For lenders that want to attract and retain younger LOs, investing in training and career development will be essential.
Why it matters:
- By 2030, members of the Baby Boomer generation will be at least 65 years old. This means many older, more experienced sales professionals will be exiting the workplace and taking their selling skills with them. Source: U.S. Bureau of Labor Statistics
- 63% of workers who quit during The Great Resignation did so because of “lack of opportunities for advancement.” Source: Pew Research Center
- Millennials and Gen Z employees value growth opportunities and career development. Younger employees also want a good work-life balance, flexibility and a diverse, inclusive work environment. Source: PwC’s Global Workforce Hopes & Fears Survey 2022
For a deeper dive, check out this recent article from PwC’s Strategy + Business: Younger Workers Want Training, Flexibility, and Transparency.