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  1. 1. Beyond Generation Y? Expectations of future leaders entering the labour market – a European-wide survey Wolfgang Mayrhofer, WU, Austria Carlos Obeso, ESADE, Spain Odd Nordhaug, Norwegian School of Economics and Business, Norway
  2. 2. Point of departure <ul><li>Recruiting experience: potential new employees seem to ‘tick’ in a different way </li></ul><ul><ul><li>Changing career landscape </li></ul></ul><ul><ul><li>Changes in the relationship between individual and organisation </li></ul></ul><ul><ul><ul><li>Less long-term relationships </li></ul></ul></ul><ul><ul><ul><li>More careers outside/alongside organisations </li></ul></ul></ul><ul><li>Global players compete for scarce human resources, especially ‘high potentials’ </li></ul><ul><li>It is comparatively easy to find ‘spectacular’ examples of individuals where new developments are concentrated, but… </li></ul><ul><li>Do we see anything ‘significant’ in individuals following a quite traditional path of professional development? </li></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  3. 3. The study <ul><li>CEMS-L’Oreal fellowship </li></ul><ul><ul><li>takes a closer look at CEMS-students from the CEMS Master‘s International management program as part of the pool for future leaders </li></ul></ul><ul><ul><li>Paints a portrait of these students </li></ul></ul><ul><li>Quantitative analysis </li></ul><ul><ul><li>questionnaire: 339 students </li></ul></ul><ul><ul><li>Response rate 26% from 37 countries; 53% male, 47% female; average age 24; 37 countries </li></ul></ul><ul><li>Qualitative work </li></ul><ul><ul><li>34 interviews at ESADE and WU campus (15 men, 19 women, 16 different countries, average age 23) </li></ul></ul><ul><ul><li>Categorical content analysis </li></ul></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  4. 4. Identity
  5. 5. Identity <ul><li>Nationality </li></ul><ul><ul><li>Own nationality plays a role </li></ul></ul><ul><ul><li>On deeper reflection and after exposure to other national cultures a broad supranational identity can be developing </li></ul></ul><ul><ul><li>Being European no strong category for their identity </li></ul></ul><ul><ul><li>But used as a label by people from other parts of the world </li></ul></ul><ul><ul><li>Local identification (Bavarians, Catalans etc.) very rare </li></ul></ul><ul><li>Collective identities are very weak (class structure, religious groups, political party, Ideology…) </li></ul><ul><li>Show little interest in “grand concepts”: the definition of man as a “political animal” does not apply </li></ul><ul><li>Background and personal history allows them to pick from many sources to build an identity </li></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  6. 6. Expectations towards organisations and work
  7. 7. Role of work in one‘s life <ul><li>Work is important and plays a major role </li></ul><ul><ul><li>Prepared to work a lot: if inheriting enough money </li></ul></ul><ul><ul><ul><li>12% would do other things than work </li></ul></ul></ul><ul><ul><ul><li>20% would still choose to work for an employer </li></ul></ul></ul><ul><ul><ul><li>68% would prefer to run a business </li></ul></ul></ul><ul><ul><li>Work has a moral meaning </li></ul></ul><ul><li>Work-life balance is important but aware of a trade-off between the spheres </li></ul>C. Obeso/W. Mayrhofer/O. Nordhaug ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  8. 8. Characteristics of first job and employer – ranking of importance <ul><li>More than 9 Mean SD </li></ul><ul><li>(JP) Interesting work 9,37 0,981 </li></ul><ul><li>(JP) Good opportunities to develop competence 9,16 1.085 </li></ul><ul><li>(JP) Opportunities for personal development 9,13 1,273 </li></ul><ul><li>Between 8 and 8.99 </li></ul><ul><li>(WP) Good social relations among colleagues 8,93 1,260 </li></ul><ul><li>(WP) Opportunities to work abroad in periods 8,69 1,535 </li></ul><ul><li>(JP) A lot of variety in work tasks 8,60 1,341 </li></ul><ul><li>(WP) The employer has a good reputation 8,31 1,297 </li></ul><ul><li>(WP) High annual earning salary 8,21 1,452 </li></ul><ul><li>Between 7 and 7.99 </li></ul><ul><li>(WP) Good personnel policy 7.86 1,569 </li></ul><ul><li>(JP) Opportunities for getting fast promotion 7,83 1,778 </li></ul><ul><li>(JP) A lot of freedom in the job 7,68 1,592 </li></ul><ul><li>(WP) Pay based on individual performance 7,53 2,018 </li></ul><ul><li>(WP) Systematic career planning 7,41 1,955 </li></ul><ul><li>Between 6 and 6.99 </li></ul><ul><li>(JP) The position has a high status 6,93 1,961 </li></ul><ul><li>(WP) High job security 6,88 2,050 </li></ul><ul><li>(JP) Flexible working hours 6,82 2,208 </li></ul><ul><li>(JP) Large amount of project work 6,30 2,063 </li></ul><ul><li>Low </li></ul><ul><li>(JP) Opportunities to work at home 4,81 2,717 </li></ul><ul><li>Scale from 1-low to 10-high </li></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  9. 9. Expectations towards work <ul><li>Give-and-take relationship with a more short-term focus </li></ul><ul><li>Work has a meaning if it’s related to individual competence development </li></ul><ul><li>Varied work content is of paramount importance </li></ul><ul><li>Work must be “meaningful” in term of results </li></ul><ul><li>Action and results must be perceived as “morally clean” </li></ul><ul><li>Individual responsibility highly valued </li></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  10. 10. Expectations towards work <ul><li>Less emphasis to freedom in the jog: Structured freedom </li></ul><ul><li>Don’t react negatively to leadership: being managed through trust and empowerment </li></ul><ul><li>A good place to work is not just a nice place but a challenging, positive and results oriented environment: To have fun just for the sake of it is not an issue </li></ul><ul><li>To gain recognition and admiration on the immediate work environment (family-like reward system) </li></ul><ul><li>Status and job security ranked low </li></ul><ul><li>Transactional and not relational relationship </li></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  11. 11. Views on careers
  12. 12. View on careers <ul><li>Associated with progression, e.g. learning as a life-long process and hierarchical advancement or improved responsibilities </li></ul><ul><li>Career takes also place outside organizations </li></ul><ul><li>See themselves in a management position and often predetermined to become CEO </li></ul><ul><li>Internal locus of control </li></ul><ul><ul><li>faith in competencies </li></ul></ul><ul><ul><li>recognition of efforts to achieve goals </li></ul></ul><ul><ul><li>great degree of self-confidence </li></ul></ul><ul><li>Little emphasis on networks </li></ul><ul><ul><li>assumption: we have it </li></ul></ul><ul><ul><li>family ties matter greatly </li></ul></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  13. 13. Career aspirations configuration of actors coupling to organisation tight loose stable unstable Company World Self-employed Chronic Flexibility Free-floating professionalism want to be under contract to one or a few organisations for special and challenging tasks, staying with the same organisation only for a limited time aspire to a “freelancer” career with different projects for various clients and ever-changing work contents seek “traditional“ self-employment, i.e. offering a range of quite standardized products and/or services to a relatively stable clientele strive for a position of responsibility and influence and a long-term career within one organisation 49.5% 34.1% 4.8% 11.6% Iellatchitch et al. 2003 ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  14. 14. Career aspirations <ul><li>Only half of the respondents opt for company world </li></ul><ul><ul><li>Recruitment crisis? </li></ul></ul><ul><ul><li>Still a solid part of the overall population </li></ul></ul><ul><li>Other half opts for career outside/alongside companies </li></ul><ul><ul><li>Temporary relationships, “ Staying for a brief period in time – then I wouldn’t exclude any places”, RJ </li></ul></ul><ul><ul><li>It seems difficult to ‚bind‘ these people long-term to the company </li></ul></ul><ul><ul><li>Corroborates with the emphasis on job/position and not so much on workplace/employer </li></ul></ul><ul><li>Free-floating professionalism very attractive </li></ul><ul><ul><li>Building elements of this into classic organisations? </li></ul></ul><ul><ul><li>Are organisations able at all to get these people long-term? </li></ul></ul>W. MAYRHOFER/C. OBESO/O. NORDHAUG ivm@Athens 2010
  15. 15. Implications for the corporate world
  16. 16. Finding your USP in recruiting <ul><li>What do you “sell” as an organisation when trying to attract highly-qualified individuals who are in high demand in their early career? </li></ul><ul><li>Possible approaches </li></ul><ul><ul><li>Emphasise the capacity of your organisation to emulate a setting characterised by a concrete series of projects and short-term career episodes compatible with different career aspirations; </li></ul></ul><ul><ul><li>Refrain from primarily selling the organisation, instead focusing on the tasks and projects you can offer. </li></ul></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  17. 17. An illustration The Economist, March 6, 2010 ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  18. 18. Relationship building <ul><li>How do you mould the relationship between the organisation and these individuals? </li></ul><ul><li>Possible approaches </li></ul><ul><ul><li>As a starting point, acknowledge that they are highly mobile at least in the beginning of their careers </li></ul></ul><ul><ul><li>They are constantly looking for a better deal where they can get out the most for their future career – don’t necessarily expect them to be with you in the long run </li></ul></ul><ul><ul><li>Enter into a relaxed quid-pro-quo relationship where both sides – for the time being – enter a rewarding relationship by investing what they can offer </li></ul></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  19. 19. Rewarding and incentives <ul><li>How do you reward these individuals with a high demand of feedback and recognition? </li></ul><ul><li>Possible approaches </li></ul><ul><ul><li>Provide a sound material basis as well as ways of making them feel like a member of the family, e.g. by emphasising work-related personal relationships </li></ul></ul><ul><ul><li>Give them the spotlight they need, e.g. by explicit social recognition of performance </li></ul></ul><ul><ul><li>Offer clear benefits in terms of development of career capitals, e.g. technical and social competences, contacts and networks and future career opportunities </li></ul></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  20. 20. Leadership issues <ul><li>How do you lead this generation of future leaders? </li></ul><ul><li>Possible approaches </li></ul><ul><ul><li>Refrain from “talking the talk” before you are not able to “walk the walk” </li></ul></ul><ul><ul><ul><li>sparse use of grand concepts, career plans, mission statements </li></ul></ul></ul><ul><ul><ul><li>emphasis on leading by example; </li></ul></ul></ul><ul><ul><li>Make honest (“no bullshit”) and constant as well as thorough feedback (e.g. 360-degree appraisals) an integral part of your organisation’s leadership style </li></ul></ul><ul><ul><li>Use the readiness of these individuals to work hard by providing them with the opportunity to make a difference which is important to the organisation and to them </li></ul></ul><ul><ul><li>Try to build a strong sense of joint mission for the tasks or projects at hand </li></ul></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  21. 21. Performance – the project ‚Me‘ <ul><li>Readiness to work hard </li></ul><ul><li>Taking into account organisational goals </li></ul><ul><li>Primary importance: personal and competency development through </li></ul><ul><ul><li>interesting work and </li></ul></ul><ul><ul><li>embeddedness in a peer network at work </li></ul></ul><ul><li>Nevertheless, high income and hierarchical advancement important as expression of recognition </li></ul><ul><li>Private life has high value </li></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG
  22. 22. <ul><li>o. Univ.-Prof. Dr. Wolfgang Mayrhofer </li></ul><ul><li>  </li></ul><ul><li>Interdisziplinäre Abteilung für Verhaltenswissenschaftlich Orientiertes Management </li></ul><ul><li>  </li></ul><ul><li>WU </li></ul><ul><li>Wirtschaftsuniversität Wien </li></ul><ul><li>Vienna, Austria, Europe </li></ul><ul><li>  </li></ul><ul><li>[email_address] </li></ul><ul><li> </li></ul><ul><li>tel. ++43-1-313 36-4553, fax ++43-1-313 36-724 </li></ul><ul><li>Postal address: Althanstrasse 51, A-1090 Wien, Austria, Europe </li></ul>ivm@Athens 2010 W. MAYRHOFER/C. OBESO/O. NORDHAUG