Characterization of Millennials in the Labor Context: A Literature Review

DOI:  https://doi.org/10.12804/revistas.urosario.edu.co/empresa/a.8230

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Published: Jan 14, 2022
Issue: Vol. 24 No. 42 (2022)
Section Review article


Keywords: Millennials Generation Y Generation Y characteristics employee retention

Main Article Content

Authors

  Lina María Ramírez Angel
Universidad Nacional de Colombia

Abstract

Currently, three generations of employees work together in organizations: baby boomers are about to leave the labor market and make way for millennials. This article presents a systematic literature review that highlights two aspects: the characterization of millennial workers, which contains psychological, family, and social elements that have shown to have an effect in the work context, and the extraction of retention practices that different authors have proposed to avoid high costs due to loss productivity and hiring and training new employees. From this review, it is concluded that millennials are those born between 1980 and 2000, who, in the labor context, seek a balance between life and work, feedback, contact with leaders, and rapid growth to high positions. It can also be concluded that millennials prefer jobs that generate learning and are challenging, due to which they constantly change jobs. In response to that, it is important that companies understand that in retention practices, it is not necessary to make large money investments but to improve and strengthen the processes around human resources.

Author Biography

Lina María Ramírez Angel, Universidad Nacional de Colombia

Magister en Administración y estudiante del doctorado en Administración de la Universidad Nacional de Colombia, sede Bogotá, integrante del Grupo Salud-Trabajo y del Grupo Interdisciplinario en Teoría e Investigación Aplicada en Ciencias Económicas (gitiace). Docente ocasional Universidad Nacional de Colombia, Bogotá

How to Cite
Ramírez Angel, L. M. (2022). Characterization of Millennials in the Labor Context: A Literature Review. Revista Universidad Y Empresa, 24(42), 1–37. https://doi.org/10.12804/revistas.urosario.edu.co/empresa/a.8230
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