Abstract
This research investigates the best practices of retaining millennial generation employees
within the financial sector. This study provided an understanding of the perspectives of
millennials in relation to the reasons for leaving previous roles. This study also outlined what
draws Millennials to staying with employers and their opportunities to grow professionally in
the workplace. This was studied in line with typical professional development opportunities
provided by management including feedback, appraisals, coaching training and
development and rewards. These perspectives uniquely assisted the analysis of best
practices in retaining Millennial employees within the financial sector, during the unusual and
challenging time of the global pandemic. A meta-analysis was carried out by comparing the
primary data with the secondary data gathered in this study. The primary data was collected
through quantitative research, using surveys as the data collection instrument and the
population sample included Millennial staff from five Allied Irish Bank branches across south
Dublin. This research found that high employee turnover is an evident issue in the financial
sector, that Millennials do require specific attention to retain them and that professional
development initiatives are surprisingly crucial in order to retain them. This brought together
valuable recommendations or a unique outline of best practices to solve the problem of high
Millennial turnover and low retention within the financial sector.
