50 Stats & Facts For Future Leaders
Are you a young professional with ambition who’s set their sights on the CEO’s office? If this description resonates with your goals, you know that educating yourself is incredibly important. It’s one of the things that will help you become a true leader in your field. Learning is a skill that is even more important in today’s changing workplace. We compiled 50 facts that can help the leaders of tomorrow (and today) make better decisions.
3 employee stats everyone should know
79% of employees would consider quitting their jobs if they did not get recognition or appreciation from their leader. This shows how good leadership has an enormous impact on employee retention, happiness, and morale.
69% of Millennials believe that there is a distinct lack of leadership in today’s working environment. They also believe that lack of leadership is a direct contributor to lack of development.
91% of millennials will stay in a job for less than three years. Unfortunately, a lot of this comes down to poor leadership, which leads to poor development and poor morale. Lack of opportunity is another driving factor for why millennials don’t remain in positions for long.
Why are young leaders important in the workplace?
Young leaders are wired to embrace change. This means that they’re capable of putting a lot of ideas on the table, and in many cases, they’re more optimistic about the future. Young people are also skilled when it comes to inspiring others, and they get excited about accomplishing any objectives.
Whereas older workers tend to lead by pushing, young employees lead by pulling. This type of behavior allows for more inspiration when compared to more experienced colleagues. Young leaders are also far more open to feedback, and their curiosity leads them to ask more questions about what they’ve been told. Older workers are less likely to ask for feedback when it comes to a certain task or their job performance in general. Younger leaders are also much more likely to push for improvement and challenge the way that things need to be done.
Leadership Development Facts
83% of companies believe that leaders should be developed at all levels within a company - not just at the highest level. If leadership is only present at the highest level, then only the higher-level employees will grow and develop.
Only 5% of organizations have leadership development integrated within their company.
Employers in the United States spend a lot of money developing the hard skills of a worker through training and education. But, even though 83% of people agree that developing employee leadership skills is crucial, only 5% of companies implement these kinds of training programs.
63% of millennials believe that the leadership skills they have are currently not being developed as much as they could be.
71% of millennials have stated that they would leave their job in 3 years if they felt as though their leadership skills were not being developed.
Only 14% of company CEOs believe that they have the leaders they need to grow their company.
Why is leadership development important?
Leadership development programs have huge benefits both for the organization as well as individual teams. Firms are only now starting to realize that leaders play an outsized role when it comes to an organization’s efficiency. Organizations that have invested in leadership development have seen a positive impact on recruitment as well as the retention of employees. Leadership development equips any leader with the skills they need to enhance the productivity of their team overall.
Increased employee engagement is easily achieved through development programs because it helps map out a clear path for employees. It also establishes role models for future leaders and reduces leadership gaps - a major issue right now. Development programs have a proven impact on employee and corporate culture by building and sustaining optimism throughout the company.
Digital Leadership Facts
The need for digital leadership will grow, but currently, only 16% of companies consider their digital marketing efforts successful.
The rapidly evolving state of social media is going to result in the need for candidates who possess digital skills.
With digital development a primary focus for employers, the nature of the workforce is going to change. Millennials will make up 75% of the workforce by the year 2025.
A digital world needs digital leaders.
A great digital leader will often understand the importance of inbound data in addition to the processes that support the company. They will place a high value on new skills such as creativity, willingness, communication and technology. We live in an ever-changing world, and digital leadership can help make rolling out new technologies or products easier. It can also help ensure that any existing legacy applications are maintained as they should be.
Mental Health and Leadership Facts
80% of workplace accidents happen as the result of stress. And a negative work culture is a primary cause of stress in the workplace.
Only 5% of employers currently offer a wellness program to their team.
Disengaged employees cost companies $550 billion annually.
For every dollar spent on a wellness program, $3.30 dollars are saved in healthcare.
Companies with good workplace wellness programs report an increase in productivity of over 66%.
15% of candidates have turned down job offers because they believe the company has a poor or negative working culture.
70% of employees in the United States are currently unhappy in their position because of negative management.
Stress burnout costs $190 billion in the US - every year!
Overworked employees tend to feel depressed, unmotivated and lethargic. The statistics show that those in leadership positions also experience burnout.
20% of employees are at a higher risk of burnout due to poor leadership.
Employees who experience burnout through poor leadership or bad working conditions are 63% more likely to take sick days.
90% of millennials feel overworked and have fewer working days.
Empathy & support can be your competitive advantage.
Leaders need to care for their own mental health so that they can better recognize when their team members are suffering. When you’re stuck in the mud, fearful, or stressed, it’s more difficult for you to feel empathy for other people. But empathy is the key ingredient that helps a good leader become great. When you genuinely care about your team and understand the perspectives they may have, this helps you build credibility, trust, and even rapport. Being perceptive and receptive allows leaders to understand that body language, attitudes among other intangibles, can alter how an employee responds to a task.
9 things to know about millenials
10,000 baby boomers retire every day, paving the way for millennial leadership roles.
48% of the workforce will consist of millennials by 2020.
67% of millennials are looking for a new job right now.
91% of millennials intend to stay in the job they’re in now for more than three years.
84% of company owners anticipate a leadership shortage in the next five years due to the millennial and baby boomer leadership gap.
43.8 is the median age for those who work in operational roles. Men who occupy managerial positions are two and a half years older than women.
Millennials who work in leadership have revealed that the average age of a millennial manager is between the age of 25 and 29.
Young people are less likely to believe that women are not as capable as men when it comes to leadership.
Young generations show less progressive thinking. 72% of young people who are aged between 18 and 34 believe that women and men are equally competent. Older generations, from the age groups of 55-66, believe that men and women are equally capable at 76%.
Leadership starts on day one.
Millennials are upending traditional leadership roles for a number of reasons. Unlike their older colleagues, they’re more willing to speak out and raise their concerns to superiors. Millennials are also more natural entrepreneurs who pursue non-linear career paths. A lot of these changes stem from the digital revolution that has impacted the workplace and is helping to transform leadership for the better.
What about males versus women?
Women tend to be more resilient leaders. Females stand at 54.7%, and males stand at 49.3%.
Only 10% of CEOs class themselves as being natural leaders able to guide their staff by setting an example.
There is currently a shortage of female leaders in the US, although women make up over 50.8% of the US population.
Females earn 59% of master’s degrees, 47.5% in medical qualifications and 48.5% in law degrees. A strong indication that the leadership gap needs to be addressed.
Only 2.6% of people who work in management are highly engaged.
Emerging trends may provide more roles in leadership to women, given the 25% leadership shortage for women in 2018.
The world needs more women leaders.
In today’s workplace there is little doubt that organizations need more women in leadership positions. Women leaders bring a fresh perspective to new challenges. They also help to add an inspirational goal for women currently working in the organization, something particularly impactful if the workplace is predominantly male-dominated in terms of leadership.
Leadership and Diversity Facts
Black CEOs are at the helm of only four companies on the Fortune 500 list.
Only 3% of Fortune 500 companies have shared their diversity reports. 60% of Black executives believe that they must work twice as hard as their white counterparts to be seen as equal. There isn’t a single Black woman who is at the helm of a Fortune 500 company.
Only 3% of company executives are Latino/Hispanic.
Whites are 154% more likely to hold a leadership position than Asians.
At 85%, White males dominate executive positions.
In 2019, women in leadership roles grew by 5%.
By 2044, it’s said that there won’t be any minorities.
Millennials are 16% more diverse when compared to baby boomers.
The power of diversity
If leadership at a company becomes more diverse, then this helps add more depth to the experience and perspective that people may have. This helps facilitate innovation, which is essential to capturing and then maintaining market share.
Leadership diversity is particularly important, whether this is male and female, age, or even ethnicity because diverse leaders help make organizations run better and more efficiently. The above statistics show that there is a distinct lack of women in leadership roles and that millennials could be the ones to move the needle on this. The statistics also indicate that millennials will change the way that work is approached, helping to ensure that problems and challenges are handled differently and, just possibly, more effectively.