Employees seek competitive salary, work-life balance and job security
45% of the workforce indicates that they plan to change their employer within the next year, 52% is willing to forfeit more than 10% of their salary for job security.
Amazon India, the e-commerce giant, is India's most 'attractive employer brand', reveals the findings of Randstad Employer Brand Research (REBR) 2019, the most comprehensive, independent and in-depth employer brand research in the world, conducted by Randstad, the global leader in the HR services industry.
This recognition for Amazon is a first for the brand in the history of REBR in India, spanning 9 years, and the company scored high on financial health, utilization of latest technologies and a strong reputation. Microsoft India emerged as the runner-up, followed by Sony India.
In line with the REBR philosophy, Google India has been inducted into the Hall of Fame category last year, for winning the coveted title for three consecutive years.
The Randstad Employer Brand Research, covering 75% of the global economy with 32 participating countries this year and more than 2,00,000 respondents worldwide, clearly reveals that in 2019 too, salary and employee benefits continues to be the top driver while choosing an employer for the Indian workforce, followed by work-life balance and job security.
These are also the areas where there is a significant gap between what employees want and what employers offer in India. While gender differences between men and women on the top three aspects were minimal, women, however, attributed more importance to salary and benefits (49%) and work-life balance (47%)compared to their male counterparts who ranked these as the top aspects at 46% and 46% respectively.
Work-life balance emerges as a key factor
It is interesting to note the importance accorded to work-life balance as a key factor considered while choosing an employer - this has increased even further (46%) compared to the last two years and the emergence of the fact that employees in India are willing to place a premium on job security. The number of employees in India indicating that they would be agreeable to security versus compensation trade-off is 23%; higher than the broader APAC average. 52% of the survey respondents said that they were willing to forfeit more than 10% of their salary for job security.
Presenting the REBR 2019 survey insights, Paul Dupuis, MD & CEO Randstad India, said, "Industry 4.0 has transformed the landscape for enterprises and skills - companies are being forced to digitalize operations, while employees are up-skilling to continue being relevant in a dynamic marketplace. Employer branding has emerged as a crucial positioning tool for both companies seeking talent with 'must have' skills and candidates seeking organizations that can support their aspirations of realizing a meaningful career."
"The results from this year's REBR reflect the same. The emergence of career progression as a key 'stay or leave' attribute is a testament to the fact that even in a digital first world, employees would prefer to work for a company that offers a clear pathway of growth. Add to this mix, 'purpose' and the employer branding proposition becomes an unmatched one," he added.
Top 10 most attractive employer brands in India for 2019
Amazon - focuses on e-commerce, cloud computing, digital streaming and artificial intelligence. It is considered one of the Big Four technology companies along with Google, Apple and Facebook.
Microsoft - develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services.
Sony - the diversified business of Sony includes consumer and professional electronics, gaming, entertainment and financial services.
Mercedes-Benz - known for luxury vehicles, buses, coaches, and trucks. The headquarters is in Stuttgart, Baden-Württemberg.
IBM - American multinational information technology company headquartered in Armonk, New York, with operations in over 170 countries
Larsen & Toubro - an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India. It was founded by two Danish engineers taking refuge in India.
Nestle - the largest food company in the world, measured by revenues and other metrics, since 2014.
Infosys - provides business consulting, information technology and outsourcing services. It has its headquarters in Bengaluru, Karnataka, India.
Samsung - comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol. Samsung was founded by Lee Byung-chul in 1938 as a trading company.
Dell - American multinational computer technology company that develops, sells, repairs, and supports computers and related products and services.