Reminisce your Valuable Employees: Innovative Retention Strategies for Gen Y Workforce

Retention of key employees is critical to the long-term health and success of any organization. It is a known fact that retaining your best employees ensures customer satisfaction, increased product sales, satisfied colleagues and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning. But some questions is arises in our mind that who is Generation Y ? Why innovative retention strategy is necessary for those employees? How are Generation Y (Gen Y) workers perceived in general? What should organizations do to attract and retain Gen Y talents? Are they any different from their older and more senior colleagues? The answers to these and more were covered in this research paper. Objective: • To study the Innovative employee retention policy for Gen Y workers in different Industries. • To find the benefits given by the employer to the employees through Innovative employee retention policy.