Bank finance articles and tips

Evolved Leadership For A Technically Evolved Generation

Today's technically evolved generation, Generation Y needs evolved leadership. Generation Y grew up with the internet. They can be hasty, wanting to finish things fast, and technology helps them with that. Generation Y employees do not believe in a life consuming career. They wouldn't want to spend 8 hours of their days in the office. They can finish the job in 5 hours, anyway, so they think. Y people are slackers, misfits, unmotivated and demanding employees. They live by the rule of work hard, party harder and for them that is life.

This is the common perception of Generation Y. Now, the question is, should you find space for these kind of employees in your business? Are you willing to give Y people a try, or even risk and hire them in your work place? Looking beyond the stereotype and honing and utilizing the potential of Generation Y may bring benefits to your business. They key here is applying the right leadership strategy.

When trying to woo underbanked consumers, financial institutions (FIs) must have a strategy because these consumers are a volatile group - they are cautious, demanding, and are liable to run away and never look back. They have the potential to bring substantial profitability to financial institutions, but have thus far appeared to be fickle and highly risky.

What does this all mean for enhancing customer acquisition?