Job scenario in India is buoyant, employees confident of doing better: Survey

MUMBAI: The jobs scenario in India is buoyant and employees are confident of doing better in the coming months, a survey conducted by the UK-based recruitment agency Michael Page has found, pointing to a challenge for employers to fine-tune their strategies to bring in and retain best talent.

With expanding career opportunities in the country, employees are increasingly becoming more aware of their value in the market, according to the Michael Page Employee Intentions Report 2015-16 for India, shared exclusively with ET.

"This is leading to high salary expectations, with more than a third of the respondents expecting to receive a salary increase of 26% or more when changing roles," said Sebastien Hampartzoumian, senior managing director, Michael Page India. This is also resulting in high turnover, he said, with as many as 82% of the employees intending to change roles in the next 12 months. Besides, the survey showed that 76% of the employees will consider overseas opportunities in the next 12 months.

The report is based on responses of more than 300 employees in an online survey and supported by insight gleaned from conversations with thousands of employees. The participants in the survey represent a broad range of professional occupation groups and positions ranging from entry level to senior management.

The survey showed employees in India expect significant salary increases when changing roles, with the most commonly expected increase being 26% or above (for 34% of survey respondents). A further 29% of respondents expect an increase of 21-25%.

Male employees are more aggressive than their female counterparts when seeking salary increases while changing jobs, with 35% of men expecting a raise of 26% or more, as compared with 21% of females who expect the same. Scope for career progression is the most important factor when changing jobs for almost two-thirds of survey respondents (65%), ahead of an increase in salary (56%) and company brand and reputation (45%). Learning and development opportunities are important for 34% of employees, and a better title is a key decision maker for 31%.

International opportunities are important for employees in India, with 76% indicating they would consider looking for overseas career opportunities in the next one year. There is no definitive leader when it comes to preferred overseas locations. Although 29% would prefer to remain in Asia, with Singapore being the top location, many respondents indicated they would be willing to relocate anywhere in the world. Other popular locations include the Middle East, North America, Australia and New Zealand.

Of the survey respondents who would consider working overseas, the number one reason is to broaden experience and learn from international organisations. While the lure of working internationally is strong, good market conditions, a positive outlook and solid retention strategies could well persuade many employees to remain in India and make the most of the many opportunities that will be available in the next two years, the survey found.

The findings show that employers should expect a significant number of requests for a salary increase, with 75% of employees indicating that they are likely to ask for higher remuneration in the next 12 months. The most commonly expected pay rise will be in the range of 10 to 15%, for 45% of survey respondents, while 28% expect between 16 and 20% and a further 24% expect an increase of more than 21%.

By The Economic Times Published: Jun 15,2015

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