I recently sat through a Data Science class that Casey Lichtendahl (Darden School of Business, University of Virginia) was teaching to second year MBA students when I found myself reflecting on the skill gap that exists today. The gap I’m talking about is between the newly educated and those educated back in the last century. In this one class session, Lichtendahl’s students were programming in R to conduct sophisticated analyses regarding the 2012 presidential election results and then using Tableau to effectively present the insight.
As I sat in Lichtendahl’s class and thought about the articles bemoaning the lack of analytical acumen among employees, I began wondering if the problem is at the middle and top of firms – and not at the bottom with the newly educated. I have some unique insight on this as I just completed a PhD, but received my undergrad and MBA degrees throughout the latter part of the 1980s. While I didn’t quite learn math on an abacus, my original stats courses required looking up tables in a book. Today, you can run an assortment of sophisticated analyses pretty much at the click of a button. After taking several methods courses during the PhD program, I realized how much better of a CMO I could have been with the more expanded set of tools that today’s students are being taught.
Unfortunately, the impact of this gap can have tremendous consequences for firms. Imagine the following scenario (which actually happened). The CMO and CFO took a multiple regression analysis to the CEO; he didn't understand regression and therefore found ways to dismiss the analysis. And, people in senior positions rarely like to be tutored by junior employees so educating him wasn't an option. In reality, analysis is only as good as the individual who must make decisions using it. If the Marketing Director does not understand how to use the output from an analysis the Assistant Brand Manager conducts, then the insight is likely lost
Which brings me to a key question: When you get your MBA in your 20s, and technology and tools change drastically every few years, how do you sufficiently retool so that you maximize decision making efficacy when you reach the C-Level?
To address this, I reached out to an individual who has unique insight. Rob Matteucci, the former CEO of Evenflo and executive from Procter and Gamble, is currently teaching MBA and undergrad students at the University of Arizona. As a current instructor, he is exposed to what students are studying and learning in 2014. As a former executive, he understands the need to retool. What follows are insights from the discussion with Matteucci.
Q: As you’ve taught MBA students, is there anything that has surprised you about what or how they learn?
MBA students today communicate differently. The rapid fire speed of their communication with their colleagues via multiple on-line and smart phone tools creates a different learning dynamic. When I completed my MBA in the late 70’s, and even in my early P&G days, communication was achieved via typed “memos” which were copied and sent via “snail mail”—with a turnaround for a response of days, even weeks. Today, our students want and expect an instant response.
The pace of communication, combined with the ability to conduct searches on industries and companies via multiple on-line sources, leads to a “rate of learning” that is unprecedented. The ability to run comprehensive, real-time analyses makes insight generation faster and better. In contrast, we used to resort to Nielsen for market size/share data which arrived weeks after the period was over—leaving us in a “catch-up” mode. Today, the data is instantaneous and at students’ “fingertips”, which allows them to manipulate data in ways that were not previously possible.
The final difference in contemporary MBA students versus yesteryear’s students is the degree to which they think and are global. They are learning that there is only one economy, and it’s global-not local or regional. Events which take place in Greece, Venezuela, Russia and Vietnam impact these students as professionals, regardless of their industry, and as individuals. As an example, the recent drop in oil prices has a geo-political impact, a U.S. impact on the cost of goods at work, and a personal impact when they fill up their gas tanks. The interconnectedness between the individual, the job, and the globe is pervasive in students’ minds.
Q: Do you think there is a “skills” gap between the C-Level and the graduating MBA?
There is a meaningful gap, particularly between the Millennials and senior management. The gap includes, at a minimum, the changes mentioned above, and a cultural difference in “work ethic” and schedules. We used to work in the office five days a week and an occasional weekend. Today’s MBA students are used to working “anywhere” at “anytime” by using a variety of different communication vehicles. As a result, Millennials don’t necessarily feel that they have to be “in the office” on a rigid schedule to complete their work. As an adjunct instructor, I have had to learn to adjust to their learning techniques and styles to effectively “teach” the content. This has been a painful, but necessary transformation.
Q: Knowing what you now know, what advice would you give a CEO or other C-level leaders to ensure that a skills gap doesn’t exist?
1. Be a Guest Speaker: Serve as a guest speaker in college classes multiple times a year. I am not kidding. This would require the C-Level executive to prepare for their audience in ways that are meaningful to the students, with “modern technology”. And if possible, don’t delegate the development of the presentation to a lower-level manager; do the work yourself as it will force the executive to understand to better understand today’s students. As an example, I am learning as I teach at the University of Arizona, Eller College of Management, and am able to bring back some of today’s trends to operating companies for which I serve on the Board.
2. Get Involved in Recruiting: Participate in some entry-level recruiting/interviewing. Again, I am not kidding. This would allow the executives to meet today’s students first-hand and to better understand their capabilities and expectations.
3. Seek Analyses from Junior Employees: Ask to regularly see analyses and tools utilized by entry-mid level managers. Ideally, discuss the analysis with the junior employees in person. I think he/she might be surprised by some of their techniques, skills and thus, insights into the world of business.
In addition to Matteuci's advice, I have a few suggestions based on my post PhD understanding of the broader set of tools available to analyze data. First, there are some topics that are easier to learn on your own via books than others. For me, statistics and coding doesn't fall into this camp. I find that I learn faster in a classroom environment; a great teacher and smart peers, combined with a textbook and Google (today, all answers to inane questions are usually found through Google), make learning difficult topics easier and faster. Recognizing that time is limited, there are open enrollment executive education programs (the best U.S. programs are Darden, Harvard, Chicago, and Michigan) that can concentrate learning in a short period of time. Also, there are side benefits--creating a new network, recharging through learning, and strengthening your resume. If you haven't been back to school in a long time, you may have forgotten how exhilirating it is to be in an environment where you aren't expected to know every answer and growth is the barometer for success. In the first semester of the PhD program, I realized how hungry I had been to feed my brain in a way that only an academic program could deliver.
Second, attend targeted programs through specific organziations. For example, the DMA offers online courses on a variety of specific topics, such as advanced email metrics, etc. Third, join local, targeted organizations and consider hiring a tutor (or perhaps even a professor from a local college) to create a customized curriculum that accommodates your schedule. For example, if you lived in Charlottesville, VA and wanted to learn to program in R, there is an R user group at UVA that you can connect with via Meetup.com. The point is that if you've been out of school for some time, the quantity of analytical tools available and the ease of using them has changed tremendously. It's well worth the time to invest in your own growth, as well as the company's.
Join the Discussion: @KimWhitler
