Pub. 14 2017 Issue 3

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S 16 How to Hire Millennials Now National study offers insight on attracting millennials into the banking workforce By Kedran Whitten, Chief Marketing Officer, CSI M illennials continue to perplex a good por- tion of the American business population; we want to know what attracts and motivates them, and keeps them coming back for more. For the bank- ing industry in particular, it really boils down to one simple question: How do we win this generation? With that in mind, CSI, in partnership with The Center for Generational Kinetics, conducted a national study of 1,008 U.S. adults ages 21-65—the purpose of which was to forman accurate picture of banking trends as they relate to different genera - tions, with a keen focus on what makes millennial customers tick. But, the survey went a step further to examine millennials in the workplace and uncover their thoughts on pursuing a career in the banking industry. After all, financial institutions need to attract not only millennial customers, but also the millennial hire. That’s with good reason: according to PewResearch, millennials—ages 20-36— have taken the torch from baby boomers not only as the country’s largest gener- ation at more than 76 million, but also as the largest segment of the American workforce. When it comes to hiring millennials, banks have a few hurdles to clear. Ac- cording to CSI’s study, 91% of millennials believe that working at a financial insti - tution is a respectable career choice (94% of both baby boomers and Gen X believe the same). But the majority of millennials aren’t preparing themselves for positions in banking.