Charles Darwin’s theory of evolution has proven that the current generation will always be intellectually advanced than the past generations.

Presently the ‘Generation Y’, ‘the Millennial’, ‘we generations’ or the ‘boomerang generation’ bears the responsibility for bringing a revolution in various fields. It’s important to channelize their untapped potential and ensure that their abilities are sharpened and shaped. A number of firms and organizations have recognized this need and are working on exploring the potential of their workforce by employing young individuals. As the economy expands, companies are returning to the challenge of winning over highly capable professionals to bring renewal and growth. Now it’s explicitly evident that the terrain of talent management has been transformed. Though these freshers lack experience yet they are in great demand. According to a survey by the eye of the intern 56% companies have hired more interns in 2014 than they did in 2013. And this percentage is on a rise.

This rise has compelled the companies to acknowledge the radical changes which young employees can bring in the diverse verticals of the corporate world of finance, marketing and sales, content writing etc. Generation Y possesses new attitudes and perception that sets them apart from other generations. This garden fresh youth and their newfangled ideas constitute a new center of gravity for human resource management. The recruiters today completely comprehend the potential of the fresher’s and also give them the right platform and opportunity to grow and flourish. The involvement of the young has led to a shift in the composition of the workforce. With Gen Y eagerly advancing up the professional ranks and the old boomers encouraging and mentoring them, they are together redefining what constitutes a great place to work. Why this keen interest in hiring interns? How does the company benefit? Are these benefits mutual? And are these short term and long term benefits? Let’s explore these answers.

Innovation and Creativity

The young employees have greater creative and imaginative power. These youngsters have better understanding of the external world. Their ideas are not stagnant and rodent. They have the capability to analyze things critically and thus suggest new innovative ways which benefits the company. Their lack of experience is compensated with their fresh ideas and modern perspective. Established set ups often face ‘saturation crisis’. They are unable to cope with the new order, it is Gen Y here who helps a company remodel their systems and bring an evolution.

Zeal/Ambition

Like a plant which needs air, soil and nutrients a successful company needs a perfect blend of freshness, zeal and integrity. The Gen Y has the correct attitude, zeal and ambition which is profitable to the company. These ‘go getters’ have the enthusiasm to work for the welfare of the company and change the environment of the work place thus ensuring a positive change. Who wants to work in a mundane and monotonous environment? Even the mid leaders gain from this vigor and vivacity.

Cost effective

Members of Gen Y are also cost effective, compared to their forerunners, they appear less motivated by money. The Gen Y cohorts believe that financial gain is not the right reason to join any organization or stick with any employer, for them there are other forms of pay i.e a great team, challenging assignments, conducive environment, a range of new experiences and explicit performance evaluation and recognition. Gen Y are seen to be as more process oriented rather than result oriented individuals. They look forward to personal and professional growth in their lives and are no more attracted to materialistic and momentary rewards.

Radical Approach

Modernization of academic knowledge and exposure to the market equips these young employees with a structured and application based approach. They have a realistic understanding of the algorithms of market and business world. With their entrepreneurial thought process and pragmatic ideas they handle difficult situations in an effective manner. The young employees are also ambitious, their competitive urge and desire to prove themselves helps the firm overcome difficult challenges. They learn to manage their strengths and overcome their weakness. They are adaptive to the new and have an acceptance for everything. With their open minds and newly energized growth plans, Gen Y individuals find new ways to satisfy their workplace demands.

Team Work and Dedication

Working in a team is a top motivator for gen Y cohorts. If some called generation X  ‘ The me generation’ , we might term the generation Y as ‘The we generation’ for their heightened sense of community , loyalty and togetherness. They love to connect with others and enjoy working in offices that are open to conducive learning. They want people even bosses to be readily accessible. Regular team meetings and collaborations with colleagues is preferred by gen Y. They want to be actively involved and included. They expect and respect openness and transparency from their management and colleagues. However, the millennials are also conscious of the job market competition. They are prudent and ever ready to walk an extra mile as to secure their jobs and position in a company. This blend of togetherness and healthy competition works in interest of the company and helps it flourish. Even the employers today are smart enough to use their young employees working spirit in a constructive and positive way.

Tech–Savvy/Technologically Advanced

The first generations to be brought up with computers, Gen Y individuals are early adapters and eager to learn. They prefer to communicate more quickly and effectively via email or social networks as opposed to conventional means of communication. They are attracted to organizations where technology is at the forefront. They want to work with companies which are embracing technology and are using it effectively in their business. In fact, not only can they teach their forerunners to use things like content management and social media, they also constantly look up to their mid leaders for their guidance and advice. In a broader sense, Gen Y are like the off springs of the mid leaders. They constantly mentor and seek each other out at the workplace.

Multitasker’s

Whether in their offices or home Gen Y can do everything at the same time – text, read, work, do research without apparently missing a beat. They don’t believe in restricting themselves to one domain. They try to be active and handle everything around them as to ensure the growth of a company. Through multitasking they try to save maximum amount of time. Millennials embrace multitasking and invariably boast of their ability to juggle different things. This quality makes them constructive leaders of an organization. Even the employers today understand this and are developing new strategies to put their youngest workers fondness for multitasking to work for them. Giving Gen Y employees multiple assignments or developing special project on top of their regular work assignments in order to maintain their worker’s interest is an effective strategy used by the employers.

Networking

Gen Y cohorts belongs to different walks of life thus bring together diversity and great networking. The young employees or interns thus become a medium to approach the masses, especially the youth. The company thus gains connection with various other institutions through these young employees which allows them  to do effective networking. This helps in publicity and promotion of the company and helps in building a reputation. They are radically and ethnically diverse and are also open to diverse and multicultural environment at their workplace.

Flexible

The broad mentality and flexibility of Gen Y cohorts sets them apart from others. Their mobility and openness to work at different locations makes them assets for a company. They can work anywhere with different demographic challenges. Further, these young employees also prefer flexible work schedules. They demand freedom to choose when and where to work and also long for constant recognition and career advice from their mangers. This motivates them to give their 110% efforts to their work.

Au courant with market

Gen Y cohorts are not only technologically but also intellectually advanced and market prudent. They constantly update themselves with all the latest market trends and modern technology. By keeping up with current trends Gen Y individuals are able to break free from the stereotypical approach of handling business and bring profitable and productive changes which are beneficial to a company. They not only believe in walking ahead of time but also strongly exercise it. Gen Y’s sensitivity towards values and their clients accompanied by their good communication skills makes them effective leaders of tomorrow.

Thus, with a broad understanding of the Gen Y cohorts and their forerunners that dominates the work force, it’s apparent that companies whose employment offers unite best with shared values of mid leaders and Gen Y will enjoy a major talent advantage. A progressive work environment is also appreciated by Gen Y, they look forward to advancements and promotions which motivates them to exercise their full potential. With recruitment of these young minds, an organization enjoys immeasurable benefits of more market attuned leaders.

Disclaimer: This is a contributed post. The statements, opinions and data contained are solely those of the individual authors and contributors and not of People Matters and the editor(s).