Alexandra Levit's Water Cooler Wisdom

Career Durability: Ensure You Have a Job As Long As You Want One

You might remember that last fall, I helped DeVry University with a survey about workplace sentiment during the COVID-19 pandemic. At a time when employees should be feeling recognized and celebrated, nearly one in four employed Americans said they believed that American workers are not valued. And, more than a third of survey respondents claimed that based on their employer’s actions since the start of the pandemic, they feel disposable.

Were these feelings valid? Could employers actually take or leave employees, not caring if they were successful or unsuccessful, contributing or not contributing, employed with the company or leaving to go somewhere else?

The workforce is changing in major ways. The pandemic sped up a movement from strict scheduling to flexible “work on your own time” engagements. Prior to COVID-19, we were already seeing smart machines and automation as part of daily work, and the tremendous growth of the gig economy.

Taken together, these trends show that the old ways of sustaining a career no longer work. In past decades, you could go to college or a trade school, get a degree, and use the skills associated with that degree to work for one – or maybe a few – organizations over the course of your working life.

That is no longer the case. Jobs – and the skills required for those jobs – are changing rapidly.

In these times, nothing is certain except change, and this is unnerving. In fact, Ceridian’s 2021 Pulse of Talent report, which surveyed more than 5,000 people across five regions, found that 66% of individuals are taking job security into account more now than before the pandemic.

Career durability is a ticket to long-term security

To avoid feeling – and indeed being – disposable, today’s employees need to be the leaders of their own careers. They must build what we call career durability.

Career durability involves acquiring the skills, mindset, and knowledge to be an engaged and productive member of the workforce – continuously. On LinkedIn, I explained career durability as including these five areas:

• Hard skills: skills that allow you to complete tasks in a specific job.
• Soft skills: skills for collaborating effectively with others.
• Applied technology skills: skills that allow you to leverage available technology to do your job better.
• Institutional knowledge: job or industry expertise gained through experience.
• Growth mindset: being willing to improve, learn, and reconsider existing ways of doing things.

For more where this came from, read the full article at the Ceridian Dayforce Wallet blog.

Is It Time for Your Business to Transition to a New Leader?

According to PwC’s Family Business Survey, 62 percent of family business owners expect to pass the baton to the next generation. But many businesses lose their way when making the transition from startup to a more structured, complex organization.

Despite solid intentions, only one-third of family businesses are expected to last beyond the founders’ generation while even less—an estimated 12 percent—will make it through the second generation to a third.

A confluence of factors make succession planning more urgent. The enormous baby boomer generation will retire en masse by the end of this decade. But according to the PwC research, over half of family businesses are unprepared for the transition to the next generation.  

Prior to this year, many companies’ succession plans were likely informal. Even if junior family members wanted to be involved in the business, PwC found that about half weren’t trained to take on senior roles, which include responsibilities such as executive decision-making and long-term planning. However, the pandemic has forced many organizations to acknowledge the vulnerability of their senior owners and to take steps to adapt to this disruption as well as whatever comes next.

Senior owners and their presumptive junior successors may look at the prospect of a leadership shift differently depending on their individual situations and aspirations.  

Senior Leaders Feel the Time Is Right

Given the amount of pivoting that's required of business owners as a result of this year's disruptions, some tenured leaders are considering handing the reins to younger family members who are better equipped to try new innovations, riskier technology and practices and fresh marketing approaches.

For Konrad Goess-Saurau, the founder of car equipment manufacturer AutoBead, timing was everything.

“When we moved our family from Austria to England and opened for business in a new country, I recognized the importance of brand awareness,” Goess-Saurau says.  

“I don’t fully understand today’s digital channels, but my son Markus does," he continues. "For example, he implemented automated marketing and data analysis that allows us to anticipate a customer’s next purchase and prompt them with relevant communication. I thought, why fight it? Let’s hand the business to the person with the best chance of success.”

The pandemic led Sophie Bowman and her business partner Jackie Nepola, to think more intently about the future of their PR firm Brand Branding.

“We always planned to have a next-gen division, but we fast tracked launching it when the pandemic hit. We have delegated graphic design and content creation to my partner’s teen daughters,” Bowman says.

“Not only can the teens close deals because they relate to consumers that brands struggle to reach," she says, "but this approach also gives younger family members a career at a time when there’s no guaranteed job security in someone else’s company.”

Timing also played a role in the leadership transition of the architectural firm Metzger Mandl from father to son.

“My partner died of pancreatic cancer at age 52. David ran the business, while I brought in the work and led the design responsibilities of the firm,” explains founder Marvin Metzger. 

“While I struggled to keep everything going, my son Eli got his architecture license and was honing his craft with other respected firms," he says. "He took over running the practice in a way that kept up our level of excellence in the area of multifamily housing in New York City.”

For the rest of the piece, head over to the AMEX Business site.

Managing Your Data in the New Normal

Amid social distancing, stringent lockdowns and a second surge of COVID-19 cases, business owners can no longer rely on splashy launch events, mom-and-pop friendliness or a dynamite location to build customer relationships. Today, every business is competing for eyeballs and purchases made on digital channels.

Data-based approaches can help you stand out more effectively.

To successfully stand out, you’ll need to understand data optimization basics, including gathering customer information, responding to real-time feedback and reducing inefficiencies that lose revenue and diminish trust.

Gathering Customer Information

Data optimization commonly refers to collecting all the information at your disposal and maximizing the speed and comprehensiveness with which business-critical information can be extracted and analyzed.

If you have a website, this could be the most sensible place to start data collection. You likely have a handle on how many people are visiting and what pages they’re viewing, but are you using an analytics tool to assess where they are coming from, the content they spend the most time reading, and which page prompts them to leave? Do you know where your most active visitors live, how old they are and what products or services they most frequently purchase? These questions form the foundation of your business, and therefore are critical to your data-optimization efforts.

Feedback forms or emails are essential, but in today’s climate you’ll likely want to be more proactive about seeking out qualitative information about how customers value your offerings and their experience with your organization.

You don’t have to invest in a pricey or unwieldy customer survey to do this. Instead, try pushing a few questions to targeted visitors based on the defining characteristics above. You can also use analytics features embedded in the big four social media platforms (Facebook, Instagram, LinkedIn and Twitter) to ascertain what people are saying and the general sentiment around your brand.

If your customer relationships are rich with engagement points, CRM software can be a wise investment. These tools help monitor your interaction with current and potential customers, leverage data analytics to track customer history and details and suggest data-driven strategies to grow relationships.

For more where this came from, check out the full article at AMEX Business.

When You're Looking for a Job and All You Hear is Crickets

A reader from CollegeRecruiter asked the following question:

Graduation is fast approaching and I’m stressing out as I don’t have a job yet. My career service office is focused on jobs from local employers and so isn’t of much help as I attend an out-of-state school and want to move home after graduation to be close to friends and family. I’ve applied to dozens of jobs but after weeks I’ve heard back from only a few and those were automated responses confirming my applications. No interviews. No emails from recruiters. No job offers. Help! I love my parents, but I don’t want to share a room with my little sister again.

Keep in mind that most job openings aren’t advertised because a lot of businesses prefer to hire from within the company or through word of mouth. If you’re coming in from off the street, you could be out of luck.  Instead of working harder, work smarter. Use online resources and business trade publications, such as The Wall Street Journal, Forbes, and Fast Company to target desirable companies in your home area. Then, prepare to infiltrate these companies by making the transition from outsider to insider. Here’s how:

• Get to know individuals already employed at your target company who are in a position to hire you. 
• Apply for an internship position that will land you inside the company and provide you with an opportunity to build your skill portfolio.
• Secure referrals from anyone you know in your chosen field—either people with years of experience behind them, such as old professors and your parents’ friends, or recent graduates who will have sympathy for your plight and might also be more familiar with a company’s lower-level job openings.

Using a combination of these approaches, you are much more likely to gain access to unadvertised job openings in the companies you desire. However, it probably won’t happen overnight. Be persistent and don’t resort to laziness, even if you’re not seeing immediate results. Keep your expectations realistic and remind yourself of the end goal every day. Above all, don’t doubt your own abilities. Ignore all of the folks who tell you that the market sucks and that you should take any available job, even if it’s not what you want or need. Learn to take rejection with a grain of salt—it’s all part of the process. If you take the right action patiently and efficiently, an opportunity will come along that’s a good fit for your skillset.

For answers from other workplace experts, check out the full article on CollegeRecruiter.

How to Prepare for Leadership Disruption

As a futurist and the host of the Workforce 2030 podcast, I’m frequently asked the most important trait leaders need to develop to effectively govern 21^st century workforces. The answer is easy: agility. The business world’s only certainty is that the environment WILL change quickly, and the fastest way to organizational obscurity and failure is to deny that major disruptions are bound to occur and that regular strategy pivots will be essential.  These questions will help leaders navigate a climate in which an approach that worked yesterday is unlikely to work the same way tomorrow.

Is My Organization Agile Enough to Shift Direction Rapidly?

Many companies are bureaucratic and unwieldy, where one must wade through layers of hierarchy before receiving the green light to change a process. As we move toward 2030, the pace of change will demand real-time monitoring of markets and customer demands, as well as infrastructures and mechanisms to drive immediate action when an approved strategy no longer serves.

Have I Customized My Management Style?

We have moved from a workforce of many to a workforce of one. Today’s employees are more diverse than ever. They have different work arrangements, personal priorities, and career aspirations. Leaders must tailor their styles to the individual rather than insisting on a one-size-fits-all approach, and they must be willing to diligently supervise multi-generational, virtual, remote, and contract teams as well as traditional full-time, onsite ones.

For the rest of the article, check out the SilkRoad blog.

Guiding Your Team Through Evolving Work Structures

Whether you’ve been with the same organization or moved around, if you’ve been a manager for a while, you have probably experienced a lot of changes regarding how, where, and when people work. The boundaries for what’s acceptable and what isn’t have shifted dramatically over the last 10 years, and many agree that the waters are growing even murkier.

As we approach 2020, every organization is different with respect to policies on flexwork, technology-facilitated collaboration, virtual teaming, contract hiring, meetings scheduling and logistics, and the like. And because the dos and don’ts frequently evolve, your responsibility as a leader is to ensure that protocol is clear and that your employees can function happily and productively in the context of new structures. Here are a few suggestions for a successful transition.

Understand what the rest of your organization is doing

Before you provide guidance to your team, talk to HR or c-suite leaders about any top-down work structure-related policies, procedures, and resources that already exist and can be tweaked or updated to meet your team’s needs. If another leader is blazing an innovation trail, learn from their experience and aim to take workable arrangements to the next level.

Understand each individual’s unique needs

We now operate in a workforce of one, where every employee governs their career differently. Prior to revising a structure or process (or starting a new one), survey your team members about the most effective ways to get their jobs done with maximum impact and minimum stress, and notice commonalities in the feedback.

Choose pilot over permanent

Complete transitions to new structures gradually and on a small scale. For instance, if you want to move your team from 100 percent in-office to 80 percent, with the option of working from home or another location the remaining 20 percent, start with a three-month trial. Outline rules and expectations upfront and select a metric like productivity to ascertain how well the new protocol is working.

Educate your people on politics

If you’re reading this piece, your team may be on the cutting-edge of 21st century work. This means that your employees could run into snafus with other departments that operate differently. Think through potential complications early, manage perceptions, and ensure that your team can address objections from and continue to build trust with more traditional areas of the business. In other words, don’t let other leaders think your people are lazy or off the grid.

Encourage frequent communication

Any change process must be accompanied by more discussion than you think you need. Schedule group and individual check-ins at least twice a month so that your transition is smooth and hiccup-free as possible, protocols are consistently implemented from one team member to another, employees have an opportunity to provide feedback, and business is running as usual.  

In a business world where every employee’s journey is different, facilitating effective transitions is just as critical to engaging and retaining top talent as more traditional lifecycle focuses like onboarding and performance. Join sponsor SilkRoad and me for a webinar on August 29, 2019 at 2PM EST and come with questions!

 

Humanity Works Book Tour: Glimpses of the Future

One of the highlights of the last year was my #humanityworks tour in the UK, from which these six videos resulted. Check them out for short and sweet advice on what's to come in the workforce of 2030 and beyond.

Episode 1: Don't Worry about AI Stealing Your Job, Worry about Your Lack of Skills

Episode 2: Why You Should Develop Your Interpersonal Sensitivity Skills

Episode 3: Technology Will Create New Jobs

Episode 4: Will Technology Develop Consciousness?

Episode 5: Workplace Agility: The Crucial Skill for Your Career

Episode 6: 3 Important Technologies for HR and L&D

 

Workforce 2030 Podcast is on a Roll Thanks to Partner SilkRoad!

The Workforce 2030 podcast sponsored by SilkRoad is off and running, with several episodes now online. Please check these out and let us know what you think!

Episode 1: Disruption in the Changing Workforce

In this episode of Workforce 2030, Robert Dvorak, Chief Executive Officer and President of SilkRoad, joins Alexandra Levit to discuss disruptive changes affecting the workforce, today and in the future, as well as the importance of agility and continuous learning in this time of change. Dvorak brings more than 30 years of experience in executive leadership positions in strategic sales and marketing.

Episode 2: Mergers & Acquisitions and its effect on the Workforce

In this episode of Workforce 2030, Jennifer Fondrevay, Founder and Chief Humanity Officer of Day1 Ready™, joins Alexandra Levit to explore Mergers & Acquisitions and its effect on the Workforce. Jennifer works with forward-thinking business leaders, owners and executives to pre-plan their people strategy through the phases of M&A so their employees can contribute from Day 1.

Episode 3: How, When, and Where to Apply Automation in the Workplace

In this episode of Workforce 2030, Ravin Jesuthasan, Managing Director and Global Practice Leader at Willis Towers Watson, joins Alexandra Levit to discuss applying automation and AI to jobs and how organizations can optimize human-automation combinations. Ravin is a global thought leader on the future of work, automation and human capital. He has been recognized as one of the top 25 most influential consultants in the world by Consulting Magazine, one of the top 8 future of work influencers by Tech News and one of the top 100 HR influencers by HR Executive.

Episode 4: Agility and Adapting to Change: How to Future-Proof Your Career

In this episode of Workforce 2030, Marti Konstant, best-selling author of Activate Your Agile Career, joins Alexandra Levit to discuss agility and how to future-proof and take control of your career by adapting and responding to change. Marti has an MBA from the University of Chicago Booth School of Business and is a former technology executive who has worked in Silicon Valley. She now works as a workplace futurist, keynote speaker, top-career influencer, best-selling author and expert in applying agile principles to workforce development.

The Real Story Behind Stretch Assignments

Stretch opportunities are all the rage in the workplace. But as popular as they are, it’s unclear why some people decide to accept a stretch assignment or role – and others step aside. It’s also unclear why women haven’t benefited from stretches as much as men.

Selena Rezvani is Be Leaderly’s VP of consulting and research and a recognized speaker on women and leadership. She recently led Be Leaderly’s original research on how both genders decide if they are ready for a stretch, and how they make that decision. The report also explores how employers can create a workplace that supports employees who step out of their comfort zones. Based on a survey of 1,549 U.S.- based professionals, the research uncovered the following:

• Men (48%) and women (52%) are equally interested in ultimately advancing into senior vice president or C-suite roles.
• However, the largest portion of women (45%) don’t feel their employers make it easy to gauge if they are ready for a promotion, while the largest portion of men (40%) think their employers help them know whether they are prepared to advance.
• Women are less engaged in and passionate (67%) about their jobs than men (77%), another possible explanation for why fewer women take on stretch opportunities. A strong correlation exists between employees who feel engaged and passionate about their work and those who perceive that their employer makes it easy to assess their readiness to advance.
• In order to apply for a job, both women and men feel that they need to meet, on average, 75% of the qualifications for the role – a surprising difference from accepted thinking about gender attitudes toward the qualifications people feel they need to try for a new position.
• Women may hold back from taking stretches because when assessing how ready they are for a new job, they are less likely than men to overestimate or “round up” their skills, and more likely to underestimate or “round down” what they know or can do. (73% of women disagree that they round up their skills while 60% of men disagree).
• For both men and women, the top criteria for deciding whether to take a stretch assignment are having the influence to create a positive outcome (40% women/43% men), and getting an assignment that lines up with their career goals (33% women/33% men). Both genders say office politics is the biggest practical challenge to taking a stretch assignment (38% women/33% men), with lack of time a close second (34% women, 31% men).
• Money matters. Men are 3.5 times more likely than women to cite pay as an important factor in evaluating the appeal of a new assignment, job or level.

So what do we make of this? Well, if the workplace is being disrupted by sweeping, large-scale trends, employees must have the opportunity to continually redefine and hone their skills. One way employers can offer that is through stretch assignments that provide intrapreneurial short-term “gig economy” type work with minimal risk and disruption, all within the organization’s dominion. Employees, especially millennials, want to “job-craft” their roles. Offering an internal gig economy – or stretch marketplace – delivers big.

Strategies for Excelling at Product Development

Product development is one of the most challenging aspects of running a business, because it’s a rare situation in which your offering is already so perfect you don’t need to improve or evolve with the market. You can vastly save a great deal of time and stress in your efforts to create new products and services, or expand on or enhance your existing ones, with five specific strategies.

Put Yourself in Your Customers’ Shoes

Product development is most successful when it is directly connected to an unmet customer need. “If you can create a smooth, flawless experience with no interference or frustrations, it’s likely that people will enjoy using your product. Solve a problem and make lives easier,” said Ali Mahvan, CEO of social shopping company Sharebert. “You're not starting a company to build a product for yourself. You're starting a company to build a product for your customers. Customer feedback has driven every major design and experience decision throughout the building of the Sharebert app and is our number one metric for design.”

 Iron Out a Process

Torrey Tayenaka, CEO of video production company Sparkhouse, wanted to create animated explainer videos to market customers’ businesses, products, and services. Explainer videos are useful because you can produce them without actors and cameras, and while a product is still in the concepting stage. However, the idea is a relatively new one, so Tayenaka needed to build a process that could be easily understood and followed by his team and customers alike. “We took our time in developing a 12-step animation process that we always strive to communicate clearly,” he said.

Take the Airplane Window View

To excel at product development, you must be willing to take a step back and look around you even as you have the urge to charge forward. “We are constantly looking at the big picture, asking ourselves: do we know what we are creating, who we are creating it for and why we are creating it?” said Tayenaka. “If we understand those key points, we can always make sure the ship is headed in the right direction. But on the other hand, if we get too excited about features and specifics, we can lose sight of what’s really important.”

For more where this came from, check out the full piece at the AMEX OpenForum.