TRAINING AND DEVELOPMENT POLICIES AND PRACTICES FOR GENERATION Y WORKFORCE

What is a Generation?

Kelly defined generations as a generic measure of time, a benchmark of 20 years equals one generation seems to be a common consensus.
A group of people born about the same time who share the same historical experiences, beliefs and attitudes The real experience is every coming freshers batch is seems to be distinct generation

Generational Groups
Veterans Born before 1945 Baby Boomers/Radio Boomers-1945-65 Generation X-1965 -85 Generation Y/ Millennial 1985 -2000 * There is no consensus in researchers on years.

Demographic Dividend
Demographic dividend occurs when a falling birth rate makes for a smaller population at young, dependent ages and for relatively more people in the adult age groupswho comprise the productive labour force. It improves the ratio of productive workers to child dependents in the population. That makes for faster economic growth and fewer burdens on families. Eg. India , by 2020 dividend will show up average age of Indian 29 years as compared to Chins 37 years, Japans 48 years and Europes 49 years.

Competitive Advantage

Barney 1991 suggests that, in order for a resource to qualify as a source of sustained competitive advantage, the resource must add value to the firm, it must be rare, it must be inimitable and it must be non-substitutable.

Objectives of the Study

1. To find out benefits of Indias demographic dividend to global corporate world 2) To map out Corporate responsibility in building intelligent human capital 3) Present results from a study on needs and expectations of Gen Y workforce 4) To reveal innovative T&D practices to integrate Gen Y at workplace and transform their engagement into high performance leadership. 5) To discuss implications for T& D practices

Methodology
Secondary Data Data Sources

Books Journals Newspapers Internet

Alignment of Gen Y workforce needs and expectations and organizational needs

Flexible work schedules Specific job assignments and Liberty in job performance. Worldwide social network Interactive and participative management .

Continue.

To achieve professional growth and development and highest position at workplace in very short period. Variety in work with challenge and change Lateral career development opportunities and advancement Quick recognition for outstanding performance Equal treatment and respect to all

Generation X prefers HARD Work

Holistic- goes into entirety of the subject

Dedication hard to detach from the work, involvement in the work, commitment

Generation X

Achievement -self achieve. through organl achieve.

Resilience Flexible ready to change

Generation Y prefers SMART Work

Specific

Time bound Task Generation Y

Measurable

Remarkable

Achievable

Training Areas
Business communication and soft skills Independent and analytical thinking and decision making Delegation and managing meetings Interpersonal relationship Managing time and Commitments Ethics and values Other skills required for job

Training Methods Suitable to Gen Y Workforce 1. Job Instruction Training(JIT)

2. Reciprocal Mentoring
Knowledge of vision, mission & values of the organization, routine procedures and job skills
Gen Y (Mentee) Computer, IT, new technology, other areas or new perspective in old areas, How to handle Gen Y

Baby Boomers and Gen X(Mentor s)

3. Cross Training with Johari Window

4. Technology Based Training/E-Training

Webinars Blogging, emailing, discussion forums , and instant messaging Computer base instructional material Video games(simulations) Soft skills training by using audio-videos

5. Management games
Leadership Skills

Solves Complex Problems

Benefits of Managem ent Games

Management Skills

Total Quality Principles

Quality Tools

Principles and concepts

Conclusions and Findings

India Inc. can get competitive advantage of Demographic Dividend over European Corporate world by providing proper training to Indian talent. Organization should align their organizational needs to individual needs Ensure T &D is valuable activity and everyone interested and supportive in learning Identify Strengths and weaknesses of Gen Y and design the training methods Provide hands on experience and learning projects

Questions ?????