A Psychological Study On Gen Y To Reengineer HR Policy & Structure

The changing demographics and the rise of millennial generation at the work place is an indication that the organization now need to rethink about their policies, culture, structure and design of the workplace along with the compensation management & working style. The youth today is vivacious, passionate, having high aspirations to reach high in short period of time butwanting a perfect work life balance and not compromising on their life style, their passion for their hobbies. The youth today is very demanding & have their own way of working they want continuous feedbacks & immediate appreciation for their work, they believe in performance & want to climb the hierarchy in short period of time &the growing number of young CEO & youth at top positions shed light on the same. The statics clearly indicate that by 2020 India will have highest number of youth in work place, the challenge in front of organizations in firstly to understand their psychology & then develop this talent for not only for the growth of organizations but for the country. This research paper puts light on the youth their spending habits, consumption patterns, happiness & challenges further leading to restructuring the HRM.