RW 009 - From Midlife Crisis To Midlife Chrysalis
Welcome to Reimagining Work where we challenge assumptions about what work can, and should, be in our lives.
Did you know the future of work is about more than just technological advancements?
It’s also about creating healthy connections between people and work that lead to fulfillment and meaning.
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In each edition of Reimagining Work, I’ll share content that’s concise and challenges common assumptions concerning the future of work! The formatting and structure are consistent each week with unforgettable segments like:
Perfect Labor Storm ⚡️
Jaw-dropping data and trends around the future of work
Weekly Connection 💡
The most important learning or unlearning from this week
The Prescription 💊
Tips and recommendations
TL ; DR (Too Long; Didn’t Read) 🔎
Bullet point summary of key takeaways
The Journey Ahead 🔮
What’s coming soon
Let’s begin!
Perfect Labor Storm ⚡️
While younger workers may have initially fueled "The Great Resignation," there's evidence older workers are joining as well. The number of resignations among the age 50 to 60 cohort grew 34% in the first quarter of 2022 from the prior year, per a Vox analysis.
Others have left jobs in the middle of their careers to seek out better pay, work-life balance, or start their own businesses. The same Vox analysis found a 57% uptick in resignations from employees that had worked in their previous roles for 10 to 15 years.
According to a new working paper published by the National Bureau of Economic Research, which documents a "crisis of midlife" in rich countries. Along with a decline in basic measures of life satisfaction, the researchers found middle-age upticks in intense job strain, suicide, sleeping problems, alcohol dependence, and extreme depression, among other factors.
Gallup’s 2022 state of the workplace survey data indicate:
Stress among workers reached an all-time high again - 44%, 40% are worried, 21% are angry
3 out of 10 are engaged and thriving in their overall wellbeing, 49% are not thriving and NOT engaged; 16% of this latter group has health problems.
low engagement costs the global economy US$7.8 trillion and accounts for 11% of GDP globally.
Gallup’s analysis of 112, 312 business units in 96 countries found a strong link between engagement and performance outcomes, such as retention, productivity, safety and profitability
Weekly Connection 💡
Wisdom is metabolized experience that leads to distilled compassion.
Chip Conley
As we move through life, many of us experience a sense of restlessness and uncertainty as we approach middle age. This is often referred to as a midlife crisis, a time when we question our purpose and direction in life.
But what if we could move beyond this crisis and find a new sense of purpose and meaning in our lives?
The key to this is to understand that our midlife crisis is not a destination, but rather a stepping stone towards a new chapter in our lives. It's an opportunity to re-evaluate our values, passions, and aspirations, and to create a new vision for our future.
In January of 2023, we had the world-renowned Modern Elder - Chip Conley - on Geeks Geezers Googlization to tackle this topic head on and understand what it means for people and the future of work.
He suggested that rather than labeling this period of life as a crisis, we should think of it as a chrysalis, the metamorphosis stage in a butterfly's life cycle. Much like how a butterfly transforms from a caterpillar to a butterfly, midlife is a time of change and growth, a time when individuals can shed their old selves and emerge as something new and different.
He encouraged us to embrace the opportunities that midlife presents, including the acquisition of new skills, the pursuit of new interests, and the chance to give back to society.
And believe it or not, older millennials are now approaching this phase of life!
But how we evolve during midlife not only impacts our personal lives, it also impacts the future of work.
We are currently part of a diverse and dynamic workforce that includes five generations. This presents both challenges and opportunities for intergenerational collaboration and learning. Each generation brings its own unique perspective, skills, and experiences to the table, and by working together, we can create a more innovative and productive workplace.
And consider this…
It’s very likely in the next 5 years that AI agents will also be part of the teams in which you work, which will add another layer of collaboration with advanced technology.
This means that moving forward, we must create more opportunities for intergenerational mentorship and learning where employees are encouraged to take risks together, explore new ideas together, and learn from their failures as well as their successes.
By working together across generations and cultivating wisdom in the workplace, we can create a more vibrant and fulfilling future for ourselves and our organizations.
Here’s a little about Chip Conley before you check out his episode below:
Among Chip’s many accomplishments, he’s the CEO and Founder of Modern Elder Academy - the world's first "midlife wisdom school," where attendees learn how to repurpose a lifetime of experience for the modern workplace. He’s also a NY Times best selling author including his most recent book, "Wisdom@Work:
He also joined the (at that time) tiny tech start-up Airbnb nearly a decade ago and served as their Strategic Advisor for Hospitality & Leadership until March of 2021. He was twice the age of the average Airbnb employee which earned him the title "Airbnb's Modern Elder" who was as curious as he was wise. As the internal mentor to Airbnb CEO Brian Chesky, Chip got to see the value of intergenerational collaboration in what has now grown to be the most valuable hospitality company in the world.
📺 Watch the full episode on Youtube below:
🎧 Or listen to the full podcast episode on your favorite audio platforms:
Here are just a few of the connections and insights Chip shared on midlife wisdom, intergenerational collaboration, and purpose in the workplace:
Topic 1: The importance of the third act of life
Longer life expectancy has extended the traditional three-act structure of a play to possibly four acts
Third act in life, usually after retirement, has become more significant
Third act is an important period where people can apply their learned wisdom to new industries or situations
Topic 2: Transferable skills and the Modern Elder Academy
"Same seed, different soil" means applying skills and knowledge from one industry to another
Modern Elder Academy helps older individuals acquire skills needed to enter the workforce
Topic 3: Defining wisdom and seeking relevance
Chip’s definition of wisdom: "metabolized experience that leads to distilled compassion"
A mindset of seeking relevance rather than reverence can make the world a better place
Admirable leaders show their values through actions, helping others find their calling and purpose
Topic 4: Age diversity in the workforce
By 2025, the majority of Americans will have a younger boss
The largest labor force increase since the Great Recession is coming from baby boomers who are choosing to stay in the workforce longer
Age diversity in teams is beneficial; young brains are fast and focused, while older brains have crystallized intelligence
Intergenerational collaboration leads to psychological safety and successful teams
Topic 5: Midlife chrysalis and transformation in midlife
Evidence of a crisis of midlife in rich countries
49% of employees are not thriving and not engaged
Midlife is a transformational stage, likening it to the chrysalis stage of a butterfly's life
U-curve of happiness shows that on average, life satisfaction is lowest around age 47, but steadily increases after age 50
Topic 6: Mutual mentorship and the Modern Elder Academy
Creating mutual mentorship is important for learning and development in companies
Companies can use matchmaking technology to facilitate mutual mentorship relationships
Over 15% of the attendees of the Modern Elder Academy are millennials
Topic 7: Chip Conley and turning midlife years into a calling
Chip emphasized the value of intergenerational collaboration in creating the most valuable hospitality company in the world
Stress and burnout can happen at any age, but midlife can be particularly susceptible
Learning to let go of things that are no longer essential is crucial to avoiding stress and burnout in midlife
Modern Elder Academy helps people distill their life experiences into key commitments and gifts to offer others
The Prescription 💊
Here are the doctor’s orders for instilling workplace wisdom and intergenerational collaboration:
Get Chip Conley’s book: Wisdom At Work: The Making Of A Modern Elder
Check out Chip’s wisdom school: Modern Elder Academy
Encourage Communication:
Encourage open communication between different generations, which helps to bridge gaps in communication styles and values. This can be done through regular team-building activities, informal conversations, and mentoring relationships.
Recognize and Value Differences:
Recognize that each generation brings different perspectives, values, and communication styles to the table, and value these differences. This can help to create a more inclusive and diverse workplace.
Provide Opportunities for Learning and Growth:
Offer training and development opportunities that cater to different learning styles and preferences. This can help to foster a culture of continuous learning and growth for all employees.
Leverage Technology:
Leverage technology to help different generations communicate and collaborate more effectively. For example, use social media, instant messaging, or video conferencing to connect team members who may be working remotely or in different locations.
Establish Common Goals:
Establish common goals and objectives that all team members can work towards, regardless of age or experience. This can help to create a sense of purpose and shared vision, which can motivate and inspire team members to work together towards a common goal.
Create a System of Mutual Mentorship:
Both parties act as both a mentor and mentee at the same time.
TL;DR (Too Long; Didn’t Read) 🔎
By 2025, most Americans will have a boss that is younger than they are
For the first time in modern history, we have 5 generations in the workplace
Many folks in mid-life are experiencing numerous existential threats cursing them to ponder deeper questions about life and work
Midlife is often the most opportune time to learn new things and make transitions
Organizations can help their people navigate all of this change, including challenges in midlife, through supports such as mutual mentorship and intergenerational collaboration
The Journey Ahead 🔮
2 popular podcast universes are colliding in Indianapolis on May 1st at 12:00 PM ET!
We’re stoked to join our friends at Chad & Cheese for a livestream on everything, everywhere, all at once with the future of work!
If you’re in the Indy area, please get some lunch and grab a beer while you join us at the legendary Rathskeller!
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