Case Study

Bank Becoming Relevant And Compelling To Millennials

Bank Becoming Relevant And Compelling To Millennials

Syntegrity

Financial Services

CASE STUDY

The Defining Moment

A financial services company was lagging in its attraction and retention of millennial staff and customers. Its previous “millennial talent strategy” had failed. The steering committee tasked with tackling the ‘millennial challenge’decided that a new strategy was needed, one that would be created by and for young professionals.

The Approach

The steering committee decided to launch a Syntegration to create its strategy. They gathered millennial employees, along with a few senior leaders,from across 17 different countries for two days to answer the question: What can our company do in the next two years to become the leading financial services company for millennials to work for and with?  

At first, participants were highly skeptical because of the poor track record of previous efforts. But as work commenced, they quickly recognized the opportunity at hand – to speak and be heard, to mix with young professionals from other countries and with selected senior leaders, and to engage in deep dialogue. As a participant remarked, "Our company wants to actually listen to us and get this right."

After a few days of robust discussion, the team, most of whom had never worked with each other before, came up with a series of recommendations they all believed in: Writing a company manifesto for workplace flexibility,re-branding their company's purpose in terms that better resonated with their values, embedding input from millennials into HR practices, etc. At the end of the Syntegration, one participant said, "I've been working here for five years, and I've never experienced this level of collaboration."

The Results 

The company launched a 'Young Professionals' council, and its members took on the responsibility of presenting the plan, country-by-country, and establishing governance and securing investments to support implementation. Together, they had quickly engaged the right group of people and successfully engineered a shift in course and speed on this imperative.

Back

Central Question:

"What do today's young finance professionals and finance industry employees want and need from a financial services company, and what can we start working on now and over the next two years to become the industry leader for them going forward?“

Central Question:

"What do today's young finance professionals and finance industry employees want and need from a financial services company, and what can we start working on now and over the next two years to become the industry leader for them going forward?“

The Results:

The company launched a 'Young Professionals' council, and its members took on the responsibility of presenting the plan, country-by-country, and establishing governance and securing investments to support implementation.

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