Why invest in young up-and-coming managers? Over the past few weeks, I have conducted over 40 interviews with young and long-serving team and department heads from various industries. I asked them what they struggled with most at the beginning of their careers as young managers.
Many things were confirmed to me:
- Young managers with first-time personnel responsibility want to leave their footprint.
- They want to improve their area.
- They want to shape things and have fun at work.
- They want to exceed the specified figures.
- They want to shine and prove themselves.
- They want the unconditional respect of their team.
- And they want to be able to enjoy and live out their professional and private lives in equal measure.
On the other hand, they have to deal with a number of challenges that give them sleepless nights and stomach aches and sometimes end in panic attacks:
- They don't know exactly what they are allowed to decide. This is not sufficiently documented in organizational charts and job descriptions.
- They are afraid of making the wrong decision because the company culture does not accept mistakes and, in the worst case scenario, they may even be pilloried.
- They are overwhelmed by the task of getting all employees on board and keeping them in line.
- They don't know exactly how to adequately pass on instructions from upper management to their team, let alone implement them.
- They don't dare to ask their superiors for help because they don't want to admit their own ignorance and mistakenly assume they need to know everything.
Some of the information really surprised me. And I don't want to withhold the following from you:
Young managers are prepared to change companies again after 1-2 years if they don't
- are not given the creative freedom they want.
- They do not receive the support they need from their superiors.
Now you might be thinking: "But it was no different for me. 25 years ago, I was also thrown in at the deep end and learned to swim! I was asked by my boss if I wanted the job. I said yes and that was it. I had to painstakingly learn everything myself. Why should it be any different now?"
Yes, why actually? People, working conditions, attitudes and requirements have changed. The world has moved on.
Very few people consider how much know-how, money, productivity and motivation flows away when a young manager says "goodbye".
An example?
Let me take a master electroplater who started his new job a few months ago, full of enthusiasm and drive. He wants to change a lot. Introducing new technological things. Thinks about digitalization. Thinking about new processes. Because he has excellent technical training. He has made it. He leads a young team, is popular and has the necessary drive.
A few months later ...
He is slowly being torn apart because he has to manage the balancing act between the technical know-how of how the electroplating plant should function, REACh, exploding electricity costs and employee management: he realizes that it is not enough to "just" write the duty rosters.
He is also suddenly confronted with the fact that he is dealing with people. But they don't work at the push of a button - just like his electroplating plant.
The long-established employees don't want to give up the benefits they have earned and fought for. Perhaps they think to themselves "what does the young "bouncer" want to tell us? We'll just sit this one out."
The young ones want to change something. They simply won't accept "we've always done it this way". Our young master electroplater has a great sense of responsibility and wants to please everyone. The pressure from above is immense, because the throughput has to be right. Figures have to be achieved and productivity increased.
Things are slowly getting tight in this dilemma. He feels torn.
Unfortunately, he is not getting the support he so desperately needs. He doesn't know where to turn. Who he can ask. And suddenly a much more financially attractive offer flutters into his inbox from a competitor.
He thinks about it. Accepts it. And leaves.
There are studies that say that the turnover costs for a manager who leaves the company after 9-12 months are estimated to be 2-3 times the annual salary.
Let the following figures melt in our mouths: The turnover costs for a change of a young up-and-coming manager in the electroplating industry are therefore between 130,000 and 200,000 euros. A very conservative estimate - a sum not to be sneezed at.
And in times of a shortage of skilled workers, efficient and confident managers are in short supply.
A rethink has taken place: For the baby boomer generation, it was quite normal to start your training in a company and also retire there after more than four decades.
A rethink has taken place.
Generation Z, from which the new up-and-coming managers come, is self-confident. They want to develop themselves further. And they are prepared to change jobs regularly - even after just 1-2 years - if the conditions and development opportunities in the company do not meet their expectations.
So what to do?
When decision-makers invest in the training of a young up-and-coming manager, they show their appreciation and trust. They also signal that they believe in their potential. The young manager is motivated and willing to continuously reflect on and improve their own personal skills. To further develop their own soft skills.
What other benefits do decision-makers have when they invest time and money in the development of their young management team?
- A company secures a stable management level for the future. This is because well-developed, young talent has the potential to lead a company successfully in the long term. And to further develop and, if necessary, expand it.
- Young up-and-coming managers ensure innovation and progress in the company. They are familiar with the latest technologies and trends and know how to deal with them. They are not afraid of digitalization and take advantage of its benefits.
- Investing in young managers increases the company's attractiveness as an employer and promotes employee loyalty. And simplify the search for new employees.
- A young manager gives the company a competitive advantage. This is because they are prepared to think outside the box and thus solve new challenges in a more agile way. And thus make the company more adaptable.
On the other hand, there are of course concerns: developing a young manager costs time and money. And it is debatable how much a well-trained junior manager can contribute to business success. It is often argued that there is no need for a new manager. And nobody likes to admit that they don't have the necessary expertise or resources to support someone in the medium term. And sometimes it also seems easier and more cost-effective to hire an established manager from outside.
Conclusion:
The advantages for operations managers and for decision-makers of accompanying young managers well, especially at the beginning of their careers as team leaders, coaching them, offering them training, far outweigh the cost and time involved.
Plant managers benefit from the fresh ideas, creative approaches and new perspectives of young managers. They are familiar with the latest technological developments. They are very familiar with digitalization. Thanks to their training or studies, they are more familiar with dealing with other cultures and therefore with interdisciplinary teams. They can adapt quickly to new situations and are willing to think outside the box and open the door to new opportunities.
My offer to you today:
As a decision-maker, get professional support from outside for the development of your junior managers. It will take the pressure off you and give you a manager you can rely on.
On 1.11.2023, the 12-month mentoring program "Toolbox for young managers" from practice for practice will start for the last time in 2023 for a limited number of 12 participants.
I recommend that you apply quickly, as places are limited:
https://think-doll.de/mentoring-programm/
