Preparing Tomorrow’s Leaders Today: Gen X and Millennials
In today’s global business climate, uncertainty is the new norm. Geopolitical and technological changes in conjunction with major mass demographic shifts are altering the pace of change at an increasingly rapid rate. The very nature of business is itself changing. Having the right leadership to navigate the complexities of this environment is imperative for businesses to remain competitive. However, with Baby Boomers retiring in droves in developed markets, there is a massive shortage of next generation executive talent ready prepared to lead.
In our latest report, The New Wave: Next Generation Executive Talent, we share findings on the generational transition of leadership from Baby Boomers to Gen X and Millennials. Based on a global survey of 850 business leaders worldwide, across industries and functional roles, we reveal what c-suite leaders need to be doing today to prepare the leaders of tomorrow.
C-suite executives are concerned about delivering revenue growth.
Executives today are grappling with how to connect with next generation consumers for the long-term. The influx of change in devices and platforms forces companies to need leaders that can thrive quickly as market conditions change.
“We plan to double our revenue by 2022. Thus we need a different breed of talent to get there and sustain this type of growth.”
– Vice President of Human Resources, Industrial sector, Central/Eastern Europe
Business leaders are anxious about a lack of key successors.
C-suite leaders recognize the need to identify and develop top talent for key leadership roles. They are looking to Next Generation talent to drive change and know that having a succession strategy in place is critical.
“If the organization is designed as a long-term business and not just a kind of mission task force, one of the first things you must ask is, who is next?”
– CEO, Nonprofit sector, Latin America
“Our talent pipeline is not really robust enough, and we need to mitigate our talent risks.”
– Regional Head, Industrial sector, Japan/Korea
Today's C-suite struggles to actualize enterprise-wide digital transformation.
“There is a big change related to new and future technologies, digitalization and Big Data, and thus there is a need to align adaptable leaders in this environment.”
– Division Head, Industrial sector, Spain/Portugal
“The businesses of today are not going to be the same as tomorrow’s entities. Our next generation of leaders will need to be entrepreneurial.”
– CEO, Financial Services sector, US