The Bahamas Financial Services Board (BFSB) is set to launch its latest "people power" initiative in the form of the Bahamas Millennials Society, a club of financial services professionals with a goal of ensuring the brightest and the best young employees are retained within the sector.
According to a series of surveys in recent years, "millennials" - those born between 1980 and 1995 - represent a powerful generation of workers who actively influence they way they work. Employers around the world are sitting up and taking notice. They have to: Realistically, the millennial generation will form the majority of the workforce by 2020.
BFSB CEO Aliya Allen said, "Addressing the need for homegrown future industry leaders and capitalizing on the pool of talent already present within the financial services sector, BFSB has determined to look at how we can develop and retain the millennial workers within the sector."
To this end, BFSB has formed a Millennials Planning Committee, with the objective of formally launching the society at a forum within the first half of the year.
Allen added, "In a recent survey, over half of millennium respondents said training and development is the most valuable benefit they see in the next five years of their professional development. And, 98 percent of all respondents said working with coaches and mentors is an important development opportunity. This ties in perfectly with our plans."
A key component of the membership benefits will be regular meetings to promote networking amongst the millennials, and mentor presentations on topics of interest to this generation of workers.
Allen said, "It is an indisputable fact that one has to capture both the hearts and minds of the millennial worker. It cannot be business as usual. We look to our member firms to support this initiative, fully recognizing that this is the generation that will drive the sector forward in the coming years."
The BFSB said the initiative fits with its ongoing drive to develop human capital within the sector.
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