Inside the cubicles at many workplaces, there’s a strange trend taking place.
Young people are comfortable and really don’t want to upgrade their cubicle for the corner office. A new survey calls it the “Aspiration Gap”.
In a recent study by talent management firm Saba and WorkplaceTrends.com, just 31% of Millennials said they aspire to a C-level position at their company. Also disinterested in the top job: women. Only 36 percent of women versus 64 percent of men aspire to be C-level executives in their organization.
What’s going on?
While millennials do prioritize work life balance, Dan Schawbel, Founder of WorkplaceTrends.com., says the reason for the aspiration gap could be simple: “They just don’t see the path up.”
According to Fortune, an obvious factor that explains why fewer women respondents expressed an interest in executive positions is not for a lack of ambition, but rather a lack of women role models at the top. After all, there are only 24 female CEOs in the United States’ biggest companies.
“You can’t be what you can’t see,” says Caroline Ghosn, founder of Levo League, an online community dedicated to helping women in the early stages of their careers. “If I look up the food chain in my company and I don’t want to be any of the people that I see, what’s my incentive to advance?”
Schawbel says companies don’t realize there’s big trouble ahead: The lack of interest in leadership comes at a time when 30 percent of HR executives polled said they were struggling to find candidates to fill senior leadership roles. It also comes as 10,000 boomers retire every day.
“Most companies are waiting around. This is not as big of an issue now as it will be in the next 3 to 5 years,” Schawbel says. “But we see problem now and think they should start to do something about it before it’s too late.”
One way simple way to do this is to provide employees with more opportunities to learn new skills. The survey found one reason workers lack interest is because they feel they aren’t getting proper training for top jobs.
Emily He, Chief Marketing Officer of Saba, said: “There’s more at play than the retirement of Baby Boomers; the fundamental approaches businesses take to find, develop and inspire leaders at all levels need to change.”
Schawbel said employees are looking for personal career direction and suggests employers address the aspiration gap in these ways:
* Train and engage potential leaders so they have a better chance of becoming future executives.
* Help women and young workers feel their requests for leadership development are heard
* Provide more learning opportunities at all levels, particularly for women.
* Initiate succession planning programs
* Pair new hires with mentors
“By providing training and making millennials more confident in their roles, they might be more aspirational,” Schawbel says.
What are your thoughts on why young people and women don’t want the top job? Do you think they need more training? Or, do you think they are put off by the time commitment required of top leaders and the lack of work life balance?