Category: Generation Y

According to Jean M. Twenge, PhD, author of, Generation, Millennials have been described as a more self-centered, thin-skinned, and lazy generation than any before. Twenge uses data derived from extensive research to give an overall view of Millennials and how they compare to other generations. She found that Millennials, who she defines as those born between 1982 and 1999, are more self-centered than previous generations were at the same age. They grew up during what Twenge refers to as a self-esteem movement; they were literally taught self-esteem. The elements of self-esteem that they were taught included that self-love is the greatest love of all; that they shouldn’t care what others think as long as they make themselves happy; that they are special and capable, regardless of what they do or don’t do; and that they should look out for themselves, and always put themselves first. Essentially, they were taught to be what Twenge refers to as an, “army of one”.

The self-esteem movement sounds great in theory, but it turns out that self-esteem is not the answer to being happy, successful and fulfilled. What Twenge refers to as an, “army of one,” I refer to as, “skilled at being alone.” Millennials were taught how to be alone. In teaching self-esteem, they were taught individual skills, not relational skills. There’s nothing wrong with being alone, but millennials, as humans, are relational beings. We all are. Teaching relational beings how to be alone is a recipe for depression and anxiety. And, as we now know thanks to Twenge’s extensive research, the self-esteem that Millennials were taught has led them to be anxious, stressed out, depressed, lonely, and disconnected adults.

Without relational skills, Millennials have their work cut out for them when it comes to dating and relationships. Relational skills are necessary to enjoy and thrive in relationships. Without these skills, closeness, connection, vulnerability and intimacy are difficult, rather than enjoyable. According to Kendra Cherry, Self-esteem levels at the extreme high and low ends of the spectrum can be harmful, so ideally, it’s best to strike a balance somewhere in the middle. A realistic yet positive view of yourself is generally considered the ideal. But what exactly is self-esteem? Where does it come from and what influence does it really have on our lives?

In psychology, the term self-esteem is used to describe a person’s overall sense of selfworth or personal value. In other words, how much you appreciate and like yourself. It is often seen as a personality trait, which means that it tends to be stable and enduring. It can involve a variety of beliefs about yourself, such as the appraisal of your own appearance, beliefs, emotions, and behaviors.

Self-esteem can play a significant role in your motivation and success throughout your life. Low self-esteem may hold you back from succeeding at school or work because you don’t believe yourself to be capable of success. By contrast, having a healthy self-esteem can help you achieve because you navigate life with a positive, assertive attitude and believe you can accomplish your goals.

The need for self-esteem plays an important role in psychologist Abraham Maslow’s hierarchy of needs, which depicts self-esteem as one of the basic human motivations. Maslow suggested that people need both esteem from other people as well as inner self-respect. Both of these needs must be fulfilled in order for an individual to grow as a person and achieve actualization. It is important to note that self-esteem is a concept distinct from self-efficacy, which involves how well you believe you’ll handle future actions, performance, or abilities.

As you might imagine, there are different factors that can influence self-esteem. Genetic factors that help shape overall personality can play a role, but it is often our experiences that form the basis for overall self-esteem. Those who consistently receive overly critical or negative assessments from caregivers, family members, and friends, for example, will likely experience problems with low self-esteem.

Throughout generations, technology has been changing and causing lasting effects on the human mind. As technology advances, many debate as to whether future generations will be less intelligent. While it is true that new technology has rewired our brains and led to shorter attention spans, the Millennial generation is not the “dumbest generation”, as Mark Bauerlein suggests, because the younger generations have higher IQ levels and because we pursue and use knowledge in different ways.

Bauerlein is correct that technology has led to changes in our brains and led to a shorter attention span. Now, teens are not focused on enjoying learning and remembering factual data forever, but rather keeping pace with the competition around them to get into the best college possible. As Bauerlein says, if you “ask this wired and on-the-go high school senior a few intellectual questions and the facade of in-the-know-ness crumbles”(Source 1), showing that young adults have changed their priorities to other things. Millennials do not have facts and statistics memorized as we have, “the advantages of having immediate access to such an incredibly rich store of information is many”(Source 4). Although people can make the case that the use of the internet makes Millennials lazier, it is in our advantage as we are able to quickly bring up anything we want through using Google. With having all this information stored for us on the internet, there is no need to memorize certain useless facts that are needed only to impress others or pass a geography test. R. Smith Simpson, in 1962, went out to prove that many Americans lack geographical knowledge and that “few could even place accurately the principal rivers”(Source 5). Though this seems as if younger Americans are lacking in intelligence, there is just simply no longer a need to store all these bits of information within our heads due to the world wide web. This allows us to relieve our heads of the burden of remembering countless facts, and to remember the more important things in life, such as spectacular moments spent with our families. Although technology has led to shorter attention spans and altered brain functions, this does not make Millennials less intelligent as we have access to a plethora of information through the world wide web at our fingertips.

Nevertheless, this is not the dumbest generation as we have higher IQ levels and an ever growing thinking capacity. As time has been going by, “IQ scores in every country… have been rising since the 1930s”(Source 2). These tests do not measure knowledge but rather thinking capacity, proving that as technology has developed, so has the human mind. The burden of storing multitudes of information in one’s head has been lifted, allowing for the formation of more cognitive thinking skills. The improvement of technology, is “changing how people’s brains process information”(Source 2), showing that though we do not think the same as previous generations, we are not less intelligent because of this. If anything, this change in how brains process information is a step forward for mankind as a point of microevolution and adaptation to the world around us. Many try to argue that videogames and television are factors taking away from our intelligence but infact, these recreational sources, “challenge mental dexterity”(Source 6). By challenging our minds, we give our brains a workout of sorts, helping us strengthen our quick reflexes and improve our brain capacity. Since the generation before the Millennials did not have access to resources to improve their minds like we do, our brains change and gain new thinking capacities allowing us to become more intelligent and practical.

With technology becoming so advanced, we now pursue and use knowledge in different ways. Due to, “its immediacy and breadth of information, the digital world lowers barriers to self-directed learning”(Source 3). This allows us to adapt along with technology and when we truly love a subject we have to ability to learn on it with ease. For example, with the help of my computer, I was able to teach myself the major chords of the guitar and learn a couple of basic songs. Since I was able to access the internet, I was able to pursue an interest and learn how to play the guitar. The amount of things the Millennial group has access to through the internet allows us to follow different pathways and enjoy freedom of learning about a broad width of things. This exploration allows our minds to mature along with the experiences and informations we find. Along with social media and texting comes the assumption of young adults being lazier due to their overuse of these things. The surprising thing is,“young people today write far more than any generation before them”(Source 7). Through using social media and texting as a creative outlet, Millennials are writing far more than older generations did outside of school. This increase of writing allows us to be more adept in adapting our tone after assessing our audience creating a connection with those around us. The change of style in pursuing knowledge, which was brought upon by advancing tech, allows our generation to become more intelligent than previous generations.

Through technology’s advancements, it has led to shorter attention spans and has rewired our brains. Though this is true, the Millennial generation is not “the dumbest generation”, as we have higher IQ levels and pursue and use knowledge in different ways than the generations before us.

Last year, many millennials seemed to be planning near-term exits from their employers. But, after 12 months of political and social upheaval, those ambitions have been tempered, according to Deloitte Global’s sixth annual Millennial Survey. Young professionals now indicate they’re less likely to leave the security of their jobs, more concerned about uncertainty arising from conflict, and—especially in developed countries—not optimistic about their future prospects nor the directions, their countries are going.

The findings are based on the views of almost 8,000 millennials questioned across 30 countries in September 2016. Download the report The Deloitte Millennial Survey 2017Pessimism in the developed world runs rampant Millennials in emerging markets generally expect to be both financially (71 percent) and emotionally (62 percent) better off than their parents. This is in stark contrast to mature markets, where only 36 percent of millennials predict they will be financially better off than their parents and 31 percent say they’ll be happier.

Economic, social, and political sentiments: A chasm between the developed and developing world terrorism, “conflict” issues replace environmentalism as top personal concerns“Pro-business,” but expecting moreMillennials view business positively and believe it’s behaving in an increasingly responsible manner; 76 percent say businesses, in general, are having a positive impact on the wider society in which they operate. However, they also believe multinational businesses are not fully realizing their potential to alleviate society’s biggest challenges. Business as a force for the positive changeUnrealized potential of multinationals Business/government collaboration: Mixed results. Making an impact through their employersMillennials feel accountable for many issues in both the workplace and the wider world. However, it is primarily in and via the workplace that they feel most able to make an impact. Opportunities to be involved with “good causes” at the local level, many of which are enabled by employers, provide millennials with a greater feeling of influence.

A sense of empowerment, millennials, and the “ripple effect” a preference for plain talk and inclusivenessSurveyed millennials, in general, do not support leaders who take divisive positions or aim for radical transformation rather than gradual change. They are more comfortable with plain, straight-talking language from both business and political leaders; respond to passionate opinions; and identify with leaders who appeal to anyone who might feel “left out” or isolated.

Millennials looking for directness and passion, not radicalism Freelance flexibility with full-time stability in spite of perceived across-the-board advantages of working as freelancers or consultants, nearly two-thirds of millennials said they prefer full-time employment. Millennials’ anxiety about world events and increasing automation may be partially responsible for them wanting to remain in their jobs, but the allure of flexible working options might be just as influential.

Increasing loyalty and a desire for certain flexible working practices, loyalty, and the foundation of trust. Automation: Threats and opportunities Generation Z will be welcomed Millennials tend to have a broadly positive opinion of GenZ (those currently aged 18 or younger), believing the group to have strong information technology skills and the ability to think creatively. Six in 10 millennials believe GenZ will have a positive impact as their presence in the workplace expands; this belief is higher in emerging markets than in mature markets.

Looking to the future, Generation ZA new Forbes survey of some of the most influential Millennials in America finds that 80 percent of U.S. entrepreneurs under the age of 30 still believe in the American dream. Not only is this generation optimistic, they are also altruistic, with 80 percent of them active in their community outside of work. Forbes millennials from the inaugural Forbes 30 Under 30 Europe list published in January 2016. The list featured 300 of the most influential entrepreneurs Under 30 across the continent.

With a detailed questionnaire, Forbes found that younger people welcome change and 86 percent were “very confident” about their future earning potential and certain that the companies that employ them will grow and thrive. They are also idealistic with nearly 50 percent citing changing the world for the better as a goal. It is no surprise that these Forbes Millennials support Senator Bernie Sanders, whose campaign mirrors their desire to level the playing field so that anyone in America willing to work hard will succeed. It is revealing that 44 percent said that the opportunity to change the world motivates them to be successful. These Millennials, however, communicate much differently than previous generations.

The best way to reach out to them is through the Internet and social media. Sixtyseven percent get their news from trusted websites such as The New York Times or CNN and 61 percent to rely on links friends share with them. Only 38 percent read print newspapers and magazines. Avid users of social media, Facebook, by far, is their No. 1 choice for posting content (43 percent), followed by Instagram, Twitter, LinkedIn, and SnapChat. They avoid brick-and-mortar stores with 65 percent preferring to shop online. Being an entrepreneur is important to this Millennial generation. Forty- four percent said that their No. 1 financial priority is funding an entrepreneurial endeavor. More than half report that their biggest financial regret is not saving enough money. Where do they get their financial advice? Parents and friends are the sources of this information for 66 percent.

Contrary to popular belief, only a tiny fraction live with their parents, and more than 53 percent do not have student loans. Reflecting the new trend toward urbanization, 79 percent live or plan to live in cities. This gravitation to urban life means that 30 percent see no need to own a car. What challenges do they deem most important to them? Twenty-seven percent replied global warming, 24 percent said terrorism and 22 percent said the economy and future recession.

They are loyal to brands, particularly Apple, with 80 percent buying the iPhone over other providers citing superior design as their motivation. Though they seek to change, these Forbes Millennials are not revolutionaries. The survey demonstrates that these young people want to work within the system. They look for meaning in their work and are attracted to entrepreneurial endeavors.

Nonprofit organizations should reach out to them as they are receptive to any efforts that will make the world a better place. And again, the best way to reach them is through social media. Perhaps most important, 97 percent of these millennials are extremely optimistic about what lies ahead for them. Harnessing and nurturing this optimism should be a goal of all American companies hoping to show Millennials that their firms’ contribution will make the world a better place.

1. Analyzing the business decision or problem.

Generation Y or the Millennial Generation exerts a peculiar fascination on both managers and academics. In what has become common parlance, members of Generation Y are called Digital Natives, rather than Digital Immigrants. They are the first generation to have spent their entire lives in the digital environment; information technology profoundly affects how they live and work. Generation Y actively contributes, shares, searches for, and consumes content – plus works and plays – on social media platforms. Service managers and researchers are interested in Generation Y’s social media usage because it may be a harbinger of how people will behave in the future. In the popular press, articles about Generation Y have typically focused on the social media usage patterns of young people of relatively high socio-economic status who live in developed countries where there is relatively unfettered access to information technology and social media platforms. Yet, it is self-evident that (for example) Generation Y’s social media usage in the USA is very different from South Korea due to differences in culture and technological infrastructure – and that rich people use social media in different ways than poor people. This definition allows us to examine differences in social media usage across diverse members of Generation Y living in different contexts. The research provides a conceptual framework for considering the antecedents and consequences of Generation Y’s social media usage. The research discusses how Generation Y’s use of social media influences individuals, firms, and society. It develops managerial implications and a research agenda. There is some evidence of negative long-term consequences for society arising from Gen Y’s social media use, such as a deterioration of civic engagement, a loss of privacy and public safety, and an increase in cybercrime

1. The overall research design – Evaluating options.

In this section, it will be added because it is important information regarding the research question that has been mentioned before. A structured self-administered questionnaire was utilized to acquire the considerable amount of data that was required for the study in an efficient way. Respondents for this research study were first required to answer two screening questions before they were permitted to participate in the survey

Questionnaire items were developed based on existing theoretical constructs and literature in the areas of social media use. The population born between 1980-2000 is defined as Gen Y employees. The five-point Likert scale (1 = strongly disagree; 5 = strongly agree) was used as the measurement method. The questionnaire consists of five sections namely; the first section is the brief introduction and instructions along with the purpose of research and assurance of establishing the anonymity of responses. The second includes the statements dealing with basic information of the respondents namely gender, years of experience, and age group, the third section includes the statements on social media use. The fourth section includes the statements on HR practices, the last section includes the statements on engagement, and the last one is Social media- Based on the extant social media literature a questionnaire is developed, as no suitable measure for social media existed. Based on this study, a questionnaire consisting of 5 items was developed. Each item is a 5-point Likert type statement anchored at extreme poles ranging from ‘strongly disagree’ to ‘strongly agree’.

The research design is descriptive in nature and utilizes the survey method for this study. Descriptive research is used to describe the problem that is researched, as well as variables such as the attitudes of individuals towards an object (that is, Generation Y’s cognitive attitudes towards social media influences individuals, firms, and society) and their demographics by taking a cross-sectional segment of the target population to determine the frequency with which something occurs and/or the relationship between two variables. This type of research is typically conducted when knowledge of the study object is vague or unclear—little is known about cognitive attitudes toward social media influences individuals, firms, and society. The survey method would be preferable for this investigation owing to the nature of the research problem and the viability of market information. Therefore, self-administered questionnaires were disseminated on a face-to-face basis to gather data for this research study. Regarding the interview questions, for each stage of the decision-making process, various key questions were asked. In the pre-trip stage, three main questions were designed. The first one is “Imagine that you decide to go on a leisure trip somewhere. What are the very first steps you undertake in planning your vacation?” Hereby the interviewer intended to give the respondents the freedom to think about how they prepared their last trip or what options of information search they usually would use for planning their journey (e.g., ask family and friends for advice, visit travel agencies or online platforms). The second question is “What criteria do you use to decide on which hotel suits best for you?”. The aim is not only to find out about the principles an accommodation needs to achieve in the respondents’ opinion but also to examine how they differentiate between the massive offer of hotels and where they extract the information from. Another essential question in the pre-trip stage is “Do you read online reviews? If yes, how do they influence your final booking decision?” As already indicated in section 2, review sites tend to become increasingly popular and used. Thus, the interest lies in finding out whether this is also the case specifically for Generation Y-ers or whether they only use it as a further information tool with limited influence.

As already notified, a qualitative research approach has been adopted since it is intended to being able to “understand the contexts or settings in which participants in a study address a problem or issue”. Hereby, it is aimed to make use of a theory in order to explain the existing problem. For this study, the grounded theory method (GTM) was utilized. Corbin and Strauss (2014) state, that this approach gives researchers the opportunity “to examine topics and related behaviors from many different angles- thus developing comprehensive explanations.” Furthermore Corbin & Strauss acknowledge that hidden meanings can be identified, through the application of the grounded theory. By analyzing the respective interviews, it was furthermore intended to identify the sequence and information sources used before, during, and after the trips undertaken by the Millennials.

2. What are the key variables and how will you measure them?

Applying the information that has been discussed in the previous segment it is clear of conclusion that will be built up to analyze and organize the variables which have been classified. The Research distinguishes Generation Y from other cohorts in terms of systematic differences in values, preferences, and behavior that are stable over time (as opposed to maturational or other differences). It describes their social media use and highlights evidence of intra-generational variance arising from environmental factors (including economic, cultural, technological, and political/legal factors) and individual factors. Individual factors include stable factors (including socio-economic status, age, and lifecycle stage) and dynamic, endogenous factors (including goals, emotions, and social norms).

Prior research on the social media use of Generation Y raises more questions than it answers. It (a) focuses primarily on the United States and/or (at most) one other country, ignoring other regions with large and fast-growing Gen Y populations where social-media use and its determinants may differ significantly; (b) tends to study students whose behaviors may change over their life cycle stages; (c) relies on self-reports by different age groups to infer GenY’s social media use; and (d) does not examine the drivers and outcomes of social-media use. Our conceptual framework yields a detailed set of research questions. In social media, Social Media Exposure measurement is about as reliable as a print magazine’s circulation, but knowing your potential audience does have value because it represents your potential sales lead pool. Measuring Engagement in Social Media is one of the most important measurements because it shows how many people actually cared enough about what you had to say to result in some kind of action. The measuring influence category gets into a bit of soft space for measurement. Influence is a subjective metric that relies on your company’s perspective for definition. Basically, you want to look at whether the engagement metrics listed above are positive, neutral, or negative in sentiment.

Furthermore, the variables that have been analyzed through the research procedure can be measured by interviews, online surveys, and phone surveys. As we provide the interviews, the key point that has been mentioned regarding the relationship between each variable will be have further research in the interview and groups section rather than creating new variables.

3. Sample requirements and sampling options.

In the previous section, it has been mentioned that it will apply the mixed method such as primary data, interviews will also be used in the research. By having interviews as part of the method, the data collected will be more accurate and specific because it is mostly from the people’s experiences from a different view. In addition, there are two types of survey data which are open-ended and closed-ended. In this case, one of the research appliances that will be used in the interview is one to one interview and group interview towards the employees in order to create a more accurate answer for the research question. A number of studies have identified Generation Y as the main users of online digital and online technological gadgets and innovations such as SNS and mobile applications and, consequently, a target market for online marketers. Furthermore, several studies have revealed that students are the primary users of SNS, and are hence exposed to advertising on SNS such as Facebook. However, Jordaan et al. believed that it was important to draw a more representative sample of Generation Y, other than solely selecting students to participate in the study. Therefore, the research population comprised of young working adults, young adults who had completed school, but were still seeking employment (nearly one in three people in the country are unemployed, with up to half of Generation Y for certain age categories within this cohort) , as well as students, to ensure adequate representation of Generation Y that had used Facebook and had perceived advertising on this SNS. The sample frame included Generation Y members who reside in the Western Cape and account for 11.25 % of the country’s population. The research utilized a multi-phase sampling technique, which also is referred to as double sampling or sequential sampling. Firstly, the Cape Peninsula was divided into different geographic locations (clusters), which included both rural and urban, as well as suburban (typically more affluent areas) and townships (including informal settlements) areas, by using a regional map. Secondly, businesses, tertiary education institutions, and community organizations (churches, sports clubs, and youth groups) were identified by means of a telephone directory and were randomly selected. Thereafter, these organizations were contacted telephonically to obtain approval to conduct the survey on their premises and to establish that there was a sufficient number of the Generation Y cohort to interview (mainly in terms of businesses, since the other aforementioned organizations were well represented by the Generation Y owing to their inherent nature). Thirdly, systematic sampling was utilized to survey respondents in the abovementioned organizations, and every third respondent was invited to voluntarily participate in the study.

4. Ethical issues

In this section, collecting data from the interview will affect the researchers to ask questions that may be personal, and it is important for the researcher to have a conclusion that supports the difficulty of selecting samples for the participants. The first ethical issue is its relatively small sample size and cross-sectional nature. Hence, further research is needed to confirm our suggested relationships, as self-reported surveys are poor to establish cause-effect relationships. The research however confirmed the significance of social media in the context of employee engagement in the Gen Y cohort. Importantly, even with a modest small size, the study is pertinent enough to serve as a stepping stone for future work. It is better to replicate this study in public sector organizations or in other industries such as retail, pharmaceutical, or in the manufacturing sector, maybe in a different country. Also, a comparative analysis could be undertaken involving Gen X and Gen Y employees to further confirm the research model. As quantitative research design has its obvious limitations so future studies should employ qualitative methods like focus interviews to further examine the results of this study. Further, it may not be a complete investigation of the impact of social media on engagement as the management perspective is not examined. Therefore, future research should interview both HR managers and Gen Y employees on their perception of the impact of social media on employee engagement. Further, this study will pave the way for future research work in this domain and will utilize longitudinal data. An important issue arises because employees and customers will originate from multiple generations and (hence) be heterogeneous in terms of social media use and related preferences and values. In addition, it is also to maintain the ethical frame for how Gen Y’s use of social media influences individuals, firms, and society. The sampling method is used to collect information and data about the performance in the firm is the survey. Besides, there are some ethical issues regarding with different research methods and style; it can be also some problems with informed approval. The risk in the data sampling can be not enough information to the survey respondents. Therefore, the data that have been gathered might be being used and distributed to a third party can become an unethical gathering of information. Furthermore, the research that being collected must be valid, reliable, and useful, however, this research might become a burden since the respondents know that it is being recorded so that they might change the way they answer and their behavior. In order to avoid this case, the make an option that the respondents can fill up the survey or we can also explain to them what this data collection is about, what for it is and how it is going to be used in the future. Moreover, we can also ask them to tick the survey whether they understand about it or not. Since the data needs to be valid, the aim of the question also needs to be clear. Furthermore, if asking unethical questions to the respondents, it can affect their impression and they might not want to do the survey.

Reference

1. Butler, P. (2016, January 12). Generation Y Influence Peaking According to Edelman Study. Retrieved from https://www.searchenginejournal.com/generation-y-influence/53745/#close
2. Charrier, R. (2016, May 04). Millennials And Social Media: It’s More Complicated Than You Think. Retrieved from https://www.socialmediatoday.com/social-networks/millennials-and-social-media-its-more-complicated-you-think
3. Dondé, G. (1970, July 20). Ethics across the generations. Retrieved from https://www.management-issues.com/news/7081/ethics-across-the-generations/
4. Find Market Research Companies, Facilities, Jobs, Articles, More. (n.d.). Retrieved from https://www.quirks.com/articles/exploring-millennials-social-media-use
5. Gen Y Speaks: Let’s put a stop to trial by social media. (2019, February 17). Retrieved from https://www.todayonline.com/commentary/gen-y-speaks-lets-put-stop-trial-social-media
6. Hou, Y., Xiong, D., Jiang, T., Song, L., & Wang, Q. (2019, February 21). Social media addiction: Its impact, mediation, and intervention. Retrieved from https://cyberpsychology.eu/article/view/11562/10373
7. How Millennials use and control social media. (2015, October 01). Retrieved from https://www.americanpressinstitute.org/publications/reports/survey-research/millennials-social-media/
8. Kelly, N. (2019, May 20). 4 Ways to Measure Social Media and Its Impact on Your Brand. Retrieved from https://www.socialmediaexaminer.com/4-ways-measure-social-media-and-its-impact-on-your-brand/
9. Newport, C. (2014, August 07). Solving Gen Y’s Passion Problem. Retrieved from https://hbr.org/2012/09/solving-gen-ys-passion-problem
10. Social Media’s Effects on the Next Generation. (n.d.). Retrieved from https://www.workplaceethicsadvice.com/2013/05/social-medias-effects-on-the-next-generation-.html

Nowadays, most of the workforce in Malaysia is dominated by Generation Y. Generation Y is those born between the early 1980s and the late 1990s (Sharkawi, Syed Mohd, & Roslin, 2016). They are also known as Millennial and have unique characteristics that make them different from the generation before. This generation is raised up in surroundings which technology is widely used in daily life. More precisely, it is because of the development in the current stream of modernization is taking place.

Characteristics of Generation Y

A study conducted by Jalil, Achan, Mojolou, and Rozaime (2015) mentioned that this generation is labelled as ‘Digital Natives’ because of they are the generation that is really exposed to the wired world, such as the world of social networking. In addition, most of them is well-educated at least have a diploma or degree in a college or university (Moorthy, 2014).

The entry of generation Y into the workforce in Malaysia has given a great impact toward the rules of play of an organization. Across history, the entrance of the new generations has caused conflict in between the new and also the old value in the workplace. This occurrence is due to the work’s value posed by generation Y is different from the generation before. Besides, they also have differences in term of work attitudes and also work expectations if compare to the generation before.

Due to their preference that differs from the older generation, there are a lot of negative perceptions about this generation. Reported from Mansor, Mun, Farhana, Nasuha and Tarmizi (2017) mentioned that the generation Y are always seeking for opportunities to learn, willing to collaborate with others, able to socialize with a workmate and also strongly relationship-focused. At the workplace, they are appreciating clear instructions, request immediate feedback on performance, and expect referral which includes management decisions, and ongoing intellectual challenges (Jalil, Achan, Mojolou, & Rozaime, 2015).

Besides, they insist to work under flexible conditions, where and when to work. The different characteristics of the generation Y from the older generation lead to dilemmas in terms of leadership style that is suitable to their preference. A study conducted by Alqatawenh (2018) mentioned that this generation plays a vital role in determining the future of an organization. So it is important to attract this generation to join the workforce because at this stage they are eager to learn. Leadership style in an organization also becomes a crucial factor in order to attract them.

Transformational Leadership

The amount of the generation Y continues to grow in the workplace makes it is important to understand which leadership style that suitable with generation Y preference. One of the leadership styles that is suitable with the preference of the generation Y is transformational leadership. Transformational leadership is about a person that stimulates and transforms followers to achieve a great outcome (Alqatawenh,2018). Warillow (2012) identify four components of transformational leadership style which is idealized influence, inspirational motivation, intellectual stimulation and also individual consideration (as cited from Odumeru & Ogbonna, 2013).

In this 21st century, the characteristics that the transformational leadership style have make it is suitable for generation Y. Idealized influence or charisma is one of the components of transformational leadership. It is referring to the behaviour of the leader becoming a role model to the employee and creates a wonderful image with self-confidence that is able to make the employee engage more in the organization (Mansor, Mun, Farhana, Nasuha and Tarmizi (2017). This means that a leader will go beyond their own interests for the good of the group and make personal sacrifices for the benefit of others. So that, the employee will expect that leaders must be able to help them achieve any goals that have been planned by the organization. For Gen Y, they believe that they will follow wherever the good leader go like become a successor.

A transformational leader will show a sense of power and confidence that can motivate others that they can overcome obstacles (Sharkawi, Syed Mohd, & Roslin, 2016). A study conducted by Jauhar, Ting, Rahim and Fareen (2017) shows that generation Y prefer a leader that always shows a degree of accountability and incorporates moral aspects in their leadership style. The wonderful image shown by the leader will produce a positive influence and can enhance the engagement of the generation Y in the organization. Besides that, leaders that display a friendly and caring attitude is the best and chosen employer among Gen Y. The leaders as well as must be approachable and easy to talk to. It is critical to Gen Y to have a conducive working environment when learning takes place without feeling stress.

The second component that transformational leadership have is about the inspirational motivation dimension which is related to the leaders that give motivation to the employee within the entire organization. According to Grubbstrom and Lopez (2018), motivations are the causes or the reason that can drive and direct individual behaviour to achieve a specific goal. So in order to ensure this generation performs in the organization, the leader should provide them with something that can ensure that they feel satisfied with what they are doing in the company. Employees will feel satisfied with their job if the leader is able to recognize their contribution to the organization. Not only that, when their supervisor makes feedback it shows appreciation of their commendable hard work in order to accomplish their job. Balouch and Hassan (2014) mentioned that job satisfaction is a subjective variable which not only on the nature of the job but also on the individual’s expectation of what his or her job should provide. Rewarding or compensating the Millennials can make them to feel motivated in doing their job thus retain in the company for a longer period.

The third components of the Transformational leadership style are intellectual dimension. This intellectual dimension is when a leader challenges employees’ ability to solve problems (Moorthy,2014). The leader provides a challenge that makes their subordinates more active in thinking and looking at problems from a different view. Generation Y are eager to learn about new thing (Mansor, Mun, Farhana, Nasuha and Tarmizi, 2017). By involving in discussions or any meetings the organization, the employee able to express their own idea and also gain new knowledge from others. When an employee shows that they give a contribution to a certain job they hope can receive fair feedback from their supervisor. It is because through that feedback it could help them to develop their own talent. Instead of contributed new ideas to the organization, the employee will also feel self-belonging to the organization and that will surely make they stay longer in the organization.

The fourth component of transformational leadership that suits with the characteristics of the generation Y is individualized consideration. According to Mansor, Mun, Farhana, Nasuha and Tarmizi (2017), individualized consideration is refer to a leader that always recognizes and reward their employee accordingly. Recognising an employee’s show that they are able to play their role in performing their task will send the message that their hard work is worth rewarding. This will make the employee feel satisfied in doing their job. Furthermore, according to a study conducted by Sharkawi, Syed Mohd and Roslin (2016) generation Y always expect for supervisor recognition after succeed perform their task. Thus, by giving a reward or recognising their job it will be able to meet the generation Y job expectation. This in turn will make them to retain in the company for a longer period.

Generation Y have a different preference if compare the older generation. This generation have a difference in term of work attitude, work value and also work expectation than other generations. Besides, Generation Y is also known as being very different from older generations in terms of values such as personal ambitions and goals, increased self-confidence, and also a need to express their opinions. They also always expect the effort in performing job is being recognized by their leader. In conclusion, leadership style in the organization is very important in attracting the generation Y to join and retain in the organization.

References

1. Alqatawenh, A. S. (2018). Transformational Leadership Style and Its Relationship with Change Management. Verslas: teorija ir praktika, 19(1), 17-24.
2. Balouch, R., & Hassan, F. (2014). Determinants of Job Satisfaction and Its Impact On Employee Performance and Turnover Intentions. International journal of learning and development, 4(2), 120-140.
3. Grubbstrom, E., & Lopez, C. I. (2018). Motivational Factors and Leadership Preferences of the Millennial Generation: Unlocking The Potential of Our Future Leaders.
4. Hossain, M. I., Limon, N., Amin, M. T., & Asheq, A. S. (2018). Work-Life Balance Trends: A study on Malaysian Generation Y Bankers. Journal of Business and Management, 20(9), 1-9.
5. Jalil, S. W., Achan, P., Mojolou, D. N., & Rozaime, A. (2015). Individual Characteristics and Job Performance: Generation Y at SMEs in Malaysia. Social and Behavioural Sciences, 170, 137-145.
6. Jauhar, J., Ting, C. S., Rahim, N. F. A., & Fareen, N. (2017). The Impact of Reward and Transformational Leadership On the Intention to Quit of Generation Y Employees in Oil and Gas Industry: Moderating Role of Job Satisfaction. Global Business and Management Research: An International Journal, 9(4), 426-442.
7. Kranenberg, E. (2014). Work-Values Differences within Generation Y: Recommendations for HR Management in the Hospitality Industry (Master’s thesis, University of Twente).
8. Mansor, Z. D., Mun, C. P., Farhana, B. N., Nasuha, W. A., & Tarmizi, W. M. (2017). Influence of Transformation Leadership Style on Employee Engagement Among Generation Y. Journal of Economics and Management Engineering, 11(1), 161-165.
9. Moorthy, R. (2014). An Empirical Study of Leadership Theory Preferences Among Gen Y in Malaysia. Review of Integrative Business and Economics Research, 3(2), 398-421.
10. Odumeru, J. A., & Ogbonna, I. G. (2013). Transformational Vs. Transactional Leadership Theories: Evidence in Literature. International Review of Management and Business Research, 2(2), 355-361.
11. Sharkawi, S., Syed Mohd, S. A., & Roslin, R. (2016). Exploring the Leadership Preference of Malaysian Generation Y Employee: A Conceptual Paper. International Journal of Business and Management, 11(8), 152-161.

1.0 Introduction

This research discusses about the behavioral factors that lead to spending and savings among generation Y. As we are moving forward to the millennium era, the cost of spending is getting higher with today’s Malaysia economic trend is just in a moderate par, but our young generation still have high buying power if compare to other generation. Additionally, the Malaysian Insolvency Department encompassed in an article published by Agensi Kaunseling dan Pengurusan Kredit (2014), with an 11% increase in the average number of monthly bankruptcies from the year 2012 to 2013, an average of 1812 Malaysians was declared bankrupt per month. Furthermore, the report highlighted among the ages of those declared bankrupt, over 47% are young adults aged between 18 to 35 years old specifically Gen Y. Hence, this research is to examine the behavioral factors that affect the spending and savings of Gen Y.

1.1 Problem Statement

Today’s Gen Y are becoming increasingly reckless with their spending habit. They tend to value money less compared to Gen X and baby boomers who are not so much into the materialistic world. As the standard of living in Malaysia has improved noticeably, the young generations are granted with greater liberty to shop and make their own consumption choice, as a result, Malaysia faced changes in lifestyle and spending trends. Most of today’s young generation have a short-term orientation and in a lot of ways are protected from the realities of the real challenges that are happening in the world. This condition is alarming because it will certainly result in the young generations’ inability to assess the real condition. This situation is true based on the increase in obtaining credit cards, which caused many issues of bankruptcy due to overspending in credit card usage among the young generation. (Idris et al., 2013). In addition, based on the research study by Visa (2011) by gathering the opinions of respondents aged between 18 to 28 across 11 Countries, the result reveals that most of Gen Y are ambitious and money oriented as more than 80% of them want to earn as much money as possible to allow them for enjoying a better life experience and can get wherever they want in life.

1.2 Research Objectives

The study that will be conducted will be focused on the areas, context, and content in terms of by setting the objectives of the research. The objectives that the research will be focusing more are stated as below.

1. To determine the consumption and spending patterns of Generation Y
2. To determine the level of saving and the forms of saving performed by Generation Y
3. To recommend the best way to encourage Generation Y in managing their savings.

2.0Literature Review

2.1 Generation Y

This generation of this group grew up in an environment of fast-paced change. There was full employment, dual-income households with increasing employment for women, and increasing awareness and respect for cultural diversity. They were also born into an era of electronic, technological, and wireless society where global boundaries have been blurred (Williams and Page, 2010). According to Martin (2005), the Generation Y cohort is technology savvy, independent, self-reliant, and entrepreneurial thinkers. Generation Y has also been described as well-educated, confident, passionate, upbeat, and socially conscious with high integrity (Geyzel, 2009). Halstead (2006) in her research has identified three characteristics unique to this and with these three characteristics may be the factor that influence of Generation Y’s saving consumption patterns. These characteristics are greater racial and ethnic diversity, more personal independence than prior generations due to the Internet and the rise in divorce, and greater optimism than Generation X about money and job security.

2.2 Parental Socialization

Center for Financial Security (2012) mentioned that parental teachings on money management, mainly focusing on the pocket allowance given, will help increase the financial awareness and the financial literacy of a child. Thus, Vincent-Wayne Mitchell et al (2015) highlighted that parenting encourages verbalization is positively related to Generation Y’s attitudes towards online unethical activities.

2.3 Peer Influence

Referring to Montandon (2014) stressed that Generation Y are frequently labeled to be easily influenced by peers inspiring that they can be easily pretentious by peer pressure when derives to decision-making. Vincent-Wayne Mitchell et al (2015) stressed that young people also learn from direct and indirect interaction with peers through discussions, rulemaking, reinforcement, and modeling but also integrated their social lives with electronic gadgets. Other findings from Montandon (2014) mentioned about social influence with closer peers have a significant influence in the risk attitude of Gen Y in terms of physical and social distance.

2.4 Self-Dominance

William Andrews Tipper (2014) in the article Future Savings Challenge specifies that Gen Y approaches financial decisions with a high degree of caution with the mindset of a strong association between finance and risk. In consequence, Gen Y has a high tendency to search for advice before making major financial decisions. Despite this, only a small proportion use financial advisers to guide their choices. Instead, they turn to those they trust for guidance such as their parents, friends, and partners.

2.5 Money Habits

Brian Honigman in his article How Millennials are Shopping (2013) reported that by 2017, Millennials are hyper-social, and continuously connected to social media and will have more spending power than any other generation. This article also mentioned that 84% of Millennials depend on user-generated content has some influence on what they buy and 51% from the survey showed that Millennials trust to make a purchasing decision based on consumer opinions on company’s websites rather than recommendations from family and friends.

2.6 Spending and Savings Behavior of Generation Y

In a study conducted by Visa USA Inc., (2007) it stated that by 2015 Gen Y will account for approximately USD2.45 trillion in annual spending. Moreover, Generation Y consumers are very likely to spend their cash as quickly as they acquire it, usually on consumer goods and personal services (Der Hovanesian, 1999). These consumers also have a wide-reaching social network that influences their buying decisions. Such vast networks are basically changing the way in which Generation Y shops. Water’s study stated that word-of-mouth influence no longer comes at a party or family gathering but from an extensive band of members of their online network. According to social learning theory, spending behavior can be seen as learned behavior often transmitted by parents and other influential individuals. Therefore, mainly passed from generation to generation Carrier and Maurice, (1998). Lunt and Livingstone, (2000) indicated that saving has important cultural meanings, so understanding socio-economic practices, moral judgments, and the everyday understandings and attributions of the people involved is essential in understanding how people calculate benefits from consumption or saving decisions.

3.0 Conclusion

In this section, the conclusion of the summary of the findings in the literature review will be discussed and all the possible recommendations and implications based on the study on the selected articles will be list out.

3.1 Summary of Findings

From the article’s findings, there are mainly 4 factors that lead to the spending and savings of Gen Y. First, parental socialization as mentioned by Vincent-Wayne Mitchell et al (2015) highlighted that parenting encourages verbalization is positively related to Generation Y’s attitudes towards online unethical activities. Not only that, it is also supported by the Center for Financial Security (2012) which mentioned that parental teachings on money management, mainly focusing on the pocket allowance given, will help increase the financial awareness and the financial literacy of a child. This can conclude that parents are the major factors in the family institution as they can encourage their children in terms of spending and savings. Good encouragement of money management will give a positive impact to their children’s spending and savings habits.

Secondly, the factor of peer influence as stressed by Montandon (2014) where Generation Y are frequently labeled to be easily influenced by peers inspiring that they can be easily pretentious by peer pressure when derives to decision-making. Moreover, this is also supported by Vincent-Wayne Mitchell et al (2015) that highlight young people also learn from direct and indirect interaction with peers through discussions, rulemaking, reinforcement, and modeling but also integrated their social lives with electronic gadgets. From these findings, social influence with closer peers have a significant influence in Gen Y spending and savings behaviors. If a teenager has a peer that has a high spending habit, then it also will affect them to spend more. If compared with parental socialization, a teenager will spend more time with their friends rather than their family in a day. Hence, it is possible that peer influences give a high impact on spending and savings.

Third, the self-dominance factor mentioned by William Andrews Tipper (2014) in the article Future Savings Challenge emphasizes that Gen Y approaches financial decisions with a high degree of caution with the mindset of a strong association between finance and risk. Gen Y has a high tendency to search for advice before making major financial decisions. From the finding, we can say that today young generation always plans for their spending when it comes to major financial decisions. They have a big purchasing power but on the same time, they also have a strong association between finance and risk in their mindset. Again, they will refer to their closest person like their family, friend, and partners.

Lastly, the money habits factor highlighted by Brian Honigman in his article How Millennials are Shopping (2013) reported that by 2017 emphasizes that Millennials are hyper-social, continuously connected to social media, and will have more spending power than any other generation. This article also mentioned that majority (84%) of Millennials depend on user-generated content has some influence on what they buy and 51% from the survey showed that Millennials trust to make a purchasing decision based on consumer opinions on company’s websites rather than recommendations from family and friends. Generation Y consumers are very likely to spend their cash as quickly as they acquire it, usually on consumer goods and personal services (Der Hovanesian, 1999).

In conclusion, the behavioral factors of spending and savings among Gen Y is affected from a family institution, social environments such as peer influence, and self-dominance. These three factors are the main key of young generation’s behavior toward savings. Everyone should take part in order to help the generation Y and Millennials nowadays to have good money management and to avoid a financial crisis in this challenging economic era.

3.2 Implication and Recommendation

Major findings indicate that parental socialization, peer influence, self-dominance, and money habits as the most influential factor in the financial planning and decision-making of Gen Y. Therefore, it is very crucial for family and education institutions to enforce financial literacy, particularly at home and school level. Although parents are the main sources of income, the majority of Gen Y are self-dominance in decision-making towards their financial planning, investment, and savings habits.

Generation Y is different from other generation groups therefore one of the recommendations is that banks and financial institutions must understand their needs if they want them as their customers. Banks will need to use an approach distinctly different from anything that they have been familiar. The rational imperative is that as the financial power of Generation Y expands its members will change how financial transactions are conducted together with patterns of spending and saving in Malaysia.

3.3 Suggestion for Future Research

Further studies can be done to correlate the level of financial literacy with self –the dominance factor towards spending and savings habits among Gen Y within the same background. Besides that, it is recommended that future research shall utilize a broader demographic profile of the generation Y respondents as this study was only studying generation Y in one country it is good to have an analysis of Gen Y spending and savings behaviors comparison from one country to another. Furthermore, a qualitative study needs to be conducted for future research to replicate the findings as the judgments about the levels of financial literacy of individuals conducted in this research and it is hoped that the study can enlarge the awareness in the related fields and can be a benchmark for financial literacy research in Malaysia

1. Abstract

For organizations to grow and flourish, managing the right talent for the right job is necessary. Talent management includes acquiring, maintaining, planning, and retaining employees. Among these dimensions, retaining of employees in generation Y is difficult. So, to overcome this issue, certain strategies should be made. These strategies will help organizations to retain talented employees which are important assets for the performance of the organization. This study aims to know the reasons of non-retention in generation Y employees as well. For this purpose, open-ended interviews will be conducted from 8 executives and manager level as well as a total of 6 employees falling under the category of Gen Y both from 3 public and 3 private organizations in Lahore by using the grounded theory concept. These instructions can be interpreted by the construction of themes. This will help the managers for the development of strategies to retain talent in the organization. A constructive worldview perspective will be followed and data can be analyzed by decoding of the information obtained from the interviews.

Key Words: Talent management, talent retention, talent retention strategies, generation Y, grounded theory.

2. Introduction

2.1 Statement of the problem

“At the end of the day, it’s the man that matters not the strategies” is the most focused notion these days. In this era of high competition, every executive body tries to be at the top and for this purpose, they extract the best person from the pool of candidates. This increasing trend of attracting the best talent and grabbing it has given great importance to the term “Talent Management” these days. There is little doubt seen on the important role of talent management these days as it is growing not only in academics but also in organizations including multinational enterprises and small-sized organizations. (Lewis & Heckman, 2006). As talent management is the term frequently used these days, I want to make my study based not on the whole talent management but only on one dimension of it.

Now I will define my terms, starting from talent management. Talent management is maintaining, acquiring, retaining, and planning the employees with the required skills and knowledge. (Phillips & Edwards, 2008). Talent management has become a challenging factor for HR due to its growing adaptability and emphasis in organizations. (Farndale, Scullion, & Sparrow, 2010). Many researches on talent management is conducted in America and Anglo-sexton countries. While no research in the Pakistani context.

Talent management not only deals with succession plans, turnover rate or developing of employees rather it also relates with the overall strategies and objectives of the organization. (Cappelli, 2008). Vieman and Collings (2014) suggested that although talent management has played a vital role in the performance of the organization, less research and emphasis has been done on talent management and talent retention.

As it is easier for a talented person to shift his job, it becomes important to retain the talent as their absence can have a negative impact on the performance of the organization. (Kontoghiorghes & Frangou, 2009). Talent retention and turnover are sometimes used side by side but they both are different terms. Talent retention is to retain talent in an organization while turnover is the number of employees leaving the organization.

Retention of the employees is the issue facing these days in generation Y in Pakistan. For this purpose, certain strategies should be made. Generation Y is the influential generation these days. Different scholars define generation Y differently. Some defined it the generation starting from 1980-2001. A generation is more comfortable with using microcomputers than using notebooks. (Black, 2010). While at some places it is defined as a generation between 1977 and 1994. (Morton, 2002). There are four generations named traditional born before 1945, Baby Boomer born between 1945-1964, Generation X from 1965-1980, and Generation Y born after 1980. (Eisner, 2005). Eisner (2005) also stated that these generations are given different names as well based on their timelines. Generation Y is also known as Millennials, the Internet generation, the Next generation (Durkin,2008), and the Net generation (Tyler,2008). Generation Y was first named in 1993 by Advertising Ages. (Reed,2007). The twenty-first century is the century of a shift from generation X to generation Y so it’s important to know the attributes and characteristics of this generation. (Reisenwitz & Iyer, 2009). As generation Y graduates enter the working place their potential for work is higher than their ancestor’s generations. (Lee Taylor & Cosenza, 2002).

A study on the priorities and expectations of generation Y reveals that with the advancement of technology, this generation enhanced their skills so their expectations regarding a job also increased vary from certain factors like gender, class, CGPA, etc. (Ng, Schweitzer, & Lyons, 2010). Moreover, generation Y is less loyal to brands and is the first generation to use emails. (Tyler,2008). A study reveals that generation Y employees have a unique working trend. They usually want change and for this, they change their jobs in every 2-4 years. (Reisenwitz & Iyer, 2009). Moreover, their purchasing power is entirely different and unique based on clothes, shoes, beauty products, food, and technology which are the main areas of their attention. (B. Valentine & L. Powers, 2013). According to the marketing point of view, generation Y isn’t a generation that is loyal to a single brand rather it’s a generation of taking shopping as a fun-loving activity for recreation purposes. (Wolfe, 2004). As far as professional life is concerned, generation Y usually wants a flexible working lifestyle with telecommunication options and socialization. (Armour, 2005)

From the above-mentioned attributes of generation Y, we can formulate retention strategies, but first, we need to analyze the factors behind their turnover in different organizations. Deer (2008) provided an article based on the effect of turnover on work-life balance. According to him job satisfaction, work commitment, and attributes are the factors of turnover. The socio-exchange theory suggests that generation Y has a great interest in training and development in the context of talent management and retention. (Al Ariss, Cascio, & Paauwe, 2014). Hence, this shows that one of the retention strategies can be the facility of training and development to the employees. Not only the retention but the recruitment of this generation is considered as the difficult task a manager is performing these days because it’s a generation with a different mindset than the previous one. (“Recruiting & the job Hunt”, 2008).

A number of studies are conducted whose focus is on the work-life balance of different generations but they are merely focusing on Western Culture so implemented to that particular area. For the retention of generation Y, the responsibility of managers is to formulate and notice the ethical code of conduct which will enhance the abilities and thus motivate the employee to work well. (Atab, Penbek, Zaptçioğlu, & Ucel, 2013). Generation Y is less cynical but more passionate and optimistic about their task. (Hymowitz, 2007), that makes them risk averse and they are more adaptive to change. (Yıldırım & Korkmaz, 2017) which is the reason that this generation is more comfortable with the invention of new technologies and can tackle with the problems faced in the usage of this technology. (Anantatmula & Shrivastav, 2012).

For the recruitment and retainment of an employee, it’s important to have an attractive culture with ethical norms and values. This culture should be according to the organizational goals to attract and retain talent. (Sabatelli, 2017). Now a day, organizations are facing a great challenge to retain this generation as it constitutes a complicated set of characters and high expectations from the company. To minimize this challenge and to retain this generation, organizations need to reform and redesign their work environment and their mentoring methods. (Aruna & Anitha, 2015). Not only the redesigning but the executives should also keep one thing in mind the strategies should not only focus the top or executive levels but also the middle and low-level employees. (Guthridge, Komm, & Lawson, 2008). A study conducted in India shows that for high retention, there should be a good engagement of employees with employers to have effective communication. (Bhatnagar, 2007)

The literature defines that talent retention is an ongoing term these days but its link and its strategies for generation Y is hardly seen. So, it’s a dire need for today to focus on these strategies not only for the performance of the organizations but also for the economy of the country. This study will directly affect both the private and public organizations working in Pakistan to formulate strategies in order to retain their Gen Y employees and to reduce the turnover ratio that negatively impacts the reputation of an organization.

2.2 Purpose Statement

The purpose of this study, which is based on grounded theory is to examine the reasons behind the non-retention of employees. This study will also help to develop the strategies for the retention of generation Y employees. Moreover, this will help to increase the performance of an organization by the development of retention strategies. The purpose of the study will be satisfied by the answers of managers, executives, and employees of the public and private organizations having an office in Lahore.

2.3 Research Questions

The following research questions will be proposed as central questions in my study:

• What are the main reasons behind the non-retention of talent in generation Y?
• What retention strategies should be developed?

Further sub-questions under these central questions will be put forward as this will be an open-ended interview.

3. Procedures

3.1 Philosophical Worldview

The intent of this study is basically to rely on the constructivist worldview i.e. understanding the meaning of the participants and relying on it rather than constructing our own. Being a researcher, open-ended questions that are mentioned above will be asked from the participants and answers will be interpreted following the inductive approach.

3.2 Qualitative Design

The focus on grounded theory is because the strategies have not been experienced by the participants themselves as it’s not prevailing in Pakistan until now and as a researcher, I don’t have any idea about the effect of these strategies, so a general, abstract theory of the participants will be explored.

3.3 Role of the Researcher

I as a researcher will use the qualitative research method to explore my study through a constructivist perspective using a grounded theory of qualitative design. Data will be collected through open-ended interviews and their answers will be interpreted in such a way to avoid any biases. Their answers will be recorded with their permission and then will be interpreted. I as a researcher will try to provide a comfortable environment to the interviewees so as to get optimum responses from them because the whole study revolves around these responses and their results. Moreover, personal information will be kept confidential.

3.4 Data Collection Procedures

The data collection to check the talent retention strategies for generation Y will take place by conducting open-ended interviews from executives, managers, and gen Y employees of public and private sector organizations. Interviews will be conducted from:

• 2 Managers and 1 executive level officer falling in generation Y of 3 well-known as well as medium-sized private organizations.
• 2 managers and 1 executive level officer from generation Y of 3 public sector organizations.
• A total of 6 employees that fall in the category of Generation Y.

Managers and executive level persons are chosen for the interview because they are involved in selecting as well as retaining of the employees and are more responsible for the better performance of the organization. Along with generation Y employees are selected so as to know the reasons behind their non-retention to a company.

3.5 Data Analysis Procedure

As this is a qualitative research study so data will be analyzed side by side with the data collection. During interviews, memos and the main points will be written on paper that will initially be in raw form, and later these memos will be included in the final report. After the data is collected, it will be organized and prepared for data analysis. Following this, the data will be read out and computerized coding of data will be done through QSR NVivo. From this, the description of the setting will be generated as well as the data will also be aggregated to a small number of themes like 5 to 7 themes. And then the meaning of these themes will be interpreted.

3.6 Anticipated Ethical Issues

• Before starting the research, the researcher needs to have their research plan reviewed by the institutional review board.
• Prior to the research, necessary permissions should be obtained.
• Necessary information will be shared with the participants.
• The participants will not be forced to sign the informed consent form.
• The privacy of the participants will be maintained.
• Harmful information will be avoided.
• Culture and norms will be respected.

4. Significance of the Study

This study is significant for the managers and executive officers of the organizations as it will help them to formulate strategies of retention in generation Y which is the most prevailing generation these days in Pakistan. As there is no as such previous research on this topic in Pakistan so it might help to enhance the productivity of the companies. It helps the executives to manage and tackle the non-retention situations in their organization.

5. Limitations

· The managers and executive level officers might not be available.

1. Data of the employee might be confidential to share.
2. Data will be confined to Lahore, as I am a resident of Lahore so the research will not be general but rather specific to Lahore.

To overcome these limitations, certain steps will be undertaken like to have the access to the data and availability of the managers and executives, I will likely use some references for authentic information. Moreover, to make this study a general one I will try to move out of Lahore to check my findings and results.

6. References

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In 1996 Ambler and Barrow were the first to discuss how organizations can apply marketing techniques to human resources management and they introduced Employer Branding by defining it as the set up of practical, economical, and psychological advantages that is established by the company and provided to the business (Ambler & Barrow, 1996). Later on, Barrow and Mosley (2005), redefined employer brand as the image of an organization that shows employees the employment place, In other words, employer brand is the entirety of an organization’s endeavors to impart to imminent staff that it is an attractive work environment (Lloyd, 2002). Another definition states that it is the use of marking standards to HR the executives and the representative business relationship that starts from indistinguishable standards from conventional marking (Verma & Ahmad, 2016). In addition, employer attractiveness idea is firmly related idea to employer branding, which can be characterized as the imagined advantages that a potential worker finds in working for a particular association (Berthon et al, 2005). Moreover, studies have demonstrated that there is a connection between an association’s notoriety and its accomplishment in pulling in quality occupation candidates (Fombrun, 1996; Cable & Turban, 2001). Resulting in significance for organizations to comprehend what pulls in employment searchers to win the competitive advantage.

Furthermore, after the expansion of the employer branding concept more researchers have been concentrating on employer branding and contemplating this subject from alternate points of view, for example, organizational behavior (Aiman-Smith et al., 2001; Cable & Turban, 2003; Cable & Yu, 2006), corporate communication (Aggerholm et al., 2011; Shah, 2011), branding (Elving et al., 2013; Moroko & Uncles, 2009), and human resources management (Bondarouk et al., 2013). In Aiman-Smith et al. (2001) study it is inferred that factors deciding the engaging quality of an association probably won’t be equivalent to the elements that sway the goal to seek explicit employment. For Cable and other scholars they studied organizational behavior and have concentrated on the impact that diverse elements had on organizational attractiveness and the goal to seek after explicit employment. Also, Bondarouk et al. (2013) examined the distinction between what scholastics and HR specialists saw as essential changes in the enrollment practice while considering the future improvement of employer branding through social media. Despite the fact that every one of these orders and sub-disciplines have diverse key standards and dreams about what an association is and about the connections among associations and their partners, they all consider manager marking as a competitive advantage, an ‘esteem making process’, (Aggerholm et al., 2011).

Additionally, employer branding incorporates correspondence exercises to both outsides (work searchers) and inner (momentum representatives) individuals in regards to the organization’s offer that would make it particular among its rivals. Therefore, the employer brand should present the useful and representative characteristics of the association which permit work searchers to separate the association from its rivals in the market, and in this project, we’ll be focusing on externals whom are job seekers.

However, while most investigations centers around how organizations should utilize social media platforms in their employer branding (Backhaus, 2004; Bondarouk et al., 2013; Girard et al., 2013; Laick & Dean, 2011; Love & Singh, 2011; Sivertzen et al., 2013) there’s a shortage of proof that centers around the job seekers and their attitudes and impressions towards employer branding correspondence via social media platforms, as a result, we decided to study the perception of employer branding by the new job seekers ‘Millennials generation.

Social Media Effects

Due to the continuous innovation and rapid expansion of technology, social media is a new phenomenon that empowers us to all-inclusive convey, offer and trade thoughts and it is defined differently by several authors, as Mersey states that social media is a brand-new media channel with new qualities, where messages should be custom fitted dependent on the intended interest group (Mersey, 2009). Kaplan and Haenlein (2010) define social media as a gathering of web-based applications that were set up dependent on the innovation of web 2.0, which enable clients to produce and trade substance. For Jue, Marr, and Kassotaki (2010) is characterized as a site that enables clients to trade the substance so as to give and get data from different clients or to shape a useful relationship. Social media is divided into several platforms which each one of them has a different function, for instance, Facebook and Twitter are utilized as interpersonal communication, and Instagram and Youtube are the most common channels regarding uploading photos and videos. Besides, Wikipedia is a viable device for sharing knowledge and the most popular platform in the work field is LinkedIn which focuses on employee acquisition, opens positions postings, provides the available information about organizational culture, and creates a positive image, especially toward Generation Y and it’s a contact tool for HR employees.

Moreover, has changed the manner in which individuals live as well as has given new techniques to working together and advancing their brands (Jue et al. 2010). Also, social media has altered the manner in which individuals find out about organizations and apply for occupations.

The old methods for selecting, gaining, and getting to ability are never again powerful in today’s new environment and companies that fail to adapt technology to their systems will probably be on the losing end with regards to drawing in the potential individuals they need. A solid employer brand can pull in qualified candidates and prevail in the war for talent (Wayne & Casper, 2012; Egerová et al, 2015). Likewise, Baum & Kabst, (2014) also states that web instruments, for example, social media and enrollment sites can construct a solid employer brand. Jue et al. mention that as far as upgrading representative commitment at work, social media gives different platforms to help ‘quicken and improve our capacity to associate, impart and team up’ (Jue et al. 2010).

Thus, Strauss & Frost, (2012) and Janouch, (2011) state that the exponential development of social media sites gives access to tremendous quantities of individuals who are searching for another opportunity and another vocation, which offer their capacities and experience, and who need to grow by and by and develop expertly. Additionally, social media have picked up significance and fame because of their intuitiveness and capacity to encourage two-path correspondence with organizations (Kietzmann et al, 2011). Therefore, in this project, we’ll study how social media affects the perception of Generation Y on employer branding, and if social media gives them the needed information about an organization.

Generation Y

In view of the exceptional use of social media in recruitment, procedure organizations modify their enrollment and employer brand correspondence on the targeted group (K. Backhaus & Tikoo, 2004). Therefore, in our project, we aim to distinguish the role and significance of focused employer brand communication expressly for Generation Y, and the choice to focus on Generation Y depends on the way that organizations are at present confronting the test of supplanting an extensive pool of workers, the ‘Gen X-ers’ who are resigning, with a youthful pool of candidates that as of late entered the activity showcase and are a part of the Net generation (Napoli & Ewing, 2000). Besides, the term Generation Y has been ascribed to the populace conceived somewhere in the range of 1979 and 1998 and that most as of late entered the job market. Napoli & Ewing (2000) states that the recorded occasion Generation Y rotates around is the advanced revolution, which made them quickly and effectively versatile to development and change.

As a result, the innovative advancements have prompted critical media utilization changes, particularly among Generation Y, for whom social media has turned into the fundamental source of data, ‘giving access to data that was recently retained or inaccessible’ (Lichy, 2012). Since Generation Y is an association that has grown up with the Internet, firms are likewise building up their interchanges on the web. According to MediaGuru (2017), individuals from Generation Y have experienced childhood in a world overwhelmed by the media and they spend approx. 25 % of their tedious online substance (MediaGuru, 2017). And keeping in mind that concerning recruitment, it gives the idea that the Internet has turned out to be a standout amongst the most prominent wellsprings of data for job searchers (Backhaus, 2004; Soulez & Soulez, 2011; Eger et al, 2015). Additionally, beginning from 2011, social media has been the essential wellspring of empty positions and data about the forthcoming organizations’ culture and work practices (Laick & Dean, 2011). And according to Herbold & Douma (2013), Facebook and LinkedIn were the most visited locales by understudies hunting down occupations in the year 2013. Also, it is all around acknowledged crosswise over both professional and scholastic literature writing that social media use is a standout among the significant traits of Generation Y (Bissola & Imperatori, 2013; De La Llama et al., 2012; Lichy, 2012; Ryberg & Larsen, 2012; Shaw & Fairhurst, 2008).

Moreover, in the previous couple of years, the theme of Generation Y’s particular conduct has been generally examined, including yet not restricted to conduct in the work environment and quest for a new employment process. Additionally, there’s an ongoing discussion in the specialist writing (Armour, 2005; McCrindle, 2010a, 2010b) just as in academic journals (Choi et al., 2013; Josiam et al., 2009; Harvey J. Krahn & Galambos, 2014; Lichy, 2012; Smith, 2010; Treuren & Anderson, 2010). The ‘Net Generation’ (Napoli and Ewing, 2000; Tapscott, 1997), as Generation Y is additionally called, is depicted as being not the same as different ages in conduct, mentalities, media use, etc (Krahn and Galambos, 2014; Napoli and Ewing, 2000).

Accordingly, Meier& Crocker (2010) affirm that individuals from Generation Y expect of their bosses a more grounded spotlight on their singularity, singular inspiration, and difficulties as fast-changing work undertakings. In other words, what makes employees from Generation Y bored and decrease their motivation is repetitive work. Baruch (2004) claims that they appear to be less inspired by a long-lasting job, yet progressively keen on testing and significant undertakings that assist to accomplish high vocation objectives. Gravett and Throckmorton, (2007) notice three key approaches to urging Generation Y to work in associations, which are high pay, a benevolent and easygoing workplace, and development and improvement openings.

Therefore, contrasts in work frames of mind and conduct between Generation Y and different ages are critical for associations with the end goal for them to comprehend whether and how they should design their techniques to pull in and hold this new generation.

Furthermore, In the next years, the labor force will be combined by the Millennials, and this population can be considered as the people who were born at the end of the Y generation and who are currently studying. As indicated by Manpower’s Millennial Careers: 2020 vision, continuously 2020 Millennials will make up 35% of the worldwide workforce. Also, for Millennials, the object is a need. A high percentage of Millennials state working for bosses who are socially mindful and adjusted to their qualities is critical (Manpower, 2016). It is additionally apparent that particularly Millennials regularly assess organizations through the Internet before they apply for an occupation; they need to make certain before they connect their professional lives with them (Jobvite, 2016; Deloitte, 2016). Consequently, in our project, we choose the Millennials and Generation Y to be our tested population and we’ll be able to see their perception on the employer branding concept.