Publications

- June 1, 2016; Vol. 3, Number 6

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The Millennial Workforce: Five ways to attract and retain top, young talent

by Mike Consol

Any investment advisory firm knows that there is only one opportunity for a sustainable advantage over the plethora of rivals. That would be to hire and retain superior talent. Many organizations are discovering that hiring sharp, young talent and keeping it engaged is more difficult than with previous generations.

Dare I say it? We are talking about the millennials, those born in the 1980s and 1990s and raised on digital devices, social media, video games and parental coddling. The rap against millennials is that they are lazy and have a sense of entitlement. Despite its liabilities, this is not group employers can afford to ignore, considering that millennials are said to be the largest component of the U.S. workforce.

Even a redoubtable resource-rich organization such as PwC has found the millennials a challenge. About eight years ago PwC noticed that new employees were staying only 12 to 24 months before decamping for a new scene. The first thought among PwC

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