Leadership shortage looming

EMPLOYERS MUST do more to develop Australia’s next generation of leaders, as almost half of Generation Y employees believe their company is not doing a good enough job in preparing them for management and leadership roles

EMPLOYERS MUST do more to develop Australia’s next generation of leaders, as almost half of Generation Y employees believe their company is not doing a good enough job in preparing them for management and leadership roles.

A recent study of 300 Generation Y workers also found 43 per cent believe reverse age discrimination exists in their workplace and feel that they are taken less seriously or treated unfairly at work because of their age.

“Grooming replacement talent has become an essential strategic element for any organisation’s stability and long-term growth,” said Peter Sheahan, an expert on managing Generation Y in the workplace.

“As more and more baby-boomer managers retire, fewer young professionals will be available to take their places. If companies don’t do more to actively engage and retain their younger talent they will be faced with a potentially massive replacement gap within their management ranks.”

Sheahan, who conducted the study, also found 43 per cent of employed Australians aged between 18 to 28 have no involvement in strategic planning sessions or exposure to the decision making process within their companies.

Organisations are taking a serious risk if they fail to adequately address succession planning for management positions, according to Sheahan.

He said companies must identify their young talent early on and provide them with the training and experiences necessary to moving up in the organisation when opportunities arise if they are to successfully retain Generation Y.

“With the tenure of Gen Yers getting shorter and shorter, some businesses see little point in developing the skills of younger staff because they know they won’t hang around long enough to use them,” said Sheahan.

Generation Y is notoriously impatient when it comes to climbing the career ladder, he said.

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