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.
