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    Entries in business (7)

    Monday
    Jun012015

    When liberal hipsters turn out to be ruthless capitalists too

    It seems to be a pretty widespread and more or less accepted assumption that the next generation of folks entering the workplace are more concerned with an organization's reputation for responsibility, for doing 'good', and for acting as a good community citizen than were prior generations. Where the boomers and Gen X were much more pragmatic (and possibly cynical), the Gen Y and Gen Z and the whatever comes next cohorts are going to evaluate organization's commitments and actions in the community and towards their customers and employees much more closely and critically when they make their decisions about where to work and (probably more importantly), where to spend. Like another nemesis of mine, 'Culture eats strategy for breakfast', (don't get me started...), this notion has been reported on and repeated so many times that I think it is worth considering if, you know, it actually isn't true, or at least isn't completely accurate.

    I started thinking about this when reading about of a new play titled World Factory being staged in London at the Young Vic theater. In the play, audience members participate in what is essentially a global business strategy game, placed into teams who have the job of navigating a fictional global clothing manufacturer through a complex set of scenarios and decisions. It is basically like the kind of gamified scenario exercise you'd see in any college business strategy class. But what has been happening at World Factory is kind of interesting.

    From a recent review of World Factory in the Guardian:

    The audience becomes the cast. Sixteen teams sit around factory desks playing out a carefully constructed game that requires you to run a clothing factory in China. How to deal with a troublemaker? How to dupe the buyers from ethical retail brands? What to do about the ever-present problem of clients that do not pay? Because the choices are binary they are rarely palatable.

    The classic problem presented by the game is one all managers face: short-term issues, usually involving cashflow, versus the long-term challenge of nurturing your workforce and your client base. Despite the fact that a public-address system was blaring out, in English and Chinese, that “your workforce is your vital asset” our assembled young professionals repeatedly had to be cajoled not to treat them like dirt.

    And because the theatre captures data on every choice by every team, for every performance, I know we were not alone. The aggregated flowchart reveals that every audience, on every night, veers towards money and away from ethics. But what shocked me – and has surprised the theatre – is the capacity of perfectly decent, liberal hipsters on London’s south bank to become ruthless capitalists when seated at the boardroom table.

    Fascinating, and possibly kind of revealing as well. It is certainly much, much easier to say that corporate ethics and community responsibility is important in making employment and consumer decisions. But, even in a fictional exercise like World Factory, it is often, (maybe always), much harder to live and take decisions that are 'responsible' when facing incredibly tough business, environmental, and social challenges. 

    Business if often messy. Capitalist systems often force tradeoffs to be made, ones that at least according to what we think we know about Gen Y and Gen Z are not in line with those generations world views. But once Gen Y and Gen Z are actually in charge? World Factory is just one small exercise, but what if it hints at what Boomers have known for a while - every generation follows pretty much the same trajectory as they mature, take on more responsibilities, and get more experience in how the world works.

    And then in about 10 or 15 years we will have moved on to a new set of young people who will be lamenting the materialistic robber barons formerly known as Gen Z.

    Have a great week!

    Wednesday
    Sep122012

    What do these 'Big Trends' mean for HR?

    I admit it, I am a total mark for Business Insider

    A superb mix of business, tech, culture, politics, economics, sports, celebrity gossip - all delivered with bludgeon-like ridiculous volume probably running upwards of 100 posts each day.

    Recently BI ran one of their guaranteed to generate a ton of page views slideshows that actually drove me to click through all (70!) distinct pages. Titled 'The US 20: Twenty Big Trends That Will Dominate America's Future', it was just the right blend of data, speculation, hype, and occasional insight that makes BI a go-to site. 

    The entire slideshow is worth a read click-through, but in case you are one of the 'I hate internet slideshow' types, I will spare you all the clicks and page loads and give you just 5 of the 20 Big Trends from the BI piece, the ones that might have the most direct impact to you as a HR, Talent, of HR Technology pro.

    Trend #2 - America is Aging - Key Statistic: The median working age in America is 42.1, up from 35.4 in 1986.

    This one is sort of a easy selection, I've blogged about it before here, but is bears repeating as the population ages the impacts on hiring, retention, work practices, learning, training, and just about everything else that happens at work will be impacted.

    Trend #5 - The Epic Rise of Student Loan Debt - Key Statistic: Student loan debt recently topped $1 Trillion, making it the largest category of consumer debt other than mortgages in the United States.

    Impact on the workplace? More younger workers stressed over their personal finances, more willingness to jump ship for a few more $$ somewhere else, and more likelihood of younger workers taking second jobs and taking work on the side.  

    Trend #13 - The U.S. Manufacturer Roars Back - Key Statistic, (really more of an observation), increased productivity combined with cheaper sources of domestic energy could continue to spur sustained growth in U.S. manufacturing.

    The State of manufacturing in America is constantly in flux, but we are starting to see more and more pieces about the return or renaissance of American manufacturing. A recent piece in Foreign Policy offers additional compelling reasons for the renewed strength in domestic manufacturing like robotics, artificial intelligence, and 3-D printing. No matter the root causes, if more organizations see benefits in re-shoring manufacturing, talent professionals will be under considerable pressure to find, attract, recruit, develop, and retain the kind of employees and leaders needed to make it happen.

    Trend #17 - American Cities as Economic Juggernauts - Key Statistic - Urban areas account for 84% of US GDP

    National growth will continue to be driven by cities, both large and medium-size. It makes sense that talent will chase after said growth and opportunity. If you are a talent pro in an organization not in or near one of these urban centers it could get even harder to lure the people you need from the areas or higher growth to your sleepy little town.

    Trend #18 - Immigrants Driving Product Innovation - Key Statistic - News Corp, (and others), investing heavily in new properties aimed at the growing Hispanic market

    If your organization is among the many that will seek growth and market share from an increasingly diverse set of customers then does your staffing, development, and leadership models adequately reflect the markets you are competing in? Do you have the right people that can understand and effectively service these markets?

    Ok, enough of these 'Big Trends', I think you get the idea. Organizations, and certainly the people inside organizations directly responsible for shaping their workforces, (that's you), have to be aware of the environment in which they operate. Economics, demographics, heck even politics - these things do matter, even if they seem kind of far off, or only the concerns of global mega-companies.

    What do you think, what are some of the big-picture trends impacting the work you do as an HR and Talent pro?

     

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