The Top 5 Ways to Attract and Retain Millennials

According to PwC, 1 out of 10 Millennials say they wouldn’t work in banking because the industry has a negative image. While this statistic sounds discouraging, The Financial Brand recommends 5 things you can do right now to help increase your odds of hiring Millennials.

Mimic What’s Best About Start-ups: Millennials want to gain experience in many different skills from the beginning. Encourage flexibility in work schedules so your employees have the opportunity to learn more outside their specialties.

Stand Up for What You Value: The Millennial workforce strongly values social responsibility. Make sure to highlight what causes or charities your company actively supports.

Compensation Goes Beyond Money: Work-life balance is very important to Millennials. Besides a decent starting salary and a good compensation package, offer flexible work schedules, remote working days or incentive rewards for high-performers.

Showcase Up-to-Date Technology: The term “digital native” goes hand in hand with Millennials. If your company is still using the same platform from the 90s, they’re not going to passionate about their work or excited to join your team.

Get to the Point: Millennials are more accustomed to getting answers or updates almost instantaneously. If you can ask a question in a chat or over email, start there and then move on to face-to-face interaction if that doesn’t work. This wastes less time for all parties involved.

Out of the 5 mentioned above, which strategy do you think is most important and why?