“We don’t have what we need anymore because of changes made years ago. For example, an auto insurance company now has to relocate auto mechanics to various states because many of those states have taken away vocational/technical education programs. The insurance company is now responsible for providing members with certified service locations, except those locations just don’t have the same pool of talent to hire from. So they relocate mechanics. It’s changed the business.”
Pardon me for a fuzzy memory, but I can’t quite remember where I heard or read this story. I just remember thinking: Wow…talk about lack of long-term-planning. Except who’s at fault?
In reading Chip and Dan Heath’s Switch, one story included the idea of switching from short-termism to long-term thinking. Apparently, we have a lot of barriers to keep us from focusing too far into the future. In the book example, companies that have to report to stockholders do quarterly estimates…meaning that they can really only focus quarter to quarter.
I admit for myself that I really don’t think long-term at all. My journey to get into graduate school was a nine-month process, and I’m not sure how I actually managed that. If you break down a big goal or a vision to the future into smaller pieces that are easier to accomplish, it does become more manageable.
But what if you can’t even consider what people are going to change around you?
The insurance company probably had some idea that limiting VoTech programs would have an impact on future talent, but did that mean they knew 10 years ago they’d be relocating mechanics across the country? Probably not. And if they did, would it have made more sense to sponsor VoTech programs to begin with?
I’ve probably said it a number of times, but companies need to see the play. It’s like chess: being able to calculate the end of the game based on an early move. Many of us just can’t do that.
In the next few months, I’m going to challenge myself to start thinking about plans for the long term, not just the short. I may not need to worry about auto mechanics, but if I want to take over the world someday, I should make sure I get the skills I need.
I challenge you to do the same thing:
Think Long-Termism!
Photo credit.
Thought-provoking post Emily. I only partially agree with what you’ve written here. In any business, in any given economic scenario, there will always be a whole host of things that the organization can never predict or anticipate. And shutting down of VoTech programs is one example. For e.g. changing immigration laws that led to a reverse brain drain in the IT sector, or a sudden spike in sugar or tomato prices, or changing consumption patterns due to increasing media coverage on healthy living. And history has shown that only those companies that rapidly adapt to such massive and significant external changes have become successful.
On the other hand, there is a different category of problems that companies DO anticipate and plan in the long term for. For e.g. An expiring product patent, or changing demographics and hence the need to bring in a younger work-force over a period of time to replace retiring senior management, or changing business operations to use lesser fossil fuel.
Hi Sabera, swift adaptation for immediate changes is something that helps bring out resilient companies on top, we saw that with the recession. It’s probably the smaller changes here and there…for example, are media companies thinking about the lack of arts education affecting a talent pool in 20 years? I don’t know. Maybe the best are, and that’s why they will be the best. Companies in survival mode are probably only thinking about tomorrow. Thanks!
I like this thinking- a few months ago my friend told me she had her five year plan and that’s when I realized I’ve reached that age where we no longer exactly know what’s next in our lives…
.-= Dmbosstone´s last blog ..Working At Your Dream Job =-.
Hey there! I know what you mean. I have a really hard time with the “where do you want to be in 10 years” question. I just can’t be very specific. I would like to, though. I spoke with Penelope once, and she told me my severe flexibility for the future means I’m not committing to something now. Yes, you can change, but we do need to think about plans in many cases. I’m hoping school will really get me going in that direction.
(if there is a will there is way) although future is unknowen,always science is king
I think not thinking long term is what keeps businesses only functioning quarter to quarter. By not taking a peek at the job market or even the industry you are in, you are left behind or with a lack of employees.
Personally, thinking long term is necessary. I need to think about what is working in my profession and what isn’t. By staying at least on the curve or a little ahead I am able to keep my whits about me.
Quarterly focus is exactly how the Heaths put it! I know we’re almost monthly around here. It’s hard to think beyond the end of a billing cycle. On the personal note, I’m with you: you almost feel more flexible if you’ve planned ahead.