the modern-day worker prefers ‘job safety’over the rest

Better safe than sorry

It is easier to assume ‘remuneration’ and ‘career advancement’as top driving factors for attracting employees. In reality, the modern-day worker prefers ‘job safety’over the rest,

INDIAN WORKFORCE - THE MOST ENGAGED! The study observes that one in two employees in India (51 PER CENT) IS HIGHLY ENGAGED,
compared to 35 per cent globally. Savneet Shergill, head - talent acquisition, Dell India points out, “WITH INDIA BEING AN EMERGING MARKET, PEOPLE ARE STILL GETTING USED TO BEING REWARDED FOR WORK THAT IS WELL-DONE. Therefore, Indian workplaces that are inclusive can lead to high engagement rates, but this may not be true across all companies.” Globally, the economic environment has been uncertain. This has compelled employers to adopt cost-cutting measures. “In this context, employee engagement has taken a lower priority. In India, the scenario has been comparatively better. While we too have had our share of domestic uncertainty and challenges, organisations haven’t had to go through painful changes, which impact employees adversely. The average Indian employee, therefore, is relatively more positive,” Nair further explains.  

THE RETIREMENT BACKUP PLAN  
About eight in 10 workers (78 per cent) are willing to set aside a bigger slice of their pay cheque each month to ensure that they will be financially secure when they reach retirement. MOREOVER, ONLY HALF (48 PER CENT) HAVE CONFIDENCE THAT THEIR ORGANISATION’S RETIREMENT BENEFITS WOULD MEET THEIR NEEDS.
    “Most organisations have left it just to the statutory benefits like PF and gratuity. And career-end may not come about just because someone has reached the company retirement age,” Shergill suggests.
    Nair further shares, “As pay is a big motivation for the employee, it is important for organisations to use pay wisely to optimise talent attraction. Offering the highest pay is not the only solution. Organisations can do more to help their employees have a better understanding of the benefits programmes. Employers can also do a better job of articulating the overall ‘Employee Value Proposition’ (EVP) and promote an organisational culture of
    health and wellness
    to help employees
    manage stress and
    cope better.”  

JOB SECURITY TOPS THE LIST  
Job security has emerged as the top driver of attraction for Indian employees, ranking above career advancement and attractive remuneration, according to a study by Towers Watson, a professional services company. This employee sentiment seems to resonate across the Asia Pacific region. So, what makes job security the top priority? Ajith Nair, practice leader, organisational surveys & insights, Towers Watson explains, “INDIA HAS ONE OF THE MOST HIGHLY ENGAGED WORKFORCES IN ASIA,yet employees are anxious about their future financial and job security and are increasingly tired of changes in their work environment. While the Indian economy may have weathered the global recession better than most other nations, individuals have been impacted by mergers and acquisitions, restructuring and cost management initiatives carried out in an effort to ensure that organisations continue with their growth momentum.”
    Roopesh Rajan, area director of HR - Mumbai, Pune & Goa, Hyatt International, South West Asia Ltd, lists key reasons:
    This trend is indicative of the continuing global slowdown and uncertain domestic economic conditions and their implications on business and employee attitudes; 
 
    FOR A VAST MAJORITY OF INDIANS, THE JOB MARKET IS A TOUGH PLACE AND A SATISFYING JOB IS OFTEN HARD TO FIND. THUS, A SECURE JOB GAINS IN VALUE;
    It is mostly the Gen X employees who value job security whereas with opportunities and markets opening up gradually in India, Gen Y employees are more driven by career advancements and attractive remunerations.