Red Hat, Inc. (NYSE: RHT) is the world's leading open source and Linux® provider. Founded in 1993, Red Hat is headquartered in Raleigh, North Carolina with satellite offices worldwide. Red Hat has become associated to a large extent with its enterprise operating system Red Hat Enterprise Linux and with the acquisition of open-source enterprise middleware vendor JBoss. Red Hat provides operating-system platforms along with middleware, applications and management products, as well as support, training and consulting services.
According to a recent survey by global recruitment firm Robert Walters, workers can expect salary increases this year, with some countries and sectors approaching 15 to 20 percent. This presents management with an even bigger challenge in retaining and attracting talent than we have experienced in the last few years. To tap into the varying motivations and meet the needs of today’s workers, management must make available a wide spectrum of incentives, from promoting career opportunities to offering competitive compensation and benefits.
Importantly, in addition to tangible incentives, attracting and retaining today’s top talent requires a more open management and leadership approach. The workforce is evolving, and the new employees entering the workforce are part of a major change affecting not only how we hire and who we hire, but how our companies operate on a basic level.
Generation Y is very different when compared to the Baby Boomer and even Generation X, as they want to contribute immediately and expect to fundamentally participate in their companies. By encouraging management to put control in the hands of employees, companies gain a more interested, engaged, higher performing, and innovative workforce who feels like their work means something.
This change is prevalent in businesses throughout all industry groups today. People want to see how their contributions to projects and work make an impact. Think about how quickly things like Wikipedia, threadless.com, Yelp, and Linux progress. What you see, buy, and use is driven by the community because they have a vested interest in making it a success. It is that simple. It is no wonder that people growing up with these technologies and communities want to do the same in their jobs.