Tag Archives: Management

As 9-to-5 Office Jobs Become Extinct, How Are We Preparing Our Next Generation of Corporate Leaders?

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Recently, I’ve been coaching young professionals seeking the second or third jobs of their careers. Many started their careers with jobs they couldn’t refuse—positions that allowed them to live in their preferred city, pay back student loans, or get off the family payroll. After a few years, however, they’ve realized that the dream job they once sought isn’t aligning with their current reality, and they feel the need for a change.

In this post, I’ll explore what this means for both these employees and the employers who need to recruit, train, and retain top talent to build the next generation of leaders.

A Shift in Traditional Employment

Reid Hoffman, co-founder of LinkedIn, predicted that 9-to-5 jobs are dying and will be extinct by 2034, as shared in this post on LinkedIn and an  X thread by entrepreneur and investor Neal Taparia. Hoffman also predicts that within a decade, 50% of the US population will be freelancers—and they’ll earn more than traditional employees. As AI enters the picture, personal branding and standing out among your peers will become more important than ever.

Where does this leave those employees just starting in their careers? They are facing a new workplace reality due to the ripple effect of the COVID-19 pandemic which enabled a remote work environment for many professions disrupting the traditional requirements to be in the office to get your work done. As the nature of work shifts, we are all grappling with what works best for each company’s environment, and I’m finding that the supports that were once built into corporate onboarding and training have slipped tremendously. Unfortunately, this does a disservice both to employees and the companies they work for.

One key factor contributing to their sense of disconnection is companies’ failure to integrate new hires effectively, particularly in hybrid or fully remote work setups. This lack of inclusion breeds isolation and significantly hampers productivity and job satisfaction.

Working in the office can present a Catch-22. Interpersonal relationships with co-workers and learning by osmosis are real benefits of in-person workplaces that can get lost when working remotely. However, forced office time often backfires and causes resentment when employees find themselves in impersonal environments with few familiar faces when they arrive. Many times, in-the-office time is not coordinated by teams to gain the benefit of in-person meetings and mentor sessions. The lack of integration and the prevalence of closed office doors contribute to a disengaging experience that can be emotionally draining. As a result, early-career employees— who often have long commutes due to the high cost of city living—feel that they have wasted time commuting just to “show up.”  

So, while companies invest heavily in recruiters and AI-driven tools to screen resumes, there seems to be a lack of emphasis on employee development once employees are onboarded. This glaring oversight results in fewer growth opportunities leading to an absence of employee loyalty. A downward spiral ensues, as employees feel like they have to leave the company to seek new ways to advance their careers. It is a frustrating situation for HR managers, company managers, and employees.

Where Talented Young People Are Struggling

Here are some real-life examples of how companies have neglected to train and prepare new employees, leading to discouragement and ultimately turnover in some cases.

  • One company placed an employee in a sales role without providing any sales training, only to criticize them for not meeting quotas. Without mentorship, coaching, or guidance, the promising employee eventually became disheartened and risked being fired.
  • Another case involved a new hire asked to represent their company at a tradeshow. They were assigned to work the tradeshow booth without adequate training in how to speak about the company’s products and services. The lack of customer and marketing training paired with insufficient product knowledge meant that the new hire could not generate leads or effectively engage with potential clients. A brief, targeted training session could have significantly improved their performance and outreach.
  • In an educational setting, a recently hired teacher was isolated when assigned to a floor with veteran educators who were resistant to learning about new teaching methods. Despite the new teacher’s eagerness to implement innovative concepts, the resistance from experienced colleagues stifled their efforts and limited their impact, as well as prevented the teacher from bonding with new colleagues.

What has Changed

In contrast, when I was starting my career, companies like Honeywell and IBM offered rotation programs to expose new engineers to various areas, along with classroom training, guest speakers, and supportive mentors. This scaffolding for learning fostered both loyalty and job satisfaction. Unfortunately, many modern companies lack the resources or commitment to provide similar support, leading to diminished employee engagement and enthusiasm.

So, how did we get here? The gap between initial enthusiasm and long-term satisfaction is widening due to inadequate support systems, poor integration, and a lack of meaningful growth opportunities. Addressing these issues is crucial for fostering a more engaged and loyal workforce.

Strategies for Employers

Here are 11 strategies companies can implement to improve employee satisfaction, engagement, and development for long-term employees with a multifaceted approach:

1. Create Clear Career Pathways – Develop personalized career development plans that outline potential career paths for growth opportunities and clearly define promotion requirements.

2. Enhance Learning and Development Opportunities – Offer continuous learning opportunities through workshops, seminars, online courses, and certifications. Implement mentorship or coaching programs where experienced employees guide and support newer or less experienced staff. Provide leadership training and succession planning to prepare employees for future roles.

3. Foster a Supportive Work Environment – Cultivate an inclusive and supportive culture where all employees feel valued and respected. Promote work-life balance through flexible work arrangements, remote work options, and adequate vacation time.

4. Recognize and Reward Contributions – Implement regular recognition programs to celebrate achievements and milestones and ensure competitive compensation packages are regularly reviewed to reflect performance and market conditions.

5. Provide Meaningful Work and Autonomy – To keep employees engaged, assign meaningful projects that align with their skills and interests. Allow employees to take ownership of their work and make decisions that impact their roles.

6. Improve Communication and Feedback – Conduct one-on-one meetings to discuss career goals, feedback, and concerns.Maintain open communication channels for employees to voice their ideas, feedback, and concerns.

7. Support Personal Well-being – Offer programs that support mental, emotional, and physical well-being, such as counseling services, fitness memberships, and wellness initiatives. Provide resources and training for stress management and coping strategies.

8. Encourage Innovation and Creativity – Create platforms for employees to share innovative ideas, participate in brainstorming sessions, and allow employees to work on creative projects or initiatives outside their regular responsibilities.

9. Promote Team Collaboration – Invest in team-building activities that foster collaboration and strengthen relationships among team members. Encourage employees to work on cross-functional projects to broaden their experience and network within the company.

10. Provide Robust Onboarding and Integration – Ensure new employees receive comprehensive onboarding so they can integrate smoothly into the company culture and understand their role. Facilitate opportunities for new hires to build relationships and connect with their colleagues through social events and team activities.

11. Adapt to Changing Needs – Be adaptable and responsive to employees’ evolving needs and preferences, including changes in work patterns or personal circumstances. Continuously gather and act on employee feedback to improve policies and practices.

By implementing these strategies, companies can enhance employee satisfaction, engagement, and development, leading to a more motivated and loyal workforce. Leaders must champion these initiatives and ensure they are integrated into the company’s culture and operations, which can be especially difficult with a remote or hybrid working environment—but it is essential to put in the extra effort to make it work.

Of course, new employees need to do their part as well—simply changing jobs when you are dissatisfied with your current situation is not a solution. I’ll address how employees can proactively manage their careers in my next post.

[Image source: AI generated]

The Second Lieutenant Advantage: Embracing Collaboration in Entrepreneurship

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Not everyone aspires to be the leader. Some individuals find genuine fulfillment in supporting their teams — stepping into the limelight when necessary, and gracefully stepping back when it’s time for others to shine. In the fast-paced world of entrepreneurship, where the prevailing stereotype often emphasizes the leader persona, there is immense value in fostering a collaborative environment where everyone’s contributions are recognized.

The Happiness in the Shadows

For some, the limelight can be daunting. I, for one, appreciate having my moments but find satisfaction in letting others take center stage. It’s not about avoiding responsibility or lacking ambition; it’s about finding happiness, acceptance, and humility in being part of a team where everyone’s efforts contribute to the collective success.

When I watched the CBS News video, “Sidemen, Backups, and Understudies: Playing in the Shadows,” it really resonated with me. I encourage you to take a few minutes and watch it. The segment features Mark Rivera, Billy Joel’s sideman and saxophone player; retired baseball catcher Erik Kratz, who spent 11 seasons with 14 different major league organizations; and Kayla Pecchioni, a Broadway understudy who often steps into the shoes of the star. These professionals play in the background or are called up when the stars aren’t available — and they all embrace their position as #2.

These very accomplished individuals understand the importance of their role and talent and a humility that allows them to shine even when they’re not number one. One thing that stood out to me was their “team first” attitude. They work just as hard as the superstars to be the best that they can be for the team.

Rivera explains he’s been the frontman, and he feels he has a much better gig now. Katz comments that the lesson is about finding contentment built on a foundation of humility and gratitude. While Pecchioni talks about looking for glimmers and being appreciative of the everyday. While we may not know their names, these team players help ensure their organizations are successful.

The Desire to Belong

In today’s entrepreneurial landscape, people are increasingly seeking to be part of something bigger than themselves. While not everyone can, or wants to, assume a leadership role, we are more dependent than ever on individuals who can step up when needed. However, it’s crucial to do a better job of recognizing and appreciating these contributors beyond just the top leadership echelon.

Entrepreneur magazine advises how leaders can foster a sense of belonging in the workplace, and how this helps employees feel free to be their authentic, true selves, which makes it easier to show up, engage with others, create solutions, and perform well.

In a study cited in the article, a high sense of belonging among employees was strongly linked with a 56% increase in job performance, a 50% decrease in risk of leaving, and a 75% reduction in sick days. For a company of 10,000 people, this could mean annual savings of more than $52 million.

Social belonging is a fundamental need. Entrepreneurial leaders need to remind themselves that the hard-working team members who may be playing in the shadows need to feel included, and as leaders, they should proactively create a workplace of belonging for everyone.

Creating a Culture of Recognition

Not everyone can be a general; not everyone can be a second lieutenant. However, everyone can be recognized for their unique contributions. The key lies in acknowledging the diverse roles within a team and ensuring that each person’s efforts are valued.

When I worked as the executive director of MIT’s Martin Trust Center for Entrepreneurship, I was involved in almost every aspect of the Trust Center and the delta v accelerator, which is the capstone entrepreneurial experience for students at MIT. However, although I was not the face of theCenter or the program, I was the “glue” that held it together. For me, this was a role I preferred, and it gave me the opportunity to make the team and the delta v program shine.

I also played a similar “second lieutenant” role at startups that I helped to grow. I realized that providing direction and support, and letting others lead when necessary, yielded better results than anyone had projected.

Being “on” all the time can be exhausting for some of us. By surrounding ourselves with a collaborative team, we not only get to experience our moments of success but also share in the success of others. This sense of camaraderie builds a strong team spirit and reinforces the notion that everyone is supported. However, the leaders in the organization must recognize all the behind-the-scenes people that are essential to their success.

Balancing Ambition and Contentment to Gain a Sense of Fulfillment

Many individuals today seek better balance in their lives. It’s not a lack of ambition or a fear of challenges; rather, it’s a conscious choice to find happiness in what they do and contribute to a collaborative effort. Recognizing and motivating teams is now more critical than ever, especially in a hybrid work environment where face-to-face workplace connections are not as strong since daily interactions may be limited.

A sense of fulfillment at work goes beyond a mere paycheck. It’s about having the opportunity to step into the limelight, share achievements with the team, and then step back and continue contributing. A culture of mutual respect, where individuals rotate in and out of the spotlight, fosters a positive and supportive work environment.

Another interesting perspective is to look at how different generations view leadership and management positions. According to an article in Business Insider, many Gen Zers are saying “no thanks” to promotions because they feel that doing more work to get promoted is not worth the pay or the accompanying stress.

Work-life balance has become a bigger part of the conversation for this newest generation in the workforce, and bosses need to think about what other incentives might entice Gen Z (born from 1997 onward). Meaningful work, career development, mentorship, transparency, caring leadership, and an entrepreneurial culture are all factors that may motivate Gen Zers more than a bigger paycheck or a promotion.

In any generation, embracing the concept of allowing oneself to learn from others is pivotal. Observing and enabling the growth of team members allows for collective progress. It’s about moving away from the notion that everyone should constantly be climbing the corporate ladder and, instead, recognizing the potential for growth within the existing environment.

Conclusion

In the ever-evolving landscape of entrepreneurship, it’s time to break free from the misconception that success is synonymous with leadership. The strength of being a second lieutenant lies in recognizing the power of collaboration, appreciating diverse contributions, and fostering a culture where everyone can shine. In the hybrid world of work, where connections are not as visible, creating an environment that values every individual’s role is not just a strategic move; it’s a necessity for sustained success.