Great employees are an asset to the company and all HR managers must strive hard to retain their talent pool. By using the above mentioned employee engagement tactics, managers can improve employee retention and loyalty.
Generation Y or those in their teens or early twenties have started forming part of the workforce already. By 2025, it is estimated that Gen Y would be a majority of the workforce. Gen Y has different workplace requirements and aspirations as compared to their predecessors.
These youngsters are more social and have more needs to connect socially. They live and breathe the internet. The Internet as a way to connect socially has widespread acceptance among the youth globally. This is different from how their previous generations connected, personally. The youth sees the internet as not just a way to connect but also a way to network.
According to a CISCO report, Gen Y values their freedom, flexibility in work culture and choice of technology above most other things. 70% of Gen Y is connected with either their co-workers or superiors on their Facebook. Similarly, about 68% of Gen Y follows a co-worker or superior on Twitter. About 46% say that laptops are the most essential item of their day-to-day lives.
These numbers, which are specifically for the United States, mirror a global trend for internet and technology preference among Gen Y. This has or must have a great impact on organizations around the world and how they tackle their workforce. It is observed that about 54% organizations did not allow their workers to use social networking while at work and only 19% allowed its access, that too strictly for business purposes.
But, if the Gen Y employees are to be engaged and retained over a long term, companies and HR departments would have to make changes. Gen Y thinks differently and HR teams around the world need to embrace this fact.
Some of the ways in which HR departments have started making changes are:
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