Gen Next with their aspirations and expectations is posing new challenges! How can Organizations manage, retain, leverage this talented Generation?”

 

Multiple generations in organizations are a reality today but while each age cohort has its own distinct (sometimes similar) set of values, how they deal with authority, orientation to the world, sense of loyalty and expectations from leaders and their work environment

– Gen Y is posing new challenges with their ability to deliver a n d inability to stay long in assignments. With over 50% of High

Performer High Potential Employees (CEB Research) in most organizations, and over 50% of their employee pool constituting Gen Y – this is undoubtedly a talent pool to be reckoned with – employers can ignore at their own peril.

While there is volumes of research available in the West on attracting, managing and retaining Gen Y as the complexities in the talent market in India multiply, more and more corporates, researchers, educationists in India are becoming increasingly interested in unfolding data on this generation, who they

are, what they like, what they are expecting from employers, what they want to contribute to society, and what all is truly important to them.

Busting the myths

The Strategist has conducted some very insightful research on Gen Y respondents across India that helps us pin down some of the curiosity existing in understanding the expectations of this generation better.

1. As organizations prepare for conducting their campus placement exercises this year, it is important to understand how this generation makes choices and what the key  motivators are, as they choose  a company, Unlike popular perception that they may have  us to believe that  money is  the chief motivator to attract talent – t h e research clearly confirms that the role on offer and  brand  of  the organization  are  the  greatest motivating factors to choose.
2. Which also brings us to the chief reason they may have to  leave  an employer to join another one – money? Not really! The research confirms that growth opportunities and options for job rotation in the organization are chief motivators for

In a recent dialogue with a group of vice presidents of a leading company in the ITES space, there was a firm view that this generation was easily swayed by  money. Until I began asking some pertinent questions like:

• Did the employees have line of sight of the career paths for their roles/ career ladders?
• Did the managers ever invest in a career dialogue with their teams?
• Did the employees have options for cross exposures within the company?
• Was there a strong coaching- mentoring culture prevalent in the organization?

Th e responses to most of these questions was a ‘No’ and suddenly the penny dropped on what was sorely missing in their retention strategy for retaining Gen Y.

1. What is the real magnet to attract Gen Y to your organization?

– An attractive package?

The research  confirms clarity on job profile during campus interactions can prove to be the real magnet – can even surpass brand and money sometimes if the role is positioned well.

2. Gen Y and their penchant for Web 0 products we all know of, which is also why this generation is called the Millennial kids, the Nintendo Generation and Gen (I). What role does the company’ s websites play in attracting the right talent?

The question employers need to ask themselves is whether the career page on  their website offers a true and detailed picture of the roles being offered on cam pus. Are we using our we b sites well to enhance our organization’s  brand and reiterating  growth opport unities within  the organization to excite Gen Y to apply/ join?

Having attracted and hired Gen Y, understanding their expectations from the employer are important to enable a happy,  productive journey, and most importantly retention.

1. Providing clarity on roles is key for engaging and retaining Gen This is probably the single biggest driver of engagement – ” I Know what is expected from me at work.”

The tolerance for am biguity of roles commonly found in previous generations is absent, as most of Gen Y get disenchanted, disengaged if they are not clear on what is expected, and what will make them succeed.

The same holds true for career paths and other expectations. These need to be clarified and articulated by the employer to enable Gen Y to stay. Having clarified, be ready  to be confronted if you don’ t deliver on the promise. Gen Y by the click of a mouse, can let others in their cohort know about their experience, should an employer overpromise and under-deliver.

1. Workplace communication is another key tool for Gen Y retention. Most  Gen  Ys   p refer regular communication with their bosses and enjoy working in organizations where both the formal and informal channels  of communication are strong  and  in  cultures  where managers are  equipped to  share information and listen  to  their employees. Access to managers, frequent conversation s and feedback is key for retaining Gen Y.

1. Gen Y need latitude to perform and

Managers need to be ready to delegate and give G en Y the freedom to perform. Being encouraged to think independently and working in an environment where their opinion counts are great drivers for engagement and retention of Gen Y.

This is in sharp contrast to the previous generations which were more tolerant to compliance, understood if their independence was curtailed and worked hard to perform to earn their ‘voice’ to be heard.

1. Gen Y believes strongly in an equal Policies must treat all members equally and speed of decision making is key for Gen Y. Slow, lethargic processes and visible unfairness in the application of policies are drivers of disengagement. What employers must remember is that this generation has a choice and will exercise it if they believe the work environment is not objective.

1. Workplaces must enable the expression of individuality and Gen Y believes in expressing themselves as is amply visible from the social networking opportunities available to
2. Having a say, working in a place where their opinion counts, an d working for organizations that value their opinion even if they don’t have experience is very important to Gen

So what must organizations do to manage these expectations, and make their organizations Gen Y magnets? Given that they will constitute over 50% of the workforce in any organization irrespective of the type of industry by 2020 is enough reason for employers to  take  this cohort and their expectations of employers seriously.

Here is a list of what works:

1. Develop learning organizations that offer employees web based learning opportunities- Enable development to become a centre-stage activity –  non  optional,  not peripheral like it is in most organizations. Individual development plans and a plethora of learning opportunities to choose from can enable Gen Y to learn in their time, using web based programs of their choice.
2. Get your company website Gen Y ready – saying all that you can on the roles on offer, growth opportunities, your culture and so

Having defined your propositions, ensure there a re programs in place to deliver on the promise.

1. Enable job mobility through

internal job rotation programs, cross functional opportunities that are upfront stated to attract this talent pool.

1. Enable role clarity, flexible  job descriptions that can leverage strengths and ensure a strong coaching mechanism to ensure stretch deliveries on the
2. Coaching and mentoring is the most powerful retention tool for this generation. Being anchored to a mentor who is genuinely committed to the learning and career development of young professionals is the most powerful way of ensuring retention of this age cohort.
3. Leaders must be groomed to handle this generation. Gen Y is demanding of authentic leadership, Leaders who walk the talk, are true role models. Leaders who lead this generation with authenticity are bound to influence positive retention.

Finally organizations that would like to truly leverage the power of this generation must be aware of their values and drivers. They must have mechanisms to blend the organizational goals with the personal goals of this age cohort. Gen Xers who often lead Gen Y may have different perspectives, but must be groomed to handle this cohort well, coach them to perform, and avoid potential conflicts arising out of mismatched values. Equality and being treated fairly is very important to this generation. Also, developing multiple skills and strong mentoring programs can positively influence both performance and retention. Generation Y is capable of maturity to deliver but  is  restless if their beliefs are not validated by the employers. They combine the can- do attitude of the veterans, the team work ethics of the    Boomers, an d the technology savvy and ability to manage change of Gen X. This cohort is more evolved, more aware, are generous and socially conscious. Purpose, meaning, commitment are important to them, but they have saved their best for the employer who delivers on his promise – first!!