The Gen Y workforce of India

Generation Y refers to the specific generation born between the 1980’s to the early 1990’s and is the term given to this Generation after proceeding Generation X. Generation Y comprises primarily the children of the baby boomers (born between 1946 & 1964) and typically perceived as increasingly familiar with digital and electronic technology. Millennials, Y Generation, Generation We, Echo boomers and many more terms have been used to describe this generation. By 2025, members of Generation Y will make up 70% of the global workforce. India will have the largest number of people in the working age group of 15–59 years and half of India's population is already below 25 years of age. Learning how to attract, retain and capture the full value of this new workforce will become imperative for an organization's success. To retain this vocal and ambitious generation at an organization, Indian HR managers need to understand what the characteristics of Gen Y Indians are. Thus, this conceptual study is undertaken with the objectives of studying the characteristics of Indian Generation Y workforce and to suggest strategies to manage Indian Generation Y workforce. The Generation Y values sustainability are flexible, mobile, collaborative and unconventional. They prioritize opportunities to learn, work, colleagues and corporate culture & value when it comes to deciding for which job to apply for. They prioritize collaboration and interaction in the workplace and require particularly access to dedicated team spaces as well as ample breakout spaces. Strategies to manage them include creating a bond like giving them a sense of belongingness to the organization, by providing Gen Y friendly rules, providing them a big picture of where exactly the organization is moving so that Gen Y can see where their work is fitting into the overall strategy.