Amazon India gets chosen as India’s most ‘attractive employer brand’, as per the findings of Randstad Employer Brand Research 2019. The company scored high on financial health, utilization of latest technologies and a strong reputation. Other companies like Microsoft India and Sony India, were second and third on the list, respectively.
Further, Google India has been inducted into the Hall of Fame category last year, for winning the coveted title for three consecutive years.
In terms of other work trends, salary and employee benefits continues to be the top driver for candidates while choosing an employer, followed by work-life balance and job security.
Let’s take a look at the key trends that have emerged from the report:
Top 10 most attractive employer brands in India for 2019:
- Larsen & Toubro
The importance of job security among Indian workforce prevails
45 percent of the respondents chose job security as the top factor to stay with the current employer.
About 29 percent of the survey respondents from India mentioned that they changed their employer in the past year and 45 percent indicated that they plan to change their employer within the next year. 43 percent of them shared that they often quit the organization because of lack of growth opportunities.
Paul Dupuis, MD & CEO Randstad India said, “Industry 4.0 has transformed the landscape for enterprises and skills - companies are being forced to digitize operations, while employees are up-skilling to continue being relevant in a dynamic marketplace. The emergence of career progression as a key ‘stay or leave’ attribute is testament to the fact that even in a digital first world, employees would prefer to work for a company that offers a clear pathway of growth. Add to this mix, ‘purpose’ and the employer branding proposition becomes an unmatched one.
The top drivers while choosing an employer
Interestingly, the importance given to work-life balance as a key factor considered while choosing an employer has increased even further to about 46 percent.
As per the report, while gender differences between men and women on the top three aspects were minimal, women, however, attributed more importance to salary and benefits (49%) and work-life balance (47 percent) compared to their male counterparts who ranked these as the top aspects at 46 percent.
Further, the number of employees in India indicating that they would be agreeable to a security versus compensation trade-off is 23 percent. In fact, about 52 percent of the survey respondents said that they were willing to forfeit more than 10 percent of their salary for job security.
When it comes to platforms, most job-seekers look for employers on, 59 percent of the respondents chose LinkedIn and 54 percent selected Google.
Where does the Indian workforce want to work?
A vast majority (55 percent) of Indians said they would prefer to work for a large multinational corporation, while a negligible 9 percent preferred start-ups.
The preference for MNCs can be linked with other trends that emerged from the survey, like job security, financial health and career progression opportunities that these organizations are able to offer their employees.
The survey also highlights that the Indian workforce prefers to work for companies operating in sectors like IT, ITeS and Telecom (67 percent), Retail, FMCG and E-commerce (67 percent), followed by Automotive (66 percent) and BFSI (65 percent).
As talent becomes scarce, and organizations grapple with the challenges of skills shortage, employer branding becomes a crucial positioning tool for HR leaders, recruiters and hiring managers, to seek the right talent.
Companies have to focus on making jobs more secure, creating a culture of work-life balance and providing more growth opportunities to their employees. However, the work doesn’t stop here. They have to ensure that they communicate and share more about these practices with their current and potential employees.
The practices like extending more financial health and giving more career progression opportunities should not only exist but be marketed as well. Then only employers will be able to brand themselves and attract the right talent, who is seeking organizations like them.
All the HR professionals must take a note of these hiring trends and keep in mind the preferences of job seekers while making their hiring strategies.