The business society is rapidly changing. The evolution of the workforce is imminent. Generation Y is a group of individuals who have come into existence after generation X. Organizations have been forced to restructure their systems to enable them attract and retain the generation Y employee. The generation is characterized by familiarity with modern technologies i.e. social media and telecommunication technologies. . This group of individuals born between early 1980 to mid-1990 has a great number of demands. Their demands depend on a range of aspects i.e. growth environment and its socio-economic state. To satisfy their demands, innovative human resource management is paramount. The alignment of firm human resource management, top company management and resources are important in ensuring that companies realize their set goals (Roy 2008).in addition, internal company communication is a vital tool in ensuring generation Y employee is kept motivated toward achievement of company growth. Generation y employees have a universal believe that their work efforts ought to be measured by how it influences the society. The unpredictable nature of these individuals poses a management challenge to human resource managers. Their behavior is often shaped by events and life developments. Peer influence is evident in generation Y because of technology influence where individuals are able to maintain frequent communication with their mates through social networking sites i.e. Facebook and twitter (Kaufman 2011). The essay seeks to evaluate the innovative ways to be adopted by human resource managers to attract and retain this 21st century employee.
While Woodruffe (2009) believes that significant changes are required in attracting, developing and retaining the millennial generation, Kyles (2005) believes companies should focus on finding strategies that appeal to all generations. However, the world is moving towards internet business. Social business advances a forum where consumers, employees and companies interact and ensure that each group needs are addressed fully. The swiftness of human resource in addressing the demands of firms’ employees will relatively lead to company gains on losses. The traditional methods of attracting and retaining employees are too formal and outdated. The changing business environment demands the adaptation of new dynamics that merge well with the modern demands. The productive capability of the generation y employees cannot allow firms to adopt a neutral ground to satisfy all employees. These individuals have access to real time developments in the business world and failure to address their issues in real time will lead to frustrations and subsequent resignations. Therefore, the traditional management structures of companies need to be restructured to ensure employees feel empowered. Moreover, several generation y employees are entering the job market annually and firms need to be well strategist to address their demands and harness their knowledge to enhance growth and increase revenue.
According to Cone (2007), despite entering the market with hyped self-worth, many generation y employees are well educated and well versed with modern technology. Existing employees find it hard to cope with their sense of personality. However, to address these challenges, existing leaders need to advance prudent management practices that ensure the recruited employees are trained and relatively retained by firms (McLean 2008). The existing job market is employees driven. This curtails cordial working relationship between employers and employees. Firms that are keen in nurturing their relationship with their employees ought to adopt a criterion that works well with generation y. Traditional human resource code of conduct and processes differ to a large extend with the believes and characteristics of generation y. From the aforementioned, it is apparent that generation y employees are rewriting the human resource norms and rules. Generation y is the sole individuals who will agitate and change the traditional ways of running firms. To survive in this rapid transforming environment, adopting new technology is a mild option. Adjusting company culture and aligning it with the latest market developments nurtures motivation. In addition, adopting modern processes and a culture that is in accordance to the new dispensation will attract and retain these smart productive employees.
While workforce planning has long been a function for many organizations, it has become of increased importance because of the emergence of globalization, changing demographics, and other factors (Gerry 2009). The world labor market is open to individuals who are willing and able to deliver. The generation y grew in an environment with acute changes in technology. They are well versed with the modern technology. This gives them an edge over generation x and past generations. They are able to work in any part of the world and still meet expectations of their employers. Information technology has enhanced globalization making the world a global village. In addition, generation y employees are keen in the final output. Their presence in the office is not a primary objective as they are able to achieve set company goals at their comfort. Workforce planning is important in ensuring firms have enough employees at a particular time. Competition for smart employees is rampant in the 21st century. Therefore, to attract and retain employees while ensuring company growth goals are on course, prudent planning is important. Revolution of technology has opened up many employment avenues for generation y. This together with lenient labor laws between countries has enhanced access to new job opportunities. The developments drive employees to quit employment and seek for greener pasture in companies that offer better compensation. The demand for generation y employees in the labor market is in the rise, resting compensation bargains solely in their hands (Kehrli 2006). Thriving in such an environment call for sound workforce planning that will ensure right employees are recruited.
According to Kaufman (2011), while agitating for a good working environment, generation y employees are sensitive to social matters. Offering challenging tasks not only does it enhance their creativity but also create a sense of satisfaction. Generation y employees are attracted to employers who have a well-outlined corporate social responsibility plan (Kehrli 2006). Firms that have displayed their commitment toward various social aspects have been able to attract and retain these employees. The world is going green and most countries are agitating for reduction in greenhouse emissions. This implies that in the near future, most employees will be going green. Therefore, to attract highly qualified staff in the future, most firms will adopt green building environment.
Frequent feedback and freedom at work has been identified as important aspects that nurture cordial relationship between top management and generation y (Roy 2008). Many scholars have identified past generations to be lenient to authoritarian authorities and management style. However, generation y employees are intolerant to weak leaders. They demand timely clear communication from company management. The type of feedback is not limited to face-to-face communications. Emails and other social networking messaging may be used to transfer positive information. Traditional ways of running companies have always been associated with higher productivity. Existing employees always referred as generation x have devised ways of meeting company objectives despite insensitive leadership. Apart from constant communication from the top company management, generation y employees also like freedom. This implies that upon delegation of duties, they should be given personal space to work on the task at their own schedules. Taking breaks at their own ours and reporting to duty at their own hours. These requirements are huge for companies to bear. It is a big headache to firms’ management and calls for guidance and mentorship from senior management (Roy 2008).
While Eckle (2009) suggests that social networking sites are good recruitment sources, Solove (2008) believes that information gathered from such sites is unreliable, and therefore they are not a reputable source. Despite holding different view in relation to information reliability, the scholars agree that most of generation y information is found in social networking sites. According to Roy (2008), a company that seeks to recruit generation y employees ought to be well versed with the technology world. Furthermore, the scholar argues that any recruiting body that is not aware of the existence of social networking sites i.e. LinkedIn, my space and other sites are failing in their quest to recruit generation y employees. From the scholar, it is apparent that a good number of these 21st century employees are found in networking sites. In addition, recruiting from social networking sites will give managers a wider pool of employees to select. Generation y employees are fully networked individuals. Harnessing talent from a networked pool cuts down recruitment costs while employing qualified individuals.
According to Jorgensen (2011), firms that break away from their traditional mode of operations and embrace a flexible attitude toward its employees thrive in maintaining its workforce. Maintaining a company culture that is insensitive to bonding and networking will gag generation y employee. Due to the influence of social networking sites, generation y employees seek companionship with workmates (Smith 2003). They relate well when their colleagues treat them as friends. With a networked workplace environment, where employees are allowed to work with the guidance of a qualified network, employees will complete their assignments timely. It is therefore apparent that to advance in such a working environment, managers need to establish teams that can relate efficiently to deliver allocated tasks at minimal costs.
Generation y employees are unique in a number of aspects. First, they prefer knowledge to job titles (Kim 2009). They subscribe to a common believe that upon harnessing additional knowledge and job skills, moving up the management ladder is an automatic constant aspect. This is contrary to the traditional structure where individual promotions are guided by the level of experience and the amount of time spent in a company. Rigidity by companies to adjust their structures to reflect the changing times and subsequent needs of generation y leads to mass job exit by this 21st century employees. It is estimated that an average generation y employee quits employment in a span of two years. This implies that at age 40, the employee will have worked with nearly 16 companies (Kim 2009). This exposes companies to many risks as information may easily be transferred to their competitors. In addition, the statistic poses a challenge to companies looking to retain their employees for longer periods.
According to Smith (2003) in order for Australian organizations to attract and retain talent, as well as become globally competitive, investing in Training and development is crucial and requires developing a strategic, measurable and long-term Human Resource approach. Generation y is attracted to companies that value personal development. Australian companies that have been able to stay ahead in competition are those that have formulated measures to attract and retain employees. Additional training and room to advance academically are key aspects looked by the generation y employee. Understaffed companies are unable to meet their consumer target, relatively losing the market share to competing companies. Appropriate training keeps companies prospects on course. The company is able to budget well for the future and adjust its set strategies with a more stable employee base. However, with the behavior of these generation y employees, it is not certain that after training and development they will be loyal to the company for long periods (Kim 2009). It is therefore prudent to review human resource approach regularly to ensure companies policies are kept on course.
According to Jorgensen (2011), a good number of companies subscribe to the assertion that active social networking sites are a waste of company production time. Traditional companies have hired information technology specialists to block off social networks i.e. Facebook, twitter and YouTube from company machines. However, the drastic measures are a blow to comp-any development. Despite the social networking sites being a zone to refresh after mind-boggling tasks, it provides an avenue for information. Harnessing social network information benefits the firm in a large margin. Generation y employees use social networks to keep track of their friends and future activities. Sharing this information with company management implies that the company will be well poised to prepare well for future expectations. Human resource departments are able to acquire vital information about their employees if they are allowed to use social networks. Work frustrations, estate relocations and need to change jobs are some information that a company strategic organ can obtain from social sites (Eckle 2009). Therefore, from the aforementioned, it is apparent that to be well versed with information about the generation y employee it is important to encourage the use of social media.
Technology has changed the dynamics of traditionally managed companies. Company targets are important in gauging all employees. Most companies still confine workers in company premises. However, according to Roy (2008), generation y employees are able to meet the company targets without necessarily being present in the workplace. ‘Why confine me in a place when I can deliver and keep a production targets at a coffee shop’ are the words of a few interviewed generation y (Roy 2008, p. 9). Understanding the behavior of this generation is a big headache to human resource managers. However, according to MCGINNIS (2011), vital information about generation y employees can be obtained from their immediate family and peers. Generation y employee growth environment and experiences are likely to shape their way of operation. A good salary drives this most skillful generation of the century and they will not hesitate to look for firms that are keen in satisfying their desires. Generation y communication is limited to their friends at the social media. Most of them are unable to open up to company management. To be versed with their thoughts on various aspects, human resource managers need to befriend them at the social sites. Generation y employees share some attitude with their parents. Parents have been able to take them through the education system, ‘saving’ their children from ‘unfair’ tutors and circumstances. They share their feeling about every aspect of their life with their parents. It is therefore paramount that the parents contribute to a large extend their character traits. Providing mentorship and spending more time with them helps managers, understand their reaction towards a number of aspects.
In conclusion, companies that have successfully related well with generation y employees have been able to thrive in their respective industry (Andy 2008). Being able to multitask together with their unmatched stamina helps generation y increase their performance in the work place. Their speed of accessing and grasping information is remarkable. Generation y ability to focus on company results and their drive to change the world enable a firm increase its turnover. To attract and retain generation y employees, firms need to adopt sound policies i.e. the training and development programs. In addition, company traditional culture of promotions need to be shelved to ensure that promotions and rewards are triggered by merit. Generation y employees will continue to pose challenges to human resource managers. However, keeping pace with their demands will drive firm vision. Aligning companies to environmental and other social responsibilities will tend to interest these employees (Damian 2011). Moreover, allocating some time for mentorship and bonding enables firm managers understand their character. In addition, help in molding them to align with company values. In summary, this emerging workforce demands innovation in the human resource department.
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