Zuccotti Park and the Generations
This past Monday afternoon, I had occasion to walk past Zuccotti Park in downtown New York, site of the Occupy Wall Street movement. What struck me was how similar it appeared to the Vietnam protests on the Washington Mall 45 years ago. There were tents. There were protest signs. There were guitars. There was weed. I fully expected to see Joan Baez to come wandering out from the crowd.
But here’s the thing. The vast majority of those in the park appeared to be aging Boomers. Very few appeared to be younger than 50. Boomers have always been known for enjoying a good party or protest. It’s in their genes. After all, how many Boomers remember being at Woodstock when, in reality, they weren’t old enough to walk?
So how about the younger generations? I’m sure they were there, probably tweeting their protests to the world rather than chanting about the Wall Street evil-doers. How times have changed. This 99% is equipped with the latest in digital technology and all the comforts of home. (You should have seen some of the tents.) According to one estimate, OWS has collected more than $500,000 and is developing a budget. They are "taxing" those in the park who are providing services to other protesters. Leave it to the Boomers to erect a protest movement with all the comforts of home.
Twelve hours after I was there, the police evicted them . . . tents, guitars, cappuccino makers and all. They have now been allowed to return, sans the accoutrements. I want to know what will happen to the half million dollars. Maybe they’ll invest it.
The thing that I find troubling about this entire effort is the ignorance, on both sides. The average OWS protester, regardless of age, cannot explain what the movement is about other than telling a personal story about how he or she is being wronged by those in the Wall Street towers. At the same time, the average worker on Wall Street cannot explain to the average protester how his or her firm contributes to the standard of living of the 99%. If we expect future generations to thrive, we have to teach them the economics and civics upon which this nation was founded. Tweeting and blogging about it won’t do.
Generation Jobless
The current economic climate has had a huge effect on the lifestyle of young adults under age 24. At 16.4%, young adults’ unemployment rate nearly doubles that of all other adults, and it has remained above 16% for nearly 32 months.
These young workers have found different ways in dealing with this crisis. Some young adults are forgoing graduate school in order to start paying off debt. An increasing number of younger adults – one in eight – are sharing the cost of living by moving back in with their Baby Boomer parents. Others are working temporary or part-time jobs while they continue their search for full-time employment.
More optimistic graduates are collaborating with small business owners to help entrepreneurs grow their businesses, while some students are bucking traditional careers in order to earn free degrees while learning a viable trade.
Case Study
I am the lead broker in a small investment firm. Most of us have been with the organization for 20 or more years. This past summer, we hired a newly-minted MBA from a local university. He’s bright, well read and pushes us all to think harder. But that’s the problem. He is so full of ideas that it makes everyone’s head spin!
A number of his inspirations are certainly doable and would probably contribute to the bottom line. But if we did everything he suggested, there’d be chaos. That’s the rub. He’s frustrated that we’re not adopting his ideas and is making it known through sarcastic comments and little digs that put people on the defensive. I don’t want to lose him, but I don’t want him alienating everyone either. What would you suggest?
I would begin by taking stock of why you hired him in the first place. How did you represent the position on the way in the door? With what expectations did he come on board? You can assume that a newly-minted MBA will want to put his knowledge to use as soon as possible. With a team of long-timers already on staff, a clash in expectations might have been expected.
So it would appear you have three challenges: 1) Adjusting his perspective so that he better understands how he can make an effective contribution to the firm. 2) Considering your own expectations and those of your long-time colleagues so that you can make the most of his ideas and expertise, 3) Coaching him on how to improve his communication style when frustrated with the pace of change.
It is understandable that this young man would think that he can have a material impact on the firm almost immediately. The in-bred impatience in young professionals these days presents a problem for many employers.
I would take him to lunch and have a frank discussion about his expectations and the firm’s realities. You have to find a balance between encouraging his energy and understanding that organizations, even the most effective ones, don’t turn on a dime. I would coach him on how he might bring his ideas to the fore in ways that will appeal to you and your colleagues. As in any situation, he will have to sell their value to the stakeholders.
The next challenge is to meet with your veteran colleagues to ensure that they remain open to new ideas, his and any others. While this young professional has to convince them of his proposals, they have to be willing to embrace new and potentially profitable ideas. As lead broker, they’re watching you for guidance.
Finally, he needs to be coached in his communication style. As the saying goes, "You catch more flies with honey than vinegar." His sarcastic comments are hurting his efforts even on the most helpful of ideas. Patience is one of the most important elements in change. As he learns its value, his ideas are more likely to be embraced.
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