As more and more millennials become a part of the existing workforce, a contemporary need to redefine the c-suite emerges, with a requisite to make way for millennial leaders. The paradigm of business hierarchies is shifting, and millennials are uniquely equipped to evolve to such changes.
As a generation bred for innovation, the advantages of hiring millennials for executive roles are unparalleled.
Statistics show that the leadership crisis is real—so real, in fact, that nearly 50% of recently-promoted managers fail in the first eighteen months of employment (source: Leadership IQ). Worse yet, this failure rate is expected to be higher, some say as high as 75%. According to a report by Challenger, Gray & Christmas, our outplacement partners based in Chicago, there have been 1,107 CEO departures so far this year.