Generation Y talent : what do they want and what attracts them to employers
Thesis (MBA (Business Management))--University of Stellenbosch, 2010.
The world over, South Africa included, companies are beginning to realise that while success is measured in terms of profits and shareholder return, people and in particular, talented people drive and deliver that success. With this realisation has begun the war for talent, whereby companies now compete with each other for the best people in the pool, knowing that these talented individuals will drive sustainable success both in business ventures and over competitors in the marketplace. With this swiftly becoming the status quo, the strategic role played by human resources (HR) becomes integral to organisational success as a major facet of company strategy now needs to focus on human capital and talent management strategies in order to attract and retain the best talent to deliver business success. With Generation Y professionals entering the workforce by the masses, companies and their HR departments swiftly need to identify effective ways to best engage with Generation Y employees. As Generation Y is the only growing generational population in the current workforces of employers, the need to develop strategies, procedures and policies to address their career needs, desires and wants is becoming increasingly crucial. Companies seeking to be sustainably successful in the long-term need to begin to identify what will need to be incorporated into their current practices to appeal to Generation Y in order to motivate, attract and retain Generation Y talented professionals. While Companies acknowledge that talent is a major driver of business success and sustainability, this acknowledgment does not automatically lead to the development of strategies focused on facilitating Generation Y as the main population in the workforce. Currently little research and literature exists regarding Generation Y career needs and wants. Compounding this is the fact that many companies design and implement HR strategies aimed to address the career needs and wants of older Generations, who are either already exiting or beginning to exit the workforce