Page 49 - Appreciating Organization's Biggest Assets

workplace and job design. More their employers have been neglected.
than ever, businesses must establish Employers are trying their best
their complete rewards philosophy to meet this gap and have started
and have a thorough grasp of what offering different perks to different
each employee group expects from generations. An organization’s
their Total Rewards programme. workforce generation mix is a
Total Rewards include hard crucial element in determining
compensation (such as guaranteed remuneration and benefits
cash, incentives, bonuses, equity, packages. It is critical to stress that
and so on); people processes and benefits should not be tailored to
programmes (such as health and specific employees depending on
wellness, flexi work, learning their age, since this would constitute
and development, career, and age-based discrimination. Tiered
performance management, among total compensation packages
others); and HR rules (like leave, based on employee grades are the
benefits, promotion, succession best approach to conduct these
planning etc.). Concerns about the intergenerational studies while
cost of living may be a symptom remaining consistent with equal
of the times, given high levels employee opportunity regulations.
of inflation, but they also speak Similarly, the HR recruiting
to issues that these generations function must carefully evaluate
have been expressing for years: the multi-generational component
they do not feel financially secure of the workforce, and the next
personally, and they are deeply part of this essay series will address
concerned about wealth inequality how generations effect manpower
on a broader societal level. recruitment and selection.
This study bought forward the The study threw light on the
needs of the millennials at the ways in which the employers
workplace, which aren’t addressed have been rolling out rewards
to the fullest at times. Millennials which have been breaking down
are looking for some contemporary the walls of workplace cultures.
benefits that their employers have Attracting the employees of
to offer. This generation feels that different generations with different
they should feel empowered by the compensations schemes have
kind of compensation and benefits become one of the crucial aspects
schemes their companies provide of the companies. On the one
them. The millennials feel that their hand, flexibility, transparency and
demands have been neglected by a better work-life-balance is what

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