success

Future of Work: What do Longer Lives Mean?

My grandparents were born not long after the Civil War and lived into their mid-60s to mid-70s. My parents and their siblings lived into their late-70s to mid-90s. The Boomers have made ‘60 the new 40′ and millennials are likely to see passing 100 years old as pretty routine.

Have you thought at all about what this means for business? For your own future?

I suspect many people have not. When I speak about longevity, current audiences are almost as likely as those 15 years ago to assume they will retire in their 60s. Investment companies regularly report that retirement savings are not adequate for living beyond 10-12 years of retirement.

A recent book, THE 100-YEAR LIFE: LIVING AND WORKING IN AN AGE OF LONGEVITY by Lynda Gratton and Andrew Scott, offers ideas and insights for our future. Businesses which begin to adapt now will have an advantage. Longer lives also mean different patterns of working and education. Yet most of us still build our business practices around some three-stage life notions of education in youth, 30-40 years of work, and then retirement.

The recent Great Recession brought some changes as more people worked into their late 60s and mid 70s. Retirees returned to the workplace in temporary, seasonal, and lower-skilled jobs. Today there are more people working past 55 and into their late 70s than at any time since before WWII.  But companies have not fundamentally changed their practices.

No-one can really save enough to retire for 30 – 40 years in a 35 – 45 year work life, especially now that pensions have become so rare. One of the early illustrations in the book is a scary look at this point. Someone born in the early 1970s, […]

By |March 19th, 2018|culture, non-profits, Smart practices|Comments Off on Future of Work: What do Longer Lives Mean?

The Leader’s Role

Whatever your size and growth pattern, here is a quick summary of some of the most critical functions of an executive or founder.

From a McKinsey interview with Richard Bracken, CEO of HCA:
“I’m not fond of trying to sum up something as nuanced as leadership skills, but if I had to say what are some of the fundamental attributes of leadership that matter to me, the following would be high on my list.

First, the attitude of the organization toward change is established by the tone set at the top. For me, that means a continued statement, restatement, communication, and validation of the company’s mission and values, which includes reinforcing its culture. This is the CEO’s first and most important job and a clear requirement of leadership. As leaders, we must not only determine the appropriate strategic course but also define how we, as individuals and as an organization, will conduct ourselves.

Second, and most obvious, leaders must ensure the development and execution of a clear, well-communicated, and appropriately measured operating plan.

Third, effective leaders ensure that the right team, with the right values, is in place to execute the plan and can pivot appropriately when factors change.

Fourth, effective leaders show an intellectual flexibility that recognizes there are different ways to achieve goals and objectives within different environments. To me, it is important that environmental and market changes do not modify the company’s, or the executive’s, basic values.

And finally, I think a good leader is a problem solver. How an organization deals with problems, failures, and missed opportunities clearly defines an important aspect of its culture.”

Read the entire interview at http://www.mckinsey.com/Insights/Health_systems_and_services/Leading_in_the_21st_century_An_interview_with_HCA_CEO_Richard_Bracken