Managers and Millennials — Retention Issues
Insurance and Investment sales are important social safety nets and therefore have social value, but my institution does not position it that way… it is all about the mon-ey. This attitude will not serve them well with my generation." a Millennial’s words when asked their views of working in FIIS.
We care about growing and retaining our millennial workers because recent estimates are that for every one of them that leaves, it costs the FI a minimum of $25,000. We know that GenY’s brains are uniquely configured from and different than SGs and BBs simply because they have grown up in a wired world and been plugged in and socially active on a variety of mediums from birth. This in-creases their neuro– plasticity which in turn creates a need for increased stimulation and demands for change in the workplace at a faster pace than SG and BBs traditionally favor.
Let’s first review the perennial question of retention of GenY and explore a few techniques being used by innovative FIIS managers that have recognized and are confronting the intergenerational issues. Just click here to learn more.
Financial Institutions Insurance and Investments; commentary, insights and research from Carmen Effron, an industry insider.