The millennial money struggle is NO JOKE. The youth of today are making 20% less than their parents were at the same stage of life. Plus with Millennials getting more education (masters and PhD’s), they have more debt than their parents did as well! To top that off the job market isn’t making things any easier for the future of your young staff.
While 48% of millennials are optimistic about their financial future, most of them are worried about income in the here and now. Jobs are few and far between, and the salaries are even less. Which leaves them wondering; what to do?
Here is where you can help. As a manager or CEO, you can offer financial lunch & learns for your staff. Millennials surveyed say that on average, they spend four hours every week sweating their personal financial matters at the office. That means you lose a whole week’s worth of productivity a year for each millennial staff you employee. Millennials may be the biggest money, but they are not alone. Boomers and GenXers say they spend office time worrying about money troubles.
It’s really easy, with 92% of millennials saying they would benefit from a financial education program, and those classes can equating to higher productivity for the company; you should be on the phone now to book a money specialist now!
Tip: you can save some money and have your CFO or the company account hold the meeting; as long as they can make it entertaining.