives in the use of our proprietary team development tools designed to boost team trust, interdependence, genuineness, empathy, risk and success. Learn more