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The Future of Leadership Report 2014
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“Young people across the world are trying to fight for a better world. Young people want a change.” Rolf Schmachtenberg President of AIESEC International
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Youth to Business Forum “Where Youth and Business meet to switch ideas into actions that will impact the world.” Youth to Business Forum is an event that takes place in multiple locations around the world; bringing top young leaders together with business leaders, thought leaders, and experts for a conversation around pressing global issues with the aim to generate new, but most importantly, actionable ideas that will impact the world and its future.
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Youth to Business Forum: Top Leaders Edition took place on February 25, 2014 in Guangzhou, China and brought together 250 top young leaders and over 14 organisations to discuss the future of leadership.
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Executive Summary A Profile of Millennials ! ! ! ! !
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“People are interested in social movements, being sustainable and creating impact.
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Gen Y is fast moving and constantly comes up with creative ideas.
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They don’t find solutions to solve problems in the system anymore; they create new systems themselves.
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Gen Y is change-driven.
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Ezekiel Vicente
Chief Technology Officer at Mindvalley
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The Challenges Leaders Face with Leading Millennials
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Understanding Millennials There are many generational groups coexisting in the workplace. Millennials are different from previous generations because they grew up during the technological age. This demographical diversity brings a challenge for employers in terms of creating a collaborative work environment.
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Profit versus Impact The old business models of strictly seeking profit have become outdated. The world around us is changing quickly and new systems are being developed every day. We need to ensure that we lead with values and think with a long-term perspective. Young people want to feel that they can rely on the leaders of today for a better tomorrow.
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Being Transparent
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It is crucial for business and employers to be very clear with what their messages is to youth. Young people expect that they will get all the information they need to allow them to convert data into intelligence. In systems where information is not readily available or shared, such as workplaces with hierarchy and without mentorship or guidance, Millennial employees can be disengaged and unhappy.
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“ You can do some powerful things in whichever organisation you choose.Take as much from every experience as you can. Experience is what matters.” ! Faith Brewitt CEO, Have Faith in Your Brand
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The Changes that Need to be Made
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Business is moving fast, but the world is moving even faster. By 2025, Millennials will make up 75% of the global workforce. The panelists at Youth to Business Forum: Top Leaders Edition shared insights on how they see the Millennial generation affecting Business today, and how leaders can start to transform their organisations to see more success in the future.
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Empower Your People People are the biggest asset for any organisation; they make everything happen. Employers should provide learning opportunities and mentors that will support employees throughout their whole experience within the organisation. Businesses should provide the opportunity to develop and grow into .
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Invest in Women Women bring something different to the corporate world, but also in leadership. Their style and motivation greatly differ from men and can offer different perspectives. For businesses to be innovating and adapting to the quickly changing markets, they need to be activating their strengths by having more women and diversity, not only in the company, but leading it. It is this generation that needs to make this change happen.
! Be Truly Socially Responsible Chasing profits became popular before the financial crisis, but businesses now have to think about society and being sustainable. Consumers are more conscious about the social impact their choices have, so businesses have to start leading by example. Demonstrate strong values through the decisions and actions your organisation makes.
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“The power of your organisation is in the people that are managing it every day.”! Jim Walsh Partner, Global Human Capital Strategy and Transformation Leader PwC
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Youth to Business Action Space
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The 250 young leaders were grouped into 6 geographical regions and spoke about their best and worst experiences being led - ultimately, creating guidelines for how managers can lead Gen Y to reach their full potential.
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How do Millennials want to be led? After hearing about the challenges leaders face with understanding them, 250 young leaders came up with three key suggestions on the behaviours leaders and managers should demonstrate in order to help young employees reach their full potential.
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Be Entrepreneurial
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Youth are dynamic and adaptable to change. They are innovative, creative and expect that they will be able to work and lead using their full potential. Give them responsibility and hold them accountable, but let them figure out the best way to get to the result you want.
Be Purposeful Millennials seek for purpose in everything they do, especially in their professional life. Communicate with them the purpose of their large responsibilities and they will become more connected to their work tasks big and small. The “Why” is the most important thing to demonstrate to them.
Be Authentic In the social media age, being open and vulnerable is something that young people are very used to. They appreciate genuine leaders who promote honesty and transparency. Old, hierarchical systems are difficult for this generation to work within. They are motivated when they can contribute opinion, share feedback and have open conversations with their team and managers.
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To make these more actionable in the workplace, here are some do’s and don’ts that young people believe will help you lead the Millennial generation better.
DONT’s
DO’s 1 2
BE TOO CONTROLLING
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FORGET TO SHOWCASE THE RESULTS OF THEIR WORK EXPECT THEM TO WORK IN A STANDARD WAY
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PUT TOO MUCH PRESSURE WITHOUT SUPPORT FORGET ABOUT FOSTERING A SOCIAL ATMOSPHERE
FORGET ABOUT FEEDBACK
BUILD RELATIONSHIPS
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RESPECT DIVERSITY
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DISCRIMINATE
LEAD BY EXAMPLE
10 BOX IN THEIR CREATIVITY
BE AUTHENTIC HAVE A CLEAR PURPOSE GIVE AND TAKE OWNERSHIP BE FLEXIBLE. PROVIDE A CREATIVE ENVIRONMENT CREATE A LEARNING ENVIRONMENT
GIVE FREEDOM AND TRUST APPRECIATE AND GIVE CREDIT
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UNDERESTIMATE THEIR ABILITIES
LEAD WITH FEAR
Our Speakers
Caroline Watson CEO + Founder Hua Dan
Traci Fenton CEO + Founder WorldBlu
Robert Scholten Country Manager Greater China & Mongolia ING Bank
Sarah Endline CEO + Founder sweetriot
Faith Brewitt CEO + Founder, Have Faith in Your Brand
Ezekiel Vicente Chief T Mindvalley
Jim Walsh Linus Jonsson Partner, Human Capital and Country Manager, China Transformational Leadership EF Education First PwC
Jan Eliasson (by video) Deputy Secretary General United Nations
Da Li (Host) CEO Deya Tech
Our Partners
“We won’t be able to do anything by ourselves. We all need to collaborate.” Siobhan Connelly President of AIESEC in Tanzania
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