Next Generation Next Destination

ENTITLED TO MOVE UP VS. THE OPPORTUNITY TO PROVE YOURSELF WORTHY

Ilene Gordon was given the challenge at age 32 by a mentor to manage a group of people more than 20 years older. The challenge for this executive several years out of business school was to get the best out of them, to motivate and inspire them.

From this experience, she learned the philosophy of putting people in jobs where they had to stretch, jobs they were not ready for at the time, from this mentor who realized she was smart, analytical and focused and needed greater challenges. Now in her position as CEO of Ingredion, her employees love to hear that philosophy because they know they are going to get opportunities. A Boomer, she “gets it ” that what Gen Y/Millennials want is opportunity and challenge. Often impatient, many of them want that opportunity before, given their relatively short tenure at work, they would be judged to be ready.

This story was shared by Gordon in an interview with Adam Bryant in his Corner Office column in the New York Times (3/17/13). She urges young people to have tenacity rather than just leaving if things don’t happen for them quickly and to have backup plans because things don’t always work out. Young people have to learn to deal with adversity in life and work, and that’s where the backup plans come in. In promoting she looks for energy, drive and the ability to get things done through other people whether all on site or in virtual teams.

The lesson here for the young generations is that they are not entitled to rise quickly just because they think so or want to, but managers should give them opportunities to stretch and grow and prove themselves worthy of promotion and significant responsibility. It’s up to the individuals to figure out what to do, use their energy, and learn the interpersonal skills to lead a team to succeed. Their team members will make them look good if they provide the resources needed and make the team members look good.

What do you think of this philosophy?  Do you think many managers will take the risk and trust it will work out well? They also need a backup plan and create a culture where it is all right to fail.

Phyllis Weiss Haserot     www.pdcounsel.com  

Related articles

Young Generations' Approach to Philanthropy

Research on "Family Narratives" Can Help Organizations Thrive Too.

Generational Differences Globally

WISDOM REQUIRES LETTING GO

What do we lose by continually cramming more data into our brains? Most of us are doing that these days, and perhaps Gen Y/Millennials most of all since it is a hallmark of their education.

Let’s look at the contrarian view: How we gain by subtracting.

Matthew E. May, author of “The Law of Subtraction: 6 Simple Rules for Winning in the Age of Excess Everything,” quoted the teaching of 2,500 year old Chinese philosophy Lao Tsu. “To attain knowledge, add things every day. To attain wisdom, subtract things every day. Profit comes from what is there, usefulness from what is not there.”

In support Mays quoted management guru and author Jim Collins: “It is in the discipline to discard what does not fit – to cut out what might have already cost days or even years of effort – that distinguishes the truly exceptional artist and marks the ideal piece of work, be it a symphony, a novel, a painting, a company or, most important of all, a life.”

Mays’ advice as given in the New York Times Preoccupations column (1/20/13) in a nutshell is to:

1. Create a prioritized list of your goals and your projects and tasks.
2. Create a “to do” list referring to the first list and eliminate the bottom 20% of the items entirely – he says forwever.
3. Ask all the stakeholders in your life that matter to you what they would like you to stop doing.

Mays says when you remove the right things in the right way “good things happen.”

To really simplify and achieve this you need the stakeholders’ perspective. It’s best not to rely only on your own assumptions. It’s hard for us to let go of ideas, “bright shiny objects” that distract us ,and no longer useful to us activities and involvements. I confess to being guilty of that hardship.

Does this approach feel like a relief or threat to you?  Please comment and also share your experiences with trying to subtract from your work and life.

Phyllis Weiss Haserot   www.pdcounsel.com

CAREER ENTREPRENEURSHIP

 How to make members of each generation see they are owners/masters of their career enterprise is a challenge in many organizations. It’s what I call “career entrepreneurship,” and the need for it won’t disappear with an economic upturn. I wrote about it (recently) from a Baby Boomer perspective for Next Avenue.

You need to start learning to ask yourself some foresighted questions such as:

• What trends are likely to affect my opportunities and roles?
• What will become obsolete and will require me to change?
• What do I need to learn and do to keep increasing my relevance?

Beverly Kaye wrote about that change in perspective and approach in her book “Help Them, Grow or Watch Them Go: Career Conversations Employees Want to Have” (BK Business, 2012). Individuals need to think about role shifts that require mind shifts, and employers need to support this more entrepreneurial thinking as positive for them as well. Some mind shifts include:

• The goal doesn’t have to be the top position. And if you’re at the top, there are future role shifts that can be satisfying and creative.
• There are alternate paths for different people at different times.
• You can choose riskier or safer moves and shift from one to the otherover a career span for what feels right at the time.

In any case, don’t put artificial limits on yourself.

Work has changed. Job discussions and requirements have changed, and training has not kept up. You may have to re-invent yourself – or not. But the concept of what I call career entrepreneurship, taking charge of your own career development, is a winning strategy for anyone determined to succeed.

Phyllis Weiss Haserot   www.pdcounsel.com

ARE WE FLEEING FROM CONVERSATION? Is it generational?

“The Flight from Conversation” by Sherry Turkle, her opinion piece in the New York Times Sunday Review, suggests that our connectedness to and by electronic gadgets have changed “not only what we do, but who we are.” I had the privilege of meeting and hearing Turkle speak at the Renaissance Weekend in Charleston, SC in December 2011 on this and related subjects. She claims that people are alone together. “We have gotten used to the idea of being in a tribe of one.”

Some examples from Turkle you may relate to:

“We want to go to a meeting but pay attention only to what interests us.”

“Young people who have grown up fearing conversation show up on the job wearing earphones.” Turkle told of a partner at a Boston law firm who described a scene of associates in his office who come in and lay out their “suite of technologies: laptops, iPads and multiple phones. Next they proceed to put on a pair of large earphones. It’s like pilots in their cockpits. There is a silence that suggests they don’t want to be disturbed.

It’s not just enjoying the use of tech toys. Social media, e-mail and texting enable us to present ourselves as we would like to be, which may not be how we are, observes Turkle. We can edit, create avatars, perfect photos. We can clean up messy and demanding human relationships with technology.

Turkle says “sips” of online connection (all of which have their place) don’t add up to a big gulp of real conversation and don’t add up to really knowing each other. Nuance is missing. It’s dumbed down, like watching only cable news headlines. And lack of conversation translates to missing development of self-reflection skills, so we are cheating ourselves as well.

Turkle gave some examples of how some people are seemingly desperate for someone to listen to them but seek out Siri (on Apple’s iPhone) or some other surrogate for the person they really should be conversing with because it’s more comfortable. “We expect more from technology and less from one another and seem increasingly drawn to technologies that provide the illusion of companionship without the demands of relationship,” wrote Turkle.

“I am a partisan of conversation,” she wrote. “To make room for it I see some first deliberate steps.”  She goes on to suggest ways to create device-free rules, times and spaces at home, work and vacation. “Most of all, we need to remember to listen to each other, even the boring bits, because it is often in unedited moments, moments in which we hesitate and stutter and go silent, that we reveal ourselves to one another,” Turkle stated.

We tend to associate constant electronic communication and being tethered to those gadgets with the youngest generations. Is that actually true? Haven’t older workers caught the fever too? Are they fleeing from real conversation?

Clearly I sympathize with Turkle’s view since the Cross-Generational Conversation group I started and moderate on Linkedin is one conscious attempt to get people of different generations conversing and sharing their perspectives. (Do check it out!)

But is the situation quite as bad as she points out, and how far can we modify the current habits? Here are some questions that come to mind:

• What would motivate people to adopt device-free actions that Turkle suggests? (in meetings, at home, on vacations, in cars)
• Are electronic connections keeping us from connecting emotionally?
• Are many of us avoiding the messiness of relationships and self-reflection in a delusionary effort to seek perfection?
• Is Turkle’s view an over-reaction?
• What other questions does this issue raise for you?

Please comment and share your thoughts.

Phyllis Weiss Haserot    www.pdcounsel.com

 

ADVENTURE, LOVE AND PURPOSE IN ENCORE YEARS – and Contest

I periodically pass on information from Marc Freedman, founder of Civic Ventures and Encore Careers on this blog to let you know about applications for prizes, awards and other information of note. In this post, I am spreading his news about a highly recommended movie with a sensational cast and a contest. Below are the details.

I’m writing to let you know about a beautiful re-coming-of-age movie, starring Judi Dench, Tom Wilkerson, Maggie Smith and Bill Nighy, along with Dev Patel, the young star of “Slumdog Millionaire.”

“The Best Exotic Marigold Hotel,” is about adventure, love and purpose in the encore years. If you love to laugh and travel -- and are wondering what’s next in your life -- you’re in for a treat.

And you could be in for a prize, too…if you enter the Marigold Ideas for Good Contest.

http://www.takepart.com/marigold/contest?cmpid=encore

The contest is for people over 50 who have great ideas for doing something to improve the quality of life in their communities.

Each month for the next six months, Participant Media -- with help from the voting public and Encore.org -- will select five winners. Each will win a $5,000 grant; one will win the money plus the trip of a lifetime from Road Scholar.

So if you’ve got an idea about how you can make the world a better place for future generations, I hope you’ll enter today.

http://www.takepart.com/marigold/contest?cmpid=encore

Spread the word. There’s no time like the present to start thinking about what you’d like to do for an encore!

 

 

 

PROFESSIONAL PARTNERSHIP TRANSITIONING PREDICAMENTS

My guest blogger for this post is Brannon Poe, CPA of Poe Group Advisors in Charleston, SC, who advises accounting practices on practice management and selling their practices and author of Accountant’s Flight Plan.

There are two dilemmas that rattle the human skull: How do you hang on to

someone who won't stay? And how do you get rid of someone who won't go?

Danny DeVito, in The War of the Roses

When it comes to practice sales, timing is everything. It’s rare for practice partners to have the same exit timetable. Tensions mount when one partner wants out and the remaining partner either doesn’t want to buy the business or sell to a third party. If partners are the same age, the odds for a smooth dissolution are improved, but even a couple of years’ difference can strain a sale. 

In a small practice, the process of selling or retiring is complicated for both the senior and junior partner in question. Motivations are completely opposed. The senior partner is ready to move on, while the junior member is often very resistant—understandably apprehensive about the changes this will mean for the business’s operation and his or her livelihood. Change is rarely welcome, and taking on a new outside partner can be a frightening prospect, as is the possibility of running the practice without the senior partner. Finding the right replacement partner is far easier said than done—just ask any departing partner who has tried to please an objection-filled remaining partner! Sometimes the junior partner is empowered by this naysayer role, and any perceived previous injustices seem to rise to the surface as negotiations move forward.

Making someone a partner is a significant step, one that shouldn’t be taken lightly. If you feel that partnership is the right path for your practice, great care should be given to selecting an attorney who can help structure your partnership agreement. This contract should clearly address exit strategies by any one or a group of partners. Excellent legal advice at this juncture is one of the best investments you’ll ever make.

Spend some time and money on your partnership agreement and make sure the lawyer you use has significant experience in this area. You’ll be glad you did.

Brannon Poe, CPA

www.poegroupadvisors.com

The above is an excerpt from Accountant’s Flight Plan, Best Practices for Today’s Firms.

 

MANAGING EXPECTATIONS FOR GEN Y AND THE REST OF US

“How we manage expectations is critical to how we pursue our goals,” wrote Alina Tugend in her New York Times column Shortcuts (1/14/12) as she searches for guidance for managing expectations on health and all things in work and life large and small. In these times of a challenging job market and financial future, the psychology of expectations is a significant influence factor in degree of happiness and satisfaction.

Citing brain research, Tugend reports that “negative feelings are much stronger than the good feelings we get when expectations are exceeded.” Further, our brain sends out messages of danger or threat when we don’t meet our expectations.

Several studies about students have found that the best way to motivate them is to set high expectations and let students think they can stretch their capabilities to reach them, even if they have not been high achievers previously. We should want to maintain these high expectations of achievement in the work world.

Tugend concludes there is no “template” to manage expectations in all situations. “It seems as if it is best to have low expectations if things are out of our control, realistic expectations for things we can control to some degree and high expectations of ourselves,” she said. She favors Mary Grogan’s view on Mindfood.com: “It is having flexibility in our expectations and being willing to change track without self-blame that has been shown to increase well-being.”

So how do we translate this for new entries into the workplace and their managers, whichever side we are on?

• When setting high expectations, foster a culture absent fear that not achieving the expectations will result in significant punishment or perceived failure if uncontrollable factors come into play. Many Gen Y/Millennials have had (and still expect) help from parents, teachers, tutors, mentors and fear failure in their eyes, so they thrive better in a supportive culture.
• Be clear and repeat expectations so they are known and not misconstrued.
• Don’t habitually set expectations and goals artificially low in order to appear to over-deliver or your capabilities are apt to be questioned.
• Don’t over-promise to please in the immediate and set yourself up for failure ultimately, which will also hinder your team or project.

Managing expectations is a delicate balance and a considered calculation is needed for each situation.

Phyllis Weiss Haserot   www.pdcounsel.com

 

 

BOOMER LEGACY MEET GEN Y ENTREPRENEURISM

As professionals and executives become more senior, there is often a desire or expectation, self-generated or from others, that they will want to devote themselves to "good works" as a legacy. Leading edge Baby Boomers, tracing back to their formative years in the 1960s, started out as a generation to be socially conscious, involved and eager to make significant contributions for a better world. As they matured and became intensely immersed in their careers, often achieving substantial recognition and financial success, some are well on their way to fulfilling their "legacy bucket." Others have been too busy to think about it.

The philanthropic and pro bono world is watching. For example in the legal field, both the American Bar Association's Second Season of Service Initiative and some local entities such as the Association of the Bar of the City of New York have been eyeing and expecting senior lawyers nearing traditional retirement age to become a large talent pool for pro bono work.  The Great Recession’s effects may have changed or delayed that for a lot of them.

Pro bono, volunteering or unpaid work is not for everyone. In our *Next Generation, Next Destination* client interviews, we find that many Baby Boomer professionals want to continue to play in the business arena – with financial compensation. This was true before the recession, and is more so now.

So I had an interesting thought. The hedge fund managers and tech entrepreneurs under age 40 have started to think about philanthropy and how to use their money to do good. But many don't want to do it in the traditional ways. They are interested in starting their own entities with a different model which combines making money with doing good things for society. Perhaps some of those seasoned Baby Boomers can link their legacy time, expertise and desire to continue to contribute with the Generation X and Y entrepreneurs for some hybrid organization that takes advantage of the best each generation has to offer.

I, for one, would look forward to seeing how this can take shape. There certainly are limitless needs, causes and opportunities whether built on a not-for-profit or for-profit model.

I'd love to hear your ideas on this.

Phyllis Weiss Haserot    www.pdcounsel.com

 

 

A NEW CORPORATE TREND? TRANSITIONING CAREER FELLOWSHIPS

Marc Freedman, Founder and CEO, Civic Ventures / Encore Careers, announced that Encore Fellowships have been established as a retirement benefit by the first company to embrace the idea in a big way, Intel.

Encore Fellowships – paid, part-time, yearlong assignments at local nonprofits – provide a new source of experienced talent to organizations solving social problems, while offering those who have finished midlife careers the chance to transition to encore careers in the nonprofit sector. Intel has become the first company to offer Encore Fellowships to all of its retiring employees in the United States.

Intel retirees who become Encore Fellows will get a $25,000 stipend and six months of health insurance coverage, both paid by Intel. “Retirement benefits are no longer just about retiring,” said Freedman. “Instead retirement benefits can help cover the costs of transitioning to a new, encore stage of work for the greater good.”

Forbes columnist Kerry Hannon wrote, “The end of corporate retirement benefits is an old story. The rise of retirement benefits, well that’s worth some hoopla.”

Do you think we will see this idea blossom into a real trend?  Should people be seriously thinking about this when they hit 50 or 55?

Do you have a story to tell to www.encore.org?

Phyllis Weiss Haserot     www.pdcounsel.com 

 

BOOMERS PLAN ENCORE CAREER TRANSITIONS DESPITE TOUGH ECONOMY

According to a recent study, “Encore Career Choices: Purpose, Passion and a Paycheck in a Tough Economy,” Boomers have tempered their expectations, while at the same time retaining their unwillingness to give up on efforts to create a better world for succeeding generations. The survey was commissioned by Civic Ventures supported by the MetLife Foundation and conducted by Penn Schoen Berland. They surveyed Americans ages 44 to 70.

Here are a few key findings. To see more…

• The number of people in encore careers for the greater good is up, from 8.4 million in 2008 to 9 million in 2011.
• 40% of the 100 million Americans ages 44 to 70 are either in or interested in encore careers
• Half of the group surveyed says they are very concerned that the state of the economy makes this a difficult time to change careers. However, 25% of those interested in encore careers say they are likely to make the switch in the next 5 years.
• 73% of respondents are concerned that future generations of children will grow up to be worse off than people are now. And 70% say it is very important to them personally to leave the world a better place.

Do these findings resonate with you?

Would you be interested in joining a group to plan out your transition to your next career?

I can lead you to resources. 

Phyllis Weiss Haserot     www.pdcounsel.com