Are portfolio careers the natural habitat for the Gen Y population?

by Barrie Hopson on May 29, 2014 · 0 comments

in Future of work,portfolio careers

In our book we were quoting data even 5 years ago which suggested that our chosen career pattern would appear to be very attractive to Gen Y’s.  More data is accumulating that suggests that this connection is growing. A new global report  released by  London Business School , in partnership with Deloitte, showed that high potential employees born in the 1980s and 1990s don’t feel bound to a single employer to ensure career progression with 37 per cent reporting they’d stay no more than two years at one firm. And two-fifths admitted that they are already planning their next career move when they start a new job.

 

The study suggests that employers hoping that talented young workers will stay for the promotion prospects will be disappointed as this motivation to remain takes third place behind work/life balance and organisational culture.

 

Executive education experts at LBS said the findings provide evidence that employers from the baby boomer generation and Generation X have failed to offer benefits that appeal to the high-potential Gen Y employee.

 

Survey results also showed that Gen Y’s goals are quite different from previous generations with only 12 per cent of emerging leaders aspiring to emulate chief executives who focus on how the business is trading.

 

Instead, the development and promotion of innovation is a bigger priority for younger talent, with 34 per cent of those intent on becoming a company leader preferring to take a more entrepreneurial approach to management. An even higher percentage (39 per cent) said they want to be a leader whose aim is to make the company and the world a better place.

 

Richard Hytner, adjunct associate professor of marketing at LBS, said that today leaders have to endure relentless dissatisfaction from shareholders, employers or customers. They must explain and justify their, often unpopular, actions while in the constant glare of the media spotlight. “These leaders occupy a twilight zone of professional and personal trade-offs, leaving little time for the flexing of creative muscles and a more entrepreneurial approach,” he said.

 

“With a later retirement age and longer working life, portfolio careers encompassing roles with ultimate accountability and roles demanding different leadership skills, those of the counsellor, coach or deputy, could be Gen Y’s best chance of securing the variety of experience and work/life balance that is so important to them.”

So there you have it!

 

 

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