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How Younger Workers Can Mentor Older Ones And Move Companies Forward

mentor

How Younger Workers Can Mentor Older Ones And Move Companies Forward

Mentoring usually refers to a manager, executive, or experienced employee guiding a younger person in the workplace, helping them acquire knowledge and new skills that foster professional growth.

But with the expanding role of technology in today’s rapidly evolving business climate, a role reversal sometimes takes place – reverse mentorship. That is, older employees are paired with younger ones who teach them about technology – a strong suit for millennials and Gen Z workers, generations who grew up with technology.

Reverse mentoring can be a plus for businesses in bridging generation gaps and knowledge gaps, and also a lifeline for older workers who otherwise might get phased out, says Rod Robertson, Managing Partner of Briggs Capital (www.briggscapital.com), international entrepreneur, and author of Winning at Entrepreneurship: Insider’s Tips on Buying, Building, and Selling Your Own Business.

“The older people better pay attention to these young people and find a mentor so they can teach them about technology,” Robertson says. “Recent studies have shown that the COVID-19 pandemic has greatly accelerated the shift to e-commerce and e-learning.

“The people who don’t climb aboard the tech train will be left behind in the post-pandemic shakeout. A lack of tech knowledge is an excuse for organizations to cut the more expensive, older people and bring in the younger talent. These young tech execs should latch onto a floundering management exec and lead them to the new world order before they become obsolete. In return, young people get access to years of wisdom, and companies can become more cohesive and efficient in the whole reverse mentorship process.”

Robertson offers these tips on how to implement reverse mentoring successfully:

Focus on a business need. What is the mentee learning the technology for? “Reverse mentorships are more successful when they focus on a broader business need,” Robertson says. “For example, a tech-savvy employee could mentor on how to use social media to generate more sales leads. The company doesn’t benefit unless the mentee learns how to develop and use new skills in concert with business strategy.”

Find partners who are a sensible fit. “An ideal mentor has knowledge or skills that you need and is willing to build a relationship with you,” Robertson says. “But can that person teach it in a way that’s fairly easy to understand? Do they listen or talk over you? You need substantive engagement and a lot of question-and-answer time without added tension.”

Be open-minded and respectful. Reverse mentoring empowers young leaders, but at the same time they can learn from and value the older group’s decades of experience. “Without mutual respect and openness it won’t work,” Robertson says. “The mentee has to be willing to go outside their comfort zone. And the mentor should respect that. Both should be tactful and patient.”

Set clear goals and expectations. “Discuss expectations upfront,” Robertson says. “Make sure you’re both committed to the process and goals are aligned. Neither of you should be too busy to meet at least once weekly. Otherwise a real teaching-learning relationship isn’t formed and too much falls through the cracks.”

Track progress. Robertson says organizations should formalize these reverse mentorship relationships and make them quantifiable. “A mentorship relationship falls short if progress isn’t tangibly measured in different stages,” Robertson says. “If progress isn’t where it needs to be, discuss new ways to achieve goals. Both the mentor and the mentee can determine where the gaps are and how to close them.

“Technology has blown the roof off the traditional corporate thinking of top-down learning,” Robertson says. “Reverse mentoring removes barriers in today’s multi-generational workforce, enhances careers, and in some cases of the oldest workers, it can extend them.”

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Rod Robertson (www.briggscapital.com) is an international entrepreneur and author of Winning at Entrepreneurship: Insider’s Tips on Buying, Building, and Selling Your Own Business. Robertson is the owner of Briggs Capital, a boutique international investment bank. He has conducted business in over 15 countries while focusing on developing small-to-medium-sized businesses and taking them to market worldwide. Robertson’s 20-plus-year career in transaction experience and entrepreneurship includes guest lecturing around the globe at institutions such as Harvard Business School and other top-flight MBA schools as well as business forums and news outlets worldwide. He sits on numerous boards, guiding firms to streamline operations and make businesses more profitable before selling.

reset

How The Economic ‘Reset’ Can Work In Your Favor

While news of vaccines on the horizon signal hope, some analysts think a sizable chunk of the U.S. economy has been damaged permanently by COVID-19, with more layoffs and business closures still to come in 2021.

But to others, the future of a “new economy” in the post-COVID world is bright, opening doors for entrepreneurs, working professionals and small-to-medium business owners, says Rod Robertson, Managing Partner of Briggs Capital (www.briggscapital.com), international entrepreneur, and author of Winning at Entrepreneurship: Insider’s Tips on Buying, Building, and Selling Your Own Business.

“While about 40 percent of the American economy has been turned into debris, the playing field has been cleared, and the whole business environment has gone through a reset,” Robertson says.

“At the same time, people who upgrade their skill-sets and broaden their thinking won’t be left behind. So instead of people saying, ‘How lost I am, how crushed I am, woe is me,’ this is an exciting time, especially for young people, who don’t have to wait for 10, 20, or 30 years for their turn to be a business leader. They can make a generational jump by stepping up and embracing technology, and by understanding in the rubble and chaos what kernels of business are sprouting up.”

Robertson says these points are worth considering when planning for success in a changing U.S. economy:

Don’t buy the theory that COVID will destroy entrepreneurship. “It’s a great time to invest in or buy a business because the playing field has been reset,” Robertson says. “There is going to be a whole new generation of fortunes made in the next three to five years. These are small businesses, companies that are nimble and can shift easily.”

Investment in tech is trending. Robertson notes that over $50B has been spent by private equity on tech deals in 2020. “This fact dwarfs the issues that have swamped legacy or regular businesses that have seen a huge retraction in investments,” Robertson says. “The pivot to tech has accelerated and beware those firms that cling to their old ways of doing business.”

Make the necessary cuts and stay streamlined. “Seismic shifts are coming in 2021 as companies prepare for the new world economy,” Robertson says. “Some businesses must make drastic cuts and changes in directions. Pivot quickly and don’t be among the last firms to embrace change; it could be your demise. It is more important than ever to streamline operations and create an implicit trust with employees to ensure your business thrives in the post-pandemic world.”

Remote workers can’t afford to coast. report on remote work productivity during the pandemic found that global productivity among employees working from home due to COVID-19 has dropped. “U.S. employees are leading the pack both in terms of the amount still working remotely, and productivity declines,” Robertson says. “Salespeople without direct supervision aren’t producing like they used to. Remote workers who are coasting need to get in tune with their organizations to keep their jobs.”

Going solo isn’t a bad thing for boomers. Robertson says older workers who may get displaced can make the most of opportunities to fly solo. “The people over 50 and 60 are not grasping technology,” Robertson says, “and a lot of them are going to be pushed off the playing field. How do they switch to being an independent contractor, and stretch out their working years to 70-72? It’s time to reinvent and reinvigorate themselves.”

“Businesses and their best workers must shift with the times or invite extinction,” Robertson says. “The good news is, the reset opens great new opportunities, and people can take the blessing coming from all this chaos and turn it into business success.”

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Rod Robertson (www.briggscapital.com) is an international entrepreneur and author of Winning at Entrepreneurship: Insider’s Tips on Buying, Building, and Selling Your Own Business. Robertson is the owner of Briggs Capital, a boutique international investment bank. He has conducted business in over 15 countries while focusing on developing small-to-medium-sized businesses and taking them to market worldwide. Robertson’s 20-plus-year career in transaction experience and entrepreneurship includes guest lecturing around the globe at institutions such as Harvard Business School and other top-flight MBA schools as well as business forums and news outlets worldwide. He sits on numerous boards, guiding firms to streamline operations and make businesses more profitable before selling.