Recruiting Harvard-quality, Generation Y talent requires more than a six-figure salary and the prestige of the firm’s name on a banker bag these days.
Millennials today have watched hundreds of technology companies — led by founders barely old enough to rent a car — achieve 8-, 9- and 10-figure success over the past ten years. These founders, and the millennials that work for them, wear jeans, t-shirts and sneakers in the office; and enjoy amenities like free beer, nap rooms and arcade games.
And, most importantly, they get to chase the opportunity to get rich — really rich — really fast.
In an era where food, rooms, cars and dates are available at the click of a button, millennials don’t expect to have to wait 30 years to “make it big;” and don’t need a six-figure paycheck to afford the en vogue lifestyle of spending on experiences over things.
So why go work at a bank? Or a law firm? Or, God forbid, an accounting firm? Putting on a suit and tie every morning to be at a desk by 7AM (and frowned at for leaving before 11PM) for a “slow” career track — when on the other side of the fence lies a world of flip flops, beer and billions — seems clinically insane.
Of course, logical adults know that it’s not — because “99% of companies fail,” “the tech bubble will burst,” and there’s no such thing as “getting rich quick;” but there is still a lot for grownup companies to learn from the cultures being created by their rebellious counterparts. Ties aren’t necessary to be professional. Beer can be good for creativity. And its OK to give people the freedom to be productive as they please (and even sleep ’til 8), rather than force upon them decades-old industry stereotypes.
So go ahead Goldman, put a keg on every floor, and see if the world falls apart. I bet it doesn’t 😉