In the time of recessions and global economic meltdown when the companies are being forced to lay-off a huge number of their talented employees, where does the workplace loyalty stand? Regardless of years of dedication and loyalty to a company, companies sometimes have to take tough decisions in accordance with its financial situation. This puts the employee's loyalty towards company in a very weak position. With the Millennials entering the workplace scenario, the companies will face challenges to retain their somewhat younger employees as they have more career opportunities than what their parents had.
Loyalty towards the company keeps the employees from changing careers frequently and the talent pool of an organization remains intact. But, with the uncertain economic scenario the employees fearing layoffs may look for other job opportunities while the suspension remains. There are also various other reasons why employees would want to leave a company- career growth, better salary, better opportunities, new and exciting projects and many other. The Millennials with better career opportunities and their willingness to take risks, loyalty take a back seat. The new breed of employees is looking for flexibility that enables them to live a life they are accustomed to and the same times pursue careers of their choices.
Companies today cannot expect the same level of dedicating and loyalty of the previous generation, who stayed with one company for years, then retired. Not with the same old workplace environment. Keeping with the times companies today and implement flexible working in their workplace policies which will be acceptable for the younger generations.
Millennials not only demand flexibility in working hours, but also the way they work and how their skills and talents are being utilized. They do not want be stuck in an organization for propriety sake; they want a full scope of development options through skill based trainings. As for the cost reduction working remotely today offers one of the best ways of cutting down the corporate expenses. With the new and advanced technology, employees can work from anywhere, anytime. This gives flexibility to the younger employees. This will create a loyalty towards the company they are working for. Flexible working hours means better work-life balance and provides better opportunities for the companies to retain their talent pool.
Loyalty towards the company keeps the employees from changing careers frequently and the talent pool of an organization remains intact. But, with the uncertain economic scenario the employees fearing layoffs may look for other job opportunities while the suspension remains. There are also various other reasons why employees would want to leave a company- career growth, better salary, better opportunities, new and exciting projects and many other. The Millennials with better career opportunities and their willingness to take risks, loyalty take a back seat. The new breed of employees is looking for flexibility that enables them to live a life they are accustomed to and the same times pursue careers of their choices.
Companies today cannot expect the same level of dedicating and loyalty of the previous generation, who stayed with one company for years, then retired. Not with the same old workplace environment. Keeping with the times companies today and implement flexible working in their workplace policies which will be acceptable for the younger generations.
Millennials not only demand flexibility in working hours, but also the way they work and how their skills and talents are being utilized. They do not want be stuck in an organization for propriety sake; they want a full scope of development options through skill based trainings. As for the cost reduction working remotely today offers one of the best ways of cutting down the corporate expenses. With the new and advanced technology, employees can work from anywhere, anytime. This gives flexibility to the younger employees. This will create a loyalty towards the company they are working for. Flexible working hours means better work-life balance and provides better opportunities for the companies to retain their talent pool.
