The Millennial generation continues to reshape the climate of corporate America. The impact is so large that by 2025, 75 percent of the workforce will be composed of Millennials. It’s clear: This employee population is here to stay. As a result of the generation’s continued growth within the workforce, traditional organizational models and theories need to be revised to accommodate Millennials. This includes laying a foundation that would support their ambition for growth and promotion dominantly found within the generation. But it turns out that Millennial women have different perceptions of leadership positions than Millennial men. The more we learn about this generation, the more we understand how to create an environment within which Millennial women can not only work, but also thrive.
Leader Skill and Will
Women represent 50 percent of the Millennial population and have demonstrated some different traits from their male counterparts. These traits fall onto opposite sides of the leadership scale. On one side is effectiveness once in leadership positions; on the other is willingness to step into leadership roles. As all learning professionals know, both skill and will are critical in reaching maximum performance as a leader.
To address one side of the scale, effectiveness, I reference the Zenger Folkman’s 2012 research on leaders. Zenger Folkman has been described as the authority in strengths-based leadership development and uses 16 competencies to measure a person’s effectiveness in leadership. The company found that gender is a contributor to leadership effectiveness: Women scored higher in overall leadership effectiveness than men. Furthermore, companies with higher numbers of women at senior levels report improved organizational and financial performance compared with those with men at senior levels.
A leader’s skills are useless without the will to use them. The Zeno Group conducted a 2014 survey of 1,000 Millennial women ages 21 to 33, focusing on leadership ambitions. Interestingly, the survey showed that only 15 percent of the participants indicated they have an interest in leading a large organization. Such findings contradict the overall generational traits of high ambition and the desire for organizational growth. The disconnection is rooted within the perception of leadership.
Perception of Leadership
Multiple studies have indicated that Millennial women associate leadership positions with personal sacrifices such as postponed family planning, loss of individualism, and a decreased work-life balance, which they are hesitant to make. Millennial men do not report viewing the same personal sacrifices attached to leadership roles.
Women business leaders are perceived as having compromised authenticity and family life to achieve success. This perception negatively affects the drive for equality within leadership roles across the country. In a 2014 study, Bentley University found that only 26 percent of women make up senior management positions within the United States. Moreover, less than 3 percent of Fortune 500 companies have women in the highest level of the organization. Organizations need to change the perceived personal sacrifices attached to leadership roles to help achieve equal representation amongst leaders—for example, by increasing visibility of women leaders and revisiting organizational policies.
Increase Visibility of Women
Leaders Simply put, Millennial women need to see more women in leadership roles. Perception drives reality; therefore, if Millennial women don’t see other women in leadership roles, it is driving a negative perception. One way to establish visibility channels within the organization is to start a mentoring program for all levels of leaders. Mentoring does not always have to be a formal process between certain levels of leaders. Instead, look for community spaces or events to foster and promote visibility that complement mentoring opportunities.
Revisit Organizational Policies
Many personal sacrifices communicated by Millennial women are related to family planning and work-life balance. It would be in a company’s best interest to revisit policies concerning these two topics, such as paid maternity leave, flexible working hours, remote working locations, and on-site daycare or health facilities. Most importantly, companies can analyze their organizational culture to see if the policies in place are actively enhancing or hindering the employee experience.
Moving Forward
Millennial women have the ambition to be great leaders. Research indicates women in leadership roles drive higher financial gains for organizations, and women rate equal or higher than men in leadership traits. The limited visibility of women in leadership roles and outdated company policies are driving Millennial women to opt out of leadership opportunities. Organizations need to address these two areas to promote equal representation among leadership positions, which will positively affect not only organizations, but also society in general. Perception is reality: Change the perception, and you change the reality.
