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The Top Generation Y Management Techniques and How They Affect Business

Introduction

Nearly 1/3 of the workforce is made up of Millennials (also known as Generation Y), yet companies are still unsure about how to manage these young employees. In fact, a recent survey found that only 41% of businesses were confident in their abilities to manage Millennials. However, this won't be a problem much longer with organisations starting to realise the importance of generational management and how it affects business today. Since Generation Y is here to stay, it's time that you not only understand their impact on the business world — but how best to manage them.

What's The Right Way to Manage Generation Y?

Gen Y is the generation of people born between 1980 and 1995. They are also known as millennials or Generation Y. This generation has been an important part of the workforce for many years now and it's time for business owners to understand what makes them tick. Here are some ideas from top market research companies in UAE to help you better understand how Gen Yers operate in the workplace:

● The Value of Feedback is High.

Feedback is a key motivator for Gen Y and one that's often overlooked. Employees who receive regular feedback tend to be more engaged, productive and innovative.

Millennials want to know how they're doing. They thrive on feedback, and it's important for employers to provide them with constructive criticism. It's not just about rewarding good performance; employees need opportunities to learn from past mistakes so they can improve their performance going forward.

According to the 2018 Deloitte Millennial Survey, 85% of millennials want regular feedback from their managers. While this desire may seem typical for any generation, it's especially important with Gen Y because they tend to seek out constant feedback from their peers as well - something older generations are less likely to do.

When you give your employees constructive criticism, be sure that you make it clear what went wrong and why it needs improvement. Your goal should be for them to understand what went wrong so that they can avoid making similar mistakes in the future.

They want mentoring and coaching from someone who cares about their development as an employee and as a person. They want someone who will help them grow in their career because they see that person as more than just an authority figure in their lives but also as someone who will help them reach their full potential as individuals.

● Needing a Good Relationship With The Bosses.

One of the most important things to know about Generation Y is that they want a good relationship with their bosses. They want to feel like their opinions are valued and taken into account, and they want to know that their managers have their best interests at heart. If a manager treats his or her employees poorly, then it can affect productivity and even lead to high turnover rates — two things that no business owner wants to deal with.

They want mentoring and coaching from someone who cares about their development as an employee and as a person. They want someone who will help them grow in their career because they see that person as more than just an authority figure in their lives but also as someone who will help them reach their full potential as individuals.

● Look for Clear Goals.

A vital step in getting the right Gen Y business management solutions UAE is to understand what motivates them. Gen Y workers want to know what they are contributing to and how they can advance their careers. They want to know what the company is trying to achieve, how they can contribute and how they will be rewarded for their contributions.

You can help by providing clear goals, with steps that show how each employee contributes to the business goals. This will also help you avoid having Gen Y workers feel like they are just cogs in a machine that doesn't care about them as people.

For example, when you hire a millennial employee, make sure your expectations are clear. You don't want to leave him or her guessing as to what your expectations are. Make sure that you have clearly communicated what needs to be done and how he or she will be evaluated on those tasks.

● Have Interests in Social Responsibility and Helping Others.

Gen Y workers place a higher value on “things,” not just money. In fact, many Gen Yers have a strong desire to make a difference in the world. Gen Y workers are more likely to work for an organisation that has a strong sense of social responsibility. This is because they care about the world around them and want to make a difference. They want to know that their employer cares about more than just making money. For example, they care deeply about the environment and sustainability issues.

Employers who want to attract and retain top-notch Gen Y talent need to understand that this generation is unlike any of its predecessors. The best way to do so is by learning how Gen Y differs from previous generations—and then putting that knowledge into action in order to keep your business running smoothly.

How Can Businesses Get This Generation to Cooperate?

Volonte Management Consultancy in Dubai offers the following business management techniques that can help them effectively manage their Gen Y workers:-

1. Be more open to communication tools:

Gen Y is tech savvy. They prefer to use technology when communicating with their peers, rather than face-to-face. These young professionals like email, instant messaging and social media sites like Facebook and Twitter because they provide an easier way to stay in touch with each other and share information. This means that employers need to be more flexible when it comes to using these tools at work so that they can provide better service for their customers.

2. Encourage a greater sense of teamwork:

Gen Y is social by nature. This means that they thrive in an environment where they can connect with others, share ideas and work together towards a common goal. If you want to get the most out of Generation Y employees, you need to encourage them to work together and interact with one another. The more opportunities you give them for collaboration, the better it will be for your business.

3. Allow for more personalization:

It’s a common stereotype that Gen Y is all about themselves. However, it is a misconception. Gen Y wants to feel like they are part of something bigger than themselves. This generation wants to be recognized for their contributions and hard work. They want to make an impact on the world around them and feel as though they are making a positive difference in their community and society at large. In order to gain the loyalty and commitment of this generation, businesses should encourage team building activities and allow employees to take ownership over projects that they believe in or that have meaning for them personally.

4. Give them room and space for improvement:

Gen Y is used to customization and personalization when it comes to everything from their favourite snack foods to their favourite songs on Pandora Radio. When it comes to their jobs, they're looking for employers who will give them the opportunity to make changes in their work environment -- as long as those changes don't affect productivity negatively or make things more difficult than they already are.

5. Provide variety and flexibility like WFH:

This generation wants to have a say in their schedule and how they work. If you want them to work for you, give them freedom in the way they do their job. This can mean flexible scheduling or working from home (WFH). It might also mean giving them more tasks than one person would normally handle so they feel as though they are contributing to the company in many ways.

6. Offer unique benefits:

Gen Y employees want their companies to offer them something that no other company offers. In order for employees to feel like their employer cares about them as individuals and not just another employee number on a spreadsheet, employers need to offer benefits that appeal specifically to the younger generations such as gym memberships and free food at work events.

Boost Gen Y Creativity and Innovation at Work to Gain Profits

Millennials are the largest generation in the workplace and they're not going anywhere. The oldest millennials are now 37 years old, the youngest 25. They're not just young people working for your business; they're also your customers. Volonte Business Management Consultancy suggests that if you want to succeed in today's business world, you need to understand millennials and how they work. Truth is, they can offer better services to their customers and make more money.

Hire a business performance consultant at leading management consulting firms in Dubai to guide you on how to hire, train and maintain the loyalty of millennials.

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