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By 2025, Generation Y will make up 75 percent of the global workforce. This generation of employees is dramatically different from previous generations. Having grown up with easy access to the world through the Internet and travel, Gen Y has a deep understanding of globalism and values diversity. They are tech-savvy, highly motivated, self confident and driven. The challenge for business leaders is finding a way to engage Gen Y without alienating older generations of workers. Here are some useful strategies to help satisfy and motivate the new generation of employees:

Real-time Feedback: The traditional performance management process has become ineffective. Gen Y needs real-time feedback, positive and negative, in order to make necessary adjustments required for successful performance.

Communication: Gen Y is comprised of extreme communicators and is accustomed to using a variety of media to communicate. Taking advantage of social media tools can help centralize communication among the members of the organization and reinforce key messaging from management to staff.

Mentoring: By establishing a...