Salary, job security and career advancement opportunities are the top reasons that people consider for joining and staying in an organisation, according to a new study, Global Workforce Study 2014, conducted by Towers Watson, a global professional services company.
Globally, the top drivers of attraction and retention remain the same, indicating that Indian employees have similar preferences as their global counterparts for choosing their employers.
Job security remains the No. 1 reason that attracts employees in India, while salary is the top driver to retain them, followed by career advancement opportunities. What’s interesting is that Indian employees cite the length of commute from their home to workplace as the third-most important retention driver.
Additionally, as much as 50 per cent of Indian employees report excessive pressure at work. A similar proportion is worried about their future financial state.
Nearly half the Indian employees view excessive workload as the key source of stress, followed by inadequate staffing and unclear job expectations. Poor team working environment is also an important source of stress for Indian employees.
According to the study, 42 per cent of highly-engaged employees in India could potentially leave their jobs in the next two years. This is much higher than the global average of 26 per cent.
“The findings very clearly indicate that engagement does not always imply loyalty. This is proof of the role that employee value proposition (EVP) can play as an effective tool in creating the right balance between employee preferences and employer needs. It is equally important for organisations to appreciate the differing drivers of engagement and retention, and in doing so assess and address succession risk, especially among critical talent,” said Shatrunjay Krishna, director (talent management and organisational alignment) at Towers Watson India.
ON THE JOB
- 42% of highly-engaged employees in India could leave their jobs in the next two years
- Globally, this figure is 26%
- Most Indian employees cite excessive work pressure