2.1 Overview of Research and Development Department
Research and Development (R&D) is composed of such investigate activities that a business selects with an intent make a discovery which results in the development of new products or leads to improvement in the existing products. R&D is important for an organization as it helps in the future growth and expansion of the business. An educational background in hard sciences or engineering is required to be a part of research and development team. An advanced degree in the relevant field with both Bachelor's and Master's degree (Vonortas, 2012; Anderson, 2012).
2.2 Organizational Culture and Environment of R&D
- 2.2.1 RnD Organization Structure
Chen et al. (2014) and Argyres & Silverman (2004) in their study discuss the different roles of organizational structure that are input-oriented, output-oriented, and matrix organization structure. The matrix R&D organizational structure transfers the knowledge to input-oriented R&D organizational structure in the form of horizontal integration. The knowledge that is transferred to output-oriented organizational structure integrates the capabilities in vertical integration (Argyres & Silverman, 2004; Chen et al., 2014).
- 2.2.2 RnD Organizational Culture
According to Prado-Gasco et al. (2015), the R&D organizational structure id more of a task culture in which the team structures are job and project oriented (Prado-Gasco et al., 2015).
- 2.2.3 RnD Work Environment
Clarke (2002) and Clarke (2005) states that the R&D work environment is based on five factors that are uncertainty of scientific activities, assessment of contribution, advancement of scientific knowledge, never-ending/unlimited research, and difference in level the of expectancy. All these factors make up to R&D work environment and are essential factor for effective and efficient R&D (Clarke, 2002; Clarke, 2005).
2.3 Retention of Gen Y
Retention and its importance
Gen Y is a quick moving group of individuals that switch jobs rapidly. Retention is holding back the employees so that they remain associated with their current jobs. It is important to retain employees because new employees take some time to understand the culture and work environment of a company. Therefore, companies try to retain their employees to avoid wasting time and resources (Reitman, 2006).
Existing Retention Strategies
Every organization wants to develop long-term retention strategies as it is beneficial for the organization. To make the retention strategies effective, the companies must focus on the three-legged stool that is 'Join, Stay, Leave Model'. The data for all three factors are important for proper implementation of retention strategies. The reason for joining, staying, and leaving are important to help the management of an organization to make retention strategies (Furnham, 2005).
2.4 Factors Affected Retention of Millennial
2.4.1 Person organization fit / Work Value Fit
According to Viaenen et al. (2007) and Cennamo & Gardner (2008), Generation Y is not supportive of work value fit in context to the communication and provided work value because it is unknown to the employers. The intention of employee turnover is high. Therefore, the Generation Y is likely not to fit in the organization. The group belonging to Generation Y has high advancement and is more focused towards technological advancement (Viaenen et al., 2007; Cennamo & Gardner, 2008).
2.4.2 Career Development
Evangelu (2014) states that the generation Y career development is always at risk as they are continuously looking towards the high performance, productivity, and speed. The group has non-balanced duties, rights, and motivation in almost all the circumstances (Evangelu, 2014).
2.4.3 Trust in Relationship
2.4.4 Flexibility in work arrangement
The study of Kasalová et al. (2015) state that the generation Y is flexible towards different work arrangements because they are habitual of the switching jobs and working in new environments. As the main focus of this generation is to move to a new place and develop their marketability, therefore, they quickly accept different work arrangements (Kasalová et al., 2015).
2.4.5 Wages and Benefit
According to Parment (2011), the wages and benefits are the biggest motivational factors for generation Y. The generation Y is focused towards growth and improvement, and any good opportunity can attract them and influence them to switch their job (Parment, 2011).
List of References
Anderson, N.G., 2012. Practical Process Research and Development: A Guide for Organic Chemists. Cambridge: Academic Press.
Argyres, N. & Silverman, B.S., 2004. R&D, Organization Sstructure, and the Development of Corporate Technological Knowledge. Strategic Management Journal, 25(8/9), pp.929-58.
Cennamo, L. & Gardner, D., 2008. Generational differences in work values, outcomes and person-organisation values fit. Journal of Managerial Psychology, 23(8), pp.891-906.
Chen, H.H., Qiao, S. & Lee, A.H.I., 2014. The impacts of different R&D organizational structures on performance of firms: Perspective of absorptive capacity. Journal of High Technology Management Research, 25(1), pp.83-95.
Clarke, T.E., 2002. Unique features of an R&D work environment and research scientists and engineers. Knowledge, Technology & Policy, 15(3), pp.58-69.
Clarke, D., 2005. Theory of Technology. New Brunswick: Transaction Publishers.
Evangelu, J.E., 2014. Generation Y and the reality of her Motivation in their Personal and Professional Development. Czech Hospitality & Tourism Papers, 10(22), pp.59-65.
Furnham, A., 2005. The Psychology of Behaviour at Work: The Individual in the Organization. London: Psychology Press.
Kasalová, B., Seitlová, K. & Seitl, M., 2015. Work Environment Preferences of Generation Y in Relation to Attachment Theory. Proceedings of the European Conference on Management, Leadership & Governance, pp.607-15.
Noble, S.M., Phillips, J. & Haytko, D.L., 2009. What drives college-age Generation Y consumers? Journal of Business Research, 62(6), p.617–628.
Parment, A., 2011. Generation Y in Consumer and Labour Markets. London: Routledge.
Prado-Gasco, V.J., Pardo, I.Q., Calabuig-Moreno, F. & Vveinhardt, J., 2015. Knowledge Management in R&D Teams at a Spanish Technical University: Measurement and Relations with Organizational Culture. Engineering Economics, 26(4), pp.398-408.
Reitman, A., 2006. Talent Retention. Alexandria: American Society for Training and Development.
Viaenen, A.E.M., De Pater, I. & Van Dijk, F., 2007. Work value fit and turnover intention: same‐source or different‐source fit. Journal of Managerial Psychology, 22(2), pp.188 - 202.
Vonortas, N.S., 2012. Cooperation in Research and Development. Berlin: Springer Science & Business Media.
