Well, not officially anyway.
I made it up.
It will not form part of a formal Psychology curriculum, nor
will it be mentioned in Industrial Psychology 101. But it exists, and I’ll explain. McDonald’s ($MCD) is used as my preferred
example for illustrative purposes only.
I enjoy an occasional Big Mac as much as the next guy… unless the next
guy is a Sumo wrestler!
Everyone is in sales… somehow, somewhere.
Selling – or trying to sell – their services to the highest
bidder. In capitalist countries this is
commonly referred to as employment. You may be employed full-time, unemployed, or
even working part-time at McDonald’s, say for $10/hour. The latter refers to the price you have
agreed to value your time, skills and services at.
By definition, if you are unemployed by choice, you haven’t attached any value to your time, skills and services.
On the other hand, if you are unemployed due to unforeseen,
near-term circumstances beyond your control – e.g. because you lost your job –
you likely have a perceived price for your services, that you will eventually pitch
to a future, prospective employer.
If you happen to be unemployed due to e.g. illness and/or
disability, then my definitions above don’t apply. For you may be challenged and/or unable to
sell your services to a willing buyer, preventing you from realizing your worth,
strictly speaking, in monetary terms. Of
course you are very capable of adding value, loving, and sharing happiness in
other ways!
With the disclaimers out of the way, let’s get to the heart
of the matter.
So, let's pretend someone works at McDonald’s earning $10/hour. They may – as evolving humans are inclined to
do – strive to improve their financial standing and/or working conditions, by
transferring their skills to another, similar employer… for a slightly higher
price.
Therefore, a skilled McDonald’s employee may change jobs to
join Starbucks ($SBUX), e.g. for $12/hour + benefits. That is an example of “The McDonald’s
Syndrome.”
Skilled, white collar managers are subject to the same
psychological quagmire. The bid/ask price
may be different because their unique management skills are subject to a different
supply/demand curve. For example, a
McDonald’s corporate employee working in the marketing department for $60,000
in annualized compensation, may aspire to joining the marketing team at Home Depot ($HD)
for $70,000 in annualized compensation.
Similarly, the CEO of a large corporation [consider the
recent news of Burberry (LON:$BRBY) CEO Angela Ahrendts joining Apple ($AAPL)]
may leave one corporation for another large corporation, perhaps citing better
career prospects, a new challenge, more responsibility, etc. In reality, “The McDonald’s Syndrome” caused
them to move from one position to another, agreeing to sell their services to the
new employer, for a slightly higher price.
In the instance of the example immediately above, that slightly higher
price may actually be a difference of several million dollars!
My point is as follows:
Imagine asking a
typical McDonald’s employee the question, “What do you think your next job
will be, after working here?” Perhaps
they don’t know; haven’t thought it through before; or it may be possible that
they are simply happy and/or delighted with
where they are at presently, and with what they’re currently doing daily. Perhaps, they’re just happy to have any job!
I’m confident that no McDonald’s employees would reply with
something like “when I leave this job I plan to manage a major bank,” or “in my
next job I am going to open my own dentistry practice.” It’s more likely that they would say something
like “I’m thinking of joining Starbucks because they offer better pay, employee
benefits and company stock.” I don’t
know this for sure, just an example, made up as well.
You see, for most people, we simply lack the ability to see
beyond our current surroundings. In
fact, for most people, this means going to work every day, doing mostly the
same stuff, and getting a regular paycheck.
Very few employees have the courage to either think beyond the
immediateness of their current situation, often as a result of life, in
general.
By life, in general,
I’m referring to debt and other commitments.
Self-inflicted responsibilities, like kids who attend a local school in
their preferred community, a home that was acquired for nesting, mortgage and car payments that prohibit employees from
exploring wholesale change… because the perceived risks are simply too great. Lethargy!
If you’re reading this post, the mathematical odds of you
being stuck in “The McDonald’s Syndrome” has to be greater than 99%. If you’re fortunate enough not to fit this
description, just look up and know that the first person you see will fit this
99% demographic.
Why should you leave your
McDonald’s to earn 10% more at Starbucks? Is whatever you are currently getting paid,
really what more than 1/3 of your adult life is valued at? This is, after all, a defined measure of how/what
you are currently valuing your time.
Maybe you have even convinced yourself that you are happy doing
whatever it is that you do every day… and who knows, maybe you really are?
But, this story is not about the money you earn, or the wealth
that you are creating for yourself and your family.
It is about life… and what you make of it. You have this one chance at a very limited
time on earth to do great things. If you’re
suffering from “The McDonald’s Syndrome,” perhaps today will be a starting
point for you to decide what you can do to escape this trap?
There is an entire world of opportunity waiting for you, beyond
your current surroundings!
Live large… do well, and find your happy place!
Disclosure: No positions
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