The 6 myths of the written contract: and how to achieve breakthroughs with the Psychological Contract

Contracts have underpinned commercial relationships between parties since time immemorial. Originally simple agreements of "you do x and I'll give you y", these have become very Byzantine documents for what remains as a "you do x and I'll pay y" arrangement, even though the "x" is increasingly complex and the "y" likewise.

Over many decades of practice, the practical limitations of contracts have become starker. For instance, circumstances now can change dramatically over the term, therefore contract owners less and less likely to know what they truly require. Nor do they fully understand what the actual risks may be presented moving forward. In addition, providers rapidly change offerings and capabilities, and markets are created, expanded, and narrowed regularly.

There is one thing, however, that has not and will not change. That is the importance of the people that ultimately deliver success - and how little they rely on the contract to do so.

In this Whitepaper, we share with you the criticality of the psychological contract (PsyCon) - the deal that you perceive has been agreed to.