Michelle is a founding member and a shareholder of Talent Africa, now Signium Africa. She heads up the Assessment Services Practice for Signium Africa and has worked on numerous small and large scale talent management projects with clients across a v...
In the words of activist and author, Ralph Nader, “The function of leadership is to produce more leaders, not more followers.” However, according to research, 63% of today’s millennials do not believe they’re receiving adequate leadership development for the future.
Recent Visual Capitalist figures indicate that millennials make up 23% of the world’s population. And, depending on where you go, they could comprise between 40 and 50% of the global workforce by 2030. In Africa, millennials control as much as 65% of the continent’s buying power through household purchases, and, across nearly all regions, millennials are the most educated generation, ever. Astoundingly, US Federal Reserve data shows that millennials, once nicknamed “the broke generation”, accumulated a staggering 49% increase in wealth between the years 2019 and 2023.
Looking at such data, one would presume that the future couldn’t be brighter for millennials. However, a concerning trend has emerged: a clear leadership training gap exists among millennials – the generation poised to take the helm of organizations worldwide.
This disparity poses a notable challenge, as millennials have demonstrated a strong desire for leadership roles and development opportunities yet often lack the necessary support and resources. The impact of this training divide is far-reaching, affecting not only individual career trajectories but also the overall performance and success of the organizations and industries they serve.
Commenting from Signium Africa, Leadership Consulting Expert Michelle Moss says, “Bridging this gap should be a no-brainer. Given what we know about millennials, unlocking their immense potential could help ensure a smooth transition of leadership responsibilities over the coming years, and also elevate organizational performance hugely.”
Meanwhile, according to a Forbes article evaluating what is termed ‘the leadership bench,’ only 11% of organizations reported having strong potential leaders in their ranks. What’s more, leadership development training for newly-appointed leaders plummeted from 61% to 48% during the COVID-19 pandemic.
Millennials, the generation born between 1981 and 1996, have long been recognized for their unique perspectives, technological savvy, and entrepreneurial spirit. However, their aspirations extend far beyond these well-known traits.
According to a recent Deloitte survey, nearly 70% of millennials aspire to become leaders in their respective fields, showcasing a clear eagerness to take on greater responsibilities and make a meaningful impact.
“In spite of their ambitions, many millennials continue to face roadblocks to their career progression,” says Moss. “Their ability to lead, including their leadership attributes and styles, are not being fully explored, or taken advantage of.”
As a trusted advisor in executive search and leadership consulting, Moss lists some of this generation’s most promising traits.
Millennials optimize teamwork, as opposed to authoritative management styles. They’re very good at building relationships, which increases overall team commitment to organizational goals.
Much like the younger Gen Z, family values and mental wellbeing are central to millennial values and leadership styles. Millennial leaders believe that helping people maintain healthy balance is good for business.
Millennials have experienced fast-paced changes in society and technology. Many have endured three major recessions in their lifetime. As a result, this robust generation is able to navigate changes with agility and inspire innovations that transform challenges into opportunities.
While traditional leaders may seek to maintain the organizational way of doing things, millennials are quick to express their dissatisfaction and challenge outdated or ineffective processes. They’re also eager to embrace new tools and technologies that fast-track or enhance business’ output.
Millennials have witnessed society’s transformation of tolerance and acceptance, and are more likely to drive diversity and inclusion as a result. They also thrive in environments that give them a sense of meaning and belonging, and want their teams to share their values.
Evidence suggests that a lack of adequate leadership training and development opportunities is keeping millennials from reaching their fullest potential in leadership roles. The barriers to leadership development appear to be three-fold:
Studies show that millennials often find themselves in leadership roles without adequate preparation. According to a survey by Deloitte, only 36% of millennials felt that their leadership skills were being developed effectively in their current roles. This lack of development can lead to challenges in fulfilling leadership duties.
Millennials often expect rapid career advancement but may lack the necessary training or experience to take on leadership roles effectively. A Gallup study found that only 18% of millennials felt positive about their leadership skills, highlighting a significant gap between their career expectations and their preparedness.
According to a report by Brandon Hall Group, only 20% of organizations believe they are “very effective” at developing leaders. A general underinvestment can lead to a lack of confidence and competence among millennial leaders.
Moss cautions today’s leaders of the impact that these hindrances could have on their organization’s future: “This mismatch between millennials’ ambitions and the training they receive has created a troubling gap, leaving a generation of talented individuals feeling underutilized and undervalued. As a result, organizations risk losing their most promising future leaders. Ultimately, this could compromise a company’s long-term success and ability to remain competitive.”
The results of the leadership training for millennials extend far beyond individual career trajectories. The impact is felt at the organizational level, where the success and sustainability of the business are intrinsically linked to the quality of its leadership.
Deloitte’s study of millennials and Gen Z-ers found that respondents who received adequate leadership training were more likely to stay with their current employer, with 61% expressing a desire to remain with the organization for the long term.
Effective leadership development fosters employee engagement and retention and has a direct impact on organizational performance. According to research published in the South African Journal of Human Resource Management, companies that prioritize leadership development for Millennials outperform their peers in key metrics such as revenue growth, profitability, and market share.
Deloitte’s “Millennial Leadership Program” is one example of an initiative designed specifically to address the leadership development needs of millennials. Deloitte tailored this program to focus on aspects that resonate strongly with their millennial employees, such as a desire for purpose-driven work, flexibility, and continuous learning opportunities.
By pairing younger employees with seasoned leaders, the company uses mentorship to enhance leadership skills. The program also offers hands-on opportunities through challenges and projects that reflect real-world scenarios, helping participants apply their skills effectively. Through flexible learning structures offered across various learning formats, Deloitte caters to millennials’ desire for autonomy and ongoing development that is convenient and accessible.
Moss shares her thoughts on developing millennial leadership through an intentional, tailored process: “If we consider what we’ve learned about millennials, specifically where their potentials lie and what’s important to them, organizations can focus their efforts on developing tomorrow’s executives quickly and cleverly.”
One effective way to close the leadership training gap is through mentorship and coaching programs. Connecting millennial employees with experienced leaders offers personalized guidance and support that fits the learning styles of this generation. These programs allow millennials to learn from seasoned professionals while creating a sense of belonging within the company.
A one-size-fits-all approach to leadership training doesn’t work anymore. Organizations should create programs that meet the specific needs of Millennials. By designing relevant training that aligns with millennials’ career goals and using more interactive and technology-based learning methods, companies can keep them engaged and help them see a clear path for personal growth.
Apart from traditional classroom training, companies should also offer hands-on learning experiences for millennials, as Deloitte’s program does. This could include job shadowing, working on different projects across departments, or participating in short-term leadership roles.
Millennials thrive when they receive regular feedback and opportunities for growth. Companies can empower millennials to take charge of their professional development by promoting open communication and a culture of continuous learning.
Millennials often prefer working in teams to solve problems. By creating opportunities for them to collaborate on projects and tackle complex issues, organizations can help develop collective leadership skills, together. This not only improves their decision-making and strategic thinking but also builds soft skills like communication and teamwork, which are essential leadership capabilities.
John C. Maxwell once wrote, “Leaders must be close enough to relate to others, but far enough ahead to motivate them.” Millennials, known for their personal approach and people-centered values, show vast potential as leaders who can relate to others while pioneering the way forward.
“This generation was raised in perfectly imperfect conditions,” says Moss. “Their natural abilities are exactly what is needed today. What they need is someone to show them how to use those abilities as leadership tools. If we can close the leadership training gap for millennials and fast-track their success, the world will be better for it.”