Led Zeppelin Leadership: How do you innovate when you're dazed and confused ....

At a particular keynote last week, I met a number of senior executives who certainly agreed with my message - we need to constantly realign our company to the reality of change that surrounds it. That's where innovation comes from. But they also also indicated that they found it increasingly difficult to keep up with the rapid change occurring all around them.

There's been an increasing number of these individuals, and I've come to call them the Led Zeppelin refugees: they're simply dazed by the changes occuring in the high velocty economy, and are confused about what to do next.

That's why there's such a good question that flows from this: just how do you become an organization that is focused on innovation?

One of the easiest methods is simply by identifying the obvious and the not-so-obvious trends that will impact your business or organization -- and then taking the time to figure out what actions you must undertake to deal with those trends.

Ask yourself this question: are you prepared for what comes next in terms of your business? The likely answer is no: my experience is that many organizations still have a very short-term minded outlook. They're caught in an innovation rut, simply doing day by day the same old things they've always been doing, day in day out. And they don't really think about how their world is going to change.

That's why you should undertake a "trend-and-innovation" audit of your organization: quite simply, figuring out what comes next, and what you need to do about it.

How can you do this? By asking yourself a series of questions:

• How quickly is our marketplace changing? How quickly might it change in the future? What's the impact on what I sell, and how I sell it?
  
• How are our products changing? Willl they change faster in terms of features? Will support become easier, or more complex? Can we manage to operate in a faster market?
  
• Are our products moving upscale, or are they becoming commodities,such that you'll be forced to compete on price? Can we do something so that there is more of a service element to our product?
  
• What new competitors are appearing, or might emerge in the future? Is the basic business model threatened? Is there more likelihood of direct outreach to the consumer rather than through an existing distributor/wholesaler network?
• What moves could we make to make sure we can remain competitive? You really must ask yourself some probing questions as you go through this process. You need to challenge yourself and think what might really be different in five years, in terms of what you sell, who you sell to, how you sell it, and who you are selling against.

What you need to do is ask yourself these tough questions, so that that you're thinking about where there might be new problems and new opportunities that will impact your business in the future, not just in terms of what you sell, but in terms of the structure that you use to get things done.

And therein lies the rub: I think a lot of organizations fail to do this type of simple analysis. There are too many who sit back and react to change instead of thinking: "ok we know some big change is coming what the heck are we going to do about it?" Think of it is a forward-oriented innovation: it's a simple concept, and one of the most important things you should be doing.

Future careers: Knowledge explosion is key

Career issues are hot! And one of my favorite ways to open a keynote or executive session is by quoting from an Australian study, which indicated that sixty-five percent of the kids who are in preschool today will work in jobs or careers that don't yet exist.

I passionately believe this to be true: and I've seen the trend occurring in countless professions and industries.

This week, I keynoted a Career Day event at Capitol One in Richmond, Virginia ; the focus was upon the rapid emergence of new careers, and the rapid evolution of existing skills. My message, in looking at the future career opportunities, was that there's nothing but upside, as long as people keep reinventing their skill set.

The topic of the future of careers is a big one these days; I'm being called into many organizations and events to talk about the issue, particularly in the context of recent economic trends. Some of these events have been local economic development conferences. In one talk in January, I spoke to an audience of executives and educators in an auto-sector city ; a group of people caught up in the throes of economic restructuring and turmoil.

Talk about an audience in the midst of challenge! Yet when you are in that type of economic bubble, it can be hard to see the future career opportunities that do exist. That's why I didn't focus on the short term economic turmoil, but instead, on the real, practical trends that are defining the careers of tomorrow.

Many sectors of the global economy: and in particular, the manufacturing and financial sectors, are being hit hardest by the US recession, the sub-prime meltdown, and global competition.

The auto-town event got covered in the local paper: and the story ended up being reprinted throughout the Canadian press, including in Vancouver, Calgary, Ottawa and Montreal. One of the key observations I made in the article: "We have to figure out how we can continue to move up the knowledge ladder because there's going to be a massive shortfall in specialized skills because of the rapid growth of knowledge."

That's an important issue to think about, and the article is well worth a read.

More information:

• Read Knowledge Explosion Key to the Future
• Read Global Economic Trends: An Interview with Jim Carroll
• The reality of future trends: grab the What Comes Next trends overview

"Here we are now, entertain us" - Decoding Gen-Connect

One of my latest columns focuses on what will likely be the corporate issue of 2008 - managing generational challenges in the workplace.

In the column, "Here we are now, entertain us," I take a look at the unique attitudes that Gen-Connect is now starting to bring in to the workplace. There are several key observations from the article that are critical to understanding the future of the workforce:

• What is clear is that we are witnessing the death of the long-term career and corporate loyalty, which will soon be but a quaint memory from the previous century.
  
• I often tell the story of a young engineering graduate who turned down a job with an architectural firm because its 9 a.m. to 5 p.m. work hours conflicted with the time he expected to be carving arcs into deep powder in the mountains. It’s a real attitude, and it’s already happening around us. The challenge, when such trends are so patently obvious, is trying to figure out what to do about it. And a good part of the solution will come through the transformation of rewards and remuneration.
  
• Gen-connect has very little patience, particularly when it comes to being rewarded for good work or significant effort. These youngsters are used to instant rewards: their Xbox/Wii video-game-oriented world has them accomplishing a goal, moving up a level, and earning some points or other valuable form of currency that helps them accumulate additional armour, weapons or whatever else is needed to accomplish the game’s next challenge.
  
• That’s why, at a recent conference, I framed the issue of rewards transformation to an audience of financial professionals this way: “Organizations that can attract, engage, retain and amuse an increasingly complex workforce will be the ones who find success in the rapidly evolving global economy.”
  
• Put the emphasis on the word amuse. Today’s Gen Y doesn’t, and tomorrow’s Gen-connect certainly won’t, have any patience whatsoever for slow and steady career paths.

Related postings:

Article: Here We are Now, Entertain Us

Related article: Don't Mess with My Powder, Dude!

Keynote topic: What's Happening with Our Workforce: Achieving Competitive Advantage Through Skills Agility

Critical Trends Analysis: 10 Unique Characteristics of 21st Century Skills

Permanent link to this item ...posted at 06:34 AM...January 07, 2008

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Major trend - the future of the organization

Take a look at this kid.

He's your next employee. How are you going to recruit, retain, manage, interest and amuse this fellow? What's your workforce going to look like in 2012, 2020, or beyond?

There's quite a bit of focus on trends relating to the future of the organization -- and organizations are seeing innovative strategies to cope with the world of high velocity change that we find ourselves in.

Last week I was the opening keynote speaker, and a panelist later in the day, for an offsite of one of the world's largest professional services firms. Tomorrow, I keynote a get-together of key clients of a multi-billion insurance/financial services company. A few months ago, I ran a Board of Directors/CEO level meeting on the issue for a major industrial company.

If you don't have this issue figured out yet, you'd better start thinking about it in a hurry.

There are certain things we know for a fact that relate to the future of the organization.

• there is a huge amount of expertise walking out of the economy. In 2010, 3 people will leave the economy for every person that enters it; by 2012, 4. By 2016, 6 people will leave for every new worker that joins. Those are staggering realities.
  
• the current generation entering the workforce is completely rejecting the concept of a traditional career. More than 50% of young people in a US survey indicated they believe self-employment to be more secure than a full time job. They don't want to work for big organizations. They'll be nomadic, contingent workers, entrepreneurial and global.
  
• skills are fragmenting and specializing at a furious pace. Knowledge half-lives in most industries are compressing to a matter of just a few years. Knowledge extinction is real, and massive skills fragmentation is occurring at an extreme velocity. The result is that most organizations will find future failure will come from an inability to get specialized skills. A strategy that is focused on global access to extremely specialized skills will be a transformative factor for winning.
  

The whole issue is massive, and is one of the areas in which innovative thinking is needed now. It's a CEO / Board level issue. It's transformative. It's urgent.

More information

• What's Happening with Our Workforce: Achieving Competitive Advantage Through Skills

• Critical Trends: 10 Unique Characteristics of 21st Century Skills

"Flexibility defining careers, workplace"

An article on my perspectives on the future of the career has run in a wide variety of papers across the country.

The full article can be found here in Adobe Acrobat format.

Some of my key observations, as quoted within the article:

• Recognizing the disappearance of a one-job career, workers will need to be flexible, capable of instantly adapting to new processes and able to absorb stunning amounts of new information and knowledge.....
  
• the next generation of workers will be far different than any which has gone before. They will be far more entrepreneurial because many already think self-employment is more secure than a corporate job.
  
• one segment of the workforce will be expected to be far more specialized to deal with this explosion of new information
  
• others will be expected to be flexible enough to shift between careers and jobs
  
• there will also be those who help people deal with the complexities of everyday life and their workplace.
  

The latter point links to the trend I've identified of the emergence of complexity partners, brand new careers (or entire organizations) which simply involve the management of complexity. [ watch the video ]

The article caught my comments on this particular trend:

• "One of the hot new jobs created by the fact that medical knowledge is doubling every eight years is the "hospitalist" -- someone who not only helps patients navigate their way through the medical system ......
  
• While the term didn't exist before 1996, there are now more than 10,000 hospitalists in the United States."
  

All of these observations tie into my Trends Analysis, "10 Unique Characteristics of 21st Century Skills," posted a few weeks back, and also available here. There are massive changes underway within the global workforce, which makes talent, not money, the new corporate battlefront.

Talent, not money, is the new corporate battlefront

Here's a trend to think about : Companies will soon be accessing needed skills from all generations: from bright, knowledge aggressive 15 year olds to active 80 year olds.

We are soon going to have the longest life-span economy that has ever existed. Preparing for that shift both culturally and organizationally will give companies a strong plan for dealing with the skills challenges of the future.

That's but one trend I outline in my latest trends overview: "10 Unique Characteristics of 21st Century Skills."

What people are witnessing right now in terms of the "skills crisis" is just the tip of the iceberg, and a key factor for future corporate success will come from how well the skills issue is managed. The war for talent in the 21st century is going multi-dimensional, because there are a variety of trends that are forever changing the nature, loyalty, accessibility, and half life of skills.

A big part of the battle will involve "human capital agility": the ability to deploy the right skills at the right time for the right purpose -- regardless of where the skill might be required, or where the skill is sourced.

As skills become more specialized, everyone will find that they need to draw upon an increasingly global talent base, a reality that will demand new forms of collaboration, rapid human capital and project management skills, and deep insight into the effective utilization of those skills.

That's why skills management strategies that focus on agility, insight, and execution will be critical. I have a number of keynotes focusing on the issue of global skills, notably one high profile presentation in Grand Cayman in two weeks. More to come.....

Access the Critical Trends: 10 Unique Characteristics of 21st Century Skills here

Managing Gen-Connect

Everyone is talking about Gen-Y.

I've come to call the next generation, Gen-Connect. Their attitudes towards careers, which is very unique, is caught in this video clip.

As I posted previously in this blog, "This next generation is completely different in terms of how they think. Kids today 15 and under coming into the workforce are not going to want to have a job, they're not going to want to have a career path, they’re not going to want to work for a company. They are the ultimate entrepreneurs. You're not going to be able to hire them. You're going to be able to contract them at best."

Their attitudes are part of what is driving 10 very unique attributes of 21st century skills, which was captured in a blog post here.

10 Unique Characteristics of 21st Century Skills

There's been a lot of talk about the skills crisis lately. Most of it is focused on the wrong thing -- people seem most worried by the fact that a lot of baby boomers are set to retire, and are taking their skills out of the economy.

That's a big issue, but that's not the big issue.

If an organization is to survive the high-velocity economy, it needs to be doing a lot of innovation with the 10 Unique Characteristics of 21st Century Skills:

• skills are more specialized. Rapid knowledge growth means that it is increasingly difficult for people to keep on top of what they need to know. That means people need to specialize; knowledge niches are the reality for most professions and careers. As they specialize, simple supply/demand reduces skills availability, leading to skills inflation. It's going to cost more to get the right specialized skills -- that's a big problem.
  
• skills are disloyal. A recent survey out of Belfast indicated that 36% of people indicated that on their very first day on a new job, they were already thinking about looking for another job! I don't think that's unique to the Irish -- (and I am of Irish descent....) -- I believe that it confirms that a massive philosophical shift towards a "job" and "career" is underway. The death of corporate loyalty means an increasing difficulty to get the right skills.
  
• skills are degradable. The half life of knowledge is decreasing at a furious rate. Most organizations are discovering that the skills they do have are becoming increasingly useless as knowledge obsolesence takes hold. Skills are ready to walk out the door as soon as they arrive -- and if they hang around, their value decreases rather quickly!
  
• skills are renewable: Fortunately, out of date skills can be given new life. if people and companies can develop the ability to generate just-in-time-knowledge -- a phrase I coined over a decade ago -- they'll learn how to adapt and evolve.
  
• some skills have no urgency: The challenge is that a lot of skills don't really worry about the points above. Some professions, and many staff in organizations, simply don't think about the reality of skills extinction as a real trend. They have no desire to upgrade, enhance, or change their capabilities. The lack of urgency leads to a sclerosis that impacts the overall ability of the organization to change, innovate and create.
  
• skills are disposable: The unique thing about skills today is that companies clearly don't need staff anymore -- they simply need the right skills at the right time for the right purpose. After that need has gone, they will need different skills for a different purpose. In the high-velocity economy, the idea of a permanent skills base is a quaint concept from the 20th century.
  
• skills are increasingly portable. That's the good thing we've learned with globalization: with the depth of the emerging skills crisis, it doesn't really matter anymore where the skills are -- as long as you can get them, that's all that counts!
  
• skills can be transferable: the boomer retirement issue is real. Smart organizations are spending big money to ensure that important knowledge is captured, retained and archived.
  
• skills should be experiential. This goes back to my '21st century capital' post: I think that one of the most important assets a company requires is the depth of it's experiential capital -- that is, the knowledge is has learned through innovation, risk, failure and success. Boost that skills capability and you've done something that flows onto the bottom line.
  
• skills are generational: We're going to have a lot of active 80 year olds in the economy as the end of the concept of retirement draws near, at the same time that companies seek skills from bright, knowledge aggressive 15 year olds. We are going to have the longest life-span economy that has ever existed. If we prepare for that culturally and organizationally, we've got a good strong plan for dealing with the skills challenges of the future.
  

Some months back, in an entry I wrote a blog entry on the concept of "21st century capital". One item I included was the concept of capital including a "strong skills accessibility capability", noting that "talent, not money, will be the new corporate battlefront .... "

That's an important battle, and it's going to require a lot of innovation and creativity in terms of solutions.