The latest Randstad Employer Brand Research (REBR) 2023 has revealed that Tata Power Company has secured the top spot as India’s most attractive employer brand. This significant rise for Tata Power, which ranked ninth in the previous year’s report, puts it ahead of Amazon and Tata Steel. The report also sheds light on the preferences and expectations of the Indian workforce when selecting an employer, with work-life balance, good reputation, and attractive salary and benefits being key drivers.
The Importance of Work-Life Balance:
Work-life balance plays a crucial role in the choice of an employer, according to the REBR 2023 report. The research indicates that the value placed on work-life balance has grown slightly over the years, particularly among women. In fact, 49 percent of respondents stated that they are willing to resign or have already resigned from their current job to improve their work-life balance.
Supplemental Income and Second Jobs:
The report highlights an interesting trend among employees, as 91 percent agree that an employer becomes more appealing if they allow additional jobs or assignments for supplemental income. This sentiment is stronger among women (92 percent) compared to men (89 percent), indicating the existence of a prevailing gender pay gap. Notably, the desire to take up a second job is highest among employees aged 25-34 and gradually declines with age.
Changing Expectations and Long-Term Career Progression:
Viswanath P.S, MD & CEO of Randstad India, emphasizes the importance of adapting to changing times and the evolving expectations of the talent community. Employees now seek not only job stability but also long-term career progression and job satisfaction. Organizations worldwide are recognizing the crucial role of people in driving business success. Apart from material benefits, employees are looking for non-material benefits associated with being part of an employer brand. This includes identifying a clear purpose at work, which plays a pivotal role in attracting and retaining talent.
Tata Power’s rise to become India’s most attractive employer brand, as revealed by the REBR 2023 report, showcases its ability to meet the preferences and expectations of the Indian workforce. With work-life balance, good reputation, and attractive salary and benefits as key factors, employers must understand and address these aspects to attract and retain top talent. As the expectations of employees evolve, organizations must focus on providing long-term career progression and a clear sense of purpose to align with the changing needs of the talent community.
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