The art of Retention, Leveraging Social Media for Generation Y retention

Abstract Millennials, Generation Y workforce as they are commonly referred are some of the most nimble workers in organisations. They are not only passionate about their work but are also not afraid of adopting change. They will be a key factor in “Make in India” initiative as more and more workforce will be needed for expansion and growth of various sectors in different types of industry in India. The main Objectives of Make in India movement is to give the Indian economy global recognition and to create competitive industrial environment and generate employment This young workforce who will be involved in this revolutionary initiative believe in multi-tasking and are able to manage several new projects simultaneously and are able to easily switch from one given task to the other. They are immensely creative and highly innovative. They choose their personal passion over salary when making choices about their career. They are highly tech – savvy. Social media has been woven into the fabric of Generation Y (Gen Y), becoming an integral part of their daily routine. This is the fastest growing workforce population and its effective engagement has become a priority for most of the organizations. It is assumed that because this generation is so used to technology and instantaneous feedback, that they look for a experience which gives them instant gratification. The delay or sometimes absence of instant reward usually becomes a cause for frustration for them, and this frustration has a direct effect on both job performance and job satisfaction, leading, to poor retention in organisations. Social media has the capability of contributing user-generated content. This technology-enabled approach is much needed by organisations to retain this future workforce Organizations should become more receptive to generation Y characteristics and tailor strategies according to them. In light of this, organizations should improve their social media footprints to better manage young generation employees. The present research attempts to study the retention strategies used by organisations to retain Gen Y employees using social media platforms. The research presents a case for social media adoption by organisations to retain Generation Y employees. This will help the organizations; overcome the problem of retaining employees for long run and make Gen Y more comfortable, satisfied and Productive in the era of Make in India.