Article (April-2020)

Articles

How to Recruit, Incentivize And Retain Millennials

Dheeraj Sharma

Designation : -   Author

Organization : -  Sage Publications India Pvt. Ltd.

01-Apr-2020

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Many researchers believe that millennials are more eager to see and implement rapid change in their workplace. Although not only do they bring with them higher levels of values such as innovativeness, responsibility and credibility, but they also appear to have lower resilience and underdeveloped coping mechanisms.

The author, in this book of original ideas and application for India’s contemporary organization, urges that we find ways to leverage the demographic dividend efficiently and prevent it from converting into a demographic disaster. To manage the millennial workforce effectively, managers need to be trained to recognize and then implement this idea of special dividend of young population. Minnennials would play a critical role in India in the years to come as it strives to become one of the three biggest economies in the world. Additionally, nearly 50 per cent of the millennials are already primary breadwinners amongst Indian families. Millennials are the largest demographic segment in India today and, therefore, are going to be primary drivers of the India economy and India society. Consequently, a more nuanced understanding of millennials is vital to the growth of Indian economy as well as Indian society. This book fills the gap in understanding the psyche of millennials and suggests strategies to adopted in retaining and managing millennials at the workplace.

This book attempts to addres these pressing issues. It show-cases why millennials today are different from previous generations. What are the specific differences between millennials and other generations?