Next Generation Next Destination

THE GREAT GENERITIVITY DEBATE

 I want to call your attention to an interesting debate on the between Marc Freedman, founder of Civic Ventures, and David Brooks of The New York Times.

In a column published February 1, Brooks proposes reversing public policies that he says rob the young to serve the old and take from them funding, freedom and opportunity, saying, "It now seems clear that the only way the U.S. is going to avoid an economic crisis is if the oldsters take it upon themselves to arise and force change." He calls for a "generativity revolution" of millions of people demanding changes in health care spending and the retirement age to make life better for their grandchildren.

In a piece published today on The Huffington Post, Freedman says "the real generativity revolution is well under way. And with the help of smart new policies, this movement of forward-looking baby boomers might actually succeed." He writes, "It's increasingly clear that these older workers aren't competing with younger people; they are meeting demands for talent that will only grow as the economy recovers."

Freedman argues, "With 10,000 baby boomers turning 60 every day, it's time for public policies that honor their aspiration to leave the world a better place and harness their talent and energy for the long haul."

You can read David Brooks' column here:
http://www.nytimes.com/2010/02/02/opinion/02brooks.html
Marc Freedman's piece is here:
http://www.huffingtonpost.com/marc-freedman/generativity-revolution_b_447774.html

Comments from both points of view are welcome on Encore.org, as well as right here. Join the discussion  at http://www.encore.org/news/marc-freedman

What are your thoughts? How do we prevent generational resentments and warfare?

FORECAST: RE-HIRING IN RETIREMENT

n      The  counterpart to succession preparation as we experience an aging workplace is another forecast: Employers Will Accommodate Older Workers Like Never Before. Employers need to get the work done; many workers, including successful professionals and executives, want to keep going whether or not they really need the additional money to live comfortably. The Herman Group suggests that employers will see the benefit of avoiding recruiter fees and expensive contract help by bringing back their retired personnel on part-time, seasonal or temporary bases, even if the older workers can dictate their own terms. I can envision organizations hiring their former personnel with knowledge no one else would have to the same degree or dissuading them from going elsewhere for the typical “busy seasons” or employing them for training and coaching the next generation to continue top service to clients.

 

      This will require sensitivity in communication to younger workers about the benefits to them and facilitation of cross-generational dialogue within work teams and mentor partnerships. But it sounds like a win-win for many organizations seeking continuity  of client service and culture.

 

        Phyllis Weiss Haserot    www.pdcounsel.com

CROSS-GENERATIONAL ALUMNI-STUDENT PUBLIC INTEREST ACTION

Since I put together and facilitate *cross-generational conversation* groups, primarily focusing on the workplace, I am always interested to see initiatives that encourage multi-generational collaboration.

Twenty years ago, the Princeton class of 1955 started "Princeton Project 55." According to the web site, "Princeton Project 55 (PP55) is an independent nonprofit 501(c)(3) organization dedicated to providing opportunities for college alumni to improve our society. By bringing alumni together with students and recent graduates, Princeton Project 55 provides many opportunities for building the commitment, leadership, and mentoring needed to solve critical issues affecting the public interest."

"Princeton Project 55 believes that there is a vast untapped resource of energy and expertise among college alumni that is available for the public good. We accomplish our mission through a variety of approaches including matching recent graduates with year-long fellowships in public-service organizations, providing mentors and professional development; supporting alumni from other universities engaged in similar initiatives; and collaborating with on-campus programs to raise the profile of civic engagement among current undergraduates."

Spreading the model and enthusiasm, there are 40 colleges and universities for which the Princeton group has set the example. The name was chosen not just to recognize the class that started the initiative, but more significantly to signal the age they thought many people are able to commit to taking on civic activities.The organization has a board composed of four generations of alumni, including some very well known names. Of course it has a Facebook page.

Phyllis Weiss Haserot    www.pdcounsel.com

RECOVERY, RENEWAL, REINVENTION: ENCORE CAREERS

A blog post on Encore.org  proposes a win-win-win for the country and new administration using the "experience dividend" represented by 78 million Baby Boomers. The opinion piece proposes an "Encore Careers for Recovery and Renewal" plan that it says would save money, help the economy recover and tackle some of the most pressing U.S. problems.

The author, Civic Ventures Vice President David Bank, recommends putting Boomers to work for the greater good as a way to address their entitlement liabilities such as Social Security. His ideas include:

*  Simple regulatory reforms to remove outmoded obstacles and create low-cost, high impact incentives for "encore careers."

*   Modest investments in practical, effective projects that would deliver measurable results, e.g., reduction in high school drop-out rate, increases in global vaccination rates for childhood diseases.

*   Presidential leadership to "make the new stage of work so meaningful and rewarding that it becomes the new definition of success in the second half of life."

"NEXT DESTINATION" CAREERS - THE PURPOSE PRIZES

Civic Venturesand Encore.org have announced the winners of their annual Purpose Prizes, with a substantial monetary reward. You can read the fascinating stories of the winners and fellows at http://www.purposeprize.org/index.cfm.

If you are looking for a new career life and legacy for after your current or major career, you are likely to get inspiration reading the stories and looking around the site.

They are  already looking for next year's winners. Nominate someone - or yourself - here: http://www.purposeprize.org/nominate/nomination_begin.cfm.

ADD TO TRANSITIONING PLANNING: ALUMNI NETWORKS

Long before the day comes to retire from your current organization, the transitioning planning should begin - ideally 5 to 10 years in advance. An important ingredient, whether one is planning to "retire" in the traditional sense or go on to another career, job or personal pursuit, is joining and increasingly active involvement in alumni networks

These networks may be comprised of alumni from an employer organization or from an educational institution. Many business now have alumni groups for personnel of all ages who have left for various reasons: other opportunities, to join a client, career change, relocation move, retirement, etc. These alumni groups may have periodic meetings or social events, a directory , an online social network and other means to facilitate connections and stay in touch with each other and the organization. Some companies employ (sometimes for a stipend) their alumni for mentoring, training and coaching for young employees. There may be opportunities for consulting or part-time assignments.

College and graduate school alumni networks also are valuable for maintaining connections, not only to give back to an alma mater, but also for business connections. They can also facilitate business connections with younger alums who may be starting businesses and need the maturity, judgment and expertise of seasoned professionals and executives. Or they may be willing to reverse mentor and keep older workers current with new technologies and practices.

Remember - The best way to get value when you need it from networks is to build relationships before you need them. So plan ahead for later transitions through earlier involvement and relationship-building.

Phyllis Weiss Haserot     www.pdcounsel.com

ENTREPRENEURIAL ITCH FUELS TRANSITION

Embedded in the first wave of Baby Boomers reinventing retirement are those turning their hobbies into small businesses. Some of these new entrepreneurs had been making hefty salaries but want to run their own show, reports Brent Bowers in "Early Retirees in New Ventures Mostly for Fun" (New York Times July 3, 2008). This may require a change in lifestyle, but they aren't complaining. And if a lot of capital isn't required initially, they can start up with little risk.

Boomers are finding a new kind of career satisfaction from artistic ventures. They start the business to have fun but feel validated when someone purchases what they make.

Increasingly, Boomers looking toward retirement from their main career who don't know what they want to do but know they want to or have to do something, are seeking out coaches. Coaches and career counselors have noticed more people looking for an improved quality of life, more balance and an expression of who they are. They are thinking about their legacy. A former bank loan officer with a PhD in Denver explained,"I'm at a period where I'm no longer motivated by money. I'm looking for something with more substance and meaning." He sought the advice of a coach and is now exploring ideas he never thought of previously.

Phyllis Weiss Haserot      www.pdcounsel.com

AUTHENTIC LEADERSHIP, SUCCESSION PLANNING & TRANSITIONING

In his new book "True North" (Jossey-Bass), Bill George discusses the results of 125 interviews with leaders aged 23 to 93 leading to his principles of an "authentic" approach to leadership. George is former CEO of Medtronic Inc., now teaching management at the Harvard Business School and serving as a director of Goldman Sachs Group, Exxon Mobil Corp and Novartis AG. His principles for becoming an authentic leader are:

*   Empower subordinates, but hold them accountable.

*   Seek feedback from mentors

*   Being good at something doesn't mean you love it; seek to satisfy your motives and your skills.

*   Remember that employees want meaning and significance, not just money.

*   Stay true to your values, even under significant pressure.

In an interview in the Wall Street Journal (December 3, 2007), George said about balancing the desire to empower subordinates with the demand for immediate business results: "We've got to get back to giving people opportunities at very young ages to step up and lead without risking the firm... People have to learn early. Then when you get to higher-level positions you don't repeat those kinds of mistakes."

He quotes Jeff Imelt, CEO of General Electric: "Leadership is a long journey into your own soul." This means there's a time to get feedback, and then you've got to pull back and say, "What am I made of?"

With the need to have young partners and executives prepare for succession and Generation Y/Millennials impatient to move into significant roles, George's principles and encouragement to empower subordinates to lead are well taken.

George said the greatest learning from the interviews was that leadership was not about traits and characteristics but rather that people found the passion to lead from their experiences.

Phyllis Weiss Haserot     www.pdcounsel.com 

PRE-RETIREMENT "LEGACY-LISTS"

Judging from some best-selling books and the practices of some coaches, "life-lists," as in "things I want to accomplish before I die," are hot.

Some people are making lists of a hundred or more goals and experiences they aim to check off. You can imagine this is appealing to achievement-oriented Baby Boomers. Interestingly, Generation X is strongly attracted to the life-list phenomenon as they seek to avoid the stressed lives Baby Boomers have tolerated in their pursuit of high-paying occupations. People are questioning the typical life cycle progression and trade-offs it requires. A Gen Xer, Justin Zackham age 36, wrote the screenplay for "The Bucket List" about pre-Boomer cancer patients on a life-list adventure (starring Jack Nicholson and Morgan Freeman).

At whatever age, the life-list is a tool for taking stock. I suggest two categories of lists for both Boomers and the next generation moving toward taking the Boomers' places in their organizations. Here's a plan of attack.

LIVING YOUR LEGACY

A post on living your personal mission statement by Mike St. Pierre, who has a productivity blog focused on work/life balance, got me thinking about "legacy" again. This post appeared on www.employeeevolution.com  (June 28, 2007).

I know there is some skepticism about the usefulness of corporate mission statements because so many of them sound like many others and may be too verbose and unwieldy to provide inspiration or a clear picture that drives behavior. But a personal mission statement only has to be clearly meaningful to one person - the author of it, who intends it as a framework for informing personal choices and behaviors.

That's where I make the connection to legacy. Each of us should be thinking about how and for what we want to be remembered in our work, our relationships and our contributions to profession, community and favorite causes.  As time goes on, this concept of legacy usually becomes more urgent, though some people start their intentional legacy efforts early on. In thinking about legacy, creating a personal mission statement, and then living that mission, can go a long way to shaping a legacy you can be proud of and that is truly fulfilling.

St. Pierre's post sets out the steps for creating and living the mission statement.  He says "Mission statements work as long as they are created with thoughtfulness and simplicity. Following through by daily recitation and evaluation then makes your statement concrete and gives it the space to guide you to higher levels of success."

The "legacy bucket" is one of the 5 buckets that are the underpinning of our *Next Generation, Next Destination* partner transitioning planning services. It is about meaningful contribution, fulfillment, and making a difference - things that are very important to the fully realized professional.

Phyllis Weiss Haserot     www.pdcounsel.com