ADVISING INDUSTRY: INCREASE YOUR APPEAL TO MILLENNIALS
Like most markets, the financial advising sector is targeting the generation Y for their future team members, especially since this population already comprises a third of US. Several firms whose target audience are those born between 1980 to mid-2000s have included in their strategy to hire consultants within the same age range. However, attracting youngsters can be quite tricky, as they are accustomed to different principles and practices compared to their folks. Furthermore, they often do not have a wide network of contacts, as they are new into their respective fields.
Since many are opting to advertise their expertise, today’s youth are opting for second or master’s degree for further experience and knowledge. The problem is this ambition causes them to incur more debt, on top of what they have during their college years. A recent survey have revealed that the average debt a fresh graduate has reached around $21,000. Most of them have started their careers burdened with this worry in their minds.
Another thing, it has become a common assumption that this population is known for their inability to stick to one job for a long period of time. Despite this, a report said that although they were less loyal to their companies than the Baby Boomers, they have a higher level of work commitment compared to generation X.
Luring millennials to your firm
Here are some suggestions for companies on the lookout for millennials:
Advertise balance The mindset of youngsters is not centered on their careers. Offering an ample paid time off and allowing them to work from home might work wonders, as most of them are looking to balance their life and work. It would also be helpful to provide leaves to help them spend time with their families.
Give a detailed description of the job These people are cautious of what they get themselves into, so it’s best to provide them with a definite explanation of what their task will include, and what they may encounter during their average working day. Some companies also reimburse expenses for those who wish to obtain another degree such as an MBA.
Conduct personality evaluations Allocate time to screen your applicants, and know their expectations as well as dislikes, in order to avoid workplace conflicts in the future.
Provide internships Giving interns a chance might help you spot your potential company star, and allow you to gauge their capabilities within the time they will spend on your firm.
Try social media Since millennials have high reliance on Facebook and other sites, these will be the perfect platform to reach out and maybe even promote your services.
Include the fun Show your potential employees that you allocate time for relaxation as well, be it in the form of office lunches or occasional bondings.
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