Banks using ‘experiential volunteering’ to lure millennials

Those in the financial industry worry they’re losing key talent to the more millennial-friendly tech companies of Silicon Valley. (Photo: Shutterstock)

Despite all the negative press, millennials now make up a majority of the U.S. workforce, and that percentage will only increase as the boomer generation makes its exit. As such, many employers are rethinking their strategies to keep and retain top talent.

Major financial institutions are appealing to millennials’ interest in social impact by playing up their volunteer opportunities. It’s not just about offering a perk to bring employees in, but in a generation where job satisfaction trumps job loyalty, more companies are changing their culture to appeal to the generation’s priorities. In particular, those in the financial industry worry they’re losing key talent to the more millennial-friendly tech companies of Silicon Valley.