Articles
9 February 2012

How will today’s economic hardships impact tomorrow’s leaders?

by Sarah Ryther Francom

09 February 2012—

 One of Utah’s strengths has long been its youthful workforce. Utah, in fact, has the nation’s youngest population; the state’s 2008 median age was 28.7 and the nation’s was 36.8. 

In this issue of Utah Business, we celebrate 40 of the state’s youngest leaders in our annual Forty Under 40 special recognition feature. From fields spanning the banking, mining, legal, dining and other industries, we honor Utah’s rising entrepreneurs, business execs and community builders. These 40 individuals are already making a difference in Utah and are quickly on their way to becoming the major players of tomorrow. We proudly applaud them.  

During the Forty Under 40 nomination process, our editorial team was delighted to receive a record number of nominations of well-deserving individuals for this recognition program. Each nomination presented the remarkable accomplishments of numerous young Utahns. And our independent judging panel, consisting of Forty Under 40 alumni, agreed. One judge said, “What a great testament to Utah’s rich business environment.”  

While it’s exciting to see so many young Utahns truly making a difference in our business community, I wonder about the future Forty Under 40 honorees. Utah’s current unemployment rate is 6.7 percent; the nation’s unemployment rate is 9.7 percent. How will today’s economic hardships affect the potential leaders of tomorrow? 

It’s been argued that those in their early- to mid-20s will be impacted the most by today’s rough economic conditions. This group has been referred to as the Recession Generation or the Lost Generation. Though many are college educated, they still wait to gain relevant experience in their desired industries due to struggling employers. By the time they reach their late-20s to early-30s, many will have glaring holes in their resumes and may even be overshadowed by younger, fresh-out-of-college individuals. 

When the economy rebounds and employers start hiring, will this generation of inexperienced workers be forgotten? Will we lose potential leaders? 

Utah’s employers have an opportunity and a responsibility to help these young workers land on their feet. By offering internships, part-time work, mentorship programs and other on-the-job opportunities, employers will not only help this young workforce gain valuable experience, they will also help themselves and ultimately help develop Utah’s future business landscape. 

The potential leaders of tomorrow are struggling to find a place in today’s rough economy. Employers should do all they can to ensure opportunity keeps knocking for this potentially forgotten workforce.       

 

 

 

From the Editor 

 

 

 

 

 

Sarah Ryther Francom


Built by Crowell