Fertile Seeds on Fallow Fields

The economic meltdown we’ve experienced has claimed many victims. Too many. Those who hadn’t developed a savings habit. Those who were, and perhaps still are, heavily leveraged. Those who may be nearing retirement and find themselves with insufficient income generating assets to enjoy the “golden years”. Anyone finding themselves in these situations has felt the impact of gyrating equity markets and potentially declining net worth statements. Not good.

But consider for a moment, those who haven’t yet had a chance to develop a savings habit because they haven’t entered the workforce. Or those who haven’t yet built a material financial net worth because their skill set is still being developed. I’m talking about those who are still enrolled in college or university. Our future leaders.

One of my greatest fears about the “collateral damage” this downturn will leave us is the lack of opportunity awaiting this year’s graduates, and perhaps those who will finish in 2010 or 2011 or beyond. At the very time these young people could be forming work habits, forging commercial relationships, and gaining new skill that will serve them well for decades to come, employment prospects are dim or vacant.

Imagine this situation continues for another few years, as some pundit’s claim it might. Organizations, in the name of cost containment and possibly survival, are almost certain to curtail their graduate intake or internship programs. Succession gaps will form at lower organizational levels that initially won’t have major impact. But looking ahead a few years, those who would otherwise represent succession for more senior opportunities, simply won’t have the experience to tackle these challenging roles. If we’re concerned about leadership identification now, consider what it could be like then.

We collectively own a responsibility to ensure today’s fertile seeds don’t simply lie dormant on the fallow economic fields created through this ruin. To idly let this happen would be the greatest the loss of all.