Success is Never Final. Failure is Never Fatal. It’s Courage that Counts. – Sir Winston Churchill
In November, we are delighted to announce the release of the book “Time for New Leadership in Hospitality” which explores the need to free up younger generations into leadership roles and to understand some the dynamics impacting on business all across the world.
The book is based on over 100 interviews with hospitality leaders from all across the globe. It is also designed to pose questions to, and to challenge, the reader as to their own views on the need for change?
It is a remarkable statistic that notes that the average CEO of 2019 was born in the same year as the CEO of 2005. This does make the simple point that leaders have remained in post for longer than ever before. Whether right or wrong, it naturally creates a barrier to upward career mobility for many so it is understandable that many have become disengaged with the workplace and have sought alternative roads. Is it a coincidence that the age of the average entrepreneur has also increased to be in their 40s?
Is it also any coincidence that the Deloitte’s report on Millennials notes that the majority do not believe in the business ethics employed within their own companies? Why does this gulf exist and what can be done to bridge it?
Leadership too has changed in character. One only needs to listen to the discussions this week surrounding the Government to understand just what is desired and being sought. Is it a coincidence that two men in their 70s are fighting out the US Presidential Elections? Whoever said age resulted in competence? Arguably some of the greatest leaders in modern times came to power in their forties – Blair (43), Kennedy (43), and Obama (47) are examples. Thatcher was only 55.
Whatever one’s views, it is surely important that the young do see positive career routes, the opportunity for upward advancement and have the chance to become leaders.
The truth is that the years of leadership by the baby boomer generation are moving toward their natural conclusion. It will result in a shift from one of the most successful business generations ever to that of the millennial’s generation: a generation that has been heavily critiqued and is seen to be unproven, untested. Yet there this an exciting prospect as they are progressive and aspiring to see a better world. They have a belief in sustainability in communities, in culture, in business, and environment.
Both generations should work together to ease the way, but the chasm between the generations is currently too large. Strangely enough, the differences are not as large as they may appear. The millennials, in truth, are only a reflection of the baby boomers who have heavily influenced them. Both generations began their journeys with strong ideals. The baby boomers compromised in line with the challenges that they faced, but still raised another generation stressing the ideals that they still held close to them, so a bridge should be able to be built. How can this be achieved?
If you are interested in learning more about the book, please email email@example.com