Millennial workforce shaping HRM practices in the organization

Abstract

Major studies have forecasted that by 2025, millennials (born between 1980 and 2000) will comprise 75% of the global workplace. It has been noticed that the millennials and their expectations about the workplace are different from that of the previous generations. The companies have been facing challenges in getting millennials to adapt to the current HRM practices. A study by the Education Advisory Board suggests that millennials will job hop up to 20 times in their career, which has not been the case conventionally. An On-Demand survey conducted by the Cornerstone has revealed that 84% of the employees feel disengaged at their workplace specifically in terms of career planning and professional growth inside the organization. Retention and engagement of millennials have been observed to be the major concerns for the organizations across all the sectors.