这是新的高管层的面貌:年龄更大,行业经验更丰富,女性越来越多。
以下是我和同事发现的一些最令人惊讶的发现,这些发现是关于高管层领导者如何随着时间的推移而发生变化的。我和我的合作研究者——罗西奥·博内(rocio Bonet)和莫妮卡·哈莫里(Monika hamori)——自1980年以来一直在追踪世界上最大的公司——《财富》100强(Fortune 100)——领导人的特质,而塑造当今商业格局的许多关键力量正是从1980年开始形成的。
在某些情况下,这些发现似乎相互矛盾。这是因为许多因素正在把商业世界拉向不同的方向。例如,高管们换工作的频率比过去高得多,而且不会在整个职业生涯中一直呆在一个雇主或行业。另一方面,c级高管在职业生涯后期很少跳槽,因为他们在早期经常跳槽。从很多方面来说,如今企业界的稳定程度,远远超出了我们从个别高管套房的勾心斗角中想象出来的程度。
以下是我们的主要发现
The youth movement is over. Our study—which will appear in the California Management Review—found that C-suite executives are getting older. It’s a reversal of a long trend: Executives were getting younger after 1980—with the average age falling six years to 51 in 2001—but now the top leaders are back to where they were in 1980: 57 years old on average.Executives are doing more job hopping. The number of different companies where executives worked, including their current job, rose each decade—to 3.3 in 2021 from 2.2 in 1980, a 50% rise. Likewise, the number of years the executives worked elsewhere before joining their current company jumped by a third, to 15 years, over that same period. As a result, more outsiders are being hired directly into executive roles. In 1980, 9% of C-suite executives fit that bill. In 2021, 26% did. Executives are less likely to be lifers. The percentage of executives who spent their whole careers at one company dropped in every period in our data, especially between 2011 and 2021. Now just under 20% of executives are lifers, less than half the level in 1980 and about the same as in 1900. There is a big exception to that finding, though: legacy companies. These 17 companies—which have been in the Fortune 100 since 1980—have more than twice the percentage of lifers as the others.Eventually, executives do settle down. While executives may move around more early in their careers, when they do settle on a job, they stay there longer. Average tenure in executive roles is now back up to where it was in 1980, close to four years, after falling to two years in 2001. This may have to do with tech companies: As the industry has matured, it has become more stable. (At legacy companies, though, average tenure has dipped to three years from four.)They have broader experience. Executives used to get training in-house in various aspects of the business: operations, finance, logistics and so forth. It was a way for companies to train potential leaders from within, especially important since there weren’t a lot of outside hires for executive roles. Now companies are seeking people from outside who have experience in different niches, and putting them in roles that fill those niches. In 1980, the average top executive had worked in 1.4 different industries. Now that figure is 2.3.Legacy companies aren’t exempt from big changes. The C-suite at legacy companies looks more traditional—that is, more like 1980—than it does at other companies. Even so, these older corporations have seen some big changes.First off, let’s look at the traditional side. Not only do legacy C-suites have a higher percentage of lifers, these executives get more training in-house and have less experience in other industries. At the same time, though, legacy executives have been affected by some trends that make them look different than in 1980. The executives have less tenure, as we have seen, and outsiders hired directly into executive roles went to 18% in 2021 from 1% in 1980.More executives come from finance. Financial markets and investor interests took on a greater role after the 1980s, and that change is reflected in the proportion of executives with a finance background: The figure has been above 30% since 2001, up from 19% in 1980.More executives have law degrees. The proportion of executives with a law degree has risen, going to 17% in 2001 from 11% in 1980, and staying near that higher level in 2021. This may be a response to increased corporate regulations like Sarbanes-Oxley and Dodd-Frank that drive the need for more legal expertise in the C-suite.Business degrees aren’t as prevalent as you would think. For years, there was huge growth in M.B.A. graduates in the overall population—63% from 2001 to 2011. But the growth rate of M.B.A.s in Fortune 100 C-suites was considerably lower: just 6%. The period from 2011 to 2021 had even less upward movement. The number of M.B.A.s in the C-suite rose by just 4% over those years, as M.B.A. graduates in general rose by 8% during that time.Ivies are still influential. Even as the growth rate of M.B.A.s goes down overall in the C-suite, the dominance of graduates from Ivy League business schools in the executive ranks remains strong. Ivy League M.B.A. programs represent less than 1% of all such programs in the U.S. Meanwhile, as of 2021, 35% of C-suite executives had M.B.A.s, and 23% of those got the degree in the Ivy League. That’s in the same ballpark as 2001, when 30% of C-Suite executives had M.B.A.s, and 20% of those were from Ivies.A couple of factors may be at play: These top jobs have become more attractive for elite graduates as executive pay has soared—and more outside hiring by companies has made it possible for M.B.A.s to make lateral moves that offer a chance at the C-suite. Previously, graduates of those elite programs disproportionately moved into higher-paying investment careers.Women are landing more executive jobs. The proportion of women in Fortune 100 top executive ranks rose from roughly zero in 1980 to 12% in 2001 and 18% in 2011, by about the same percentage as the proportion of women in all management jobs. After that, the proportion of women in these top executive ranks rose to 28% of jobs in 2021—while women executives in the overall ranks of management rose to just 18% of jobs from 17%, according to the Bureau of Labor Statistics. This indicates that it did not take an increase in the pipeline of women managers to add more to the executive suite.Women are also advancing quicker than men. Women executives got to executive jobs faster than their male counterparts—four years faster into their careers in 2001, slowing to 1.5 years faster in 2021.Foreign-born executives have also made gains. Something similar happened with executives from outside the U.S. Until this past decade, the percentage of foreign-born people in top executive ranks—2% in 1980, for instance—had lagged behind the proportion of foreign-born people in the U.S. as a whole. Now, foreign-born people make up 15% of top executive ranks—larger than their proportion in the overall population. This increase, though, doesn’t seem to be associated with any greater globalization of top corporations: Instead, it may reflect an increase in foreign-born students in elite U.S. postgraduate programs.
Peter Cappelli是宾夕法尼亚大学沃顿商学院的管理学教授,也是《我们最不重要的资产:为什么对财务和会计的不懈关注对企业和员工有害》一书的作者。您可以通过reports@wsj.com与他联系。
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