BANGALORE, June 18, 2019 /PRNewswire/ --
- Employees seek competitive salary, work-life balance and job security
- 45% of the workforce indicates that they plan to change their employer within the next year, 52% is willing to forfeit more than 10% of their salary for job security
Amazon India, the e-commerce giant, is India's most 'attractive employer brand', reveals the findings of Randstad Employer Brand Research (REBR) 2019 , the most comprehensive, independent and in-depth employer brand research in the world, conducted by Randstad, the global leader in the HR services industry. This recognition for Amazon is a first for the brand in the history of REBR in India, spanning 9 years, and the company scored high on financial health, utilization of latest technologies and a strong reputation. Microsoft India emerged as the runner-up, followed by Sony India.
In line with the REBR philosophy, Google India has been inducted into the Hall of Fame category last year, for winning the coveted title for three consecutive years.
The Randstad Employer Brand Research, covering 75% of the global economy with 32 participating countries this year and more than 2,00,000 respondents worldwide, clearly reveals that in 2019 too, salary and employee benefits continues to be the top driver while choosing an employer for the Indian workforce, followed by work-life balance and job security. These are also the areas where there is a significant gap between what employees want and what employers offer in India. 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%) compared to their male counterparts who ranked these as the top aspects at 46% and 46% respectively.
It is interesting to note the importance accorded to work-life balance as a key factor considered while choosing an employer - this has increased even further (46%) compared to the last two years and the emergence of the fact that employees in India are willing to place a premium on job security. The number of employees in India indicating that they would be agreeable to a security versus compensation trade-off is 23%; higher than the broader APAC average. 52% of the survey respondents said that they were willing to forfeit more than 10% of their salary for job security.
Presenting the REBR 2019 survey insights, Paul Dupuis, MD & CEO Randstad India, said, "Industry 4.0 has transformed the landscape for enterprises and skills - companies are being forced to digitalize operations, while employees are up-skilling to continue being relevant in a dynamic marketplace. Employer branding has emerged as a crucial positioning tool for both companies seeking talent with 'must have' skills and candidates seeking organizations that can support their aspirations of realizing a meaningful career."
"The results from this year's REBR reflect the same. 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," he added.
Top 10 most attractive employer brands in India for 2019:
- Larsen & Toubro
Other key findings from the Randstad Employer Brand Research 2019
Top reasons Indian employees stay or leave:
Job security (45%) emerged as the top factor for an employee to stay with the current employer. Offering increased career growth opportunities could be a great technique for organizations to attract at least 43% of the workforce, who said they left their employers for this reason.
Switchers and Intenders in focus:
29% of the survey respondents from India mentioned that they changed their employer in the past year and 45% indicated that they plan to change their employer within the next year.
How do Indians look for and find employers?
64% of the workforce indicated that they used job boards to look out for prospective employers, followed by LinkedIn (59%) and Google (54%). 44% mentioned that they found another employer using job boards, while Google helped 42% find another job.
MNC vs Start-Ups - what does talent prefer?
According to this year's survey results, a vast majority (55%) of Indians prefer to work for a large multi-national corporation, while a negligible 9% preferred start-ups. The preference for MNCs can be strongly attributed to job security, financial health and career progression opportunities that these organizations are able to offer their employees.
Top 3 sectors in India by awareness and attractiveness:
The survey also highlights that the Indian workforce prefers to work for companies operating in sectors like IT, ITeS and Telecom (67%), Retail, FMCG and E-commerce (67%), followed by Automotive (66%) and BFSI (65%).
In each country, 150+ large companies are chosen for the survey. This company list is presented to a representative cross-section of relevant respondents: around 3,500 potential and employed workforce between the age group of 18-65. There is more emphasis on people aged between 25-44. Unlike similar surveys, HR officers, staff or experts are not invited to take part in the survey, which guarantees maximum objectivity. The respondents are asked to identify the companies they recognize and then indicate whether or not they would like to work for them. In the next step, they evaluate the relative attractiveness of each of the selected companies based on several key factors.
About Randstad Employer Brand Research (REBR):
The Randstad Employer Brand Research is the most comprehensive, independent and in-depth employer brand research in the world, identifying the most attractive employers among thousands of companies. The research captures the views of over 200,000 respondents (general public, aged 18-65) on 6,162 companies in 32 countries. It provides insights into the perceptions and drivers of choice of potential employees. Why do people prefer one company, or a specific industry, over another? What motivates them to stay with an employer or start looking elsewhere? The research, conducted since 2000, was done by Randstad's international research partner Kantar.
Randstad is the global leader in the HR services industry. We support people and organizations in realizing their true potential by combining the power of today's technology with our passion for people. We call it Human Forward. In 2018, we helped more than 2.5 million candidates find a meaningful job with our almost 250,000 clients. Furthermore, we trained over 300,000 people. Randstad is active in 38 countries around the world and has top-three positions in almost half of these. In 2018, Randstad had on average 38,820 corporate employees and generated revenue of â‚¬23.8 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad N.V. is listed on the NYSE (Euronext Amsterdam : RAND.AS).
For more information, see http://www.randstad.com
About Randstad India:
Randstad India offers the broadest HR services portfolio ranging from Staffing, Search & Selection to Recruitment Process Outsourcing (RPO). The organization has a vast network of offices across the country to be within the reach of clients, candidates and flexi workers. The company, previously called Ma Foi is a leader in the HR services industry in India for more than 25 years and became part of Randstad through its global acquisition of Vedior in 2008. The Randstad Group is the global leader in the HR services industry, active in 38 countries across the globe. Randstad India continues to focus on developing customized and innovative HR services, leveraging on its unique strengths of geographical presence and end-to-end capability across all HR service functions.
For more information: http://www.randstad.in
Disclaimer: This study contains information in summary from data based on primary research and is intended for general guidance only. It is not intended to be a substitute for detailed research or exercise of professional judgment. Neither Randstad India Pvt. Limited nor any other member of the global Randstad organization accepts any responsibility for any loss occasioned to any person acting or refraining from action as a result of any material in this publication.
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Corporate Manager - Marketing and Communications
Randstad India Private Ltd