Current Issues in Modern Organisations - Term Paper Example

Current Issues in Modern Organisations Name: University: Date: References Table of Contents Current Issues in Modern Organisations 1 References 2 Table of Contents 2 Current Issues in Modern Organisations 3 Abstract 3 1.0 Introduction 4 2.0 Attracting and Retaining Gen Yers 5 2.1 Integrating Social Media in Recruitment Practices 5 2.2 Retaining Generation Y 6 3.0 Engaging Generation Y Employees 7 4.0 Motivation 8 5.0 Training and Development 9 6.0 Performance and Reward Management 10 6.1 Performance management 10 6.2 Reward Management 10 7.0 Career Development 11 8.0 Conclusion 12 9.0 References 13 Appendix 15 Current Issues in Modern Organisations Abstract Generation Y are wildly confident and the most connected generation because of technology. Still, there are numerous challenges that Generation Y face; for instance, they lack key skills like communication, listening, time management, independent thinking, job commitment, team work, as well as good work ethic. Most Gen Yers opt to multi-task and are always less attentive. In the last two decade, the numbers of organizations have increased tremendously because of globalisation. In consequence, this has led to labor movement across the globe resulting in issues related to the management of human resources across borders. In view of this, Generation Y are bringing new perspective and style to the workforce, but failure to adapt has made many organizations to lose lots of money because of lost productivity as well as unwanted turnover. Generation Y are skilled in technology, well educated, and very confident; therefore, their presence in workplace as observed at Officeworks can lead to higher expectations and high accomplishments. The report identifies key themes and issues associated with HRM practices with focus on Wesfarmers Limited. 1.0 Introduction Generation Y employees are very different from those of other generations because they more confident, optimistic, sociable, concentrate on success, and value diversity. According to Twenge and Campbell (2008), Gen Yers often search for something that can satisfy their needs such as supporting worthy causes or volunteering. Members of Generation Y are mindful of the company determinations to become environmentally friendly and being allowed to pursue social causes is key factor they consider while choosing their employers. As mentioned by Zemke et al. (2013), a number of companies have increased their charitable contributions in response to Generation Y employees’ social consciousness. Most Generation Y employees search for work-life balance; they do not want to work for long hours like their parents. Instead, they place more emphasis on enjoying life and personal time with some of them sacrificing remunerating jobs for an improved work-life balance. Besides that, Generation Y members search for flexibility in their workplace and their job schedules. In contrast to other generations, Generation Y members are ambitious and always have big expectation about their future. Officeworks understand the need to know what Gen Yers want; therefore, they have adapted their current recruiting approaches so as to realise measurable as well as immediate results. The study focuses on how Generation Y employees can be attracted, retained, engaged, motivated, and rewarded with view to Officeworks. 2.0 Attracting and Retaining Gen Yers The key to formulating effective policies at workplace according to Mann (2006) is by comprehending the attributes of every generation. And so, understating the generational diversity well can result in competitive advantage through attraction and retention of talent in the future. Appreciating as well as understanding the personality traits and work style of a multigenerational labour force may help an organisation capitalise on what every generation has to offer. 2.1 Integrating Social Media in Recruitment Practices Faour and Heinze (2013) assert that social media has positively impacted the process of recruitment in scores of organisations. Basically, social media is being used increasingly for creating a brand as well as hiring and selecting job applicants. Officeworks are using social media to develop and communicate its organisational culture so as to be seen as a desirable employer. Faour and Heinze (2013) posit that employer branding has recently gained attention amongst academics and practitioners holding the view that it is a crucial component of HR function that helps organisations to identify potential employees that could well fit in the organisation. For years, organisations have relied on traditional media like career brochures and corporate websites so as to promote themselves as the best employers. Still, social media has recently been used as a new medium used by organisations for promoting the employer brand. In the interviews, Officeworks young employees mentioned that social media is beneficial over traditional media because it allows for personalised communication, transparency in the information shared, makes it easy to engage with the target audiences and can reach a wider audience. Officeworks do not just using social media to establish an employer brand, but also to gather information about the job candidates that is hard to access through traditional sources. Using social media for recruitment practices leads to cost saving and reduced interference with applicant’s personality or character. Still, there are complexities involved in the hiring process; for instance it is hard to verify reliability and validity of data gathered through social networking sites. In order to attract talented employees from Gen Yers, Officeworks uses social media so as to communicate their organisational culture in a manner that supports what members of Generation Y are searching for in an employer. For instance, Officeworks use both Facebook (https://www.facebook.com/officeworks/) and Twitter (https://twitter.com/officeworks) to continuously update current and future staffs regarding their developmental opportunities, activities and policies, and how they have successfully maintained equality in the company. 2.2 Retaining Generation Y According to Gilbert (2011), Generation Y members are skilled in technology, well-educated and exceedingly confident. They come with higher expectations and high accomplishments, and this attitude irritates and frustrates the older employees. Huybers (2011) suggests that organizations cannot afford to waste money and time by failing to invest on the potential that is being offered by Gen Yers. Besides, retaining Gen Yers has become more important because the Baby Boomers are retiring in large numbers. Huybers (2011) asserts that the clash of culture in the place of work is generating confusion, trepidation, and mayhem at companies that are currently facing the need to adapt their cultures to Gen Yers’ working styles. In order to retain their young employees, Officeworks usually assign the new employees to experienced staffs from the first day so as to be mentored and learn new skills. After that, the company ensures that the employees are not dropped at stressful non-supportive working environment. Tulgan (2009) mentions that some employers break down the project into small tasks, whereby the new hires are trained one task at a time until a fairly enormous repertoire is built. Besides that, organizations that have work-life imbalance practices find it challenging to retain Gen Y employees. The Generation Y employees according to Sujansky and Ferri-Reed (2009) are more interested in companies that are accustomed to work-life balance, and mostly exit their jobs when they perceive an imbalance. For many Gen Yers work-life balance is more important than salary. Therefore, companies with creative work schedules for younger generation employees will certainly be able to retain talented Gen Yers. Officeworks do not offer scheduling options such as telecommuting and such inflexible work practice is considered to be somewhat challenging to the Generation Y employees. Myers and Sadaghiani (2010) argue that having a work schedule that is flexible enables Generation Y to meet their both their lifestyle priorities and workplace ambitions. Moreover, makes the m happy and their longevity at the organisation is secured. 3.0 Engaging Generation Y Employees As businesses evolve and expand, Dorsey (2009) posits that fresh graduates join so as to gain important experience in their preferred field of work. All cycles of new personnel may have diverse needs and wants as Generation Y continues to adapt to the ever changing working environment. Dicke, Holwerda, and Kontakos (2007) assert that individual needs and wants are directly tied into employee engagement, which is an effective tool for measuring job satisfaction. Basically, high levels of engagement at workplace are associated with improved financial performance and talent retention. Taking the mindset of Gen Yers into consideration and modifying HR ideas so as to address certain values and needs of this age group, is an important factor in raising levels of engagement. For Generation Y employees to enjoy a particular job, Lipkin and Perrymore (2009) posit that the experience must be interesting and they must feel engaged at the workplace. Due to the need for continuous engagement and stimulation, Gen Yers often engage in multitasking and have a high ability to scan information swiftly. As they become the biggest percentage of the labor force, Thompson (2011) asserts that the success of employers will depend on the success of the Gen Yers; therefore, engagement is imperative. Therefore, it is the role of the employer to offer different work patterns and tasks and also opportunities to understand the fascinating aspects of even ordinary tasks. At Officeworks, new hires are offered an opportunity to see the different aspects of the company in a rotational program, which include retail, investing, among others. 4.0 Motivation Motivation can be defined as a process that stimulates, rejuvenates, directs as well as sustains performance and behavior. At Officeworks, motivation is promoted through a number of approaches: multitasking, collaboration, technology, relationship building, engaged leadership and improved communication. Most Generation Y employees prefer a flexible work-life balance; therefore, allowing them to integrate their work life with their out-of-work life is a crucial way of motivating them. Besides that, allowing them to schedule their working hours is exceedingly motivational. Feedback is important for Gen Yers; they always look for reviews, comments as well as suggestions on how they can improve, particularly for the ambitious ones. Therefore, scheduling review meetings frequently with Generation Y employees can offer them an opportunity to get the feedback they want and can help HR managers to determine where their worker’s aspirations and skills lie. In consequence, this will encourage the employees to settle any wrangles in their performance or work ethic, and the managers can learn the talents that every employee brings to the company. 5.0 Training and Development Training the Gen Y employees is exceedingly challenging given that their learning style differs greatly from their predecessors of other generations. Mainly, this is because of the fact that these generations were brought up in worlds that are vastly different.  In this regard, the Generation Y members are exposed to different forms of technologies and they depend on these technologies for their day-to day activities. Rowe (2008) suggests that training Gen Y through utilisation of platforms that are technologically advanced is very important since it attracts their attention; thus, making learning more enjoyable and easier. Without a doubt, the Gen Yers are the future of the organisation; therefore, adapting technologically advanced training methods is imperative. Officeworks have realised the unique perspective and competencies of Gen Yers, and for this reason, they are seeking ways of harnessing the strengths of this generation cohort through new training and development programs such as e-learning opportunities. Besides that, Officeworks have developed initiatives that promote mutual understanding and support amongst the multiple generations working in the company. According to Rowe (2008), training on intergenerational dynamics is important because it helps build a bond and a resilient sense of community. Rowe (2008) suggests that Generation Y need soft-skills training such as how to process feedback. 6.0 Performance and Reward Management 6.1 Performance management Performance management can be defined as the process designed to deliver the results by means of high-performing workers. If managed poorly, Generation Y workers can easily become bored and may exit the organization. Normally, they desire for continuous feedback and close interact with their managers. Officeworks do not rely on yearly appraisal meetings because it limits the potential of the employees since they it creates a performance expectation that cannot be achieved easily. In view of this, the company uses Web 2.0 technology so as to encourage interaction between managers and employees and enables employees to communicate freely about the company policies. To improve performance, Officeworks use constant feedback, effective communication as well as workloads flexibility. Gen Yers are hardly prepared for negative feedback, even though they are always eager to receive feedback regularly. Therefore, when carrying out performance discussions with this cohort, managers should first seek workers’ self-assessments, highlight opportunities for development and then create a collaborative plan for improving performance. In consequence, this will improve levels of motivation and engagement amongst Gen Yers. 6.2 Reward Management Attracting and retaining talented staff has been a key issue for many companies considering that the labor supply is declining. Comprehending and meeting Generation Y needs and motivating them through relevant rewarding strategies can result in improved retention. Some of reward strategies used by Officeworks include offering flexibility to travel study and realize work-life balance is. Besides that, the company provides instant financial rewards; have embracedflexible working offering flexible working hours, generous entitlements for annual leave and sabbaticals opportunities. According to Barkhuizen (2014), Gen Yers always look for attention, relevant offers and bespoke communications; therefore, catching up on a regular basis and understanding how to engage them, can be very rewarding. Recognition is another way that companies use to reward their hardworking staff, and is all about acknowledging a person’s accomplishments before their peers. Most Gen Yers want to feel appreciated; therefore, appreciating employees because of their performance can result in motivation and retention of talented young employees. 7.0 Career Development As mentioned by Ritchie (2007), Gen Yers were nurtured in an era where their ideas, opinions and interests were listened to, solicited, and unceasingly acted upon. They have been trained, both in the school system and at home to do what they want and to pursue opportunities that they consider interesting. The goal of this cohort is finding work as well as creating a meaningful life. In view of this, they expect their employers to continuously help them to achieve their career goals. Therefore, learning and development offered by employers is considered compulsory and not a reward. If the employers are help the Gen Yers realise their career goals, then they will be able to retain these employees. Career development is a tool for retaining the right employees. For instance, Officeworks use career development to recognize, manage and respond to the expectations of younger employees so as to generate a positive employment relationship. Officeworks comprehend the significance of career development; therefore, they have they have created a training and development curriculum that can help attract talented Gen Y employees as evidenced in its website (http://www.officeworks.com.au/careers-opportunities). In order to realise greater retention by means of career development, organizational practices must be far-reaching to address the multigenerational workforce expectations. 8.0 Conclusion In Conclusion, the reporthas identified key themes and issues associated with HRM practices with focus on Wesfarmers Limited. As mentioned in the report, understanding the work values of generation-Y employees is crucial for gaining more insight about talented workers, and setting strategies to retain them effectively. Engagement is important; therefore, Officeworks must try and improve communication with graduates in order to make them feel encouraged to open up about what they want from work. Employers have to understand and appreciate the values as well as qualities of this cohort. As mentioned in the report, this generation are career-minded and are technologically savvy; therefore, having training and development programs that are technologically advanced is crucial for retention and motivation. The Gen Yers are motivated and ready to learn; therefore, understanding them and their needs is crucial for recruiting and retaining them. 9.0 References Barkhuizen, N. (2014). Exploring the Importance of Rewards as a Talent Management Tool for Generation Y Employees. Mediterranean Journal of Social Sciences, 5(27), 1100-1105. Dicke, C., Holwerda, J., & Kontakos, A.-M. (2007). Employee Engagement: What Do We Really Know? What Do We Need to Know to Take Action? Paris, France: CAHRS. Dorsey, J. R. (2009). Y-Size Your Business: How Gen Y Employees Can Save You Money and Grow Your Business. New Jersey: John Wiley & Sons. Faour, H., & Heinze, A. (2013). The Use of Social Media to Attract Generation Y in Organisations. 18th UKAIS Annual Conference: Social Information Systems (pp. 1-10). Oxford, UK: Worcester College. Gilbert, J. (2011, October). The Millennials: A new generation of employees, a new set of engagement policies. Retrieved from Ivey Business Journal: http://iveybusinessjournal.com/publication/the-millennials-a-new-generation-of-employees-a-new-set-of-engagement-policies/ Huybers, C. M. (2011). The Recruitment and Retention Of Generation Y. Menomonie, WI: University of Wisconsin-Stout. Lipkin, N. A., & Perrymore, A. J. (2009). Y in the Workplace: Managing the "Me First" Generation. Wayne, NJ: Career Press. Mann, J. (2006). Generations in the workplace. The Bulletin , 74(1). Myers, K. K., & Sadaghiani, K. (2010). Millennials in the Workplace: A Communication Perspective on Millennials’ Organizational Relationships and Performance. Journal of Business and Psychology, 25(2), 225–238. Ritchie, A. (2007). Continuing Professional Development: Pathways to Leadership in the Library and Information World. Boston, MA: Walter de Gruyter. Rowe, K. A. (2008). Training Across Generations. New York: American Society for Training and Development. Sujansky, J., & Ferri-Reed, J. (2009). Keeping The Millennials: Why Companies Are Losing Billions in Turnover to This Generation- and What to Do About It. New Jersey: John Wiley & Sons,. Thompson, N. W. (2011). Managing the Millennials: Employee Retention Strategies for Generation Y. CMC Senior Theses, 240, 1-85. Tulgan, B. (2009). Not everyone gets a trophy: How to manage generation Y. California: John Wiley & Sons. Twenge, J. M., & Campbell, S. M. (2008). Generational differences in psychological traits and their impact on the workplace. Journal of Managerial Psychology, 23(8), 862 - 877. Zemke, R., Raines, C., & Filipczak, B. (2013). Generations at Work: Managing the Clash of Boomers, Gen Xers, and Gen Yers in the Workplace. New York: AMACOM Div American Mgmt Assn. Appendix Interviewer: what are environmental factors that have shaped (HRM) agenda at Officeworks? Participant: They are many, but important factors include remuneration, work-life balance, and motivation. Interviewer: What distinguishes Generation Y from other generations? Participant: They are confident and the most connected generation because of technology. Interviewer: How do the company attract and retain talented young employees Participant: Through work-life balance practices, rewarding and availability of training and development programs. Interviewer: What ways are used to attract and retain Generation Y employees at Officeworks Participant: We normally use social media to attract fresh graduates considering that members of this cohort are active members of social media. Therefore, the company uses social media to update current and future staffs regarding career opportunities. To retain employees the company normally assign the new employees to experienced staffs and offer lucrative pay package. Other ways or retaining younger employees at the company include career development and training and development programs. Interviewer: How do the company engage Generation Y employees? Participant: The company has modified the HR ideas in order to address certain values and needs of Gen Yers employees. Besides that the company allows employees to engage in multitasking tasks. Interviewer: How are young employees motivated at Officeworks? Participant: Motivation is promoted through multitasking, collaboration, technology, relationship building, engaged leadership and improved communication. Interviewer: How is performance improved at Officeworks? Participant: Through constant feedback, effective communication as well as workloads flexibility Read More