It is said young talent has found its route to leadership roles via SMEs, but does this need to be true?

The above was a question prompted by the fact that, in the US, there is a growing number of Gen Z’s who have started their own businesses which is encouraging in many ways. It is argued that young generations are turning this way as they feel passionate about finding balance and fulfillment in their careers, in a way that many do not feel they can do in corporate environments.

This is supported by a 12% growth in the start-up of new businesses and the rise of digital entrepreneurs. But is this actually true? Or just how it has always been?

One of the great realities that we have often written about is that it is less about young talent being any different to those of the past and instead that many corporates have lost their way in how they develop and empower talent. Many have become far more nervous about giving young talent leadership opportunities.

EP has long had its own senior network of elders and the average when this group first became a director was between 29-30. Back in the 1980s, it was a legitimate ambition to be a director by the age of 30 – so there is little difference.

Of course, there are many who will talk of the work ethics of millennials and Gen Z but, setting aside the patronizing of young talent which may play a role in the general disengagement of many, there are some exceptional young talents emerging who possess strong visions of the future and how they do see how businesses play an active role in society and in communities.

In truth, we possess an exciting opportunity, which if taken, allies the experience and knowledge of the baby boomers with the energy and aspirations of younger generations. We have written about this for the last ten years but maybe it is only now that this may become a reality? But can we take the opportunity?

There was an interesting moment a few weeks ago when we presented to an international forum. We noted that we are about to face the biggest “knowledge” exit that business has known as many directors reach retirement. This has been seen to be a potential problem. Quite rightly, a European senior player shrugged his shoulders and just said “why is it a problem?”

Their point was correct. Why should young leaders be perturbed by senior players leaving the stage? Hasn’t it always been this way, and hasn’t young emerging leaders always found their own answers?

All the above is true. The real shift which is needed is a belief once again in empowerment and giving talent the opportunity to breathe. It can be argued that the worst biproduct of the 2008 crash was that business all became about control and an erosion of vision in the name of profit. The argument about young talent having to find its opportunity in SMEs was maybe true in 2019 but today there is a far more exciting opportunity if businesses can recognize it and do something active about it?

The fairer and more telling question to maybe ask is whether each business has a clear vision which is more than just about profit making? Profit is vital but today, so is a vision for how business plays a positive role in society. It is this which inspires and engages.

Written by Chris Sheppardson, Founder of EP Business in Hospitality