Pershing’s recent survey of 500 college students showed that this population needs some wooing in order to consider financial services in their career plans. We asked Kim Dellarocca, Pershing’s global head of segment marketing and practice management, how to use technology to attract Gen Y for new recruits—and why you need to pay attention to offline as well.
“Only 7% [of those surveyed] are interested in becoming an advisor and the reason that number is so low is because they don’t know about it. The definition of recruiting has to broaden to awareness, and not just when you need someone in the seat.
One thing that has changed; it used to be you’d show up for an interview, and be sure to be well presented, be there to impress the firm. What we’re finding now is a firm’s principal needs to be prepared to do the impressing. We’re seeing that dialogue shift in a powerful way. Even if they find you through a recruiting site. It’s not just a job description on a web site. You need to carry that recruiting proposition throughout a site.
Some firms are redesigning their reception offices, making wireless available, opening social networks for people to work. They’re not just saying it. It’s got to come through in every interaction and in every policy. You have to walk the talk. The next generation can sniff out our authenticity.
What’s interesting is that [millennials] are as engaged online and offline looking for this interaction. What we know about millennials is they are social creatures. Firms can’t abandon in-person for online because studies show that tied with employment web sites was also family and friends.
I remember seeing a Toyota commercial, someone saying, ‘Let me check with my friends.’ Then they check with their 500 friends on Facebook.”
