In the context of an ageing population in some geographies and younger generational’ employee critical ass’ at another geographical location, there are seemingly contradictions to the way in which talent has to be managed. In just over 10 years, approximately 75% of the North American workforce will be comprised of members Of Generation Y. Generation Y is the fastest rising demographic. Example: Anyway – Anyway business Gene- Y shoot up by 21% in recruiting and 19% in sales generated.
It is but a reality that workforce around the world are fast becoming more diverse across a number of unique and personalized dimension like age, culture, preferences, work style, employment choice, life preferences, arsenal attitude, ethnicity and sexual orientation. To be effective, they say, diversity strategies should to come extent reflect the customer base and geographies of the organization.
Technology enables business environment and intellect as a basic unit is inevitable, A TTS Canada INC research on HOC trends states, “Technological progress has enabled how HER-system contain more and more functionality that in turn bring people, technology and performance together. HER system are growing to a fully integrated unified, best of breed HOC platform solution that are comprehensive and through lolls supporting strategic decisions. Now-a-days, for many professionals, work is no longer defined by the office locations or by the hours of the day or by the specific tools used by the trade.
Flexible workdays, part – time decisions would become common with employees determining work goals, work content and work methodologies depending upon the technological infrastructure available for effective performance. So greater the technology infrastructure, the better is likely to be the individual output and contribution. Expectations and preferences of employees are becoming more diverse. Hierarchy of needs has also been changed in current generation.
Employees want more space to express their individualism and they expect that HER services and program should be flexible enough to accommodate their individual preference. Young executives wear made – to – order work wear that demonstrate their individualism. “My work has to be fun, my life has to be fun and I want to do a job that’s fun. ” is what they believe and want. Even the Young generation are no longer saving as their parents did. They will be the first generation that is not going to be better off than that parent were.
If you do not pay attention to what this generation wants, regardless you agree or not, you won’t have a business because they are such a large cohort that they do have spending powers. The company should create a meaningful rewards structure that regularly acknowledges the both large and small contributions made by employees. Also they have seen such as increased recruiting at a global level, international mobility within and across organization, they have broadened their range of employment career opportunities. Competitions for skills and talents are increasing.
Young people are also acquiring mismatch between skills and education. Alignment with corporate strategy on diversity directions needs to be attained, the organizational population built on increasingly diverse in social and cultural perspectives, viewpoints and behavior, competing and at times conflicting and this would be a part of everyday work place. Millennial are not better or worst. They are just different and will need to adopt to management. Experience is what you get when you don’t get what you wanted and experience is often the most valuable thing you have to offer.