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Almost half of Malaysia's workforce is Gen Y, says Asian Institute of Finance

AvantiKumar | July 31, 2013
Deeper understanding of Generation Y, otherwise known as the Millennial Generation, is key to realise better productivity, said the Asian Institute of Finance's CEO, Dr Raymond Madden.

AIF CEO - Dr Madden 

Photo - Dr Raymond Madden, CEO, Asian Institute of Finance.

 

According to financial services sector body Asian Institute of Finance (AIF), as almost half of Malaysia's workforce falls into the category of Generation Y [Gen Y], or Millenial Generation, and requires deeper understanding for organisations to inspire better productivity.

AIFI chief executive officer Dr Raymond Madden said the key for the financial services industry (FSI) is to gain a deeper understanding of what motivates and inspires Gen Y and their value systems.

"There are now intergenerational gaps that exist in the financial services industry, between baby boomers and the Gen-Y," said Dr Madden. "This shift in the workforce requires talent managers in the financial services industry to appreciate Gen Y's value systems in order to maximise their true potential."

"Financial institutions need to understand the altered landscape of human capital in this millennium. The fact is that the financial services industry in Malaysia is a part of an ever expanding economy, as such the talent game has become the number one priority for the industry," he said.

Dr Madden said to help achieve this, AIF is hosting an international symposium themed 'Changing Face of Talent'  at Sasana Kijang, Kuala Lumpur on 28th and 29th of August 2013. The two-day event is designed as a platform for the financial services industry to discuss ideas and offer insights in attracting, motivating and engaging key talent segments, with a special focus on managing Gen-Y talent.

He added that AIF has invited 30 Gen-Y participants from the Asean region to attend the event to contribute insights on how talent managers could better manage them and their peers. They are expected to be joined by more than 300 professionals from across Asean as well as speakers from the UK, Netherlands, USA, Hong Kong SAR, Japan and Singapore.

Jointly set up by the Central Bank of Malaysia (Bank Negara Malaysia) and the Securities Commission, the Asian Institute of Finance's focus is on developing human capital across the financial services industry in Asia.

 

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