Bosses wishing to retain and attract employees in India should work on providing a good salary and job security for their staff.
According to Towers Watson’s Global Workforce Study 2014, job security was the number one reason that attracts employees in India, while salary was highlighted as the number one driver to retain them.
Career advancement opportunities ranked at second place in the list of top retention factors for Indian employees, followed by length of commute.
The survey highlighted such findings could be useful for bosses wishing to curb turnover rates in company, especially with almost half (42%) of highly engaged employees in India stating they could potentially leave their job in the next two years. This figure was much higher than the global average of 26%.
The survey also found more than 50% Indian employees report excessive pressure at work.
Additionally, almost half of the Indian employees viewed excessive workload as the key source of stress followed by inadequate staffing and unclear job expectations. Poor team working environment was also an important source of stress for Indian employees.
“The findings very clearly indicate that engagement does not always imply loyalty,” Shatrunjay Krishna, director, talent management and organisational alignment, Towers Watson India, said.
“This is proof of the role that the employee value proposition (EVP) can play as an effective tool in creating the right balance between employee preferences and employer needs.
“India is a highly diverse talent market and hence it becomes pivotal for companies to have a well-defined and articulate EVP. 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.”