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Glossary of Human Resources Management and Employee Benefit Terms
Generation Y is mostly commonly described as Millennials and is a democratic cohort born between the early 1980s and the mid 1990s-early 2000s following Generation X. Generation Y grew up as a digital native who has seen the transition of switching to technology and adapting to it for daily use. With various unique characteristics and values, Millennials have an impact on the various societies, be it their workplace, social movements.
Millennials is the term mostly used to describe Generation Y or Gen y, are the democratic cohort following Generation X and preceding Gen Z, born between early 1981-mid 1990 to 1996. The generation is known for witnessing the first era of internet and mobile devices.
The birth range of Generation Y is a matter of debate, but roughly considered Birth range is somewhere between early 1980s and mid 1990s till early 1996. The age range for the Gen Y can be estimated around 25 and 40 years old currently.
Here are a few key characteristics of Generation Y:
The values of generation Y can be outlined as
Yes, Gen Y and millennials are the same generational cohort. Both terms are used interchangeably throughout the demographic group between early the 1980s to mid-1990s(1994-6). Gen Y are also called Millennials because they became adults around the time of the millennium.
All the generations are referred to as varied generational cohorts, and each has witnessed different changes. Describing a brief about it:
Generation X, majorly referred to born between the mid-1960s early 1980s. They grew up during high social and economic changes, specifically during the Cold War era. Life of these people has never been easy. After the upheaval, searching for a job opportunity was quite challenging. These were also the people who experienced a revelatory increase in divorce rates.
Generation Y, also known as Gen Z, is the democratic cohort born between the early 1980s and 1990s. These were the major individuals who saw the transitional change brought by the advent of technology and the internet era. Yet they still displayed a more traditional mode of communication, such as phone calls or emails.
Generation Z, also known as gen z are the democratic cohort that comes after Generation Y or Millennials. It includes individuals born between the mid 1990s and early 2010s.Generation Z were the astute generation who has immersed in the digital era in their early age and tends to use immediate forms of communication such as instant messages, social media and video chatting and neglect interpersonal communication.
These are short surveys that can be sent frequently to check what your employees think about an issue quickly. The survey comprises fewer questions (not more than 10) to get the information quickly. These can be administered at regular intervals (monthly/weekly/quarterly).
Having periodic, hour-long meetings for an informal chat with every team member is an excellent way to get a true sense of what’s happening with them. Since it is a safe and private conversation, it helps you get better details about an issue.
eNPS (employee Net Promoter score) is one of the simplest yet effective ways to assess your employee's opinion of your company. It includes one intriguing question that gauges loyalty. An example of eNPS questions include: How likely are you to recommend our company to others? Employees respond to the eNPS survey on a scale of 1-10, where 10 denotes they are ‘highly likely’ to recommend the company and 1 signifies they are ‘highly unlikely’ to recommend it.
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