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Managers and Millennials — Recruiting "I would like to see someone that looks like me, recruit me, and get me excited about joining the organization." Millennial’s words when asked their views of recruiting done in FIIS." We asked Millennials to describe how they were recruited to their institution and to give us some suggestions on how they believe recruitment would be effective for their peers. We spoke with sales representatives as well as advisors, operations and administration people. One thing is clear, consider your company’s website as the focus for job opportunities as every Millennial in our research went to the company’s website before deciding to apply and/or accept an offer. If the website is dated, then the applicant feels that the company is too. GenYs like to see real employees, not stock photos, mission statements, values and community outreach programs very visible on the site. To get the full story, check out the third edition. 
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Managers and Millennials — Training "I like my training in small bites; not 8 hours at a time and sitting in a lecture hall. Why can’t this process be more fun and entertaining? This doesn’t mean I am not motivated, I am but I would like to see training handled a bit more creatively. I want to make an impact here!" Millennial’s words when asked their views of training done in FIIS. We asked Millennials to describe the training received in their institution and how to they see, feel and think it works; or in some cases, doesn’t. In the workplace today there can be a difference of 60 years between the oldest and youngest employee on staff if your company doesn’t have mandatory retirement! This may be the first time in history this is occurring. If the intergenerational cultural divides are not acknowledged and dealt with, we may see discon-nects, conflicts and a loss of productivity. Training for each generational group should be different and in fact, Gen Y expects training to be tailor-made to the way they like to learn and due to the desire for instant gratification, completed quickly. Gen Y are used to this type of customization; from being able to order socks in combinations of their favorite colors, to changing the backgrounds on their phones in a mille-second! Want to know more, come check out the second edition.  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.  |
AuthorFinancial Institutions Insurance and Investments; commentary, insights and research from Carmen Effron, an industry insider. Archives
August 2017
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