Think wisdom only comes with age? New-age businesses are embracing young leadership to thrive in a fast-changing industry
A decade ago, the word CEO may have conjured up images of a 50-year-old person with a professional experience of more than 30 years. A manager would require ten years of experience, and an executive would be under a long training period. But in today’s transforming world of work, where digitalization and technology are accelerated, young leadership is an awakening that has become one of the most influential factors for the growth of any organization. The youth may lack experience, but they possess several elements of leadership that will benefit organizations and inspire colleagues.
The key question is- The youth today constitute approximately half of the world’s population. But are organizations in diverse sectors able to make use of this advantage?
There’s no denying that workplaces have seen exhilarating changes for businesses, leaders, and employees in the last few years. As the dust settles, one fact has become clear: Power has shifted from organizations to people, from hierarchical bosses to young leaders with horizontal expertise.
Start-up CEOs as young as 20 do not fear taking risks; they are taking the workforce by storm with digital innovation, social progression, and multi-tasking with imagination, collaboration, and solutions- crucial to any sector.
Controlling is not their style.
Business writer Thomas J. Peters once said, “Leaders don’t create followers; they create more leaders.” In a fast-changing industry where technology innovates at lightning speed, young professionals are breaking-through set patterns of businesses that control the narrative. They come with adaptive skills and are constantly educating themselves and shaping narratives to be a step ahead in turbulent times and competitive marketplaces. They are part of the talent economy and don’t work in Industrial-era organizations with clearly defined roles, organizational silos, or top-down management. They are transparent and want to consider each individual in their team as a leader.
Young leaders believe in horizontal expertise.
Leadership can no longer be defined by a role in the C-suite or years in the industry, but by the actions of everyone in an association to shift the culture toward a more positive and collaborative environment. Younger professionals never stop learning, so they jump horizontally, gaining specialized expertise in various skills. This shift brings disruption, innovation, and new solutions to the forefront.
The secret success of Digital natives in the leadership
Organizations look to digital natives for the secrets of success in the transformative age. Young leaders have an evolving mindset of strong values that include accountability and impact. They evaluate the consequences of their decision-making for the organization and its impact on the socio-political environment with a conscious voice for activism. With immense learning and unlearning, the youth are shaking up business cultures and the workforce with their values, attitude, and expectations. That flexibility is helping young leaders to bring digital innovation into business models, enabling organizations to out-grow their competitors, capture existing markets and create new ones, and continue attracting talent and investment.
With the rise of younger technology-savvy generations in brands and organizations, I can see businesses shaped for tomorrow, leaders creating leaders, and embracing change with inclusivity.
Generational diversity in Boardrooms
Adding generational diversity to a board helps future-proof your business. How can a company with a leadership team of only one generation unlock the potential of other generations? Multiple generations bring a diversity of thought and create generation-defining moments of various strengths.
A new leadership capability
There’s no denying that the young are born with the charisma and energy to change the world one step at a time, but they don’t become leaders in a vacuum. The senior leadership in an organization helps them elevate to the spot of leaders through patience, support through ups and down, and the constant push to stay motivated and gain confidence. Their moral support brings a significant change in the consistent performance of the young generation.
Leaders from different generations have much to learn from one another. Inter-generational collaboration brings deeper understanding, empathy, and loyalty to the table. Generational diversity is as important as diversity of thought, gender, geography, and beliefs.
About the author:
Radhika Mehta, National Director- Operations and Growth, Ruder Finn India