Technology giant Microsoft India is the country’s most attractive employer brand, showed Randstad Employer Brand Research 2020 by HR firm Randstad.
Here, Samsung India stood at the second spot while Amazon India came third. Infosys took the fourth position while Mercedes Benz came fifth.
As per the research, Microsoft India scored high on financial health, strong reputation and utilisation of the latest technologies.
The Randstad Employer Brand Research, covering 75 percent of the global economy with 33 participating countries and more than 1,85,000 respondents worldwide, showed that in 2020, work-life balance (43 percent) emerges as the top employer value proposition (EVP) driver for the Indian workforce while choosing an employer.
This is followed by attractive salary and employee benefits (41 percent) and job security (40 percent). These are also the areas where there is a significant gap between what employees want and what they think employers offer in India.
In 2019, Amazon was the most attractive employer brand in India followed by Microsoft and Sony. Mercedes Benz was at the fourth position while IBM came in at fifth.
This year, it is interesting to note that there are no gender differences in the top two EVP drivers. Both male and female respondents attributed equal importance to work-life balance (43 percent) and attractive salary and employee benefits (41 percent) as key factors while choosing an employer.
However, more men (40 percent) considered job security as a key factor while choosing an employer than women (39 percent).
A higher percentage of male respondents (36 percent) also accorded more importance to career progression opportunities compared to their female (33 percent) counterparts.
Paul Dupuis, MD & CEO Randstad India said that this research is crucial right now amidst COVID-19 since the job market is undergoing a paradigm shift.
“The need for organizations to transform their employer branding proposition to make it more ‘humane’ in the new world of work becomes even more critical,” he added.
Here are the top 10 most attractive employer brands in India for 2020:
8. Dell Technologies
9. ITC Group
10. Tata Consultancy Services
What do employees want from the companies?
As per Randstad research, 38 percent of Gen Z (18-24 years) are looking for good training opportunities from their employer, while 34 percent of the Millennials (25-34 years) are attracted to forward-thinking and tech-savvy organizations and deem the use of latest technologies as a very important attribute.
Further, 46 percent of Gen X’s (35-54 years) find good work-life balance a very important pull-factor towards an employer, whereas 32 percent of the Boomers (55-64 years) find a convenient location as the key factor.
Job switches in the past and near future
As per the Randstad survey, 69 percent of the survey respondents mentioned that they stayed with their employer in the past year and 43 percent mentioned that they plan to change their employer within the next year.
Work-life balance emerged as the top factor for stayers (45 percent) while 71 percent of switchers and intenders mentioned that they changed their employer or plan to do so shortly because of a lower salary compared to elsewhere.
Further, 35 percent of the survey respondents who left their previous employer received a salary increase between 1 percent and 10 percent.
The top most attractive benefits for the Indian workforce are healthcare (85 percent), flexible working hours (84 percent) and the possibility of working from home (83 percent). Other factors include internal training and subsidized higher education like short-term courses, certifications (80 percent) and group life insurance (79 percent).
Among sectoral preferences, the survey showed that the Indian workforce prefers to work for companies operating in sectors like IT, ITeS & telecom, automotive, followed by FMCG, retail & e-commerce and BFSI.