Welcome
Welcome to the
latest issue of Bringing Work to Life.
We explored
the following topics in the past twelve issues (all newsletters are
available at
www.elsdon.com/newsletters.htm):
o
Career windows (Second Quarter 2009)
o
Handling upheaval (First Quarter 2009)
o
Career transformation (Fourth Quarter 2008)
o
Career interdependence (Third Quarter 2008)
o
Demystifying workforce metrics (Second Quarter 2008)
o
Transforming a Human Resources (HR) career (First Quarter 2008)
o
Stewardship and governance (November/December 2007)
o
Finding the peaks (September/October 2007)
o
Career plateaus – what to do about them (July/August 2007)
o
Workforce planning (May/June 2007)
o
Assessing your organization (March/April 2007)
o
Individual change (January/February 2007)
In this issue
we address “Portfolio Careers.”
Portfolio Careers
“Economists say that when the economy takes a dive, it is common for
people to turn to their inner entrepreneur…” (New York Times, March 14,
2009). Changing internal aspirations can also drive that inner
entrepreneur. For example, the following figure shows what career
success meant recently to a group of (predominantly) chemical
engineers. The eight values shown are consistent with those identified
by Edgar Schein in the Career Anchors assessment.
The values of integrating work and personal needs, challenge, becoming a
recognized expert, service and independence trump becoming a senior
manager, security and money. UCLA Anderson School MBA alumni responded
similarly to the same question. Here too becoming a senior manger and
money were least important, while integrating work and personal needs,
and independence were most important. Such dominant values speak to a
career path that honors individual choice and personal career decisions,
such as in a portfolio career, rather than a career path based on
ascending an organizational hierarchy.
In the July/August 2006 issue of Bringing Work to Life we reviewed
risk/return profiles for various forms of work engagement ranging from a
traditional position within an organization to a portfolio career. We
suggested that now a portfolio career frequently offers greater reward
and lower risk than a traditional position. While it will not fit
everyone, it is a career option that can have much appeal. This can be
at an early career stage when establishing a foundation for growth, or
at mid or later career stages building on accumulated knowledge and
expertise.
Let’s examine what a portfolio career is all about and why this can be
so. A portfolio career can include various types of work engagement
that provide multiple income streams. It is an opportunity to craft a
path that is fulfilling, rewarding and sufficiently flexible to
accommodate external change. Here’s an example of components that are
part of a portfolio career from my own experience:
The several interconnected threads, the outer circles of the diagram,
all speak to the relationship of individuals to organizations and
communities. They include working with individuals, supporting
organizations on workforce related topics, teaching, and writing, all
connected by a support infrastructure.
We already have portfolio careers over time, now we are shifting the
perspective from a portfolio over time to a portfolio at a point in
time. What are some of the benefits? A 2003 survey by the Independent
Direction Directors Advisory service in the U.K., of people engaged in
portfolio careers, points to the following benefits:
And the following challenges:
The benefits speak to issues of being able to set direction and control
the context for work, values that were significant to the groups
mentioned earlier. Challenges revolve around engaging in a form of work
relationship that is unfamiliar and requires navigating new territory.
This brings us to the question, what does it take to craft a portfolio
career? Here are some important factors to consider (drawn in part from
the chapter: How Can You Grow Your Practice with Purpose from the book
Starting and Growing a Business in the New Economy, NCDA, 2007):
·
Whether to connect
the pieces together or not
o
Connectedness brings
the ability to transfer learning from one part of the portfolio to
another, for example from individual career counseling to organizational
development. It also provides infrastructure economies, marketing
clarity and allows for a focus on areas of personal interest. One
possible disadvantage is that it may limit the range of options that can
be included in the portfolio.
·
Finding
differentiation
o
In today’s work
world small organizations have ready access to state-of-the-art
analytical and communication tools. The resulting flexibility and
responsiveness can be important differentiators, particularly when built
on a content base that is personally exciting and meaningful.
·
Balancing the
portfolio
o
Balance includes
intentionally selecting a range of portfolio opportunities that vary in
size and length of time to secure. For example a single, small scale
engagement with an individual client can occur rapidly and likely
involves a small financial commitment. A larger scale organizational
engagement, over a longer time, generally involves greater financial
commitment and longer preparation time, perhaps also involving an
extended delivery team.
·
Pace of entry
o
Pace of entry
addresses whether to gradually build the portfolio while maintaining
more traditional employment, or taking a single, immediate step. Where
the portfolio is built on existing expertise, gradual development may be
preferable. This can permit integration with traditional employment for
a period of time and provide financial support during ramp up. If the
portfolio represents a major departure, or a significant capital
expenditure, full, immediate engagement may be preferable.
·
Building needed
skills
o
Needed skills will
likely include a blend of content knowledge and consulting capability to
deliver products or services meeting customer needs; sales, marketing
and business skills to reach prospective customers and ensure viability;
personal attributes to relate well and communicate effectively with
others; time management skills to balance service or operational needs
with those of marketing and sales.; and administrative skills to create
needed infrastructure, such as payroll administration and financial
tracking capability.
·
Forming partnerships
o
Partnerships offer
the opportunity to collaborate for mutual benefit. They are built on
clarity about the rationale for partnering and can include relationships
with contract providers offering supporting or complementary services,
products, or customer linkages.
Successfully
crafting a path forward means being clear about purpose. I recall a
colleague, who is active in the franchising area, once saying, “There
are two types of people who start businesses – those who do it to make
money and don’t care if it’s a hamburger stand or a real estate venture,
and those who do it for a purpose. I want the first group.” This
article is oriented more to those in the second group, where purpose
precedes, but does not exclude, the financial aspect. In this second
group, wonderful transformations can occur when people connect with
their work on a deep level. Purpose means being clear about the
interplay of fulfillment, financial reward, risk mitigation, giving back
and creating a legacy.
For example in our
practices, our purpose is to enhance individual fulfillment and
organizational and community prosperity by strengthening the
relationship of individuals to organizations. This infuses all of our
work. We develop and describe the concept of affiliation as a
foundation in the relationship between individuals and organizations
built on a two-way partnership. We incorporate the concept of
inclusion, whether internal, external, community or global, into our
descriptions of healthy organizations and in the variety of individual
clients we serve. Purpose guides the choices we make about which
opportunities to pursue, and therefore it guides our development.
In approaching a
portfolio career here are some suggestion to consider from the
Independent Direction Directors advisory study:
4
Plan well in advance
4
Speak to friends and colleagues who have made the move
4
Become educated about the market
4
Invest in support
4
Inventory strengths and weaknesses
4
Spread a broad net including volunteering
4
Plan financially for possible income gaps
Having established
a basis for considering a portfolio career, here are some questions to
reflect on:
4
What benefits might a portfolio career offer?
4
Who can share in the benefits of a portfolio career?
4
What barriers might be limiting and how can they be overcome?
4
What components should be included in the portfolio?
4
What types of customer would fit well?
4
What skills are needed to be effective?
4
Who would need to be on board and how could this support be secured?
This might
seem daunting, and I do wonder sometimes how it all comes together. But
it does. These words from Kafka perhaps capture it best: “Just become
still, quiet, and solitary, and the world will freely offer itself to
you to be unmasked. It has no choice; it will roll in ecstasy at your
feet.” Here is where mentors can be so important. For me, mentors
have included colleagues and friends who were kind enough to give of
their wisdom and expertise; customers who have been so supportive of a
small practice; the remarkable members of our organization who bring
many gifts, and loving family members whose constant support and
presence make the journey possible and worthwhile. A portfolio career
offers the opportunity to fully express personal contributions and
aspirations. It is in finding this expression, which might include an
inner entrepreneur, that much is gained and much is given. It is a
special and meaningful journey. Wishing you well if you take this
journey.
Workforce Trends
How different
the economic and workforce climate looks today than when we last looked
in the March/April and July/August 2007 issues of Bringing Work to Life.
We examined the Beveridge curve describing the relationship between
unemployment rate and job openings. In 2007, we were at the upper left
of this curve, shown in the following figure, with relatively low
unemployment and a high job openings (vacancy) rate.
(Source:
Clark and Hyson, Monthly Labor Review, BLS, December 2001)
By late 2008
this had completely shifted, moving to the lower right of the figure
with unemployment rising dramatically and the job openings rate dropping
precipitously. The lower right of this figure reflects contraction in
the economy. Actual past behavior mirrors this well. The following
figure shows monthly Bureau of Labor Statistics data from December 2000
through April 2009:
Source U.S.
Bureau of Labor Statistics Data
The curve is
shaped as expected. Now, with glimmers of light as the new
administration’s stimulus package takes effect, there are signs of the
economy stabilizing. While unemployment will likely still increase due
to continuing fallout from the economic downturn, the job openings rate
will likely stabilize as shown in the figure.
The need for
a stimulus package to arrest the path from 2008 is highlighted by the
following sobering workforce statistics. The following figure shows how
rapidly unemployment began increasing in 2008:
U.S.
unemployment rate (%) seasonally adjusted (source U.S. Bureau of Labor
Statistics)
Resulting in
job losses summarized in the following figure, though there are hopeful
signs that the stimulus package is beginning to take effect in 2009:
The
Employment Situation: May 2009, Bureau of Labor Statistics
There is an
equally significant increase in average weeks unemployed beginning in
2008:
Average Weeks
Unemployed (Source U.S. Bureau of Labor Statistics)
And a rapid
increase in the number of discouraged workers, those who are not
currently in the labor force, want a job, but believe no job is
available:
Number of
Discouraged Workers (000s), Bureau of Labor Statistics
In addition
mass layoff claims increased rapidly in 2008 and into early 2009,
although there are hopeful signs that this trend may be beginning to
turn around:
Mass Layoffs
in April 2009, Bureau of Labor Statistics
Not
surprisingly, in 2008 the rate of hiring began declining abruptly:
Job Openings
and Labor Turnover: April 2009, Bureau of Labor Statistics
We are
fortunate now to have national leadership that recognizes the
significance of these trends and has acted swiftly to counter them.
These trends affect many in our society, particularly those already
marginalized. Many desperately need our support. For example,
homelessness is a growing concern. People are now suffering the
deprivations of living in tent cities in this, our affluent nation.
Homelessness affects those employed and those without the internal
resources to prosper:
Source:
Hunger and Homelessness Survey, United States Conference of Mayors,
December 2008
I recall
speaking with someone we’ll call him Harry, when recently conducting a
USDA survey of food insecurity (a euphemism for hunger) at a local food
bank. Harry had a quiet dignity as he collected his groceries and
answered those survey questions. Harry was in his mid-70s, had worked
all his life and here he was at the food bank. He spoke of being
hungry, of surviving. He did not speak of carrying a burden. It is our
responsibility as a society to support those who need it. We have a
responsibility to bring compassion and caring back into our society. It
is my hope that we will soon be able to say compassionate at last, we
are compassionate at last.
Quote
They left me
with your
shadow,
saying things
like
Life is not
fair
& I believed
them
for a long
time.
But today,
I remembered
the way you
laughed
& the heat
of your hand
in mine
& I knew that
life is more
fair
than we can
ever imagine
if
we are there
to live it
More Fair.
Story People (www.storypeople.com).
Elsdon Organizational Renewal (EOR) Mentions
·
Reviews of
“Affiliation in the Workplace: Value Creation in the New
Organization.” Ron Elsdon. Praeger, Westport, CT (2003)
o
Harvard
Business School
·
HBS Working Knowledge: Organizations
o
Global Diversity Institute
·
Global Diversity Institute - The Journal of Diversity Praxis
o
Journal of Asian Economics
·
ScienceDirect - Journal of Asian Economics : Ron Elsdon, Affiliation in
the Workplace: Value Creation in the New Organization, Praeger
Publishers, Westport, CT (2003) 280 pp. (hardcover), ISBN 1-56720-436-8,
$49.95.
o
Greenwood Publishing Group
·
Affiliation in the Workplace — www.greenwood.com
·
Chapter titled
“How Can You Grow Your Practice with Purpose?” in National Career
Development Association Monograph, “Starting and Growing a Business in
the New Economy” Edited by Sally Gelardin, 2007
·
Recorded
webinars for the American Institute of Chemical Engineers
o
Staying Career Fit in Turbulent Times, and Networking and Connecting
·
http://www.aiche.org/apps/cod/default.aspx
·
Webcast for
the Human Capital Institute (and associated white paper)
o
Building Workforce Affiliation to Keep Your Best and Brightest Talent
·
http://www.humancapitalinstitute.org/hci/research_community_product.guid;jsessionid=8C417EAC34880D6A38E82D4FBE2598C4?_webcastID=74366
·
Recorded
webinar for the Project Management Institute
o
“Becoming Career Fit in Turbulent Times”
·
http://pmi-issig.org/Default.aspx?tabid=319
·
“Building a
Strong Workforce Through Affiliation.” Chapter 26 in “On Staffing:
Advice and Perspectives from HR Leaders.” Eds. Nicholas Burkholder et
al, John Wiley & Sons, Inc., Hoboken NJ (2004)
o
http://www.wiley.com/WileyCDA/WileyTitle/productCd-0471410691,descCd-tableOfContents.html
·
“The Growing
Divide Calls for Advocacy.”
o
Article in March, 2007, NCDA Career Convergence magazine
·
http://209.235.208.145/cgi-bin/WebSuite/tcsAssnWebSuite.pl?Action=DisplayNewsDetails&RecordID=947&Sections=&IncludeDropped=1&AssnID=NCDA&DBCode=130285
·
“Reaching for
Our Deep Gladness”
o
Article in May, 2005, NCDA Career Convergence magazine
·
http://209.235.208.145/cgi-bin/WebSuite/tcsAssnWebSuite.pl?Action=DisplayNewsDetails&RecordID=625&Sections=6&IncludeDropped=&AssnID=NCDA&DBCode=130285
·
Mention in
article on cost of turnover
o
East
Bay Business Times, April 2005
·
Turnover costs exceed employers' estimates - 2005-04-25
·
“Worklife
Survival: Finding a Fit”
o
Article for HR West, February 2005 (Northern California Human Resource
Association)
·
http://www.nchra.org/StaticContent/Download/EXT0205007.pdf
·
Interview in
the education field “Affiliation as a Unifying Principle in Education”
o
Career Pro News
·
Affiliation and Education
·
MBTI Step II
workshop
o
CCDA News, April 2005
·
Local Chapter News
·
Review of ICDC
Global Issues Forum
o
CCDA, January 2005
·
ICDC Global Issues Forum
About EOR: Our Value Contribution
We enhance
your workforce, leadership and organization by:
·
Using
proprietary approaches to understand workforce and leadership challenges
·
Creating
tailored action plans and solutions to strengthen workforce and
leadership practices
·
Building
individual capabilities and contributions
We enable you
to focus on external results and building value, confident that your
organization and leadership are operating at peak effectiveness.
Our Mission
To support
your organization by enhancing performance, productivity and
effectiveness through revitalized workforce relationships and leadership
practices.
Our Approach and Values
We tailor our engagements to the needs of each organization with a
process designed to surface critical issues, identify root causes, build
effective solutions, monitor progress and implement.
With a scope that ranges from system and organizational interventions to
work with individuals, our focus is on the heart of the relationship
among the individual, the organization and the community. We believe
that organizational and community prosperity are built on enabling each
person to fulfill his or her potential.
Our Services
We work with
individuals and groups in your organization to drive performance and
development for both the short and long term. As a result people will
choose to work in your organization and will prosper there.
We bring
solutions when you need to:
·
Reverse
declining revenues and performance
·
Revitalize
your workforce
·
Stem the loss
of key talent
·
Redirect your
organization to new areas
·
Stop losing
customers or market share
·
Penetrate new
markets
·
Combat
aggressive competitors
·
Handle major
change
·
Break down
communication barriers
·
Energize your
leadership team
·
Successfully
build on an acquisition or merger
Our
proprietary services include:
·
On-site career
services that support the development of your workforce, build strength
in depth, increase individual fulfillment and affiliation, and
accelerate productivity growth
o
On site career counseling
o
Individual and group delivery
o
Metrics to guide on-going system enhancement
o
Integrated with the needs of your organization
·
State-of-the-art tools to take the pulse of your organization and then
move to action
o
Web enabled systems
o
Experts to gather and analyze information, moving your organization to
action
·
Individual
leadership coaching to give you world class leadership capabilities
o
Leaders who know themselves and their aspirations, build their
capabilities and become catalysts developing others
·
Workshops to
build interpersonal skills in your organization so that:
o
Communication is timely, concise, accurate and personal
o
People listen to each other
o
Negotiations are quick and effective
o
Differences create rather than destroy value
o
Teams move forward, get results and quickly commercialize new products
and services
o
People understand and link their motivations to your organizational
needs
o
Your teams understand what it takes to create a committed, energized
workforce
o
People use their time well
·
Systems that
make it easy to drive performance and build capabilities by:
o
Linking objectives throughout the organization
o
Strengthening key competencies
o
Making sure you have the bench strength where and when you need it
o
Giving people tools to take charge of their own careers and development
and have a major long term influence on your organization
·
Proprietary
simulation and modeling techniques that let you explore how to maximize
the value of your workforce
o
Move from guessing what might happen to looking in depth at the
financial impact of different approaches
