Why we need to take scientific predictions seriously.
The crisis that we’re experiencing now was reportedly predicted 10 years ago by Peter Turchin, researcher at the University of Connecticut.
He used a computer model of past uprisings and economic factors including “declining wages, wealth inequality, exploding national debt and other social pressures that affect national stability”.
Unfortunately, it could get worse before it gets better if the underlying issues are not properly addressed.
Professional economists are writing prescriptions for how to address the issues. The only the question that remains is whether there will be enough political will to make the necessary changes.
Good Economics in Bad Times is worth your time to read this summer if you only have time for one book. It does a good job of touching on all the underlying issues and will give you a good foundation for evaluating the 2020 political platforms.
The role for business
Reflecting back to my own professional journey, it offers some insight into what leaders could be doing now to relieve pressure.
1/ Invest in your staff and community
If you believe jobs are the cornerstone of success, back it up with the training your staff needs now to be more successful in their job. Create pathways for continuous growth and opportunity.
2/ Address the impact of automation
There is a human impact when jobs are automated that shouldn’t be ignored. Create a transition plan to minimize the negative impact to staff and society.
3/ Invest in relationships
Relationships with business partners and vendors are important. As healthcare becomes less transactional, relationships with healthcare consumers will become even more important. Create a strategic plan to foster trusting relationships with all stakeholders.
Pressure vs Stress
Pressure is a healthier form of stress because relief is actionable and the discomfort is temporary. Push people beyond their limit and the pressure turns into toxic stress.
As a consultant, the pressure within an organization is something that I can feel right away. It’s clear to me that we have too many people working beyond their limit.
With the increasing number of deaths of despair and related mental health issues, leaders need to make fundamental changes to reduce the stress level in their workforce. New perks are not the answer.
I am participating in an online meeting for the Uniting our Voices film next Sunday. Click the link if you want to participate and get more insights.
There will be no Rush Weekly for the next two weeks. I am taking time off to recharge. I hope you all have a lovely holiday.