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Adjusting Bank Recruitment to the Specifics of the Millennial Generation as Conditions of Attractiveness Decline for Employment in the Banking Sector

Author

Listed:
  • Momot Volodymyr

    (Alfred Nobel University)

  • Lytvynenko Olena

    (Alfred Nobel University)

Abstract

The article discusses the problems of commercial banks related to the deterioration of their image as employers, especially in eyes of the millennial generation, which soon will become the most attractive category for employment in modern business. The main criteria that guide the millennial generation when choosing a future job are identified. A detailed analysis of the strengths and weaknesses of banks as employers has been carried out, and advice for image improvement has been formulated, aimed at the young audiences of potential bank employees. It was proven that banks should build not only an effective PR campaign to create a powerful image of a reliable employer, but at the same time they should establish a reliable system to counteract unfair competition, ultimately aimed at destabilizing financial institutions, which are most sensitive to image problems.

Suggested Citation

  • Momot Volodymyr & Lytvynenko Olena, 2019. "Adjusting Bank Recruitment to the Specifics of the Millennial Generation as Conditions of Attractiveness Decline for Employment in the Banking Sector," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 15(4), pages 73-82, December.
    • Handle: RePEc:vrs:finiqu:v:15:y:2019:i:4:p:73-82:n:2
    DOI: 10.2478/fiqf-2019-0029
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    More about this item

    Keywords

    corporate culture; employer image; value system; generation theory; generation Z; social capital; management style; job enlargement; job enrichment;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions

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