Summer 2017 Newsletter Vol. 20, No. 2
Current Perspective -The Business Economy
2017 has been a busy year for us as the pace of change continues to accelerate. It is always easy to look backward to set the stage for where we are today. For the 3 months preceding the National elections, many companies appeared to have gone into a “pause” mode. In another words, a wait and see until after the election. To some extent, things were deafeningly quiet. Once the elections and the Holidays were over, January forward has seen business change accelerate significantly.
While many companies are not necessarily predicting substantial business increases, they are predicting change. With the unfolding of the agenda of the current administration we see noteworthy time being spent on reviewing and adjusting organization strategic and tactical plans. We see changes in industry forecasts and shifting of priorities for business economics for the rest of this decade. Change has accelerated even though it was at a rapid rate before.
Is this positive or negative change? I wish there were an answer to this. It is all about perspective. Let me focus on a few areas we are assisting businesses with over the summer and immediate future.
1= Managed Search- With the financial markets at an all-time high, retirements are at an even higher rate than last year in our area.
With this happening, an increase in the demand for organizational reviews of teams and new leadership searches are accelerated.
2= Evaluating future revenue streams may require a review of current talent and market capabilities. We are assisting firms looking to see if they have the right talent in the right positions.
3= Adjusting business models to accommodate changed revenue streams. While technology is advancing it definitely is changing the way revenue is derived. Different approaches are being added to traditional business models, causing shifts in staffing and talent and marketing.
4= We now have 5 generations in the work place. The newest are the Information Generation also called I-Gens or Gen Z. This group is just emerging, but is more traditional to the Generation X who are typically their parents. The Millennials continue to be difficult to assimilate but will be making up almost 50% of the work force by 2020 as 10,000 people retire daily over the next few years!
These and other changes brought on by a better economy are moving us all forward at a pace that is difficult to comprehend in real time. See you all in the future of tomorrow!
The Four Pillars of Employable Talent and Building Block Essentials
A few months back it became evident that both of my books would need extensive rewrites to remain a viable tool for Leadership. It has been 6 plus years since the first edition and now both are in progress for the 4th editions. Looking forward to releasing them in September/October there are some significant areas of change.
In The Four Pillars we have added significantly to what was the introduction to The I-Generation or Generation Z (I-Gen/GenZ). We have all experienced the multiple issues in integrating millennials into the work place. Some companies have been successful while many have not. Today, more than any other generation, there are still 20% plus structurally unemployed. Unfortunately this will probably not change dramatically. The I-Gens are just starting to enter the work place and show signs of being more aligned to business operations and career pathing. We also see that there are still 5%-7% of the Seniors (now over 71 years old) still active in the work place in many capacities. Think Warren Buffet and many others. A dynamic mix of TechNots to Fully Native Tech savvy participants continue in the workforce. All present some interesting and new challenges to leadership.
Building Block Essentials has also under gone a major rewrite. With technology evolving recruitment we now have 3 distinct resume formats in our 4th edition. A= Entry level position B= Technical Professional and C= Leadership level resume. With many resumes being screened electronically and either rejected or accepted for review by a HR screener or recruiter, it is important to utilize the right resume approach to even be considered for a position. The “game” continues to evolve and we want to assist all who are applying for their next career challenge.
Each year honoring my commitment to “Life Long Learning”, I participate in a development activity. This year it will be a group of Human Resources senior leaders heading to Japan for a week of business and educational experiences. This group will include some of the same senior leaders that I traveled with to Cuba, India and China over the last few years. Last year the group did not travel and I participated with a colleague in a Harvard Executive Strategic program in Mumbai. Following are some highlights of the program for this November 10-19, 2017 trip.
“Journey Mission: The primary objective for this trip is to learn how employers, government organizations and universities are preparing incoming workers into the economy. We will also focus on how employers are dealing with current (and planning for future) demographic shifts within the national workforce; understand how the Japanese government plans for the future of the workforce and how it is assisting employers; and understand how global economic developments impact national workforce planning.”
“Enjoy the unique culture and traditions of Japan while you spend time with the locals. This adventure includes a very special homestay in rural Japan!”
Japan | www.nandajourneys.com
In September of this year, we will begin our 26th year of business at Miles LeHane. Melanie and I along with Scott have much to be thankful for. Having successfully completed two 25 year careers exceeds the goals I anticipated. The energy level is still extremely high and the learning challenges have been even greater than expected. There is no opportunity to become bored or disengaged. It is this that keeps us moving forward living our mission of “Inspirational Transformation” for individuals and organizations. Thank you for all you have contributed to our journey.