Generation Y chief executives ‘will transform’ businesses

3405811164_20abdf71f6_oThe first Generation Y chief executive will be appointed to a British FTSE company by 2016, marking the start of a huge shift in organisational culture and business mobility.

Upwardly Mobile, a Deloitte report funded by communications provider EE, claims members of Generation Y (those born after 1980) are frustrated by the absence of a mobility culture in British business. It predicts they will bring about a ‘sea change’ in organisational culture by mobile-enabling daily work processes and routine tasks, enabling employees to respond faster and also boosting productivity and staff engagement.

The report, based on responses from over 1,000 British employees and interviews with 20 directors of big businesses, said currently only a fifth of employees are equipped to work efficiently out of the office. It claimed British businesses have suffered a ‘lost decade’ of mobility with low levels of trust, and technology seen as a security risk and a cost rather than an enabler.

Currently, only 35% of employees in large UK businesses use a smartphone to complete work and only one in five workers consider themselves mobile. These figures are well behind consumer use of mobile devices – by 2016 80% of the population is expected to be using mobile devices to make informed decisions.

Deloitte said Generation Y will make up half of the workforce in Britain by 2016. It said Gen Y leaders tend to have inclusive people-centric management styles and are likely to encourage a diversity of working styles.

“We are approaching a ‘mobility watershed’ where future leaders will demand that organisations make use of mobility in a way that is not evident today,” said the report.

The report also found that 78% of Gen Y workers would value greater use of mobile technology in their company and 52% say use of mobile apps improves their productivity.

Gerry McQuade, chief marketing officer for business at EE, said: “Generation Y makes up half the British workforce and it’s essential that we constantly adapt our work culture, our processes and the technology that enable our employees to work more productively and efficiently. The most important asset any business has is its people – and using the latest technology at work can help attract the best talent.”

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