Employees in India consider high compensation and career advancement as their top priority, according to LinkedIn’s latest Global Talent Trends report. However, upskilling, work life balance and flexibility are also highly valued among them, said the survey. LinkedIn VP of Global Talent Acquisition Jennifer Shappley attributed the need to prioritise compensation as candidates evaluate opportunities as they look for stability in the ongoing economic volatility.
Low Workforce Confidence
The survey which was conducted across 13 countries including India, US Australia and UK among others showed that confidence of employees in India to improve their financial situation in the next six months decreased by 9 points since the beginning of this year. The uncertainty over the near future and constant changes in the last one year with “rapid post-pandemic recovery late 2021 to record-high inflation rates and economic slowdowns” has dampened the confidence of employees in their ability to improve their financial situation.
Internal mobility increases employee retention
The survey also found that employees who are either promoted or make a lateral change within the organisation are most likely to stay as compared to those who have stayed in the same role for a few years. As per the report, employees who moved internally after two years has a 79% chance of staying at their company. However, ones who have not made an internal move has a 67% chance of staying at the two-year mark. After three years, an employee who has made an internal move has a 64% chance of staying, and an employee who has made no internal moves has a 54% chance of staying, said the report. “As talent leaders, we need to be prepared to speak to candidates about what our organizations value and how we support our employees. And this isn’t just a hiring strategy – it’s key to ensuring we retain our best talent, as well,” Shappley said.
High demand for remote jobs
India continued to be one of the countries with highest share of remote-job applications and posts even as it is lower than the global trends. The report highlighted that remote-job postings on LinkedIn increased 1% since September 2021, while applications to remote jobs surged over 7% in the same time period. In May 2022, remote-jobs reached an all-time high, at 20.6% of all job posts in India while remote jobs attracted 20.6% of all applications. By September this year, remote-job posts dropped to 11.3%, but the share of remote applications, out of all applications in India has surged to 20.3%, indicating the increasing demand for remote work in India.
