Employee Value Propositions and the Indian Workforce
A recent study by Randstad, titled Employer Brand Research (REBR) 2024, surveyed over 1.73 lakh respondents across 32 markets, including India. The study found that work-life balance, equity, attractive salary, and the right compensation and benefits package are the top three drivers for the Indian workforce when choosing an employer.
Top Employers in India
The study also ranked employers based on employee perception. Microsoft emerged as the top choice, followed by TCS, Amazon, Tata Motors, Infosys, and Samsung India.
Meeting Employee Demands in a Changing Job Market
In today's dynamic job market, retaining talent is a significant challenge. Companies are finding innovative ways to meet employee demands and create a positive work environment.
Amazon, for example, offers flexible work arrangements, part-time options, and work timing flexibility to help employees balance their work and personal lives. The company also provides access to career development opportunities and upskilling programs throughout an employee's tenure.
The Importance of AI Skills
The Economic Survey 2024 highlighted the skills gap as a major challenge in the Indian employment landscape. The Randstad study found that leveraging AI is considered a highly important skill in the current job market.
Infosys is committed to equipping its employees with the skills needed to thrive in an AI-driven world. The company invests in reskilling its employees and redesigning jobs and platforms to allow for seamless career transitions to newer technologies.
Employee Preferences and Retention Strategies
The study found that Indian employees have a strong inclination towards the auto sector, with Tata Motors being the top choice. Tata Motors attributes this to its employee welfare policies, growth opportunities, and focus on innovation and collaboration.
The company also emphasizes the importance of competitive compensation packages and benefits to retain its talented workforce. By maintaining open communication with employees and understanding their needs, Tata Motors provides a comprehensive package that addresses both financial and non-financial aspects.