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Job security, not salary, is the draw for employees in India: Study

Source : BUSINESS_STANDARD
Last Updated: Fri, Dec 07, 2012 13:10 hrs

pFor Indians job security is more important than other factors such as salary and perks says a new studyppAccording to the India findings of the 2012 Global Workforce Study by Towers Watson Indian job seekers look for security while choosing a company for employment followed by career advancement opportunities However in terms of retention salary is the most important to employeesppAjith Nair practice leader - organisational surveys and insights Towers Watson said &ldquoThe economic uncertainty around the world has affected Indian employees as well Due to this job security is on top of their mind compared to countries like China where salary is the topmost factor and Japan where challenging work is on top for employee attraction&rdquo In employee retention apart from salary career advancement opportunities including strategic roles offered and critical group control retirement benefits convenience of work and location are also crucial the study explainedppNair said the trust factor associated with companies is also crucial for Indian employees To attract talent companies should create strong employee value propositions EVP that leverage trustworthiness and credibility of the corporate brand he added &ldquoThe overall global environment is gloomy India is performing better than other poor performers in the world This does not mean that the employers do not need to take any further steps for engaging employees and bringing down the level of disengaged employees&rdquo he saidppIt showed that companies with high sustainable engagement have three times the operating margins than those with lower levels of engagement They also have lower retention risk and fewer days are lost per year for employees with high engagement in these companiesppNair explained that stress balance and workload are the most important factors that influence sustainable engagement of employees in India About 50 per cent were bothered by excessive pressures at work and 57 per cent respondents have been working more than normal hoursppThe study advised employers to communicate the EVP clearly to employees so that they could understand the employment deal and were fully aware if the tangible and non-tangible rewards that they get for their performanceppThe India findings are based on a survey of 1000 employees in India From the total surveyed individuals about 30 per cent belong to companies with employees of 10000 and above About 30 per cent of companies fall in the 3000 to 10 000 employees basket and the rest are small companiesp

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