<i>What do millennials want?</i> is a big question facing organization these days. HR managers are looking for recruitment strategies that can help achieve the optimal person&ndash;organization fit. Several organizations have already started implementing innovative practices to attract and retain millennials. They are unique in their characteristics and consumption pattern. Millennials are known to have forced several organization to adapt the workplace and work environment. Their varied ways of life are also reflected in their work settings. Millennials enter the workforce with unique needs, characteristics, expectations and personalities. These differences pave the way for new challenges that contemporary organizations encounter on a regular basis. This book demystifies the problems faced by HR managers and recruiters when hiring and working with millennials. It offers descriptive and prescriptive insights on leveraging the millennial talent.

Succession Planning of Millennials in Family Business

Succession planning of millennials in family business

By 2020, millennials will make up almost 50 per cent of a nation's workforce, thus uprooting the baby boomers from a position they have held since decades (1). In everyone's life, there comes a time to retire and undergo a smooth transition. Research has shown that only a little more than 30 per cent of family-owned businesses survive the transition from the founder to second-generation leadership (2). However, in many cases, businesses tend to fail due to a lack of preparation to hand over the reins of the company to the incoming younger CEO.

Every country is filled with stories of succession planning failures. In India, for example, the family feud ...

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