High attrition levels have led to higher expectations
A highly-promising job market will lead to more Indian employees looking for a new role and job in the next 12 months, according to Michael Page India’s Employee Intentions report.
Individuals have grown more aware of their market value, the report said.
About 82 per cent of the survey’s respondents said they are likely to change roles in the next 12 months.
High attrition levels have led to higher expectations, with the most commonly expected increase upon changing roles at 26 per cent or above (for 34 per cent of survey respondents).
For almost two-thirds of the respondents (65 per cent), career progression was the primary factor for changing job.
This was closely followed by the company’s brand and reputation (45 per cent).
An interesting trend observed during the course of the survey was the fact that 52 per cent of female respondents were likely to value company brand and reputation than salary, while the converse was true for male respondents with 57 per cent preferring a salary increase.
Sebastien Hampartzoumian, senior managing director, Michael Page India, said, “The market is currently at its prime and businesses would do well to have their ears to the ground while formulating their retention strategies in order to avoid losing star performers.
“We foresee a trend wherein employers will push the envelope while doling out pay packages and other benefits.”
The report is based on an online survey of responses from more than 300 employees in India.
A quick overview of retention strategies highlighted that financial rewards rank as the number one factor that would entice employees to stay in their current role (21 per cent).
