Millennials Want More Development Opportunities
In a recent survey we conducted of 300 millennials (ages 25-36) in the financial services industry, 71% of respondents said they would leave their current job if given the opportunity to work at an innovative technology company.
Tech companies are known for being able to motivate employees by communicating the importance of the work they are doing. Seeing your work as innovative and “on the cutting edge” is exciting and inspiring for millennials who want to feel like they are making a contribution to the world through their jobs.
Many millennials working in financial services look at the tech industry and see opportunities they aren’t getting within their current industry: fun team culture, working on innovative projects, flexible PTO policies, and generous pay.
What do they want?
Millennials in our survey indicated they desire more development opportunities in the workplace. 74% of those surveyed responded that receiving professional development from their employer is of the highest importance (7 or higher on a scale of 1-10) to them.
Over 40% of respondents indicated that they wanted more opportunities focused on their growth. The combination of mentorship from senior leadership, professional development opportunities and the chance to run/work on an innovative project outweighs the desire for more flexible work hours (20%) and better work/life balance (32%).
Guess what? Millennials love you!
Although over 40% of millennials voiced the need for more investment in their development, 79% communicated that they’re proud to work in the financial services industry. 84% of respondents thought their company had a positive reputation in their community and 76% said they were excited about their career in financial services.
These survey responses reflect an incredible opportunity for HR professionals in the financial services industry. Millennials are optimistic about their careers in the financial services industry, but they need to be given the chance to be developed as leaders or else they may jump at a new opportunity that comes their way.