DEMYSTIFYING MILLENNIAL THE

MYTH

Jackie Ogonji

INTRODUCTION?1. SBM Bank Kenya is a wholly owned subsidiary of SBM Holdings headquartered in Mauritius.

2. SBM Bank Kenya entered into the market in May 2017 with the acquisition of Fidelity Bank,

looking to open a corridor into the East African region with a long term vision of providing

innovative banking and non-banking financial services.

3. SBM Bank Kenya further acquired certain assets and liabilities of Chase Bank Kenya in August

of 2018, expanding its footprint to over 50 branches across the country where HR recruited 700

candidates in one day.

4. In 2019, SBM Bank Kenya has further increased it's network with 3 additional branches in Nairobi

and Mombasa in addition to its already distinct online and mobile banking platforms. These

offer greater financial inclusion and ease access to financial services such as credit, trade

services, off-shore banking and wealth management to the market segments that we serve

5. Additionally, through our qualified team of foreign exchange dealers, we offer our clients

competitive of FX options, helping you manage your currency exposures as well as providing

you with the latest market insights to support your interests through our Whacky Wednesday’s

where we have the best rates on Wednesday in the country.

6. Our superior workplace Banking Solutions offers personal unsecured loans up to 5M in 5 years

with no prior banking history with us, financial literacy training programs to staff, Integration of

the employers payroll to our SPS system for faster, convenient and secure transfer that reflect

on real time by RTGS and 1 day through EFT to other Banks.

ICE BREAKER

You are assigned the task of creating a blueprint for the

perfect employee. What knowledge, skills, experiences, and

attitudes would he or she possess?

Draw a stick figure with all extremities. Write your ideas

on the stick figure in the appropriate place and assume the

employee is you. (Multiples are ok)

You have two minutes to write your characteristics

Head = Knowledge

Hands = Skills

Heart = Attitudes

Feet = Experiences

WHO ARE MILLENNIALS

Anyone born between 1977 and 2000

Make up 25% of the population

Make up 21% of consumer discretionary purchases,

estimated to be over a trillion dollars and a huge influence

to older generations, as a group they are similar and so

likely to have similar investing attitudes and behaviors.

They will soon have the most spending power.

53% of millennial households already have children. About

1 in 4 millennials are parents today.

Millennials believe parenthood is a partnership. 64% of

Dads and 50% of mums believe that they have equal

responsibility of childcare

69% of millennials say they crave adventure

79% of millennials would like to visit 50 states

WHO ARE MILLENNIALS

50% of millennials are willing to purchase a product or

service supporting a cause they believe in even if it means

paying a little more.

Brands that stand for more than their bottom line receive

greater millennial brand love.

46% of millennials have more than 200 friends on Facebook

56% of millennials are usually among the very first to try a

new technology of part of the first team to try new

technology

Millennials are content creators and users. 46% of

millennials post original photos and videos online that they

themselves have created.

50% say they do not need a physical classroom

WHO ARE MILLENNIALS

90% think being an entrepreneur means having a certain

mindset rather than starting a company.

70% of millennials give there services on freelancing basis

By 2025 3 out of 4 workers will be millennials and

currently stand at 40 million

89% prefer to choose when and where they work rather

than being placed in a position

56% wont accept jobs from companies that ban social media

Average tenure of millennials is 2 years compared to Gen x

at 5 years and baby boomers at 7 years. Either promote

then if they deserve or give them options to gain more

transferable skills

WHO ARE MILLENNIALS

Statistics show that a large number of leaders will largely

retire in 5 – 10 years leaving huge leadership gap that will

be filled by millennials

In the recent years 87% of millennial workers have taken

management roles

Are they ready?

SOME MYTHS ABOUT MILLENNIALS

They do not save for retirement, debt is a key barrier

to their investments

Millennials blow their money on frivolous things

They are unsatisfied with work

Millennials are job hoppers

Millennials lack loyalty to their employer

Millennials don’t know how to work (bad work ethic)

Being digital natives, millennials naturally gravitate

toward online advisors with minimum human

intervention.

SOME MYTHS ABOUT MILLENNIALS

They are obsessed about technology

Millennials feel entitled

Millennials want constant praise

Millennials lack social media etiquette

Millennials are lazy

Millennials won’t do what they’re told at work.

They cannot live without their parents

They are generally overconfident

BENEFITS OF HAVING MILLENNIALS IN

THE WORKPLACE

They are intrinsically motivated

They are cost effective

They are genuine

They are driven

They are innovative and think outside the box

In teams they are; collaborative, tenacious, optimistic,

value your feedback and are flexible.

With technology, they have grown up with it and are the

best at social media

DIGITAL LEADERSHIP

Building and maintaining high performing

teams.

Attributes of the leaders millennials want

Integrity

Competence

Judgement

Vision

Quite self confidence

Ambitious and competitive

Driven to Improve performance

DIGITAL LEADERSHIP

Expert in their area

Supports team performance other than

individual performance

Recognizes individual & teams achievements

Acknowledges mistakes

Open to learn from the team

Respects people to earn trust & respect

COMPANIES THAT MILLENNIALS WANT TO

WORK FOR

Millennials are on the hunt for employers who place

importance on their most practical needs, such as

balancing family with career, retirement planning, and

giving back in alignment with their values.

Traits that were common among many of the top

employers were a focus on education, working mothers,

work-life balance, compensation, and giving back.

Northrop Grumman (Aerospace and defense company)-

tops Indeed's list of best companies for millennials to work

for. According to their Indeed rankings, compensation and

work/life balance were cited as the most attractive reasons

to work there.

Oracle has a 1 year internship program that compensates

pretty well.

Apple- While most of Apple’s extensive employee benefits rival the

other tech giants, they have recently launched an in-house

healthcare program, bringing medical staff onto their own payroll

exclusively to care for Apple employees.

Capital One- Capital One really embraced the technological changes

in the industry. They are willing to experiment and test the norm

and they give their employees the opportunity to try new things and

grow.

EY- are known to have a focus on their employees. They also provide

ample opportunity to have global experiences.

Microsoft- Aside from all of the extravagant benefits that this tech

giant offers to compete with peers, Microsoft has a firm commitment

to giving back, which is attractive to millennials. They match

employee charity donations up to $15,000 per calendar year.

Deloitte & Standard Chartered - very forward looking with their

generous maternity leave policy.

At SBM Bank Kenya

We give opportunities to employees to share their expertise with

other entities

We have a robust policy

We have a fun open working environment

We have a rich stable brand

We have a great employee support policy

We tell our story through employees

We are among the few Banks that offer enhanced staff benefits

We are flexible to create meaning to Jobs

REALITY IS THAT THERE IS ONGOING DISRUPTIONS TO

THE WORKPLACE

Policies

Tools

Flexibility

Technology

What causes do we support

What brand do we have

What else do you offer – different

Work Life Balance

Leadership and how we identify talent

QUESTION AND ANSWER

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