A chance meeting with a frustrated young manager recently led to an interesting discussion about the ‘changing of the guard’ at the company where they work. Their company has been acquired by a much larger one. Apparently, it was a strategic purchase that provides the new owners with lots of opportunity to ‘maximise synergies and improve efficiency’’. Hmm, the Badger immediately thought having lived through this kind of thing several times. The youngster was frustrated because the acquiring company had injected new, inexperienced management whose dominant priority seemed to be procedural and administrative rather than ‘business’.
The youngster was irritated that the ‘changing of the guard’ had led to reporting to others of similar age who were opinionated, procedural, and intransigent, but fundamentally lacking in knowledge, relevant expertise, and experience. The youngster felt ignored and belittled. The Badger advised calm, objectivity, and not to rock the boat in the short term, but to have game plan to look after their personal interests if things were not really going to work out. The youngster had one and was already executing it!
‘Changing of the guard’, of course, happens all the time in business and wider life. It is a perpetual reality. It does not, however, always put the right people in the right positions, nor does it mean that better decisions will be made. As recent items from City A.M and the IET highlight, we are in the throes of ‘changing of the guard’ today, with millennials – broadly those under 40 – beginning to take the leadership helm in business and across society. Millennials are wholly digital-native, and have attitudes, expectations, beliefs, and an impatience to redefine the status quo that has been shaped by ‘information age’ technology, the impact of the 2008/9 financial crash, and the COVID-19 pandemic. As they progressively take the helm, it is safe to assume that they will focus on addressing their complaints about the situations left by preceding generations.
But will things be better in their hands? With millennials often labelled as volatile, fickle, easily offended, over-emotional, work-shy and dominated by social media, it is far from a certainty. Every generation thinks they know best, and every generation makes mistakes which the next one complains about. It will be no different for millennials! Reading the World Economic Forum’s most recent Global Risk Report highlights soberingly that we need the world to improve in the hands of the millennials, but evidence that it will is sparse so far. We need our millennial generation of leaders to be focused, resolute, have a strong work ethic, and to take real responsibility and accountability because ‘changing of the guard’ to a cadre of over-emotional, unrealistic, handwringers will just make matters worse. It is time for millennials to step up and really show that the labels used to describe their generation in the past are wrong.