Reading the Tea Leaves
Change is inevitable … growth is optional.
Human calculators. That was the characterization of the Vice President of Finance of the many financial analysts and accountants who worked in the maze of cubicles and desks in the department.
This characterization was part of an after-hours conversation I had with the vice president in the late 1970’s. I was a member of his organization, serving as a manager of financial planning and analysis. The financial organization supported the company’s consumer products business group. A few days prior to that after-hours conversation, the Operating Committee composed of the senior management of the company asked the business group to propose options for executing the group’s business strategy. The Operating Committee agreed with the business strategy. However, the committee was concerned with the risks related to the speed of the strategy execution.
When the Operating Committee asked when we would have the options ready for their review, we responded with 2 weeks. That 2 week commitment would require 12-hour days, weekends, and very few, if any, breaks for lunch. For, the strategy execution presented to the Operating Committee was the result of several weeks of number crunching, discussions, reworks, and preparation of the presentation by several analysts, accountants, and administrative assistants. This was before the advent of personal computers and spreadsheet, data analysis, and presentation software.
The Operating Committee asked the Director of Information Systems for the company if his organization could develop a program to provide the capability to develop the options within a few days. The director assigned business analysts from his group to define the program requirements and to develop and implement a solution. After conferring with the financial team, the business analysts communicated that the development and testing of the program would take 3-4 weeks. And, a longer term solution to support the business planning requirements for the group would take several more weeks. Given time requirement communicated by Information Systems, the Operating Committee decided to allow the 2 weeks to crunch the numbers.
My, how things have changed over the years. Analytical capabilities increased tremendously over the years. First came personal computers and applications such as spreadsheets, data analysis, and presentation preparation. This path continued to today’s capabilities which include integrated databases, high speed processing, high speed networks, big data and the breaking of the information glass house.
As these innovations came on the scene, the role of the financial analysts changed from valued data gate keepers and heroes who would work as may hours as needed to support the business to individuals who understood the business and how to apply data to support quick and flexible responses to business opportunities, challenges, and issues. Individuals, who did not learn the skills to adopt the innovations or how to operate in the business environment the innovations created, became obsolete. Their career advancement came to a halt. Some individuals were downsized out of organizations as the need for analysts declined.
Today’s business professionals are faced with an unprecedented rate of change wrought by the dazzling speed of technology innovation (especially information technology), the need for their companies to maintain their competiveness in a global economy, and shorter product lifecycles. Whether it is in Finance, Marketing, Sales, Manufacturing, Engineering, Human Resources, or other functions, companies must have employees who have the skills and capabilities to keep pace with or stay ahead of change. From the perspective of the employee, employees must maintain the value of their personal product (their skills and capabilities) to their companies or other companies in the employment marketplace.
Here is an idea of how you can maintain or even increase the value of your personal product. Information technology companies develop roadmaps to guide their product development to ensure that their offerings keep pace with emerging technologies and capabilities. Following roadmaps enable companies to retain customers. Roadmaps also enable companies to gain customers from competitors who do not build these technologies and capabilities into their products.
Future capabilities are often expressed as a series of versions (2.0, 3.0, 4.0, etc.).
Each version of You (You 2.0, You 3.0, You 4.0, etc.) can include skills that you will develop or acquire to maintain or increase the value of your personal product to your company and other companies in the employment marketplace. Following are actions you can take to read the tea leaves—determine which skills and capabilities you should include in each version of you (2.0, 3.0, 4.0, etc.).
- Research postings on job websites (Indeed, Monster, CareerBuilder, etc.)
- Check future skills requirements communicated by professional organizations in your field
- Network with professionals in your field who work with companies known as early adopters of new technologies and concepts
- Maintain connections with search consultants to stay abreast of the skills employers are seeking in your field
- Review curriculum at leading universities in your field
- Connect with recent college graduates from universities known as leading educators in your field
- Participate in conferences sponsored by your company’s vendors. Conferences often offer information on new techniques, concepts, applications, and tools.
I can’t change the direction of the wind, but I can adjust my sails to always reach my destination. – Jimmy Dean
Are you reading the tea leaves in your professional field or company?
Are you concerned about your fate if your company downsizes or reorganizes?
Have you established your career goals?
Do you have a plan to achieve your career goals?
Can you describe You 2.0, 3.0, 4.0?
I invite you to share your comments, experiences, and suggestions. This helps me provide information that may help you address your career opportunities and challenges.
Fields of Success offers complimentary coaching sessions. Visit the Contact page on the Fields of Success website to schedule a session.
Remember:
Our careers are our most important economic asset.
To get the most value from your most important economic asset, you must manage The Business of You.
And, it starts with your personal product.
Linwood Bailey is a career coach and the author of The Business of Me: Your Job … Your Career … Your Value. The Business of Me provides a career management process and information designed for today’s business professional. Since 2008, Linwood has enabled business professionals to manage their careers. Linwood, the been there coach, provides innovative career management solutions derived from his 34 years of experience managing functions and people in multiple industries, regions, and corporate cultures.
Founder, Fields of Success, LLC
Enabling professionals to convert career challenges into career success stories