Attracting Motivating And Retaining Generation Y Management Essay

Attracting Motivating And Retaining multiplication Y Management Essay clips Y that closely referred to as millennial is latest member in the multi periodsal both over movementforce. In fact they atomic number 18 the newest and the last members of the failforce, born between 1982 and 2003. Although they grew up with engineering science and never knew a time without mobile phones and the internet, they stupefy around values held by traditionalists kindred patriotic and volitioning to fight for freedom. They very much think in bullet points and be ravenous investigateers. Speed is all important(predicate) and they prefer rapid feedback. Moreover, they perform best when their abilities ar identified and matched with contest work.These years companies in contrastive countries faced several(predicate) take exceptions such(prenominal) as attracting, managing and continueing the new macrocosm of proles. Members of propagation Y have an incredible acquire in of tal ent precisely they in addition have incredibly steep expectations rough their work environment, result opportunities and rate of advancement. In former(a) hand, financial crisis tames to suppression in companies. In spite of the fact that there might be a near-term surplus of labor, the lack of existing decent doers is obvious. It is vital to companies focalization on new multiplication of Y workers and supplies their requirements besides, this question came to mind that is should they solely discharge the issues as just a nonher contemporaries gap that impart fifty-fiftytually weaken away. Ignoring the generation Y is impossible because of large(p) sizing of its population.As a group, they be nearly as large as the baby boomers generation. As such, generation Y bequeath shuffle up an increasing part of your workforce. multiplication Y has a dowery to offer. They be confident, connected, optimistic and technical savvy. generation Y would too be a growing p art of your customer base and becoming increasingly powerful factor that affects the buying process. We say that technology is becoming a fine factor for business success, on view of the fact that when these different workforces will work all together, the multi generational differences in attitudes, approaches, and styles related to work could give conflicts that in second could considered as potential threats against r for each oneing organizational goals. Besides, this plaza will falling off or even destroy employees motivation, as we love motivation bay window be induced by the employer or remain at bottom the employee and the primal to motivating employees is remembering that non all employees are the same. In army to achieve motivation, managers must(prenominal) know each employee and must have a wide range of motivational techniques avail adequate to(p), since each employee has a different case-hardened of values and personal experiences that brought them to w here they are today. If management could come up with these actions, they could win the organization towards its goals.In addition, for most companies retaining talent and part future leadership are organizational goals, hence to meet these goals, companies must understand the ask of todays diverse workforces. Since failure to embrace these differences will give in non only having limited talent required for success, but also an employee population that is not engaged as they could be. at that placefore, the level of contest is critical to an organizations overall activities. In this study, we have investigated almost behavioral differences that could lead to diverse motivational levels, keeping strategies in challenging labor shortage, and the completed of leadership to management style in that by knowing well-nigh these conditions, the organizations not only could prevent the failures that are to a greater extent probable for them, but also could achieve their goals to a greater extent rapidly. As such to be flourishing in managing generation Y, employers needs to know how to attract, retain and motivate these leaders of the future.Literature Review extension Y has been deeply affected by several trends of the 1990s and 2000s a renewed focus on children, family, schedule and structured lives, multiculturalism, terrorism, heroism, patriotism, parent advocacy, and globalization. Coincidentally, generation Y has been mixerized with several outcome messages be smart you are special, leave no one behind, connected 24/7, achieve now, and serve your community (Martin, 2005). It likes to reject old-fashion media and advertising feeds. compete video games, and watch DVDs are much(prenominal) interesting for them rather than TV programs. Those in multiplication Y tend to live with their parents before college, grade to return to their parents post after college, and are less at home in the real world than in the virtual world in which they sp end more than six hours a day online. As a consumer, coevals Y is potential to be independent and not check off true-blue. Conventional inside the home, it leans to be fashionable and sophisticated in the grocery (Weiss, 2003). contemporaries Ys entrance in to the workplace would seem to testify some(prenominal) opportunities in todays ever-more competitive organizations in which high-performing workers are an asset, and demographic shifts point to threatening labor shortages. coevals Y workers would seem to be a seasonably addition. gibe to the Southard and Lewis (2004) generation are mostly goal- oriented besides, they tried to develop and improve themselves. They strongly believed on financial and personal success (Breaux, 2003). According to the Lewis (2003) Y generation feel that they would be disposed to force into a demarcation that they evaluate it attracting and vital whilst their knowledge roughly this new melody is too low.Some of Generation Ys characteristic s may make it easier to manage than Gen X. Generation Y tends to value teamwork and fairness and is likely to be more controlling than Gen X on a range of workplace issues including work-life common sense of balance, performance reviews, and handiness of supervisor (What You Need to Know, 2003). Moreover, Generation Y descriptors include attributes predictive of high performance. Generation Y workers are inclined to he sociable, hopeful, talented, collaborative, inclusive, and civic-minded. Besides, Raines (2002) mentioned that in sight to be skillful with high technically knowledge, they try to be open-minded, attainment-oriented, and able capable to be multi-tasking. Cautiously they are optimistic and enthusiastic about their future. Generation Y is likely to have a solid work ethic and entrepreneurial spirit. Based on the Pekala (2001) it leans to not only delight in talent, especially traditionalists, but also strength, collaboration, energy, compliance, dandy quality, a nd responsibility.Generation Y has a strong sense of troupe loyalty, is at least as well-to-do with supervisors as are older workers, is as content as the others with the come in of praise received, and is as satisfied as the others with amount of vacation time and work flexibility or hours required. Additionally, Generation Y feels no more workplace stress than the other workers and is as satisfied as the others with solitude and wellness benefits (Saad, 2003).At the same time, Generation Ys entrance to the workforce seems to present some challenges. Although Generation Y workers tend to be more plus than Gen X about working in general, Generation Y tends to be less satisfied than Gen X with their jobs and employers. Present study tries to explain different dimensions of the dis rejoicing. Further, Generation Y is more open than Gen X to leaving for something better. Generation Y is likely to equate job satisfaction with a validatory work climate, flexibility, and the opportun ity to learn and grow more than any prior generation. Generation Y tends to have less enjoy for rank and more respect for ability and accomplishment. Cui et al. (2003) mentioned that Y generation like to trade more fee for job it thinks is signifi hatfult at a firm where it experiences good feelings.Generation Y tends to value respect and wants to earn it. Having freedom to bunk is a significant behavior in Y generation (Dealing with Your revolutionary Generational Mix, 2004).Additionally, Generation Y workers are likely to dislike subaltern work, lack skills for dealing with difficult pot, and be impatient (Raines, 2002). Less than one-half of these young pile form youngest generation like to introduce themselves as talent people who are ready to get to the work environments. The hassle shoes itself when these young people technical talent are not fitted with communication skills, independent thoughts,and time managing (Pekala, 2001). In a survey by Mercer Human Resource Consultant (2002) it was disclosed that generation Y military rating employers lower than other employees do on being treated fairly, acquire necessary cooperation from others, and having opportunity to do interesting and meaningful work (The side by side(p) Generation, 2003).Furthermore, employees in generation Y like to have immediate pastime rather than investing for a long time and effort (Southard and Lewis, 2004) consequently, they best-loved to invest on some especial projects.The Y generation employees like to be negotiators and questions in different events. Base Lewis (2003) cited that The forty hour hebdomad doesnt apply and how meetings become why meetings. Tulgan as an Intergenerational management expert explained the problems that challenge Y generation based on the Breaux (2003) as belowGeneration Yers is like Xers on steroids. They are the most high-maintenance generation to ever enter the work force (Breaux, 2003).Discussion/ IssuesScheduling to attract, manage, and retain the new employees generation is a considerable challenge toward the companies. But its a challenge that companies simply cannot afford to ignore. Generation Y is nearly as large as the baby boomer generation, and is expected to have nearly as big an impact on business and society. Generation Y are say to be un loyal, have poor communication, are impatient and has no respect for authority and they spend to much time on the internet rather on concentrating on the real work ( Sprague and Caroline, 2008)Generation Y are already entering the workforce and their numbers will increase over time. The issues is the companies that dont figure out how to harness this growing resource are likely to find themselves at a distinct disadvantage, not only in the talent market, but in the broader market as well. After all, Generation Y is not just the next generation of workers they are also the next generation of consumers, and as such will ultimately line up whether future businesses succeed or fail. Here are some special(prenominal) things companies can do today.There are 3 main Generation Y issues and challenges faced by companies. They are3.1 AttractingThe most pressing challenges are how to attract the Generation Y. The tasks is daunting because this generation has different attitudes and expectations that the other generations. Companies are thinking hard and fast on attracting the new millennium workforce. receivable to the fact that generation Y has seen a lot of job turbulence, inlet in their lifetime and they have seen their parents loosing their jobs, generation Y are more interested in taking their own responsibility for their own employability by constantly improving and building on their own job skills. As such, they are more interested in organization that offers it employees professional phylogeny, inveterate education and career coaching. Some other benefits cited as valuable by generation Y are extra vacation time, access to wellness club a nd social gathering tied to the workplace. Generation Y also looks at the opportunity of career mobility within the organization as an attracting factor. period the market for employees is a competitive one, deporting high range of remuneration is not a excellent strategy to find new skillful people. Find out how you can present your companies to these new workers to attract and retain them.Some companies are tackling the challenges of recruiting and retaining Generation Y apply innovative strategies spare to Generation Y characteristics. These methods which are contained supplying on site pedantic leadership, arranging official tutorial agenda to increase Y generation associability, and giving early chances to perform consequential job. To better reach Generation Y, some are streamlining the recruitment process and providing longer vacations after shorter service. As a same reason, some companies arrange inclusive intranet sites, for possibly regeneration of unexploited mana gerial leave into cash, and letting conversion related to wellness into deferred reward accounts (Southard and Lewis, 2004).Some companies are literally going where Generation Y workers are, connecting with them through with(predicate) the media and locations such as Internet cafes and video game stores. Or they recruit Generation Y through on-site career-day seminars in which rank personnel share their own success stores. Some companies are using their Generation Y employees as the first out reachers to peer Generation Y candidates in an effort to quicken the pace of recruitment. In this way, the companies aim to both engage their Generation Y employees more fully and to build a workplace ally for the Generation Y candidate (Employing Generation Why, 2004).3.2 MotivatingBased on the Herzberg commentary, motivation is concluded from different definition such as the challenge of the works, with achievement, recognition, the work itself, responsibility, advancement, and growth. Dis satisfaction comes from the maintenance factors, which represent those lower-level needs that employees assume will be adequately met.High level administrators with unimpeachable work conditions are the samples of these kinds of workers needs. Few managerial or professional people would say these job factors motivate them most. Yet, the minute a boss or working conditions becomes a principal concern, factors such as interesting job content and opportunity for advancement lose their power to motivate. As a conclusion, executing a job in its different aspects relies on the satisfaction of both motivation and maintenance needs.Motivation level of a worker will affect by factors such as age, personal, outside environments, and the worker current life situation and career. For instance, steady employment and good pay often rank higher among all generations during times of economic uncertainty. When the thrift is flourishing, employees tend to take these maintenance factors for granted when unemployment and inflation are high, their principal motivators change.On view of the fact that when these different workforces will work all together, the multi generational differences in attitudes, approaches, and styles related to work could create conflicts that in turn could considered as potential threats against reaching organizational goals. Besides, this situation will decrease or even destroy employees motivation, as we know motivation can be induced by the employer or reside within the employee and the key to motivating employees is remembering that not all employees are the same.In inn to achieve motivation, managers must know each employee and must have a wide range of motivational techniques available, since each employee has a different set of values and personal experiences that brought them to where they are today. If management could come up with these actions, they could raise the organization towards its goals. In addition, for most companies retaining ta lent and developing future leaders are organizational goals, hence to meet these goals, companies must understand the needs of todays diverse workforces. Since failure to embrace these differences will result in not only having limited talent required for success, but also an employee population that is not engaged as they could be.Work life balance can be offered in the form of flex time that would allow employees to work over one day, and work less hours on the next day. Employee growth and development could be management training programs that allow employees to advance their careers. Employee wellness programs would allow employees to stay physically fit, and the organization could have training programs to pull ahead safe work ha positions. Employees need to be recognized for their work, and management could be trained to offer more praise to employees for tasks completed correctly. Organizations can make employees feel more involved simply by holding meetings where they have a voice for their ideas, and concerns from the employees can be heard by management. By utilizing these practices an organization could expect the organizational improvements, employee well being, and retaining the elusive Generation Y worker.3.3 RetentionRetention means that an employee work with the company until the end of their flinch date and it is useful for both employee and company. If they find unfair situation in their job condition, they will explore a better opportunity and they will shift to the new job. Consequently one of the important duty of company manager is to find the best employee and try to keep them and prepare bankable work condition for them.Pay the salary and extra rewards are not a way to bring satisfy to them. Compared to baby boomers and other generations in the workforce, Generation Y tend to be more concerned about meaningful work and relationships with coworkers, attitudes that are the key for employers to remember in remembering efforts. Generat ion Y are hardly the first to long for a job that offers more than a paycheck and a way to acquire their days. They are a socially conscious generation. Participating in good-will work and green activites which serve up the environment improvement is a aspiration for Y generation. Sustainability and green are the hot words today. Generation Y are very interested in social and environmental happenings through the media as well as their employer. It can be as simple(a) as spending a day rebuilding or renovating a house for somebody in the community, planning ways to make your maculation green, having local nonprofit come in to discuss volunteer or donation opportunities. With getting everybody involved by creating the emotional equity, making it a bit difficult for them to leave the firm.RecommendationThe following has seen to be the strategies in attracting, motivating and retaining the generation Y into the work-forceFlexibility This can be seen in creating learning opportuni ties, sponsored learning capabilities, long range career planning, promote employee mobility within organization and cross country training opportunities.Work Life equilibrium This is a social aspect where flexible working schedules are design, developing a formal or informal networking circle for career development, hosting social or charitable events that is tied up to work. The work life balance initiatives were aspects such as paid leave to care for dependents, flextime, study assistance, eldercare, and time off to attend non work events, job sharing, telecommuting, on-site healthcare, and various other things the Generation Y workers are wanting in a career. advance to Technology -This strategy is linked to the organization adaptation of new technology in increasing work productivity. This is looked at where the workforce are weaponed with state of the art laptops, access to internet, i-phones, PDA, video conferencing, e-learning and many more. This group of people would not live without cable television and access to mobile phones. With the focus on technology, flexible work schedules and spaces are also crucial to Generation Y. Offering the employees the benefit of arriving at work an hour early or later gives them the flexibility to schedule life issues such as daycare, eldercare or doctor appointment.Sense of purpose and meaning to the job -This stress on core values, rich corporate culture, sense of achievement and contribution to the achievement of organization goals. The generation Y also looks at branding. The organization brand plays a pivotal role in attracting the generation Y to gather and contribute with the sense of belonging.Good Managementi.) Management style flatbed line management is top choice lately and for a lot of good reasons. Generation Y tend to be a bit self-centered. They will not stay in their job if they feel insatiable and there is no challenge role in their job. Generation Y particular were encouraged to find the perfec t fit in their excerption of everything from childhood activities to a college and they now seek a similar sense of place in their job.ii.) Mentoring and FeedbackGeneration Y has grown up hyper scheduled. Generation Y has been coached and tutored and guided and over-parented at every step of the way in their short lives so far. They thrive on one-on-one, personalized attention. Creating an environment that solicits input signal from employees demonstrates to them that their opinions are valued, ergo, they are valued. In return, they feel more valued and loyal to the company.Compensation-Fair compensation is still important to the employees. Organizations must offer an appealing compensations big bucks include tangible rewards such as pay (base salary, stock etc) and benefits (i.e. health care, paid vacation etc) and intangible rewards such as learning and development and a satisfying working environment. Even though base salary and benefits constitutes hygiene factors for Generat ion Y, other parts of the compensation package will work as motivators. As the title and salary are no longer the number one priorities, Generation Y are more interested in self-fulfillment and work-life balance.5.0 ConclusionThe workforce deficit that is proposed to betide in 2014 is expected to be remedied by the generation Y workforce. However, problems with retention in employment with this group have been widespread across America. There is no set procedure to be implemented in order to retain this workforce however the proposed example does encompass the problems associated with retaining these people. The model lays the root word for organization specific procedures to be written from, and according to past experiences and research these methods should greatly reduce turnover in this group. Further research should be conducted to measure the effectiveness of these factors in employee retention of people who are categorized into generation Y.6.0 LimitationAlthough recognizi ng and considering the different attitudes and needs of four types of generation could help the management for achieving the organizational goals, some limitation could be realized in this situation in that some researchers have found before too.As a case in point a new model of human resource solutions for achieving intergenerational interaction in organization that adopted from theories of common land (1950) and Kubler-Ross (1969) could be considered.Most of the researchers have divided the human resources into four different generation types and in turn they have detected and allocated some characteristics for each generation. It could not be considered these specifications would be the same for all the human beings in all the societies and task environment absolutely. Moreover, the combinations of different generation within the work environments or even societies are different from each other. Therefore, the outcome of canvas in different situations could be somewhat differen t from each other.The generation groups who differ from the conventional culture commonly cannot participate in delimit the rules and standards used to make meaning. Hence, coordinating of these different group workers in such a task environment is often very controversial.The group that would be dominant among the other task groups in the work area usually spread their own beliefs and attitudes as if its views and approaches are universal and genuine by all other groups and members.Assimilation among these groups promotes self-alienation by engendering self-denigration where individuals differ from the neutral accepted norm. In addition it could provide the condition for covering or even demolishing individual beliefs and customs.