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August 21, 2006
Two Extraordinary Men
I had dinner on Sunday night with Shimon Peres, Foreign Minister of Israel, and breakfast on Saturday with George Soros, the founder of Soros Fund Management. I tagged along with Ned Lamont, my friend and candidate for US Senate (hey, whatever it takes to meet these kinds of people!).
I was, needless to say, impressed by the perspective and insights from these two men. Despite--or because of--their age, they're as considered, passionate and energetic as men half their age. I think it is worth asking why our profession, public relations, has been so quick to adopt a culture of youth.
When called upon at the dinner, Minister Peres reflected on Israel's recent action against Hezbollah in Lebanon. He stated that Israel had little choice but to confront the growing menace on its northern border, with its 12,000 missiles and swelling ranks of volunteers. He acknowledged that the Israeli Army had been surprised by the tenacity of its opposition. He reiterated his hope that the Government of Lebanon could reconstitute itself without Hezbollah and that the UN Peacekeeping Mission could take its place within a week.
He switched quickly over to a vision for the future of the region. He believes that America must stay the course in Iraq, to give the new government time to become credible. He is convinced that the long-run economic interests of the nation states will override ideology and religion, that citizens will prefer improved living standards and better jobs over constant fighting. "You must look at the world in 50 to 100 year cycles," he said.
He then reflected on his 82nd birthday (two days before), suggesting that what matters most is not the profession you choose but the manner in which you do it. He was being driven back to NY City at 11:30 PM so that he could start the day at work. "If you live this way, you can live twice," he said. His fundamental optimism and European charm are impossible to resist.
Soros has just completed his latest book, "The Age of Fallibility; Consequences of the War on Terror." He was very pleased with Ned Lamont's primary victory over Senator Joe Lieberman, believing that it marks a significant turn in attitude for the American populace on the war in Iraq (he is a serious critic of the Bush Administration). He handed me his new book; here are a few excerpts.
"In the open society...no claim to the ultimate truth can be validated and therefore no group should be allowed to impose its views on all the rest."
"We (in America) have been pursuing success without much concern for the truth. As a result, we have become a feel-good society, unwilling to confront unpleasant realities. We want our elected leaders to make us feel good."
"Respect for truth can no longer be taken for granted; it has become a matter of values...intellectual honesty and integrity."
Both Peres and Soros are well beyond the normal age of retirement and are still greatly enhancing the global dialogue. They are in the most demanding professions (politics and finance) with fast-changing environments and complex constituencies. The challenges of the next decade will include funding of health care, inter-generational shifts of money (estate tax), and funding of private pensions. We need the insights of those from the earliest part of the Baby Boom (and yes those who are in their 70s and 80s) to solve these communications problems. The limitation of procurement-lead contracts with large PR firms is that work is done by the more junior executives and can exclude specific time for senior strategic counsel. I observe that many of the best PR practitioners move into academia or into other non-profit pursuits. This is noble and necessary but should not be the universal solution. Let's consider flexible working hours, consulting arrangements and other mechanisms to assure that we have the perspective of those who are in this large and influential market segment.
Posted by Edelman at August 21, 2006 11:00 AM
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Comments
Congratulations on meeting the mythic Soros! And thanks for sharing some insights from his new book. Would you mind elaborating on the issues of procurement-lead contracts? Are there other kinds of contracts that do allow for the strategic counsel you recommend? Is this a problem exclusive to large firms? I can say that my own future work-life-balance ambitions make flexible working hours and telecommuting options highly appealing and the lower on the corporate ladder those are offered -- even for one day a week -- the better. Should you start weighing the sides of this option, here's a link to an article about HP cutting back its telecommuting policy: http://www.mercurynews.com/mld/mercurynews/news/14732974.htm
All the best.
Posted by: Eric Hansen at August 21, 2006 1:16 PM
I concur fully that a professional business benefits greatly from keeping its senor counselors and continuing to involve them as contributors in client work. However, your reference to "procurement-led contracts" being one of the sources of failure to do this is revealing.
Surely firms can assess their own economics and make the investment in retaining senior advisors without having to justify whether or not they are "billable" or "chargeable" at collectable rates from specific clients. The mentality of "if we can't bill it, we don't want it" is NOT just a problem cause by external clients - its a philoophical weakness and limitation of how PR firms are managed.
Posted by: David Maister at August 21, 2006 2:07 PM
Excellent insights David. Of course PR firms are not the only professional organizations dealing with this issue, be it management philosophy or stemming from the delicate client-professional relationship. Are there other fields or models that can be looked to for ideas? For instance, law firms must face similar issues retaining top counsel and have a business model similar to PR firms. Judging from your Web site, this is your field of expertise. Have you encountered a way to shift to an economic model of the strength to which you eluded? Thanks for weighing in.
Posted by: Eric Hansen at August 22, 2006 2:24 PM
As an intern in various PR firms, I've noticed the lack of older, seasoned executives coupled with the trend of senior leaders going into academia. My university's communications department just hired two high-level executives who could very well have continued in the PR industry for an additional 20 years.
Also, you mention inter-generational shifts of money as a challenge for the next decade. Certainly Generation Y's college debt combined with our national debt will become a big factor before the decade is up. In 2005, undergraduate students borrowed, on average, $19,300 from all sources, up from $12,100 a decade earlier (U.S. Dept. of Education).
Peres, Soros, Lamont and Edelman all at one table - wish I could have been a fly on the wall for that one!
Posted by: Jon Schweitzer at August 23, 2006 1:46 PM