WORKSHIFTER - Dispatches from the New Executive Frontier

Back in May I blogged about the fact that the workforce still needs the working retired. Dana Mattioli’s story in last week’s Wall Street Journal, Help Wanted: Senior-Level Job, Junior Title, Pay is a similar topic, but it took a much different perspective.

Mattioli notes that “Companies…aren’t eliminating positions entirely, but are combining a mid-level position with a more junior one -- then advertising it as a junior slot and offering a lower salary.” With the struggling economy there is no question that businesses need to make adjustments across the board. What complicates things from an employment perspective is that while there are many different levels of experience in the workforce, there is a lengthening leadership gap resulting from 77 million people approaching retirement with only 40 million behind. This fact alone is forcing companies to promote people into leadership positions before they are ready and this is expected to continue through 2030.

As I have said before, hiring project based employees at a variable cost is effective and efficient because it allows a business to complete vital initiatives at a variable cost. In addition, businesses should begin to think about how they will fill the leadership gap most effectively because if they don’t—they will be hit with an even bigger financial crisis in the long term.

It cannot be denied that the value of executive coaching in leadership development has been well established for a long time. However, the aforementioned market conditions are forcing companies to look for a new kind of coach...more of a business mentor.

Mentoring in this way will help the more entry-level executives realize their full potential as quickly as possible and it will also allow companies to find innovative ways to expand a leader’s capacity to achieve both short term and long term business results.