Human Currency or Paper Currency? Creating Value in a Changing World.

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ImageHuman currency has been exchanged for decades.  The practice of exchanging human labor in lieu of cash remains a staple in many world economies.  I have to admit that I had never really considered it a legitimate practice until recently.  I found my first job when I was 13 years old and, at the time, thought that money ran the world.  It seemed logical back then.

Things changed a few years ago when I started receiving requests in exchange for services, not money.  One day, I was offered artwork for helping with a resume.  I also enjoyed a professional caliber cooked meal in exchange for consulting services.

In addition to my experiences, I have seen other shifts that indicate a possible larger-scale reliance on human currency:

1)   The evolution of supply chains:   I attended the Chicago Green Fest this past weekend and supply chains were definitely a hot topic! Job seekers are increasingly looking to work for companies that simultaneously aim to increase profits and create social value.  According to a Bain & Company survey, 2/3 of respondents said they cared more about sustainability today than 3 years ago.  This trend shows that value is no longer exclusively measured by cash.  Human currency adoption may be necessary to support this shift.

2)   Increased Social Media Use:  We have all heard polarizing testimonies about social media.  Some people love it, and others despise it.   Success in social media is based on reciprocity.  This is why, unless you are Justin Beiber, engaged users are more desirable to follow.  If you share their information, they will share yours.  Humans are the common currency in the social media space.

3)   The Rise of Micro-Entrepreneurship: Individuals are working as freelancers in record numbers.  According to the Office for National Statistics, an estimated 4.1 million workers (or 14 out of 100) are self-employed full time.   Without a huge marketing budget, human currency may be necessary for small businesses to survive, especially in their infancy.

It’s still unclear if human currency will be adopted in the US on a larger scale.   It may take some time for vast numbers of medium and large sized organizations to jump completely on the bandwagon.  Still, it’s a useful concept to apply in any environment, even on a micro level.

What are your experiences with using human currency?

What a Difference a Culture Makes

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I recently met a friend for lunch, and asked him how he was enjoying his current job he has been in for the past year.

Let’s take a step back in time. Several years ago, my friend took a job working in Human Resources for a small company that seemed liked a great place to work. But, sometimes we realize that perception is so much different than reality. 

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Do you expect more from your job than from yourself?

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Paternalism has really been on my mind lately.  In Chicago, Brian Urlacher, the prominent linebacker, was not re-signed after several years with the Bears.  He was the face of the organization and thought an extension was imminent.  Also, Groupon’s CEO, was fired from the company he helped create. “Wow.”  “How could they?”  “They need him.”  These were common public reactions.

Employment is a contract between an individual and company.  Employees are paid for services provided.  If an employee excels, they are rewarded with a bigger contract.  If not, the company considers other options.

Wouldn’t we all be happier if we approached work like our employers? Would you contract with a company that selling you a product not adding value to your life?  Would you hire a contractor that did not do a good job?

I am not saying that all of this is easy to practice but it really makes you think.  Do you expect more from your job than you do from yourself?  Perhaps it’s time for a new approach.

Prioritizing Priorities

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I love learning and reading about new innovations and trends.  My phone is filled with podcasts and you can find me listening to new information, checking my Twitter feed and downloading new ebooks in my spare time.  These activities occupy me in a typical week.

However, in the last month or so, I have felt overloaded with information. Knowing more was not actually translating to tangible benefits.  I didn’t have the capacity to apply any new information.  At times, I felt that my brain was overly cluttered, preventing the emergence of new thoughts and ideas.

Faced with this dilemma, I was especially interested in learning more about information overload and time management.  Through my research, I learned that:

  1. Successful people spend most of their time at work (and in life) helping others succeed.
  2. The average person spends most of their work time either checking e-mails or in meetings.
  3. Humans are frequently unaware of their own productivity thresholds.
  4. You really don’t have time to focus on more than 3 goals in life at a time.
  5. Most adults (especially those that live in cities) feel like they do not have enough time.

In summary, some things are just going to be huge time sucks.  You can’t eliminate all of the time wasters but you can make them more efficient.  Also, overworking has huge diminishing returns and the costs often outweigh the benefits in the long run.

Before I pick up another book or read another article that seems unrelated to my life, I will really question the value of buying or reading it.  I will also narrow my life down to focus on only three big initiatives at a time.  The last thing I really have to remember is that helping others is really valuable and prioritizing people over information definitely pays off in many ways.

“Make it Happen…” Such an Overused Phrase

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Sometimes it seems like nothing is happening at the right time. We often follow the advice of our trusted circles and they tell us “to figure out what we want and to make it happen.”  But, is this all in your control?

Take Jack.  One day, he discovered that he wanted to be to be a lawyer, applied to the best law schools, graduated and then could not find a job.  Jack becomes very frustrated because he feels like he worked hard, spent a ton of money and deserves exactly what he wants.

I know a few people like Jack and while some pursued careers in other fields, others were able to eventually land jobs in the law field.  The common denominator:  all reverted back to re-examining what they actually wanted.  Just because life wasn’t going how Jack planned, it did not mean that his career, or life, was doomed.

Our most enriching experiences are usually unplanned and unstructured.  Life is full of opportunities and setbacks so we find ourselves having to be flexible and rerouting as needed.  What I have found helpful:

1)   I first write down what I want, why, and the steps to make it attainable.

2)   When my life deviates from the plan, I think about what I need to learn.  This reflection is sometimes active and, at other times, passive.  There is no such thing as constant reflection.  Some of the best ideas come from a relaxed mind so balance is important.

3)   When things are not going how I want, I focus on activities in which I can feel some affirming progression.  Life can’t be perfect all the time, right?

4)   I try to repeat this over and over.  It takes discipline though.

My big lesson in life, there is no plan but there is a path.  Finding that path and following the twists and turns is a journey that often falls off the map.

Workplace Dilemma: Should I be competitive or cooperative?

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We all know we that we need to be competitive to survive.   Historically, if you are a business, being competitive has meant that you need to lower costs, create scaleable processes and be better than your counterpart next door.

We often individually transfer this methodology to the workplace as well.  Individually, you need to keep your skills up to date to get a job and you have to go to school to learn the concepts that lay the foundation for life.  We sometimes are competitive with our peers so that we can differentiate ourselves.  But is this the best approach?

When examining the most important skills needed to be successful today, collaboration is right up there with critical thinking, agility and flexibility.  The HBR Blog post “Collaboration is the New Competition” reiterates this.  As stated:

“Leaders and organizations are acknowledging that even their best individual efforts can’t stack up against today’s complex and interconnected problems. They are putting aside self-interests and collaborating to build a new civic infrastructure to advance their shared objectives. It’s called collective impact and it’s a growing trend across the country.”

By practicing “collective impact,” cities and networks are able to find solutions to big problems.  These dilemmas have a wide reach and include initiatives such as improving educational systems, rebuilding cities and rebuilding long-term economic impact.  Even corporations need more collaboration within their boundaries to stay competitive.

So how can we practice “collective impact” in the workplace?  Some thoughts:

  • Try to learn more about things that do not seem to directly impact you.  It builds the foundation for broader thinking.
  • Ask yourself what being “competitive” is actually accomplishing.  It’s fine to display your strengths but is it really helping the greater good of the organization?
  • Build collaborative thinking tactics into your professional and personal goals.

It seems like a new spin but it’s definitely where the world is going.  Working better means better partnership and more insight.  To be competitive is to be collaborative.

We Are All Incompetent, Right?

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If you have ever felt that your boss is incompetent or you have been overwhelmed at work or in life, then you have probably experienced the Peter Principle. This principle is often elicits humor in us and is featured in shows such as “The Office” and in comic strips such as “Dilbert.”

“The Peter Principle is a belief that, in an organization where promotion is based on achievement, success, and merit, that an organization’s members will eventually be promoted beyond their level of ability.”[1]

In other words, inevitably, people are going to be promoted into a job that is too big for them. Since its inception in the 1960’s, HR professionals and organizational psychologists have consulted organizations in attempt to minimize the effects of the phenomenon.

I have been thinking about this theory because I regularly talk to people who hate their jobs because of their bosses. Some even move to a new job to only encounter the same behaviors with a different person. So, as a worker or manager, how can you minimize the effects of the Peter Principle? Better yet, how can you recognize and use this theory to make sense of your everyday life?

First, be aware it this exists. Many times, your boss is not aware of their incompetence. If you are trapped in the situation, ask to fill in places where you can better mask his or her weaknesses. If the situation is still unbearable, try to move on but keep in mind that you may eventually end up in a similar situation.

Secondly, acknowledge that your current boss may not be your boss forever. He/she may move on or even change. Give the person room to grow. As stated, as long as you understand what is happening, things could get easier.

This principle can be applied to life as well. Life is full of surprises that are beyond our level of “competence” so, again, awareness is important. Ask yourself what you can you do to increase your “competence” to overcome these situations.

So, that’s the Peter Principle in a nutshell – a theory that broadly applies to both work and life. I would like to hear about your experiences as well.

[1] Wikipedia