White-collar workers of the Gen Z and Millennial generations are showing a desire to become leaders in the workplace, according to new research from global real estate advisor, CBRE.
CBRE recently conducted a survey that canvassed the views of more than 750 Gen Z and Millennials across the UK on their workstyle preferences.
Almost three-quarters (74%) of respondents expressed business department leadership aspirations, and when asked what their motivations were, 62% said that they want to develop their career and receive the financial rewards. When asked about their plans to reach C-suite level, 64% of respondents said they wanted to achieve this or were already in the position.
Alongside leadership ambitions, respondents also demonstrated a willingness to commit to one firm. A third of Gen Z and Millennials said it was never too long to stay in one job, defying popular belief that younger generations are more likely to move employer more often.
However, aspirations differ based on gender. A higher proportion of men than women want to become leaders at both business department and C-Suite level, with 30% of women stating that they do not want the pressure of a senior role. Conversely, only 7% of men gave the same response. Furthermore, only 9% of men said they had never considered a C-Suite role compared to 17% of women, citing work life balance as the key deterrents.
“The research tells us that the number of women wanting senior positions decreases as the seniority level increases. This proves problematic as we know that companies with leadership groups that are rich in diversity are more attractive to the future workforce. We need to be asking ourselves what more can be done to keep the right people in key positions,” said Georgina Fraser, Head of Human Capital Consulting, CBRE UK
When asked what their peers say is the best feature of their working environment, respondents said flexibility was the number one priority at 38%, reinforcing the importance of choice with leaders of the future. This was followed by rewards and benefits and career development, at 31% and 29% respectively.
Nevertheless, CBRE’s research identified nuances between Gen Z and Millennial respondents when asked about the features of the working environment. Millennials identified wellbeing as a higher priority, placing in their top five, however Gen Z said that leadership was a higher priority, featuring in their top five.
Despite these differences, Gen Z and Millennial workers were aligned on their wants to have access to a workplace outside of the home. An overwhelming majority (79%) of respondents said that they like having an office to go to, citing team interaction, location, and a dedicated workspace as the top three reasons.
“When overall remuneration can be hard to distinguish between competitors, what can companies offer that gives them the edge in attracting and retaining the best talent? Our findings tell us that offices, and workplaces more broadly, are now a fundamental talent attraction and retention tool and can deliver competitive advantage in the overall employee value proposition,” said Georgina Fraser, Head of Human Capital Consulting, CBRE UK.
