The Company of Tomorrow

Monday, May 5, 2008 | 1 p.m.

I’m sensing an interesting dynamic within my firm these days. It appears a changing of the guard is in order. I believe that the next generation is poised and positioned better than my generation was. People in my generation seldom admitted when they didn’t know something. However, those in this new generation recognize when they do not know something and are not afraid to ask for help. People in this new generation are looking for employment experiences that augment their current understanding. We looked for job security, while they are looking for learning opportunities and freedom.

Like so many before us, we are having a difficult time understanding the next generation. While I understand and appreciate the younger folks’ need to strive for balance between what they need and what their employers need. I am somewhat concerned that the organization that we know today may not exist in the future. People in my generation gave themselves unselfishly to the companies for which they worked. Our identities were defined by these companies and we viewed work as much more than just our calling or our sense of duty. We became tied to those companies and gave tirelessly, even sacrificing our own personal lives to help make the companies succeed.

The new generation has set boundaries. It appears to me that this new generation’s sense of commitment is not unconditional, like my generation’s was. This has pros and cons as viewed through my lens, but since I don’t fully understand this generation’s mindset, I hesitate to pass judgment. On the one hand, I envy them; on the other, I wonder if they will be successful. But what is success? They will define it differently than I did.

Recently, a young professional working in my firm decided that he no longer wanted to live in Las Vegas, and he left the firm. While this is not necessarily uncommon, I was struck that he packed up and moved without having a new job waiting for him. This was unheard of for my generation. My peers would never have left our jobs without a new job lined up.

I’m happy for him, especially because he has the courage and confidence to make a move to the place he wants to live–and he’ll find a good firm in which to work. But, at the same time, it causes me to question whether my lens is too foggy to see things as this newer generation sees things.

My generation was loyal to the company for which we worked. People in this new generation are loyal to themselves and to the experiences they receive from the company. Not that this is a bad thing, but what does it mean to the company of the future?

Here are some things to consider as your company evolves:

Engage the younger generation in the planning of your company. Since we can be pretty sure that the next generation of employees and company leaders will view things differently than we do, involving them in strategic planning will help to expose these differences. The planning process will be a great opportunity for different generations to understand each other better and to see and appreciate their diversity. Appreciation of these varying viewpoints will help your company strive for something better than one viewpoint ever could.

Embrace a mix of flexibility, challenge, security, and tailored jobs in your company. While those in my generation don’t view work the same way as those in the newer generation, it doesn’t mean that we don’t value some of the same things. Given the opportunity, we would look for flexibility, challenge, security and jobs that fit our given talents and passions. It makes sense that if we want to keep good employees, then we should embrace the things that they are looking for in a company. Things like a flattened hierarchy, autonomy, and collaborative leadership and management.

Document the values and principles on which your company was founded. One of the things that hold diverse opinions and people together is shared vision and values. I’m sure that your company has developed a set of values and principles that set it apart from other companies. Documenting these values and principles and sharing the reasons they are important to the company is critically important for long term sustainability.

I’d like to hear from you:

• Have you been through a generational firm transition? How did it feel? Can you describe the pros and cons of the process you went through?

• Do you see a difference between the way you view work and the way others view work? Can you describe the differences? Are they generational?

Until next time …

Craig