Are Jobs the New Assets?

Time Magazine, along with other media giants, deserves credit when they get our attention.  After all, isn’t that what communications is all about?  In the March 23 edition, the headline read “10 Ideas Changing the World Right Now.”  I looked at the headline curiously, wondering if the ideas would solve all of our economic issues or if they were just speculative enough to prompt further analysis from experts and amateurs.  If you are curious, check out the article to see where it leads your thinking—here is a link.

At the top of the list, Number 1, was this:  Jobs are the New Assets.  Was this supposed to make us feel better about the dwindling property and investment values we see around us?  Or was this a step toward some economic theory about human capital?  Maybe it’s a little of both.  It’s probably time to get out your Econ 101 book and revisit the section dealing with human capital.

The idea deserves merit.  Jobs define us, they give us an identity.  No longer will I look at my balance sheet for purpose in my life, I will look at each day with a job as something precious.  Is this too much a short-term perspective?  No, I think this thought contributes to the long-term notion that jobs represent the best assets a company holds.  If you have jobs, you have production.  If you have jobs, you have billable hours.  The corporate world lacks this long-term perspective when it rewards risk-takers with large bonuses at the expense of a steady, perhaps slower view that rewards dedication, dependability, and long-term value building.

Part of the next generation’s challenge with jobs will be to protect their human capital.  Don’t overlook the fact that skills require development.  Education helps.  An apprenticeship makes sense.  You can’t sit around in coffee shops day after day and expect to develop your human capital.  Get up and get moving toward some vocational outlet that intrigues you and maintains your interest.

Another thought about protecting your human capital’s worth:  stay healthy.  Years of smoking and drinking age you quickly.  Look at someone who does this stuff for 20 years and you’ll see the wear and tear on their physical bodies.  The scary part is not what you see, but what you don’t see.  Statistics from the Urban Institute in early 2009 show that about a third of all Americans develop some health-related limitation in their fifties and sixties.  As a result, many workers do not retire on their own timetable.

Some of the next generation seem to think they can ignore healthy habits.  It is strange, but many of those who call themselves “green” and seem more concerned about global warming than they do their own bodies probably lead the way in unhealthy habits.  The “greenies” tend to ignore their need for rest and use drugs and alcohol like they are necessary parts of a balanced diet (please excuse this short rant).

So, if you are your best asset, take care of yourself.  The next generation awaits.

Thinking About Fertility Rates, the Economy, and the Next Generation

A factor that gets little attention in the press today is the relationship of fertility rates to the economy.  This point struck a chord yesterday when I had the opportunity to hear economist Stuart Varney address a gathering of near 1000 accountants and financial professionals in Atlanta. With a bit of humor and unsettling reality, Varney explained why he thinks the fertility rates of the world should be of top concern.

A little background here—for a country to merely remain even in terms of population, it requires a fertility rate of at least 2.1.  There are 45 countries in the world that are well below this rate.  These countries include much of Europe, Russia, China, and Japan among others.  Translated, this means that population growth is negative for these countries.  The U.S. maintains close to a fertility rate of 2.1 only because of the number of immigrants here.  Of all the countries, the lowest fertility rate according to one report I read was in Spain, which was near 1.15.

Think this through with me for a moment in relationship to the economy.  An older, graying population that is living longer these days will need healthcare, housing, pensions, and other retirement benefits.  The model for providing these needs includes economic input from the younger generations.  If the populations are declining, who will help fund these needs for the older generation?

The governments think they can help. But again, with declining populations the tax rates must be much higher to even make a dent in these needs. Today, the governments sit in the unenviable position of trying to figure out the current economic crisis and it appears they struggle each day to fix on a strategy that is elusive.  The quest for a solution lingers no matter what is done.

When I observe the next generation, I see a generation less concerned with wealth creation and more concerned with solving the world’s issues.  I might suggest to them that the economy is one of the single-most important issues.  This is not to say that we want to preserve certain negative aspects of wealth creation, but that we want to consider how wealth creation enables us to address some of the other issues we face. I would ask, “What are the positive aspects of wealth creation?” This might help us adopt a better way to solve economic issues while at the same time addressing other complex issues.  The world is changing, and the next generation needs to be in a position to wisely lead when the baton is passed.  Let’s make sure we help them understand the times and extend ourselves as counselors and mentors.

Wealth Transfer and the Next Generation

From time to time I enjoy hearing the advice offered to the general public by various wealth managers.  It is instructive to hear their views on the basics of wealth management, but further to hear their views on the values of the wealthy and how they handle their wealth in light of these values.

I must give credit where credit is due for getting me on this topic.  In my rapid perusal of current business news, I ran across an older video of an interview with wealth manager Stuart Lucas on the Business Week website.  Lucas is one of the heirs of the Stuart family, whose patriarch E.A. Stuart founded the Carnation Company.  Due to this connection, Lucas actively manages the wealth for at least 18 of the heirs and provides advice to many others.  He has written the book Wealth: Grow It, Protect It, Spend It, and Share It.

One of the issues that Lucas runs across in managing the wealth for this family fortune is teaching everyone to have a concern for their next generation of heirs. In particular, if the values of the family are not passed on along with the money there will be potential problems with the future value of this fortune.  Passing money on to the next generation without passing along sound values could cause adverse effects according to Lucas.

Let’s think together–how do we transmit values to the next generation? Is this not the number one question anyway? Many times among Believers we share a concern for passing along solid values to the next generation, but do we really focus on doing it?  It is a challenge that we must bolster up and address.

It would be interesting to poll some of the younger generation to see what their perspectives are on wealth. Perhaps that is what Jesus was doing when he encountered the rich young ruler as recorded in Matthew 19:16-22.  Through this interaction, Jesus got to the heart of the matter when He encouraged the rich young ruler to consider the poor, thereby laying up treasure in heaven. Then He simply ended by saying, “Come, follow me.”  This produced sorrow in the young man’s heart perhaps as he realized what values he held in his own heart and how he could not get a perspective on a future generation that could benefit from his fortune.

This angst is not the value I want to pass on to the next generation.  We must set ourselves free from the love of the world and its passing treasures, and to pass on eternal values as we teach stewardship principles to the next generation. Investing in eternity is part of God’s plan for us and the next generation.

Faith and Governance: The Roles of the Ministry Board

Wisdom. Dedication. Leadership. Advisors. These are all terms commonly used to describe nonprofit board members. And all of these terms are applicable and relevant. But what about board members of the average nonprofit ministry? Is there one role that is more needed or desired over another? Or should other roles be added to the list?

To start, ministry board members play a unique role that contrasts with the secular nonprofit boards. Ministry board members are involved in spiritual work, that is, the mission of their organization takes its lead from the Lord and so all that comes under the heading of the organization is subject to the Lord’s leadership. This may sound overstated, but you might be surprised at how some board members of Christian organizations forget their spiritual roles.

Yes, there are common obligations for both secular and Christian boards. For example, board members have responsibility for the organization’s mission and strategic direction, for ensuring its fiscal health, for hiring and evaluating an executive director, for being an advocate of the organization, for making and monitoring policy, and for developing resources. In the Christian organization, let’s add to the list these items: ensuring the witness of the institution, promoting a Christian worldview, maintaining standards based in Scripture, and keeping the organization accountable to God.

Ministry board members have a double dose of responsibility. One thing is certain–continued success for the ministry depends on regular prayer and seeking the Lord’s direction above all else. Board members should not take this role too lightly. Spiritual direction is key and should drive all other decisions of the organization.

This spills over into developing support for the ministry. Board members must view fund-raising not as a transaction, but rather a chance to be involved in the transformation of the giver. When we understand that God owns it all and that we have a duty to be good stewards of all entrusted to us, it becomes exciting to be involved in the asking process. This is a direct invitation to lay up treasures in heaven, to have something credited in heaven to the giver’s account.

As ministry board members grab hold of the transformation process and realize the significance of their roles, they will be better equipped to exercise faithful leadership for the organizations they serve.

Does God Want Me to be Rich?

I have wanted to comment on this for some time now, so now that we are mired deeper in this economic dilemma I have returned to an article on the ministry of Joel Osteen, “God Wants Me to Be Rich,” from the August issue of Conde Nast Portfolio.  Can everyone say, “prosperity gospel revisited?”

They are really packing them in at Lakewood Church in Houston.  Over 40,000 regular attendees swoon over the words of their “Reverend Feelgood” and why not?  Most of those regular congregants face high gas prices, swollen credit card balances, possible mortgage issues, and job insecurity.  We deserve to hear a great message of hope, to hear what we deserve, to hear an encouraging word on our situation.

But a closer look may reveal that Americans still look to Scripture for answers, especially to those large questions about their finances.  This is good—God wants us to look to Him for answers, for help, for trust, for mercy.  These represent those attributes of our Heavenly Father that make us run to Him over and over again through life.

Can one man soothe the suffering?  Does Osteen bring anything new to the plate that helps us understand the care of our Lord in these troubled times?  We might want to examine closely the words of all of our spiritual leaders as we move through this part of history together.  Do they invoke Scripture as support for their position?  Do they defer to the masses over tricky doctrinal issues that deserve closer attention?  Are they avoiding the issues in order to remain popular?

One thing for sure—many of our spiritual leaders today have perfected their “branding.”  Osteen made his brand the “inspiration brand.”   I am waiting to hear from someone who says he has been “branded by God.”

The next generation deserves better and we must encourage them to embrace a biblical perspective on the economy and their personal financial situation.  It seems easy to talk about what we deserve; it is harder to talk about what we should give up for the sake of the Kingdom.

Generational Trends in Giving to Religious Causes

By far, the largest amount of charitable giving in the United States on a year-by-year basis is to religious causes. So, should we be concerned if we see shifts in certain factors surrounding this area of philanthropy?

Maybe so. The alarm sounded with the recent release of a study by the Indiana University Center on Philanthropy indicating generational changes in giving to religious causes. The story goes like this—baby boomers give less to religious causes than their parents did when they were the same age, and members of Generation X give even less. Accompanying this trend, younger people attend religious services less than their parents or grandparents. According to the study, the decline in giving may result from the decline in attendance at religious services.

Believe it or not, this is a trend that all charities watch. The reason—givers to religious causes tend to give to more groups of all kinds. If giving to religious causes declines, a potential shortfall results in giving to other groups as well.

Another barometer to watch is the annual report on philanthropy called Giving USA. Here we see that total dollars given to religious causes increased over the past 40 years, but expressed as a percentage of total giving in the U.S. religion’s share has fallen from near 46% to 32%. In fact, giving to religious organizations showed the lowest growth of all the many subsectors of charitable giving.

So, what’s up? I’m not an expert, but there are some concerns that I think we all as ministry leaders and believers should try to remedy.

First, I wonder if we have gotten away from the biblical view that possessions play a role in our spiritual development. Scripture makes it clear that the way a believer handles their possessions reveals much about their hearts. Are ministry leaders preaching and teaching this? Some may say “yes” but some also have embraced such a seeker-sensitive mindset that they might be afraid to emphasize stewardship with their congregations or supporters. As put in a new book edited by Wes Willmer, Revolution in Generosity, ministry leaders may focus on the transaction with the believer rather than on the transformation of the believer when they give. Transformation should be the focus.

Next, I wonder if all these years of capital campaigns and stewardship drives are catching up with us. When the church or a ministry spends a great amount of time in this mode, it causes the preacher and other leaders to behave like development officers of a large nonprofit organization. This could de-emphasize the biblical message about stewardship to the detriment of the long-term development of devoted stewards. The bottom line is that ministry leaders should stick to teaching what the Bible says about stewardship, about the transformation of the heart that reflects where we are in our relationship with our Lord. This is a sure way to make an impact on the finances of the organization.

Finally, I hope we can address the generational issues that are sure to arise regarding stewardship. Are we teaching biblical concepts of stewardship to the younger generations? Is there a difference in how these generations behave in giving because they have more demands for their income? I thought God demands it all, because it is His anyway. There is an upcoming generational shift of resources that will be huge according to current research. Are we showing these younger generations how they can make an impact for Christ now and how they can lay up treasures in heaven? The next generation, and the generation after that, will reflect the values that we have left them and that we have taught them. It is time for ministry leaders, church leaders, and mature Christ followers to take the lead in conveying biblical stewardship to the next generation.

Let’s practice what we preach.