Three of the top five most attractive companies to work for in India are part of the Tata Group. While Microsoft has emerged as the most favoured company in 2024, rising from the 5th spot last year, Tata Consultancy Services, Tata Power, and Tata Motors are also featured in the top 5 list, according to the latest Randstand Employer Brand Research 2024 report.
The report revealed that 40% of employees expect a significant impact of artificial intelligence (AI) on their jobs, while 26% anticipate a minor impact. Only about 6% expect to lose their jobs as a result of AI.
“Around one in two workers already use AI regularly. This is highest among Gen Z (60%). The majority of workers expect AI to have at least some impact on their jobs. Gen Z are slightly more negative about the impact it may have (12%),” the report said.
After increasing for the past two years, job-switching behaviour among employees in India appears to be stabilising. This is evident from the fact that both the rate of recent job changers and those inclined to switch have remained unchanged over the past year. “Millennials demonstrate the highest inclination for job switching (33%) and plans to change (47%),” the report added.
The report further said that improving work-life balance (51%) remains the strongest motivator for leaving jobs, followed by a lack of career growth opportunities (38%) and low compensation (34%). However, only 29% of employees received compensation that fully covered the rising cost of living, while 40% received compensation that partially covered these costs.
In terms of finding new opportunities, job seekers in India heavily rely on LinkedIn and Google, which have the highest reach and boast a high success rate for job searches. “This trend holds true across all demographics. Additionally, there is a diverse array of other channels utilised by more than one-third of job seekers, suggesting that individuals typically utilise multiple sources in their job search. Notably, channel usage tends to be higher among those with higher education levels,” the report said.
A vast majority of employees (61%) continue to work remotely in some capacity. Despite many companies implementing return-to-office policies over the past two years, this trend highlights the enduring nature of remote work in the modern work environment. “This is something employers should continue to offer given that a third of workers cite inflexible working as a reason to seek new employment,” the report said.
