I came across a fascinating survey in Knowledge at Wharton’s most recent newsletter. The survey by Families and Work Institute, a non-profit organization, found fewer people interested in reaching the top rungs of corporate America. Most of the research that I have done over the past few years also found many rising executives losing interest in pursuing the corner office. Continual corporate scandals and heightened public cynicism about business leaders has not helped make the corner office any more attractive either. This trend is disturbing. The global economy that we can all benefit from depends on having the right generation of leaders. What are we to do?
In FWI’s research titled “Generation & Gender,” they found that the following:
In 1992, nearly seven out of 10 (68%) college-educated Gen Y, Gen X and boomer men wanted to move into higher responsible jobs. In 2002, the figure was only one out of two (52%).
In 1992, nearly six out of 10 (57%) college-educated Gen Y, Gen X and boomer women wanted to move into higher responsible jobs. In 2002, the figure was only one out of of three (36%), a considerable decline and much lower than the 52% found among the male sample.
When FWI did further research into whether this trend existed among executives of the very top multinational companies, a similar pattern surfaced. According to FWI’s VP Lois Backon and quoted in the Wharton newsletter: “Of those leaders, 34% of the women and 21% of the men said that they have reduced their career aspirations.” Reasons put forth included the “negative spillover from their jobs to their homes.” Balance is getting to be near impossible.
While I am on the subject, Fortune recently profiled Pepsi’s new CEO Indra Nooyi, an amazingly talented woman, in its 50 Most Powerful Women In Business issue and I was struck by the following: “The only thing that Nooyi, a mother of two daughters, does not pursue with gusto may be balance. ‘I work hard or work harder,’ she has said, classifying the concept of balance, at least as it applies to her, as ‘for the birds.’”
Sounds like work/family balance is going to be the greatest barrier in the war for talent over the next several decades. Since I am writing this on Sunday evening instead of relaxing with my family, reading the newspaper and cooking dinner, I feel I know what Indra is talking about.
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