Successful retention management of Generation Z:Theory and first best practice examples

Seminar paper from the year 2019 in the subject Leadership and Human Resource Management - Generation Y, Generation Z, grade: 1,0, Albstadt-Sigmaringen University, language: English, abstract: This paper will deal with the question: What measures do companies take to retain Generation Z for long-term loyalty? After the previous chapter presented the extensive problem and the goal of this paper, the next section provides fundamental background information about the research topic. The background information is sectioned in three key aspects. First of all, a basic understanding of employee retention management will be created of which measures can be implemented and which framework conditions should exist in the company for successful employee retention. This will later serve as a foundation when it comes to binding Generation Z to companies. In order to be able to place Generation Z in an overall context, the previous generations are first going to be defined. The overview of the four relevant generations illustrates how the generations were shaped by the time of their birth and how they partly differ from the other generations. After a profound knowledge of Generation Z is acquired, the expectations and needs of this group must be determined next. Generation Zs expectations to the employer should provide initial insights into the measures companies need to take in order to retain the new generation in the long term. In the main section of this paper, the two companies Google and Daimler are used as pioneers for the retention of the new generation as best practice examples. Subsequently, these will be compared with the findings from the expectations of Generation Z and further recommendations will be formulated and defined. The summary at the end of the paper will conclude the answer to the stated research question and the way to go forward.