News & Articles
11/1/2021: How Generation Y choose their employer? Are we aware of their motives and needs?
Generation Y is one of the generations which has recently made its presence felt into the labour market, a fact that has to be taken into serious consideration by organisations since those who belong to Generation Y do not have common characteristics or shared values, even work-values, compared to previous generations.
Organisations, in order to recruit and retain the most suitable and talented employees in their workforce, so as to achieve a competitive advantage, ought to be aware of their motives and needs. Having realised the expectations that young people have for their job, organisations will manage to adopt best recruitment and selection practices and improve employee satisfaction in order to retain top talent, which is the ultimate goal to attain.
On the other hand, as far as the individual is concerned, it is of utmost importance that the working environment provides opportunities for employees to satisfy their values and needs. When the individual manages to adapt to the working environment, the impact on employee satisfaction could prove beneficial, while achieving maximum work efficiency and organisational commitment in order to continue working for the organisation.
It is important to identify the factors that influence the decisions of those who belong to Generation Y regarding their professional career and choice of the best employer to finally work for. Therefore, career anchors and the psychological contract should be dealt with. So, we need to consider their theoretical approach, their relationship with work attitudes, i.e. job satisfaction, organisational commitment, and employee intention to leave the company, but also their relationship with Generation Y.
The most important career anchors for Generation Y are security-stability, lifestyle, and service to a cause. Also, young people consider that the most important obligations of an employer are trust and respect, fair treatment, honest and open communication, job security, and recognition of achievements. Nevertheless, the obligations which have never been adequately fulfilled are opportunities for personal growth, salary and bonuses based on performance, competitive salaries depending on the industry, opportunities for promotion, and development.
Violation of the above, and all other obligations, has been proved to be positively related to job satisfaction and organisational commitment but negatively related to intention to leave the company. So, employers should spend sufficient time to learn and understand Generation Y if they want to be appealing for it.