The paper "How Gen Y Employees Can Grow Your Business" is a perfect example of a Management Case Study. Generally, generation Y is a word that is used to refer to people who were born between the years 1980 and 1994 (Meares, 2010) although the year varies from one country to another. They are also known as the millennium generation and dot. com by other quarters (Amar, 2002, p. 66). This generation of individuals is viewed as the managers and also holders of senior positions of companies in the near future.
This is a generation of individuals that is viewed to be so dynamic in their requirements. It has been increasingly difficult to understand their mindsets and what they hold as priorities. They are seen as a generation that does not care much about such things as historical foundations of such things as computers or the internet. They would rather spend most of their time doing such things as entertainment, communication or looking for potential employers. This paper explores how to attract and keep employees aged between 25 and 35 years.
The firm nominated is Ampcontrol. Generation Y. For Ampcontrol, there are several ways that can be put in place to attract and keep the generation Y employees that the CEO desires to employ. The first means would be through the reinvention of the system of rewarding their employees. This would mean moving away from the traditional and conventional means of rewarding employees after they have accomplished a task in terms of end month salaries and wages. The reinvention would be by offering the new incoming employees with rewards such as sign up bonuses, nonrepayable bonuses among other incentives.
This would make people belonging to generation Y attracted to the firm. At the same time, it would make employees feel important. This would even motivate them to exhibit behaviors favorable to the firm even before such roles that would enhance the exhibition of such behaviors are implemented. This would also be exciting to the generation Y individuals and encourage them to work for the firm for even longer periods (Amar, 2002, p. 168). For most people who fall in the generation Y category, money is the main motivation that keeps them attracted to a particular job and in the same instance keeps them at it for longer durations.
In order to attract and keep the best of people belonging to Generation Y, Ampcontrol would offer them the compensation that are slightly more than what other companies in the market offers. It is true that competition in the market is tight and that such engineers are scarce. It would, therefore, make much sense for the firm to offer competitive remuneration to the young engineers it intends to attract and keep.
This is also coupled with the fact that the people belonging to this generation are accustomed to results that are instant. They are not willing to get an offering with a low salary with the possibility of having a raise on their perks with time. It would, therefore, be in the best interest of the firm to give them an offer that they would find difficult to resist (Sheahan, 2005, p. 111).