COMING OF THE MILLENNIALS - REWRITING WORKPLACE STRATEGIES

Progressive corporates all over the world have initiated strategies to tackle the challenge of catering to their millennial workforce in their combat to stay ahead and make profits. In their quest to find the right talent coupled with a deficit of skilled employees, Indian firms need to acknowledge that with every coming year, there would be more of millennial talent in their workforce composition and it would be imperative to meet their desires and expectations. Rigid adherence to outdated policies would no longer serve and organisations have to encourage their human resource personnel to be more bold, open, flexible, and innovative in revising and rewriting their human resource strategies. This study examines some of the characteristics by which millennials differ from the earlier workforce, and highlights key employee benefits areas that employers need to address which would help enhance their brand value and contribute immensely to their talent attraction, management and retention.