A significant number of senior executives believe young people should be involved in organisational governance to improve decision making with long-term consequences, new research from Griffith University has found.
Despite this broad support, the research found young people remained largely excluded from formal governance in most organisations.
The findings were based on a survey of 3,000 business leaders, board members and C-suite executives across Australia, the United Kingdom and Japan.
Professor Nick Barter from the Department of Management said the study highlighted generational governance as a key mechanism for improving long-term organisational outcomes.
"Continuing to exclude younger voices may limit organisations' ability to future-proof their organisation, ensuring it delivers value for decades ahead and more," Professor Barter said.
"There was a notable increase in the number of respondents who believed the inclusion of young people in organisational governance would be more compatible with achieving net-zero, socially just outcomes, enhanced long-term prosperity and attracting new talent."
The research also identified several perceived challenges to enacting generational governance, including:
- Existing leaders would need to cede some power
- Organisations would need to invest time and resources to ensure younger leaders could contribute effectively at a governance level
- Formalising generational governance would require significant cultural and structural change.
Despite these challenges, respondents agreed generational governance had the potential to strengthen long-term decisionmaking, enhance organisational reputation, and build greater resilience in the face of social, economic and environmental change.
The report Generational Governance: Future Proofing Organisations was published in collaboration with Griffith University, Meiji University and Lancaster University, with funding from the Japan Society for the Promotion of Science.
