Increased salary and employee benefits take precedence over job security, according to a Randstad survey.
The survey, conducted by staffing and HR services provider Randstad, polled 7,000 employees and 150 large employers across India.
According to the survey, in 2013, 47 per cent of the employees preferred better salary compensation and benefits such as flexible work hours, and put performance-linked bonuses over job security, which was top priority for 64 per cent of the respondents in 2012. This indicates better optimism on finding new jobs, at a time when the economy is expected to record a 5.7 per cent growth this year, according to IMF estimates.
What women want
In a gender-based analysis, the survey points out that women prefer companies that have better work atmosphere, work-life balance, accessibility to offices and flexible working arrangements.
“Indian companies can still do more when it comes to offering work-life balance and work-out-of-home options, something European companies are better at,” Randstad India Chairman, Paul Van de Kerkhof told Business Line .
A mere 21 per cent of employees feel that working atmosphere is a driver of employee retention. On the other hand, men prefer innovative companies that are financially healthy, offer long-term job security and good training.
The survey says that apart from lack of compensation (which 47 per cent of the employees ranked first), the need to gain more experience and lack of work-life balance were at second and third, highlighted by 23 per cent and 21 per cent of the respondents.
Interestingly, when it came to those in the18-34 age group, the survey said they were more attracted by companies that were innovative, and had global career prospects and training.
The Indian workforce, especially in engineering, has been encountering employability issues.
In a survey by Aspiring Minds, around 82 per cent of the technical graduates are not ready to be employed.
India has 3,000 engineering colleges with around two lakh teachers and about 35 lakh students on their rolls.