Keeping Millennials Motivated to Pursue Financial Careers

Finance can be a relatively boring line of work. Many people think of finance as a dull, repetitive job with a lot of numbers and no excitement. As boring as it may be, it is an essential part of the business world. Financial analysts keep major corporations running and financial advisors help people with low financial knowledge manage their money. As we approach the future of work dominated by Millennials, it is going to be necessary to motivate them to pursue financial careers.

Relating to Millennials

Millennials are a very complicated generation to relate to. Their attitudes about life and about work are vastly different from previous generations. Financial companies are beginning to realize that, and they are taking measures to relate to Millennials as much as possible. These measures are being taken so that they can get talented employees to work for their respective companies.

Engagement

There are a number of ways for financial institutions to relate to Millennials. John Anderson points out a number of motivators and verbal methods that companies can use to relate to them. Here I provide a list of three examples…

1. An opportunity to learn
2. Progression
3. Flexibility

As Anderson points out, “More than any other generation, millennials want to work at a company where they have the opportunity to learn and grow” (2018). It would be wise to give your Millennial worker smaller tasks to gain experience and then gradually give them more important tasks. Not only does this help the younger employees, but it also helps more experienced employees improve their skills.

Progressions is another important form of engagement. Anderson says “Millennials in finance are incredibly motivated when they can see a clear path before them” (2018). He went on to say “ Like anyone else, they want to work hard for a meaningful raise and, eventually, a promotion” (2018). I have pointed this out in previous blogs. Millennials love that sense of accomplishment and working for a purpose.

Finally, Anderson mentions Flexibility. Studies show that Millennials have a hard time following a set of rules. Anderson says, “It’s difficult for millennials to envision themselves in a more rules-based sector like finance and feel satisfied with lower perceived creativity” (2018). Once again, he mentions feeling a sense of satisfaction and being more flexible on guidelines to improve productivity.

This was a list of just three of the many methods Anderson proposes. These key elements will surely encourage Millennials to pursue careers in finance.

References:

Anderson, J. (2018, May). How To Keep Millennials Engaged In Finance Careers. Retrieved from https://www.forbes.com/sites/forbesfinancecouncil/2018/05/15/how-to-keep-millennials-engaged-in-finance-careers/#7044a1192481