How Johnson & Johnson and American Express Are Developing Young Leaders

Over the next decade, approximately 10,000 Baby Boomers will retire every day. This presents a double-edged sword for today’s companies. Young leaders will have substantial opportunity to climb the corporate ladder — by 2030, millennials alone will comprise three out of every four individuals in the U.S. workforce. But companies will increasingly grapple with how to accelerate the development of those individuals for leadership positions. A new research study examined the management and development preferences of America’s young and rising corporate leaders, and showed the growing premium that companies place on high-speed development. The study found that young leaders are willing to leave if they are not advancing, but prefer to stay as long as they’re engaged. In the coming years, America’s labor market will only tighten. Workers will have more leverage regarding where they work, as well as their level of compensation and flexibility for that work. Employers must recognize that they will have to place far more emphasis on cultivating budding leaders with ongoing developmental opportunities that lift both the individual and the organization.