When we look at something each time from the same perspective, like this flower for example, we only see what we always see. It may always be delightful to look at and we may feel like there is no need to ever look at it differently, but what could we be missing when we hold on to this attitude? When we change our perspective we often discover something even more beautiful and interesting, something we would never have known had we not simply changed our perspective.
We all know, all too well, that we are in a terrible economic crisis in our country and in the world. We think about it, we talk about it, we listen to it and read about it constantly in the news, and we feel it everyday in everything we experience. We want it to go away, like a bad headache, but to some degree we are in denial about what it will take and the changes we will have to make.
Because of the current economic situation, companies are having to let go of thousands of people, and by 'people',in this instance, I am referring to salaried professionals. It is not because these companies don't need the work done that their displaced workers were doing. It is purely a financial decision. Nearly 80% of most companies' operating costs are spent on salaries and benefits. When cuts have to be made in the operating budget this is the most logical place to look first. It's not about the work. The work still needs to get done. That means that the people who remain have to pick up the slack and/or the organization's leadership has to reprioritize the work. Unfortunately, some of the work that gets eliminated, in the short term, is actually work that is strategically essential to prepare the business for the needs of the future. So, how does a company get over this conundrum - having to cut the valuable resources that are essential to its economic success in the future only to survive in the short term? We could either look at this situation with the usual perspective which would be to tighten the short term operating budget, restructure the organization and the work, and hunker down and hold on until 'the storm' is over, or we could look at it from a different perspective.
I am currently working on a project at a small renowned east coast business college. As part of this project I have daily interaction with the undergraduate and graduate students. Like most college students across the nation, they feel trapped in a very disheartening circumstance. Only 8 months ago they were looking ahead with optimism. They expected ample job opportunities to be awaiting them when they graduated, and all the surveys were indicating that starting salaries would be even higher this year than they were last year. Now, unfortunately, these students are having to compete with thousands of highly skilled and experienced professionals who have been cut from their former companies for a dramatically reduced number of available jobs. And if that is not bad enough, even if they are successful at getting a job offer, it is likely that the salary offer will be lower than those offered to new grads in 2008, as salaries in general are being lowered across many companies to hopefully save jobs and yet still cut costs. Left with the uncertainty of employment in the near term, many students are deciding to stay in school and get another Bachelors degree or a Masters degree or even another Masters degree, which ultimately will only enhance their academic credentials and leave them with even more tuition debt.
This is not a unique idea. Several years ago, I was on a business trip in the western U.S. and I took advantage of the opportunity to visit my youngest daughter who was studying at Brigham Young University. On the particular weekend of my visit, her Advertising class was having a competition. The culminating project of their semester's study was to find a business in the Provo, UT area that had a need for the development of an advertising and marketing plan to help grow the business or meet some challenging issue they were currently facing. The students were put into teams and had to do market research and then from the results of the research develop plans and materials that on this weekend they would present to the prospective businesses. It was fascinating to watch as each of these teams presented. It was like watching a Madison Avenue show. The presentations were polished and professional. They were thorough and well founded in the research collected. They were actionable, so that the companies could easily run with the results. If this can be achieved by one Advertising class, imagine what could be achieved for the benefit of local businesses in need by an entire business curriculum of a local school.
Perhaps if we look at this situation from a different perspective we might find a win-win solution for businesses that are in short supply for critical resources, and students who are in desperate need of experiences that will allow them to apply the theory they have mastered in school. Think about it. Much of the work that businesses need to continue is in the form of projects. Certainly, there are the daily plethora of transactional tasks that keep things running, but it is the key strategic projects that will lead to the innovations and changes that are essential to the future success of the organization as it continually re-events itself and prepares for the dramatic changes associated with the future. What if businesses turned to their local colleges and universities to tap into the student resources available to help take on some of these key projects. After all, these students are being taught by some of the best and brightest minds in the field of business. Students could take on these projects purely for the sake of learning and having the privilege of applying the principles and practices they have mastered academically.
One of the paramount lessons that I think we learned from the experience of 9/11 was that when we as a nation are collectively confronted by a serious threat, we bind together and in unity overcome the obstacle before us. The current economic situation before us is clearly an opportunity to unite and help each other. If you are in a business, you could approach your local colleges or universities and offer key project opportunities to the students. If you are in academia, you could approach local businesses, through your networks, to identify opportunities and offer your support and the resources of your students.
If we all work together during this time of crisis and opportunity, we will surely come away with an outcome that ultimately prepares us all to function much more effectively and successfully in the future. All that is required is that we look at this situation from a new and different perspective.
No comments:
Post a Comment