The HR & Payroll Resource Center is your integrated, comprehensive source for HR and Payroll information that merges news, analysis, and guidance – including custom answers,...
Sept. 22 — Developing new leaders requires focusing on the “millennial” generation, but four out of five organizations are not placing a priority on the development of this age cohort, Lacy Loew, vice president and principal analyst of talent management at Brandon Hall, said in a Sept. 22 webinar.
This finding arose from 242 responses garnered in a survey by the Delray Beach, Fla.-based consulting firm in cooperation with Harvard Business School—70 percent from the U.S. and Canada, 22 percent from Europe, the Middle East or Africa, 6 percent from the Asia/Pacific region and 1 percent from Latin America.
• There is “a dramatic change in leadership demographics—a new leader is moving in: out with ‘boomers' and in with millennials.”
• “All leaders should be targeted,” for leadership development, Loew said, “particularly younger leaders. Out with focusing on development just for executives and high potentials and in with quality experiences for all leader levels, with a special focus on accelerating development for millennial leaders.”
• The ways in which up-and-coming leaders learn are changing because “the modern millennial learner has arrived. Out with traditional training programs building skills leader by leader, and in with ongoing opportunities to immerse leaders in building functional experience via mobile and social tools.”
“The millennials are here, and they are the future of our organization,” Loew added in the webinar, co-sponsored by her organization and Bridgeville, Pa.-based management consultancy Development Dimensions International. “So should we be prioritizing millennial [leadership] development? You bet!”
The only major change in leadership development not directly related to the coming of the millennials that Loew cited is “the arrival of leadership analytics,” which implies “out with only leader program completion metrics and in with leadership requirements forecasting capability.”
“We’re not doing as good a job as we could be doing” with millennials, Barry Stern, senior vice president of leadership development solutions at DDI, said during the webinar.
Drawing on data from a survey his organization conducted among 13,124 leaders (1,528 of them HR professionals) at 2,031 organizations in 48 countries, he said 30 percent were undergoing aggressive growth, 25 percent cautious growth and 21 percent no or minimal growth.
“In companies that were growing more rapidly, there was a higher percentage of millennials, and in those that were growing more slowly or were flat, there was a lower percentage of millennials,” he added.
To contact the reporter on this story: Martin Berman-Gorvine in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Simon Nadel at email@example.com
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)