A whopping 60% Indian employees are not satisfied with their current job, 80% are looking out for job change reveals the ‘Job Satisfaction 2016’ survey by TimesJobs. India Inc. is about to be bumped over by a big challenge – that of talent retention.
Compared to the ‘Job Satisfaction 2015’ survey results there has been a noticeable rise in the level of dissatisfaction. In the 2015 study, 78% employees stated they were happy with their current job, although they were still open to other opportunities.
This drop in satisfaction is a sharp contradiction to the claims and promises of India Inc. employers, who said they have rolled out improved benefits and rewards for the workforce in a bid to retain employees and make their workplaces happier and more fulfilling.
A deeper analysis of the study shows that, of the 60% unsatisfied employees, 80% belong to the junior level, 60% are from the middle level and 40% respondents are from the senior level profiles.
There’s a further alarming revelation when respondents are considered gender-wise. About 70% male respondents said that they were unsatisfied with their jobs while the rest 30% claimed to be happy with their present jobs.
For women employees, this ratio is 50:50. About 50% women respondents said they were satisfied with their job and an equal number of women respondents claimed to be unsatisfied with their current jobs.
Probing on the reasons for this rising employee discontentment, these facts came up:
See: Hiring Expectations of Indian Employers Continue to Remain Strong in Q4 2016
“The paradigm of job satisfaction has moved from salary optimisation to career optimization with a healthy work life balance. Unfortunately, a lot of India Inc. is still concentrating on salary optimisation to increase employee satisfaction. Although a lot of discussions have happened on taking care of holistic career aspirations of employees, it is high time definite steps are taken to arrest this dissatisfaction.” says Nilanjan Roy, Head of Strategy, Times Business Solutions.
“At the same time, Jobseekers need to increasingly do their own research through company reviews and ratings on company rating platforms to ensure they make the right choice,” he adds. For employees, the key elements of job satisfaction include these factors, in order of their preference:-
Job dissatisfaction has always been a concern for India Inc. but the situation is becoming grave now because top talent is scarce and competition among employers is also ratcheting up.
A closer analysis of any workplace will tell you that apart from good salary and good position, employees also vie for softer aspects of the work, such as company culture, values, career growth, job security and work-life balance. Of late, these aspects have become critical differentiators for employees.
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