Project Consulting: American Dream or Corporate Nightmare?
"America is the land of opportunity."
"Opportunity to strike it rich."
"Make it big"
"Make an unlimited amount of earning potential."
According to a study published by Duke University Kauffman Foundation and the Founder Institute, and Northwestern the average age of an entrepreneur is 40 years old. Most individuals at that age in corporate America are either in middle management or inching closer to senior leadership. It is fair to note during this age the individual has a fair amount of institutional knowledge and/or industry knowledge.
With that said; is entrepreneurship the American dream or a corporate nightmare?
Usually when a employee decides to change jobs the employer can try and save a great employee. This is done by increased pay, time off or whatever the employee needs to stay with that organization. However, when an employee has decided to make a career change into entrepreneurship most to all tactics by the employer fail.
Entrepreneurship for a person in their 40's is no light decision. Most individuals have thought long and hard about the decision. When the employee decides to notify the employer the employer is left scrambling trying to find a new employee. The departing employee is usually hard to replace because of the industry knowledge he or she possesses.
This can leave a huge hole for the organization in trying to find the right person. The right person may not be found for months or even years. This can lead to lost revenue, delays and other organizational inefficiencies.
Organizations are usually left the choice of finding a new employee or with hiring the company (the entrepreneur's company). Obviously the lesser of 2 evils is just to hire the new found company (if the former employee is worth it). This still leaves the company vulnerable because the former employee can always stop doing business with now former company.
The entrepreneur see the American dream and has the opportunity to maximize their earning potential. However; this can be a corporate nightmare because with the continued trend of older entrepreneurs leaving corporate America how can an organization combat this trend? How can corporate America "ween" themselves from this upcoming issue.
Investing in a user friendly software that allows employees to collaborate in real time is how to combat this issue. We are not talking about some type of instant messenger. What we are talking about is a lesson learned software. Lessons learned is very important to keeping track of past successes and failures. Once successes and failures captured in real time in a user friendly database this will mitigate institutional knowledge leaving the organization.
The good news is that JanusERP has a tool that can assist. Janus's Lessons Learned has user friendly charts and graphs. The Lesson Learned module allows for real time user notifications and the ability for managers to make accurate decision quickly. Corporate America now has tool that can creates a win win situation for the budding entrepreneur looking to make it big without sacrificing all of the company's critical knowledge.