A STUDY OF NEW GEN WORKFORCE FOR EFFECTIVE LEARNING TRANSFER FOR BUSINESS IMPACT IN INDIAN SERVICE INDUSTRY, WITH SPECIFIC REFERENCE TO INFORMATION TECHNOLOGY SECTOR

Service Sectors in India are undergoing a major transformation phase in today's time. In order to achieve sustainable, profitable growth, this sector is facing key competitive challenges such as operational efficiency, delivery productivity, global customer satisfaction and talent development & retention across their delivery centers. Training, Learning & Development (L&D) plays a significant role in these organizations by providing cutting edge leadership in technology & business management. It's therefore very important to accomplish and measure the effectiveness and efficiency of L&D for real life business application and building learning assets for such organizations. Interestingly, India has one of the largest young workforces in the world, with over 65 % of its population under the age of 35. Today, the Indian service sector employs about 3-4 generations at a time with generation Y alias Millennials constituting about 70% of the total workforce. They have varied social, demographic, have changing interests in diverse fields, and are innovative, creative & restless in nature. There are, however, lots of myths about them and their behavioral styles and patterns which need proper elaboration and reconciliation. It's therefore necessary to examine the impact of this important variable in determining the learning maturity of the organization and corresponding impact on its business performance. This would help in better co-innovation and co-excellence and hence a better win-win for individuals and organizations. The purpose of this paper, therefore, is to study this significant variable of L&D ecosystem constituting to its effectiveness for business results and various ways of formal and informal learning strategies & business interfaces that resonate most with these new generation employees, being an emerging part of a multi-generational workforce of India Inc.