Generational Talent Management: Strategies to Attract and Engage Generation Y in the U.S. Banking & Securities Industries
One of the biggest challenges faced by the U.S. banking and securities industries is talent management — specifically, retaining and engaging the newest work force consumer, Generation Y. A combination of demographic, economic and financial factors, coupled with an aging work force and an evolving competitive landscape, will likely create shortages of Gen-Yers at the exact time that banking and securities institutions need such talent to remain competitive. Although it is estimated that Generation Y makes up only about 10 percent of the U.S. labor pool, approximately 1.4 million of this group are expected to join the labor pool this year. As Gen-Yers join the three existing work force populations (veterans, baby boomers and Generation X), company leaders must adopt strategies to connect this group with their older staff.
For sustained, long-term growth, executives in these industries need to understand what the new Gen-Y work force values, and then develop strategies to recruit, engage and connect this new resource within their organizations. In this Deloitte Research Study, Rekha Sampath, manager at Deloitte Services LP, examines the values of Gen-Yers and proposes tactics and strategies to engage and sustain the interest of this new work force.
Dbriefs Webcast: Talent Management in Banking and Securities: Attracting and Engaging Generation Y
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