Delving into the entrepreneurial spirit of the next generation, Robert Camp discusses how firms should harness this groups characteristics and considers ways to inspire and retain the best talent by asking…

What can professional service firms offer to entrepreneurial millennials?

“Attracting and retaining the best millennial talent is not just about having the right approach to technology. It is crucial to recognise and harness the entrepreneurial spirit of millennials too.”

With a recent survey finding that 30% of millennials aspire to start a business in their lifetime, and 14% intending to do so within the next five years*, this is a key challenge for professional services firms.

“The millennial generation is more open to entrepreneurialism, perhaps because it is so much more visible now through social media. For millennials working in professional services they are also likely to be acting for entrepreneurs their own age, which must have an impact on them,” says Robert Camp, Director of Strategic Innovation at South West law firm Stephens Scown LLP.

“The big question for professional services firms is: how do we harness this entrepreneurial spirit? And how do we retain the best talent by making careers with us more attractive than the lure of leaving to start their own business, or work for another entrepreneurial start up?”

Robert argues that it is crucial for professional services firms to create space to allow their people to engage in entrepreneurialism.

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