Fewer young people interested in leadership roles, new survey finds
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An international consulting firm's latest global survey shows fewer younger workers have their eyes on the corner office.
Gen Z and Millennials will make up 75 percent of the workforce by 2030, but only six percent of the 23,000 surveyed by Deloitte were motivated by reaching senior leadership positions.
Deloitte partner Lauren Foster told fellow Gen X-er,
Nine to Noon's
Kathryn Ryan, the six percent figure was the key takeaway from the firm's 14th survey - and believed two key elements were at play.
Reflecting on her 20s and early 30s, she said "getting the corner office probably wasn't top of mind", and so, "age and stage" was likely to be a factor in the result.
But she also suspected current leaders didn't make the top role look that appealing.
"When you ask any senior executive how things are going, they're going to tell you they're busy - that's the number one thing. Maybe they look stressed or feel stressed," Foster said.
"I think when this generation... [who are] constantly on their devices, and getting all this information, look up at leadership... [it might] not feel super compelling for them."
Foster said it was clear the younger workforce wanted to be invested in, but there was a gap between the expectation and reality of on-the-job training and mentoring from leaders - with many of those in management positions Millennials themselves.
She said the report also showed that younger workers prioritised setting boundaries, getting more feedback and coaching - things that didn't have to cost a huge amount of money.
"Having good conversations with your people, diving into those coaching and mentoring conversations, you don't need to run an expensive programme. To do that, you just need to invest the time."
Business New Zealand chief executive Katherine Rich was surprised by the result and said she thought more young people would want to lead.
She said younger workers were likely focussed on fulfilling their current role and not necessarily imagining themselves as a chief executive.
"But over time this demographic group is going to have to get used to leadership, because it's not that long before Gen X is going to hand over the keys," Rich said.
"We are going to have to have a catchment of leaders who are feeling confident and capable."
She believed a 'flattening' of hierarchy in some workplaces would encourage the leadership muscle in younger workers.
The survey also showed both Gen Z and Millennials had high expectations for their employers, wanted career progression and would job hop to get it. It also showed most prioritised work-life balance.
Rich said discussions about work-life balance were positive, but warned it would always be a juggle.
"Sometimes I wonder for many if it really is a holy grail, because if you're going to be an elite performer - in anything you do - within business, within life there is always that aspect of working hard, and consistency."
Meanwhile, Foster, who has been at Deloitte for 15 years, said she often wondered how many of the firm's graduate intake would still be there in a decade's time.
She said the generations were much more mobile and confident they could secure work elsewhere - especially New Zealanders embarking on an OE.
Rich said one of the things that stood out for her in the report, was that younger workers were thinking more deeply about purpose, workplace values, and what a job could do to them - and employers needed to pay attention.
She said Gen Z-ers were coming through with a confidence she didn't recognise and employers would have to work hard to hold onto them.
"There is an investment in the younger generation, and you are going to lose some, so, I think we have to get used to that.
"But, I think what this report reminds us is that if there is authentic leadership, where you are engaging with these younger generations.
"I think some of us as Gen X leaders can be confident that if we bring out authentic selves we have a lot to teach them - they want to learn, they want to be mentored."
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