A study on talent Management Strategies for Attracting and Retaining

Millennial Employees

PRAKRUTHI PUTTASWAMY
PES1UG21BB198

Prof.Akshara G Mr. Nitin

Internal Guide HR Manager
Talent Management Strategies for Attracting and Retaining Millennial Employees
Table of content
Sl. No. Contents of Research Presentation
1. Title of the project – Specialisation based
2. Abstract
3. Introduction
4. Problem Statement
5. Formulation of Objectives
6. Scope of the Study
7. Significance of the Study
8. Literature Review (30 Research Papers)
9. Work Done Statement
TITLE OF THE PROJECT

A study on Talent Management Strategies for Attracting and Retaining

Millennial Employees
Talent Management Strategies for Attracting and Retaining Millennial Employees
Abstract

The purpose of this paper is to enhance the readers’ understanding of the domain of talent
management and employee engagement, and how the former culminates in the latter, specifically as a
tool for retention of employees. The paper also attempts to probe and aid readers in understanding of
the domain of talent management and employee engagement, specifically as a tool for retention of
employees.

This study aims to determine the direct effect of talent management on employee retention and the
indirect effect mediated by organizational justice and the talent perception congruence. Talent
management is a strategy that is believed to minimize employee turnover through retention, namely
by managing talented employees owned by the organization and then retaining these employees. How
to keep up with the employee engagement .
Talent Management Strategies for Attracting and Retaining Millennial Employees
Introduction

Talent management is the process by which companies recruit and cultivate a staff that
is both productive and likely to stay with their firm for the long term. When executed
carefully, this procedure may assist enhance the overall performance of the
organization and ensure its competitiveness.

Millennials were raised in a world where they could express their opinions. Take
advantage of their willingness to provide feedback and utilize it as a possible source of
inspiration and creativity. Their familiarity with technology makes it simple for you to
ask questions, gather, and analyze their comments.
Talent Management Strategies for Attracting and Retaining Millennial Employees
Problem Statement

Hiring managers have found it difficult to appeal to Millennials’ employment needs, which
correlate to results of the study stating that 34.4% of Millennials left their organization
within 16 months. Results from the study show the average employee between the ages of
25 and 34 stayed with an organization between 2.9 and 3.2 years. The general business
problem was that Millennial employees voluntarily leave organizations quickly after
employment. The specific business problem was that business leaders lack strategies and
methods to motivate and retain Millennial employees for more than 3 years.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Research Objectives

Research Questions

•The central research question for this study was the following: What strategies and
methods do business leaders need to implement to motivate and retain Millennial
employees for more than 3 years?

•What strategies and methods do you use to retain Millennial employees?

•What are the critical factors you use to retain Millennial employees?

• What retention strategies and methods do you use to retain Millennial employees in your
organization?

•What strategies and methods do you use that are least effective in retaining Millennial
employees in your organizations?
Talent Management Strategies for Attracting and Retaining Millennial Employees

Research Objectives

• To discover the key drivers that are decisive for millennials to pursue a careeropportunity at an
organisation.

• To recognise the top ten influential factors that impact talent management strategies inIndian
millennial context.

• To highlight the extensive need for alignment of such factors for successful talentmanagement
of Indian millennials

• This qualitative research study involved investigating and measuring traits and characteristics,
which should provide an understanding of the lack of motivation and other retention problems
Talent Management Strategies for Attracting and Retaining Millennial Employees
Scope of the study

The Primary aim of this study is to know that the research was conducted for the
employees at JUST FENCE in respect of study on training program received by the
employees.”

• “This study helps us to understand how the Talent Management Strategies for Attracting
and Retaining Millennial Employees.”

• “Employees are given feedbacks regarding the functioning of the training program
provided by the organization with satisfying with respect to the requirements.”

• “Helps us to understand how the organization keeps a track regarding their employee
performance on timely basis.
Talent Management Strategies for Attracting and Retaining Millennial Employees
Significance of the study

 Establishing a culture that values and invests in people is essential to effective

talent management methods.
 Prioritizing employee development and engagement increases an organization's
ability to draw in and hold onto top people as well as establish a positive
reputation as a place to work.
 To examine the appropriateness of the talent management
 To understand the effectiveness of talent management
 To identify the factors which influence and improves the job satisfaction of
employees.
• To know the employee satisfaction towards the training facilities
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. No. Research Article
Title
1. Attracting and Retaining
Millennials and Gen Z Talent
2. Infosys expands internal
promotions, stock option
programmes to retain talent
Strategies for Motivating and
3. Retaining Millennial Workers
Ana
(Author1 Last Name of Journal, Your summary / Variables /
Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX
Prerna Kohli April 20 , 1999 HR leaders must adopt a holistic approach to
creating a welcoming and inclusive
workplace through technology-driven
employee onboarding and collaboration
initiatives that improve employee
engagement and wellbeing,
Sai Ishwarbharath Jun 17, 2022 Infosys has increased its internal promotions
by 3.5 times compared to last year and
doubled the employee stock ownership plan
coverage over the last two years to retain
talent.
Cristina Barbosa July 2021 The implications for positive social change
include the potential for business leaders to
implement transformational leadership
strategies to improve the workplace
environment, increase job satisfaction, and
reduce turnover, thereby increasing
organizational profitability and productivity
and improving local economies.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. No. Research Article
Title
4. How to Attract and Retain
Millennial Employees
5. Talent management is a
strategic and organized
approach to attracting,
developing, and retaining
top talent
6. A comprehensive employee
retention program is a key
differentiator in tight talent
markets.
(Author1 Last Name of Journal, Your summary / Variables /
Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX
Ron Van Nus June 18, 2022 Millennials make up a large part of the
workforce, and more are entering every year.
But even though their share of the labor pool
will only grow as Baby Boomers continue to
retire, plenty of organizations still don’t
understand what Millennials want, or how to
manage them
CLAIRE HASTWELL 03 MARCH 2023 A talent management strategy is critical to
every business. If your organization was one
of the many impacted by the Great
Resignation of 2022 or if you're clued up on
how workplace culture affects business
profits , you'll know how important it is.
Mary Pratt and Sharon 12 Mar 2022 There is a talent shortage, which is expected
Florentine to grow. Numerous studies show that
recruiting tech talent is become more and
more difficult. Competition is fiercer than
ever,”, an assessment, leadership
development, and talent management firm.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)

Sl. No. Research Article (Author1 Last Name of Journal, Your summary / Variables /
Title Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX

7. Millennial employees value Marco Franzoni June 29, 2023 Attracting millennial employees goes beyond
work-life balance, traditional recruitment strategies. This
meaningful work, and generation has different expectations and
opportunities for aspirations, and it is critical that companies
advancement. align their values with those of millennials to
become an attractive place to work.

8. Attracting And Retaining Sara Kane March 9, 2017 Build in lots of individual feedback and
Millennials Using A provide lots of positive feedback to reinforce
Strategic Talent desired behaviors and results. When
Management Approach providing corrective feedback, focus on the
future process or new/more effective
behavior and always maintain or enhance the
self-esteem of the employee

9. Why Gen Z talent is a 10-18-2023 Gen Z brings fresh perspectives, innovative

cornerstone for Sheila Flavell thinking and unique workplace expectations,
organizational longevity so attracting and retaining high-quality Gen
Z employees is vital to any organization’s
longevity.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. No. Research Article
Title
10. Millennials: The most
numerous working-age
generation
11. Managing Millennial Talent
in Diverse Organizations in
Corporate India
12. Millennials: The New
Generation with High
Employment Expectations
(Author1 Last Name of Journal, Your summary / Variables /
Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX
Kara Erhart March 26, 2019 employer should keep track of this trend and
devise strategies for attracting, engaging and
retaining more talented Millennials in your
workplace for the sake of getting
a competitive advantage
Saundarya Rajesh 2018 Talent management strategies are dependent
on the constitution of an organisation’s
workforce and as such are usually
evolutionary in nature, to address
contemporary issues. With businesses world
over having recognised the economic and
talent imperative of a diverse workforce,
these management strategies must be tailored
to engage, retain and develop employees
Volume 5, Issue 8, August 2017 Recruiting and hiring helps in attracting
Poonam Arora superior talent for an organization but little is
known about what factors attract this talent
in applying for a job. Organizations are
progressing dynamically, not only technically
but also in terms of people,
age and experience.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. No. Research Article
Title
13. Millenniais' (Lack of)
Attitude Problem: An
Empirical Examination of
Generational Effects
onWork
14.
Job Expectations of
Employees in the Millennial
Generation
15. Millennial Expectations
about the Desire to Stayin
the Workplace and Factors
that Influence it
(Author1 Last Name of Journal, Your summary / Variables /
Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX
Brenda J. Kowske, Rena Rasch June 2010 Vol. 25 In general, work attitudes differed cross
and Jack WileySource generations, though effect sizes were
relatively mall and depended the work
attitude compared Boomers and Gen X,
Millennials reported higher levels of overall
company and job satisfaction ,satisfaction
with job security, recognition and career
development and advancement.
Samantha Linden August 2015 Millennials continue to enter the workforce;
therefore, understanding the characteristics
of their generation is essential for business
success.
Volume-4 Issue-7, March 2020 Employee retention among millennials has
Anita Maharani, Hendra been garnering attention of many organizatio
Gunawan, Jonathan David Tirta ns especially the growing numbers of this ge
Wijaya neration in the workforce.
Interestingly, this generation is
observed to have unique characteristics that
are different from the other generations,
which one of them includes their habit of
frequently switching jobs.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. No. Research Article
Title
16. Attracting and Retaining
Millennials in the
Competitive Hospitality
Sector
17.
Ways HR is thinking about
attracting and retaining Gen
Z talent
18. The relationship between
talent management practices
and retention of generation
‘Y’ employees: mediating
role of competency
development
(Author1 Last Name of Journal, Your summary / Variables /
Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX
Korn Ferry 1980 The results of both surveys reveal
employees’ preferred working environments
and motivations and the type of companies
for whom they would like to work.
We include a series of recommendations on
how the hospitality sector can evolve their
techniques of attracting and retaining
these critical employees.
Maya Alexander MAR 19 2023 The impact of Gen Z on the workforce may
be greater than the pandemic and a potential
recession.
Top HR executives are taking notice and
adapting their recruiting and employee
management practices around how to get and
keep these younger workers.
Received 19 Jan 2020, Accepted Competency Development mediates the
Minha Younas 24 Mar 2020 relationship between strategic leadership,
&Muhammad Waseem Bari social media, knowledge sharing and
intention to stay. However, competency
development does not significantly mediate
the relationship between mentoring and
intention to stay.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. No. Research Article
Title
19. Talent Management: 10
Tips for a Successful
Strategy
20.
Inclusive talent
development as a key talent
management approach: A
systematic literature review
21. IMPACT OF TALENT
MANAGEMENT ON
RETENTION OF
MILLENIALS IN THE IT
SECTOR CASE STUDY
OF GOOGLE IRELAND
(Author1 Last Name of Journal, Your summary / Variables /
Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX
Erik van Vulpen Mar 21, 2021 The is primarily the responsibility of HR
professionals to lead talent management
efforts. They must develop and implement
talent management strategies that align with
organizational goals, culture, and values
Maniam Kaliannan , Darshana 6 December 2022 Systematic literature review on talent
Darmalinggam , Magiswary development in talent management
Dorasamy , Mathew Abraham literatures. Inclusive talent development for
individual talent growth and firm
performance.Inclusive talent development
only represents 2.7% of talent management
literatures.
19TH AUGUST 2020 This study concludes that talent management
ABIMBOLA OYINDAMOLA remains a pivotal strategy in retaining
SUSAN employees, regardless of the age or
background.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. Research Article Title
No.
22. HR disruption—Time already to
reinvent talent management
23.
Public Sector Managers’
Organizational Context Challenges
for Talent Management
Implementation with Millennials
24. Unlocking the secrets to recruiting
and retaining today’s young workers
(Author1 Last Name of Journal, Your summary / Variables /
Name, Author2 Last Vol No (Issue No), Method / scope of research
Name, Year) pp XXX-XXX
Lisbeth Claus 9 July 2019. Organizations will be unable to reinvent their
existing talent management practices in a
sustainable way unless they broaden the
talent management conversation.
Solomon Djan 2022 The results of this study can promote positive
social change in public sector management
by offering recommendations on developing
effective talent management strategies to
retain valuable millennial talent and build a
sustainable workplace for a younger and
diverse workforce.
April 19, 2023 As businesses continue to adapt to the
Sabrina Sehra shifting landscape of talent acquisition, one
demographic is standing out as both a
challenge and an opportunity: Gen Z. With
their unique perspectives, values and
preferences, this generation of workers is
shaking up the traditional approach to
workplace culture and recruitment.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. Research Article Title
No.
25. Government can win the talent race
26.
Effective Talent Management
Strategies to Retain your Best
Employees
27. What do millennial expectations look
like in the workplace that signifies a
paradigm shift from existing norms?
(Author1 Last Name, Name of Your summary / Variables /
Author2 Last Name, Journal, Vol No Method / scope of research
Year) (Issue No), pp
XXX-XXX
Amrita Datar 23 May 2022 Strategic human capital management has appeared on
Roopa Sanwardeker this list since 2001; in 2021, it was flagged as an area
J.R. Ruiz that has become worse. The GAO’s assessment stems
John O'Leary from government’s inability to hire and retain
Sushumna Agarwal individuals in critical fields, including cybersecurity,
enforcement of tax laws, and management of IT
acquisitions.
Baidhurya Mani 12 Oct 2023 Considering how people will get along on your team is
essential for effective talent management. The wrong
hire can sow discord and make teams unhappy. That
can impact productivity and team morale.
July 18, 2019 While the world seems uniquely obsessed with
Souvik Majumdar millennials at this moment, it’s good to see things from
a historical perspective - generational change mixed
with technological upheaval has always caused
disruption. But from those disruptions, new paradigms
emerge that become the new norm. We are at that
juncture now, with a choice between responding
thoughtfully or being tied to the past.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Literature Review (30 Research Papers)
Sl. Research Article Title
No.
28. Development and retention
ofGeneration Y employees:a
conceptual framework
29.
A Complete Overview of Talent
Management in a Changing Global
Workplace
30. Reshaping the employee experience to
attract and retain talent
(Author1 Last Name, Name of Your summary / Variables /
Author2 Last Name, Journal, Vol No Method / scope of research
Year) (Issue No), pp
XXX-XXX
Mohammad Faraz Naim and Usha 25 August 2017 The purpose of this paper is to present a conceptual
Lenka framework of development, commitment,and retention
of Generation Y employees.
SRIKANT CHELLAPPA SEP 12,2022 companies with very effective TM reported six times
higher total returns to shareholders than companies that
were very ineffective at talent management
Three strategic elements were found to be highly
effective: attracting talent and skills; retaining talent
and skills; and improving overall performance through
TM
April 18, 2022 Making some great strides toward supporting an
Natasha Nicholson inclusive culture where people feel valued and
understood. And it’s that kind of inclusive culture that
will attract new hires, retain valuable employees and
lead to a more productive and innovative workplace.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Work Done Statement

Week - 1
Second day was basically about attendance method there are few rules and holidays they follow-

• Yearly 25-28 days holidays can be taken

• Festival holiday can be taken 4 days in year
• Unplanned leave yearly 8 days only that can be taken as sick leave
Third day was explained about there app KEKA app which helps them track the off site employees to given there
attendance and update their work and their location tracking

The attendance and the KEKA app and the activity execution was a thought and there attendance method .
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Work Done Statement

Week - 2

Overall how the employee engagement is important at a company was thought and making sure all the employees work
and get more motivated with there works and keep going on .

We had recruitment process so had interviews going on and all the screening process was happening at the HR department.

So basically, the company has the training sessions so this week training session was based on the physical things so the
trainee who had the session individually with the employees and had communication over there physical issues.
 Talent Management Strategies for Attracting and Retaining Millennial Employees
Work Done Statement

Week - 3

Employee engagement is very important in the organization.

What are the major departments that exist in the company.

How basically the outsourcing method works.

Outsourcing training comes in the sales department and even the most of the departments which will
outsourcing things from outside and gaining more of the demand.

Activity session as I mentioned there is gonna be 3 activities in a week and compulsory the employee’s have to
attend 1 at least to gain there points .
Talent Management Strategies for Attracting and Retaining Millennial Employees
Work Done Statement

Week - 4

This week was overall a usefull week and was gained a lot of things and experienced it also .

KAIZEN rule which is a chinses rule followed at the company and this rule is that any strategy or any
implementation can be done and given out there voice to the decision and if it works it will
considered and executed.

There is feedback program that goes everyday u give feedback based on your work and the
subordinate working process and the environment process.

Offering flexible working hours allows employees to have greater control over their schedules.

Wellness programs of having there even like fitness challenges in the training sessions.
THANK YOU

PRAKRUTHI PUTTASWAMY
PES1UG21BB198