PRESENTATION on Retention of Generation Y Employees by Shweta Kadel
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Transcript of PRESENTATION on Retention of Generation Y Employees by Shweta Kadel
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7/31/2019 PRESENTATION on Retention of Generation Y Employees by Shweta Kadel
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SUPERVISED BY: -
Dr Ankita Gangwal Jain
Head, Department of HRM & IB
The IIS University
SUBMITTED BY:-Ms Shweta Kadel
MBA-hr (Semester II)Enroll No. ICG/20II/12758
A Seminar Presentation
On
SUBMITTED IN PARTIAL FULFILLMENT TOTHE IIS UNIVERSITY
For degree of
M.B.A- Human Resources
Department of human Resource Management
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Family-Centric
Team-Oriented
Fast moving
Multi tasking
Tech-Savvy
Achievement-Oriented
Optimistic
Attention-Craving
Confident
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EMPLOYEE RETENTION Employee retention is a process in which the
employees are encouraged to remain with theorganization for the maximum period of time or until
the completion of the project.
.
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Importance of Employee Retention High turnover often leaves customers and employees in the
lurch
Replacing employees costs money.
Recruiting employees consumes a great deal of time andeffort
Loss of company knowledge.
Turnover leads to more turnovers. Goodwill of Company.
Regaining efficiency
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Generation Y
Employee Retention
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THE CHALLENGES OF RECRUITING AND
RETAINING GENERATION Y
High Expectations
Lack of understanding
(generation gap)
Difference of views
Career advancement
Continuing Education
Exposure to Career PathOpportunities
Encourage innovation
and creativity
High aspirations
Dynamic environment
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Retention Strategies that Resonate With
Younger Employees or Gen Y employees
Make work more meaningful andmore fun.
Appeal to their sense of communityservice and civic engagement
Find out what makes them tick
Keep them on their toes
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Need Of Increasingly Innovative
Human Resources Policies
Innovation can help organizations better position
themselves in terms of human resources strategies, provides innovative ideas that organizations can use
to help recruit, develop, and retain top talent in thedecades to come.
Gen y means new generation and it demandsinnovation ,therefore companies should adopt newand innovative h.r policies to attract and retainemployees.
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INNOVATIVE IDEASThought in a Sessions with some of the worlds most creative,imaginative and unconstrained college students.
Ideas for recruiting and hiring GEN Y people No standard interviews hire people based on truly getting to know
people and understanding their personality and long-term goals Recruit through Face book Hang out with prospective employees on college campuses to get to
know them Ideas for creating an ideal (physical) work space for GEN Y people
Office space with room to relax and chill out with oxygen bar, music,videos, hip dcor Fun, out of the ordinary activities available at work, like trap shooting
or rock climbing Room to take a quick nap if needed
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Research Methodology
Research Methodologyis generally a guideline for solving aproblem, with specific components
OBJECTIVES OF RESEARCH To find out the reason of high rate of turnover of Generation y
employees To find out what exactly Generation y thinks , what is their point
of view. To find out the ways or methods that would reduce employee
turnover. To remove various myths about Generation y. To find out, is generation gap really a problem at work place?
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Limitations of research Limitation of scope, being a research at small scale the research
has a narrow scope and has not been able to cover all aspectsrelated with generation y.
Limitation of non representative sample , as the sample size was
of just 50 people It is thereby not possibly a proper representative on the entire
generation y work for of the world. Hence making it the biggestlimitation.
Limitation on dynamic factors of research, as the research deals
with generation y employee, as per the human nature it keepschanging and hence is dynamic making research obsolete verysoon making it less dependable for future preference.
Limitation of experienced researcher, me being a lessexperienced researcher also serves as the limitation of theresearch.
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Research designResearch design is the structure of any scientific work
Types of Research Design
Exploratory Research
Descriptive Research
Causal Research
This research is basically an exploratory research
which was conducted to get basic knowledge ofthe reasons that make the young generationemployees leave the organization and to find outways of retaining them.
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Data Collection
Data collection is a term used to describe a process of preparingand collecting data.
Data source--Primary data
Primary research consists in research to collect original data.-Secondary data
Secondary data is data collected by someone other than the userIn this research project we have basically used primary data
which was collected with the help of Questionnaires which werefilled 50 employees of Genpact belonging to Generation y withsome secondary data which was collect from different books andwebsites.
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GENPACTGlobal leader in business process and technology process and technology
management
Type : Public
Industry : Business Process Outsourcing
Founded in : 1997
Head Quarters : Gurgaon India
Employees: 53,600
Website: Genpact.com
Genpact drives process improvements to help globalenterprises improve their revenue, margins, speed,and customer relationships
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THEIR
VALUES
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How much satisfaction are you getting at the present
job?
its a life longcareer choice
12%
it's good and
you would liketo work here for
some tim40%
you will leave assoon as you get
another job38%
you don't wontto work here
anymore10%
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Generation Y Employees seek
A job withvery high
pay32%
A challengingjob10%
A good job thatgives properrecognition
40%
A job that givesenough
freedom toprove yourself
18%
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How is the grievance handling
mechanism of your organization?
its very prompt
and non biased37%
Decisionsare delayed
14%
its ok,butbiased a times
45%
its not good atall4%
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Innovation and new challenges how important do
you consider these factors at work place?
Very importantas monotonous
jobs are boring.40%
Itsimportant asyou get tolearn newthings and
develop
You preferdoing
traditional
jobs20%
They hardlymatter
10%
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Generation y works because they want?
A luxirious life
32%
Secured future38%
Recognitionin society
16%
They want toprove them
selves14%
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What motivates you to work hard
and be a part of the organizationRecognitionand learning
oppourtunitiesprovided by the
organisation25%
Workenvironmentand culture
45%
Compensation
benefits12%
Higher job roleand
resposibility18%
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It was found that majority of generation y employees work tosecure their future
generation y employees want to dress up in business casuals It was found that generation y employees prefers flexible
working hours It was found that it is a good job and proper recognition that
majority of generation y employees want. It was found that generation y has concern for the environment
and society and want their organization to also work for it.
It was found that generation y wants career growth ,in absence ofwhich they would prefer to leave the organization. It was found that generation gap is actually not a problem at
work place for generation Y employees.
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CONCLUSION Retention is an important concept that has been receivingconsiderable attention from academicians, researchers andpracticing HR managers
Motivated employees come out with new ways of doing jobs.
Mere knowledge about the theories of Retention will not helpmanager with their subordinates. Make the job interesting and rewarding. Make a concerted effort to challenge your younger staff members. Make an effort to keep the lines of communication open. In simple words just consider your employees as your family
member understand there problem, be there for help,understand their needs , considers their opinions andsuggestions , make them feel proud and see their growth as itseasy to leave a job but not a family
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RECOMMENDATIONS Be innovative as its gen y and it demands innovation Genpact should improve its grievance handling mechanism Recreational activities should be arranged on regular basis Develop an attractive employee value proposition Create a total reward structure that includes more than
compensation Give feedback on employee performance on a regular basis Be flexible in terms of work-life balance Create a culture of engagement
Train managers to be effective Make work more meaningful and more fun Appeal to their sense of community service and civic
engagement Find out what makes them tick
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