presentation on retention of generation y employees by shweta kadel

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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presentation on retention of generation y employees by shweta kadel

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