In the current highly competitive job market, recruiting, engaging and retaining top talent is central to a company’s ability to grow. It has also been proven that companies that are able to attract the right talent for the right job have better business outcomes. Thus, establishing and maintaining a consistent employer branding is crucial for companies. This not just results in a holistic approach to the talent acquisition process, it also gives them a chance to display distinctive competitive advantage to stand out, giving candidates a solid reason to associate themselves with the company.
Top drivers among the workforce
In 2016, the Randstad Award survey revealed that salary and employee benefits (48%) remained the top driver among the Indian workforce while choosing an employer. This was followed by long-term job security (46%), financial health of the company (43%), good working atmosphere (40%), and work-life balance (38%). Survey findings also reflected that the Indian workforce preferred to work in sectors like IT & Communication (70%), followed by Automobiles (66%) and FMCG, retail & e-commerce (64%). In 2017, salary and employee benefits, followed by good work-life balance and job security, were the top drivers.
Thus, understanding workforce trends, expectations, and key employee value proposition are imperative for organisations. Especially in the context of employer branding, these hold significant value for attracting new talent and retaining it.
Another interesting finding in 2017 was that nearly 31% employees were not loyal to a specific sector or industry, with compensation being the primary driver for loyalty. Nearly 42% employees said they would be open to shifting their industry if the pay and benefits were similar to or higher than their existing industry.
Considering these factors, it is not surprising that Google India emerged as the winner of the Randstad Award in both 2016 and 2017, and was awarded as the ‘Most Attractive Employer’ in India, based on the Randstad Employer Brand Research survey. The company has won the award for three consecutive years.
In 2016, sectoral specific recognition awards went to Dell India for IT, Samsung India for Consumer Electronics, and Amazon India for e-Commerce. In 2017, they went to Amazon India for e-commerce, ITC for FMCG, and Philips India for Consumer and Healthcare.
The next Randstad Award will be held in April 2018 in Mumbai, promising to shed greater light on the latest employer branding trends and outcomes.