Recognizing, Rewarding and Retaining Gen-Y Work Force for Creating High Performing Organizations

Organizations are increasingly waking up to the reality that the new generation workforce can bring the much needed change and attracting those at all possible ways. Gen Y is the fastest growing segment of today's workforce and poised to make significant contributions that will spell future success in businesses. It possesses new skills, latest technical expertise and adequate subject knowledge. As this generation brings fresh perspective and are way ahead of their veteran seniors in terms of work attitudes and operational tactics, knowledge – driven organizations are turning to this mobile and net – savvy generation for achieving excellence. Present young generation is huge and diverse group with a variety of expectations, strengths and weaknesses too. They want to achieve everything instantly and expect spontaneous results for their actions. If they are not handled properly, it can create frustrations, hindering business success. For understanding how they think and how they should be groomed, employers need to persevere to know the pulse of this generation and consistently keep them in mind to bring out the best. The character, attitudes and values of the younger, hybrid and multicultural workforce are constantly changing. Managing and retaining young generation work force is a herculean task for the management. It is depending on an organisation's HR policy, employment value proposition and more importantly the culture practiced by the existing workforce. With organizational re- structuring and right approach by the employers and also by the HR department, organizations can avoid the risk of becoming unequipped to compete in the market.