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Managing employee retention
Managing employee retention
Managing employee retention
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The Millennial Generation has increased their share of the workforce substantially in the last few years and by 2025 they are expected to make up over 75% of companies. Leaders can no longer cast this group aside and simply continue doing business as it has always been done. They must throw away the misconceptions that Millennials are entitled and needy and start to realize the benefits the generation can bring stemming from growing up in the 80’s and 90’s. The Millennial Generation must not just be embraced, but catered to for organizations to succeed and thrive in the years to come. This will need to include a complete reshaping of what it means and what is involved in managing a new employee. Engagement in the workplace has shown to produce many benefits not just for Millennial workers, but for Baby Boomers and Gen X’ers as well. Engaged employees perform substantially better than their disengaged colleagues, and are more loyal to their companies. Despite the benefits of engagement in …show more content…
Engaged employees are known to be overachievers that go far beyond the minimum that is requested of them . They “take pride in their work, are passionate about and energized by what they do, [and] are committed to the organization, the mission, and their job” . In general the biggest drivers of engagement revolve around employees liking and being passionate about the work that they do, trust in senior management and their vision, feedback and recognition opportunities, and the belief that they will be able to achieve their career goals and develop both personally and professionally . Millennials specifically yearn for consistent and specific feedback and purpose in what they do. In fact, “51% of [Millennials] were prepared to accept a lower wage or lesser role if their work contributed to something more important or meaningful”
Workers feeling, which includes competitive compensation and reward strategies, professional growth and development, career paths and succession plans and the organizations leadership and culture are contributing factors of employee engagement
Boomer’s see millennial’s as having a short attention span which is not what millennial’s intend. If they don’t see a job working out, they are faster to jump ship than Boomer’s and that fearless attitude actually leverages them more power with their company. Sherry Buffington, co-author of Exciting Oz: How the New American Workforce Is Changing the Face of Business Forever and What Companies Must Do to Thrive, says that they have the upper hand because they are perfectly fine working dozens of different jobs in their lifetime. “In a survey conducted by IdeaPaint of 600 employed Millennials, 49 percent believe that poor management is dragging their company down; 45 percent attribute that to the lack or misuse of technology solutions.” (Avallon) This helps the reader to better understand the mentality of millennial’s. They are typically more tech savvy then their older bosses and feel they could make more of an impact if they were in charge. Millennial’s are hard-wired to think that time really is their most important resource. If they feel they aren’t being treated completely fair then they won’t hesitate about trying to find a new
This spoiled generation has hit a wall called life and is currently trying to find a way to get over it. The workplace has been a brutal environment for generations now. The millennials, also known as Generation Y, are not the first generation to want change in the workplace, but they are the first ones to be brave enough to step up and place their demands over their own job. The millennials shouldn’t be criticized, they should be admired by every other worker in the workplace. Matchar supports the addition of millennials, but added negative connotation in her article about them.
As Andres Tapia mentioned, “ To be young is to be experienced”. Millennials have a different perspective about how to success in life. Since millennials are born during this current era, they have an advantage over people that were born before. With the inclusion of technology, it is easier to learn and apply new knowledge than before. A good example is the “Apps”. It is only necessary to create an app that attracts the interest of many consumers to start making money. Finally, Millenials have the ability to adapt and evolve. Millenials are the representation of
The millennial generation is made up of people that were born from 1978-1999. People from older generations say the millennial generation people are growing up being unprepared for the real world. In an article titled “The Tethered Generation” written by Kathryn Tyler she talks about why the millennial generation is so different than any other generation. She also explains how they depend heavily on their parents well into adulthood. In this article Tyler allows the reader to see why HR professionals are worried about the millennial generation entering their work force. Using Toulmin’s schema the reader can judge the effectiveness of Tyler’s essay to the audience, and this schema is used to persuade the audience to
Boston, MA: Pearson Sivarethinamohan, R. R., & Aranganathan, P. P. (2011). Determinants of employee engagement
While baby boomers believe that traditional hierarchy in the workplace is the appropriate method, Millennials tend to take a different stance. As for the workplace, Millennials differ from
AB appears to struggle with trust. During initial engagement he is described as guarded. He appears not to be forthcoming about some things. AB stated things he has said has been misconstrued or misinterpreted. So he has become selective in the information he shares. He has had encounters with various service providers throughout his 15 years in care. When he appears uncomfortable he shuts down. When he believes he is being judge or degraded he becomes offensive and verbally aggressive. AB needs additional time, additional time and positive reinforcement. He needs to feel as if he has control of areas of his life. During the engagement process, one should focus on him as a person and she him as a victim of the trauma he has experience.
Millennials are often derided wrongfully for being lazy and entitled. On the contrary millennials are quite charitable and making changes in the world politically socially and economically. Despite the common narrative, Millennials are more than capable of changing the world through philanthropy, ethical consumption and politically.
Millennials are rumored to be “self-centered, unmotivated, disrespectful, and disloyal, contributing to widespread concern about how communication with millennials will affect organizations and how they will develop relationships with other organizational members” (Karen Myers 225). According to Sharon DeVaney, the millennial generation “were born between 1980 and 2000” (11) and that “The millennial generation is larger than the 46 million who are in Generation X and the millennials are almost equal in size to the 76.4 million in the baby boomer generation” (12) to this day.
With the current change in demographics throughout the workforce, organizations are feeling the effects of a larger percentage of baby boomers retiring and a large percentage of millennial new entrants. The words used to describe millennial employees, “spoiled, trophy kids, ambitious”, seem to be as everlasting as the constructive and negative perspectives attached to them. Many can debate on the entitlement of these employees within an organization, how these employees can be groomed and managed to better fit the organization, the positive and negative attributes they bring into the workplace, and how the preceding can benefit or derail the effectiveness of an organization. Nonetheless, a harder debate, comes about in denying that organizations must adjust to and integrate these employees into the workforce.
The employee engagement has become a hot topic of discussion in the corporate world. There is no single accepted definition of engagement or recognised approach for measuring or raising it. HRM Practitioners have involved in quite a lot of study to understand employee engagement and its impact on the performance of the organisation. According to them, employee engagement is a level of commitment and involvement of employees towards their organisation and its value. An engaged employee works with his/her colleagues to improve their productivity within their job, for the ultimate benefit of the organisation.
Employee engagement, a term devised by Gallup research group, is viewed as an important management tool for any company who wants to be an effective and productive organization. Researches have shown that employee can contribute positively to the organization vision and goal when a company engage them effectively. The employee will also feel more passionate about their work and have a sense of belonging.
Here are some figures that display how Employee engagement practices have bolstered up the efficiency and productivity of the employees and in return have augmented the profits of the companies. According to a new meta-analysis that was conducted by the Gallup organisation amongst 1.4 million employees, the organisations that focus on employee engagement practices to a large extent have reported 22% increase in productivity. These practices even impr...
As the largest generation on the planet (Jenkins), the Millennials (otherwise known as generation Y) have faced plenty of scrutiny from the previous generations. A Millennial is the demographic group made up of anyone who was born between the years 1980 and 2000. This group of young people has proved to be a great contribution to society and also to the advancement of technology. They do things in their own ways and on their own terms, always approaching a problem in the most efficient way possible for everyone. Millennials have settled numerous issues in our society and they are expected to change our world exponentially. Millennials adapt to new technologies very quickly, however, while Millennials see themselves in generally positive terms such as ‘tech-savvy’ and ‘up to date’, many people from the older generations see them as ‘spoiled’ and ‘lazy’. The new technologies do make living everyday life easier and more functional, however, Millennials are not at all ‘lazy’ for taking advantage of them. Millennials use these new tools in incredibly innovative ways and they see the world in a completely different light.