Next to their annual Global CEO Survey PwC ran a parallel survey with over 200 leaders from AIESEC, a leading international student organisation. The respondents were all under the age of 30, and came from over 100 countries. They looked at the two groups side by side, exploring where young (future) leaders are aligned with the CEOs of today, and where they differ.
61% of AIESEC young leaders believed economic growth would improve over the period of 12 months, compared to only 29% of CEOs. The confidence of tomorrow’s CEOs remains undisturbed as last year, perhaps demonstrating the resilience and positive outlook characteristic of this generation?
Tomorrow’s leaders are optimistic but also concerned – they see the world as a riskier place, than the current generation of CEOs. Tomorrow’s leaders are especially aware of the risks and potential impact of new technology, and they believe that emotional, personal and moral qualities are as important in leaders as professional skills according to PwC.
But there are new conclusions to be drawn from this year’s survey. Picked out the five key findings PwC think are the most important:
- The generation gap is alive and well. CEOs, millennials and Generation Z need to be much more aware of their different – but equally valid – perspectives, and work harder to find common ground and new ways to work together. How to create a working environment which is not only fit one generation but all (X, Y, Z). Not only finding common ground is important but seeking out how they can be complementary to each other, how they can appreciate each other.
- The young leaders said that many existing HR systems and processes are simply not fit for purpose when it comes to recruiting and retaining this pool of talent. Organisations need to understand what motivates this generation and adapt accordingly. HR needs to look into how they can become more agile and create less rigid, more organic systems.
- Although nationalism and protectionism appear to be on the rise, CEOs need to ensure their organisations think, act and recruit internationally, to attract and keep the best talent. Offering people the chance to work overseas will continue to be key. I think the challenge is a societal issue, whereby, there is a pressing need to rightly interpret and implement cultural diversity as well as cultural heritage within and without borders. Due to globalisation and technical advancement international experience can be gained almost anywhere.
- It’s not just about coping with technological change: CEOs need to ensure every aspect of their organisations fully embraces and embeds the possibilities of ‘fully digital’. That includes taking social media seriously. Interesting data that 90% of young leaders are active on social media channels versus only 43% of current CEOs. They also need to take into consideration of a new arising phenomenon called technological burnout.
- And finally digital is not just about opportunities. The risks are very real too. ‘Digital natives’ can play an invaluable role here, helping organisations understand, address, and anticipate emerging online and cyber threats. Aditionally there is a human aspect to this to learn how to behave, interact, develop, manage ourselves differently in the digital era.
What kind of conversations can you initiate within your organisation related to the above findings?
Source: http://www.pwc.com/gx/en/ceo-agenda/ceosurvey/2017/gx/deep-dives/aiesec.html