On Monday, ousted New York Times editor Jill Abramson began her post-firing public life by speaking at the Wake Forest University commencement, and shared her father’s buck-up maxim for when you’re dumped or disappointed: “Show what you’re made of.” Here, I add one other bit of advice: Learn the word “fungible.”
Dear soon-to-be-college grads:
I regret to inform you that at the last minute, we at the University of Hard Knocks have added one additional graduation requirement: You must learn the meaning of the word ‘fungible.’
But not to worry. We’ll help you out with the dictionary definition:
fun·gi·ble [fuhn-juh-buhl]: adjective.
(especially of goods) being of such nature or kind as to be freely exchangeable or replaceable, in whole or in part, for another of like nature or kind.
And here’s the deeper meaning: When you enter the working world, you will almost certainly be fungible. That is, no matter how hard you work, you will remain, at base, replaceable. Disposable.
This is not a cynical-making thing. It’s just a hard fact that it’s important to know as you plan your life and make decisions along the way. You might love your work as much as Jill Abramson loved hers, to the point that you wear your love not just on your sleeve but in a tattoo on your shoulder. But your work may not — cannot — love you back the same way.
I use “work” here as a collective noun, and your working-world fate will likely rest in collective hands, just as Jill Abramson’s firing stemmed from rejection not only by the publisher but by the “masthead” — the newspaper equivalent of nobility. You’ll never know all the structural constraints and financial challenges and personal machinations that could converge into a pink slip for you. You just need to know, deep down, that it’s possible.
What to do with that knowledge?
First, you need to watch for the signs. Is your industry in trouble? Is your company hemorrhaging cash or known as a brutal shucker of staff? Have you noticed that you have no higher-level manager who seems invested in you, who has your back?
Second, live your life accordingly. There are some people for whom you are not fungible. Your parents. Your partner, if you’re lucky. Most of all, your children, if and when you have them. “The currency of love is time,” they say. Work can suck you in and make you forget that. But there are unpaid tasks that only you can perform. Continue reading