Generation Y: Why Banking and Securities Firms Should Look Again
Could this powerhouse generation provide reinforcements for your short-term and ongoing strategies?
The results of our recent survey reveal both similarities and striking differences between Gen Yers in the banking and securities sector, and their peers in other industries. Gen Yers across industries reported they were optimistic and value career opportunity over job security. Respondents from banking and securities also reported they are tuned in to company culture and reputation, have a high level of trust in their bosses and their companies, and they welcome opportunities to work on innovative programs with senior staff. However, despite being generally satisfied with their jobs, most plan to leave their companies in two years or less.
What are the implications of these findings for employers in the banking and securities sector? Companies that retain and develop high potential Gen Y employees are likely to find that they can improve performance in key areas of the organization without incurring significant additional cost by:
- Refining the approach to short-term workforce reductions
- Polishing the company image both externally and internally
- Engaging Gen Y to grow customer base
- Feeding Gen Y’s hunger for change
- Using talent management strategies to develop multiple generations of employees
A continued strategic focus in banking and securities firms on workforce development – including the Gen Y segment – may help provide the necessary reinforcements important for growth, performance, and improving operational excellence across the board.
To learn more, download the full report.
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