FLEXIBILITY FOR SENIOR PROFESSIONALS
Most of the focus on flexible
work arrangements in organizations has been on the younger and mid-level
professionals and those with children at home. However, increasingly,
the large baby-boomer generation and the "veteran" generation
before them desire to ease off while still staying connected to meaningful
work for either psychic gratification or economic reasons. Firms need
to be thinking about building in flexibility for them as well. There
is a solid business case that benefits both the organization and the
individuals.
Take a look at your seasoned
people. Most of them are not "dead wood," but rather after
years of intense work and a stressful lifestyle, some of them may be
looking for a change and they appreciate rewards other than money. At
the same time, they may be reluctant to walk away from the ties to the
firm, feeling of being useful to a business enterprise, and problem
solving challenges that have been part of their lives for so long. They
may be as young as 50 or as old as 75, but they are not ready to embrace
the concept of retirement. They may be looking for more time for themselves,
more connection to family and care for elderly parents, or the gratification
of passing on their wisdom to the next generation. Why lose them? Why
force them to make an all or nothing choice?
So how can those senior professionals
help the firm and fit into what many firms see as a "one size fits
all" environment? First of all, this is not really a radical notion.
Many firms have flexible arrangement for senior professionals who have
adjunct teaching positions or who are big name draws with political
connections. According to a Harvard study over a 60 year period of 1,400
elderly people (reported in "Aging Well" by George Vaillant),
older workers who are happiest and most productive chose work that provides
them the opportunity to be creative and to make younger friends. Assuming
basic needs are met, those factors are more important to workers age
55 and up than dollar income the study concludes.
Some of the non-traditional
arrangements that have worked for senior professionals in firms and
the corporate world are:
- Performing intense project work for
a given amount of time, followed by a break of one to several months
before embarking on the next intense project.
- A major role in mentoring and training
junior professionals together with maintaining long-time client
relationships and hand-holding.
- Maintaining the firm's visibility
and external relationships as an active member of community, professional
and charitable organizations and boards.
- Writer and/or speaker contributing
years of accumulated wisdom and experience of the firm's marketing
efforts.
Each of these arrangements
provides solid contributions while permitting the individual to cut
back from a highly pressured daily work life and enables the firm to
reduce compensation.
Below are some of the factors
for a cost/benefit analysis to include flexibility for senior professionals
as part of your flexible workplace culture.
Costs
to the firm:
- Administrative process for handling
non-traditional scheduling, roles, and compensation
- Office space
- Loss of some of the billable hours
they would have provided if they were willing to remain as full-time
fee-earners
Benefits
to the firm:
- Retaining talent and connections
to clients
- Institutional memory
- Decreased compensation costs
- Opportunities for mid-level professionals
to take on more responsibility
- Succession planning and a transition
period to smoothly transfer client responsibilities and relationships
- Greater enthusiasm and productivity
during the hours these senior professionals work
In order to make "non-traditional"
arrangements work successfully, in addition to developing the individual
details and logistics, two attitudinal aspects need to be addressed.
First work expectations other than compensation on the part of the individual
senior professional as well as the others in the firm directly affected
must be identified and communicated. What is highly important to them
in their work environment, and how can these expectations be fulfilled?
(An assessment tool we use can help identify them and structure a way
to manage them.)
Secondly, there is the issue
of getting over defining success as an all-out, 24/7 effort as well
as making more money (as an individual) every year. If other important
aspects of personal success based on individual goals and desires are
given greater respect in the workplace culture, more people will feel
successful and fulfilled.
Incorporating flexibility
into workplace culture and organizational structure makes good business
sense in tight economic times as well as more prosperous times - maybe
more so. The firm reaps cost savings on compensation. It is a way to
cut back some high salaries in areas of practice that are languishing
in a down cycle without losing the expertise and client connections
at a senior level. Seniors with strong loyalty to the firm may relish
taking part in creating a culture representing values they have come
to appreciate and felt were lacking at their firm.
© Phyllis Weiss Haserot,
2002. All rights reserved.
This article will appear
in a forthcoming issue of Law Practice Management, a publication of
the American Bar Association Law Practice Management Section.