'How has the Y Generation changed HRM practice' Thesis

'How has the Y Generation changed HRM practice' - Thesis Example A fundamental concern in employee retention is how the so-called Generation Y affects HR practices. This issue emerged out of the principle that generations of employees differ in their characteristics, and, hence, have different needs, desires, behaviour, expectations and requirements needed to be satisfied. With the aim to investigate the impact of Generation Y on HR practices, four objectives were laid down. A case study approach was adopted for the study which is qualitative in nature. Data was collected through both primary and secondary methods. Primary data was collected through interviews of employers and survey of employees. More or less the same questions were posed to both and the responses evaluated. All the four objectives have been achieved. The study concludes that as yet organizations have not changed their policies to a large extent. They have made some changes in areas such as salaries and work schedules but training, mentoring and incentive programs still need to b e looked into. Moreover, some of the changes which they feel is in the interest of the Yers, is not what the Yers expect. The Yers expect challenging assignment s and personal development while the organization believes that they would expect higher salaries.This suggests that the HR managers have not understood the values and beliefs of the Gen Y. The Yers seek rewards and recognition programs which is a better motivator than higher salaries. The HR professionals yet do not seem to know what drives the Gen Y. The study concluded after making recommendations for further research on the subject. Limitations to the study were highlighted. Table of Contents Chapter I Introduction 1.1 Background 1 1.2 Rationale for research 2 1.3 Research aims and objectives 3 1.4 Organization of the study 4 Chapter II Literature Review 2.1 Introduction 5 2.2 Generation Y 2.2.1 Definition 5 2.2.2 Characteristics of Gen Yers 6 2.2.3 Generational differences 7 2.3 Career expectations and aspirations 7 2.4 Difference in work attitude 9 2.5 Challenge for the HR practitioners 10 2.6 Summary of literature review 11 Chapter III Methodology 3. Methodology 13 3.1 Research philosophy 13 3.2 Research phenomenon 13 3.3 Epistemology 14 3.4 Research approach 14 3.5 Research Methodology 15 3.6 Case study method 15 3.7 Time Horizon 16 3.8 Data collection 16 3.9 Data Analysis 17 3.10 Ethical concerns 18 Chapter IV Findings and Discussions 4.1 Introduction 19 4.2 Findings 19 4.3 Discussion 21 Chapter V Conclusion and Recommendations 5.1 Conclusion 25 5.2 Recommendations 27 5.3 Limitations of the study 27 5.4 Reliability and validity 28 References 29 Appendix 31 Chapter I Introduction 1.1 Background Retaining talent is a major concern for all organization in every sector. This has become intense due to labor mobility prompted by the forces of globalization. Recruitment too becomes a challenge as older members start to retire while the younger members just enter the workforce. Thus, the organizations too need to be as dynamic as the changing business environment (Reisenwitz and Iyer, 2009). They must be aware of the characteristics of the entry level recruits and understand their needs and aspirations. It may appear that there is not much difference in attitudes and aspirations between the current youngest generation, namely Gen Y and the previous generation, Gen X. Many scholars and researchers have conducted studies and they have found significant difference between these two generations. To maintain competitive advantage while also focusing on profitability HR experts experience ‘a war of talents’ as they scramble to deal with talent shortage and its consequences. To manage talent successfully an organization cannot afford to focus on the top performers alone. The