In today’s world, people’s lifestyles are witnessing a paradigm shift. Employees of Generation Y, also referred to as the Millenials, have vastly different priorities in life as compared to the generation that preceded them. Organizations have recognized this and as a result, management styles are being revamped to accommodate this.
According to an article by Business Insider, Millenials are encouraged to obtain an undergraduate degree and choose their careers and subsequent organization with care. Moreover, the underlying idea is to establish an identity, a life purpose that should be the driving force behind their activities.
Millenials have high expectations of their employers. One of the best examples of this is that they expect an organization to make an effort to facilitate their motivation to work. As a result, organizations now invest in developing a successful employee benefits program for this very reason. This may include health insurance, flexible working hours, food and beverage, employee activities, pension plans, and even a bonus scheme. Of course, the more generous an employer’s benefits package is, the more likely it is that employees will remain at the job. It will also be attractive to any new hires and more information about this can be found over at https://blog.edenhealth.com/what-are-employee-benefits.
Here are some other ways in which the employees of today can be successfully managed.
Gen Y has grown up in an age where people are connected all the time. They are extremely tech-savvy and accustomed to using the latest technology to facilitate their work. Consequently a work environment which encourages the use of technology will be highly attractive for them.
Managing goals online
Developing a system by which Gen Y employees can establish their long term goals online can be very successful in motivating them. Using technology to facilitate online goal management which is shared amongst employees contributes to team-building and a conductive work environment.
One of the observations about the Gen Y employee has been the need for consistent feedback. This is another manifestation of the basic expectation that they have of being taken care of by the organization.
Gen Y is no longer accepting of the traditional 9-5 job. They demand flexibility in their work hours and the element of choice in the work itself. An organization that provides that flexibility in the work environment is highly appreciated and also results in fostering highly loyal employees. Gen Y employees view such organizations as being committed towards ensuring their growth and empowerment.
Gen Y employees seek to find meaning in the work they do. As a result they are highly ambitious, confident and achievement oriented. If they are not content, they will question their authorities and are prone to job hopping.
It has been observed that people belonging to Gen Y travel very frequently. Consequently organizations could benefit from engaging the services of companies that provide travel programs. PointsBank is one such company.
The appeal of higher salaries at the cost of more working hours is no longer there for Gen Y. Time is now viewed as the more valuable resource. As a consequence, flexibility in work hours, fewer work hours and a healthy balance between work and life, have greater importance for a Gen Y employee. Moreover, spending time with their families is ultimately more important for them than work.