Your keys to retaining Gen Y talent

HRM 19 Dec 2012

Managing the idiosyncrasies of the three generations in the workforce is no easy gig – it seems like everyone wants something different. But as Gen Y’s progress to leadership roles, does HR know the best cards to play?

According to one workplace consultancy firm, when Gen Y workers consider their job options, at the top of the list is whether the role is fulfilling and offers room for personal growth and career development. Meaningful work is fulfilling work, according to Gen Y. In APAC, work is considered “meaningful” if it provides the ability to excel/develop or if it aligns with personal values.

In the latest Global Workforce Index from Kelly Services, when deciding on one position over another Asia-Pacific (APAC) respondents consistently ranked these factors ahead of compensation/benefits. Just 20% said remuneration was the most important factor. “Particularly for Gen Y employees, their enthusiasm and ability to adapt to and navigate the fast-changing trends in today’s world are strong attributes that employers and managers should be tapping in to,” Karen Colfer, managing director Kelly Services Australia said. “Organisations that recognise the crucial role Gen Y employees play as future leaders and potential customers are working hard to engage them in the workplace. This engagement and mentoring helps Gen Y employees align their career goals with the organisation, which is crucial in developing loyalty.”

The top two desired employer attributes for Gen Y respondents in APAC are strong market presence/leadership (25%) and corporate culture (24%). These factors eclipsed all others including financial performance (21%), reputation for innovation (14%), longevity (6%) and even corporate social responsibility (6%).

According to Colfer, if employers are looking to recruit or retain top Gen Y talent, HR must provide employees with more rounded employment packages that feature a clear career development path. “In a talent-short environment, it is crucial for organisations to actively engage their employees across all generations, especially Gen Y. The future of businesses is with Gen Y and organisations need to recognise that they are the leaders of tomorrow,” Colfer added.

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Commented by: mohd nazim at 22 Dec 2012 05:32 PM Report this comment
placing right person to the right job

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