Do current business leaders consider millennials — perhaps the most studied species in history — worthy of following in their large footprints? What are business leaders doing to groom millennials, if they do want them to take over?
Robert Half, the staffing service based in Menlo Park, California, found out by asking more than 2,000 CFOs.
Because millennials already represent the largest generational portion of the American workforce, they would be well represented in the C-suite in any case. The survey suggests, however, that CFOs have no qualms about seeing the younger generation move up the ranks.
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The survey's results confirmed that today's bosses believe millennials will be excellent leaders tomorrow. Almost 3 in 10 said they were "very confident" in placing top management responsibilities in the hands of these up-and-comers born between 1978 and 1999. Another 57 percent said they were "somewhat confident" in their management abilities, for a total of 85 percent at least willing to turn the reins of power over to the upstarts.
What are enterprise-size companies doing to train millennials for C-suite residency? Actually, they are doing quite a bit, at least according to this survey.
Six in 10 respondents said their companies held on-site leadership training. More than half hook them up with mentors and send them to conferences, seminars, and other learning opportunities. About 4 in 10 said they encouraged them to join professional/trade associations, to take online courses to hone their skills, and to subscribe to relevant publications.
Robert Half offered a few tips to enhance budding managers' skills, among them one that seems simple but is often overlooked: letting them get their feet wet managing.
"Starting with smaller initiatives, enable them to flex their ingenuity as project leaders. Give guidance, but allow them to set strategy," Half advised.
Other tips included recognizing the attributes of millennials and playing to them. "Millennials commonly seek inclusive and transparent workplaces, and many expect to move into leadership roles rapidly. Capitalize on their problem-solving skills, curiosity and confidence."
And get out of your office and go sit down for a chat with them. "Research shows millennials often prefer face-to-face interaction with their managers. Help them become next-generation leaders by communicating in person, when possible."
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
