Retaining the Young
Chief investment officers seem to be in alignment with their talented employees who are under the age of 40, according to our recent poll of CIOs and survey of under-40-year-olds. Both of you agreed salary was a good tool for retention.
You’re also in agreement on corporate culture and mission, which 44.4% and 37.8% of CIO respondents use, respectively, to ensure your staff doesn’t head to the next highest bidder. When you can, 31% of CIOs use a bonus and 28.9% of you reimburse for education. Surprisingly, the least used employed lures, at 22.2%, were mentorship, work from home flexibility and, at 20%, other perks.
This is where your opportunity to attract and keep young talent presents itself. A 2016 Deloitte Millennial Survey found that most millennials intend to leave their current jobs in five years. Yet those who intend to stay with their organization for more than five years are twice as likely to have a mentor (68%) and have their leadership skills developed.