Can Millennials Handle the C-Suite?
The Fox Business article, "Can Millennials Handle the C-Suite?" quotes Russell Reynolds Associates' Dean Stamoulis about our survey on the attributes of c-suite executives and how they differ from Millennials. The article is excerpted below.
Millennials now make up the largest percentage of the American labor force and will eventually become C-Suite level executives at some of the country’s biggest and most influential corporations and businesses.
Russell Reynolds Associates (RRA), one of the leading executive search firms, recently conducted a survey of 5,000 executives and concluded that C-Suite level executives have four necessary attributes: seeking varied activities, being adaptable, trusting others and embracing calculated risk.
While RRA found that existing C-Suite level executives possessed all of these traits, Millennials are lacking in trusting others and embracing calculated risk.
Dean Stamoulis, Head of the Center for Leadership Insight at RRA, told FOXBusiness.com that the most significant factor for a C-Suite executive to have is embracing risk--the same characteristic that Millennials don’t possess. “A certain fearlessness and comfort in taking risk is important to the C-Suite overall,” says Stamoulis.
But Millennials avoidance of risk could become problematic for the future of banking. “In our banking clients, this becomes really nuanced and difficult because of banking executives’ desire for growth, while still having significant regulations.” Stamoulis says that when working with banking clients, RRA has doubled down on the work they do with Millennials to increase their comfort level with risk.
To read the full article, click here.