The survey also showed that the scope of a provider's benefits is an increasingly important element for generation Y
when they're choosing a carrier.
To successfully hire and retain this new generation of employees, it is essential that employers gain a complete understanding of what makes its members stand out in the workplace and how Generation Y
workers can help the organization to succeed.
, or the "echo generation," is composed of the children of the boomers and "echo" their impact on society.
According to Jeremy Lahoud, lead organizer of Generation Y
in Chicago, "Fifteen years ago, there wasn't a lot of student leadership in school reform.
The study predicts that Generation Y
households will outnumber Generation X households within 10 years.
But only if we treat Generation Y
as important and cover young people and their interests just as thoroughly as we cover other segments of our readership.
Today, Generation Y
(those boom from 1977 to 1997) seems to be edging out Generation X in terms of coverage in the literature and with emphasis upon the financial clout this group of young people has.
Earlier research shows that Generation Y
is unique in its taste for everything electronic--especially downloading music from the Internet.
As I write, I have just read the preliminary results of CIMA's global generation Y
In just three years, nearly 63 million Generation Y
employees will dominate the workforce, outnumbering the 48 million baby boomers and all other groups of employees at work in 2014.
Stereotypes associated with Generation Y
include the preference to work smarter, not harder and the desire for immediate feedback and rewards.
This article considers the impact of the new generation of employees entering the hospitality workforce and the changes in management paradigms that will be required to successfully recruit, select, train and motivate Generation Y
(Gen Y) to achieve the goals of the organisation, given the strategic importance of human resource management in creating competitive and sustainable service organizations.
The Department of the Navy is one of many employers trying to understand Generation Y
employees: Some can't live with 'em; no one can live without 'em.
The government can be in the forefront of understanding and retaining Generation Y
by conducting research, validating results based on proven mathematical techniques, and slowly changing the retention landscape with these results.