Tata Power Company has emerged as the country’s most ‘attractive employer brand’, followed by e-commerce giant Amazon and Tata Steel, a research report by Randstad India revealed .
HR services provider Randstad India’s annual report ‘Randstad Employer Brand Research (REBR) 2023’ revealed that Tata Power Company scored very high on financial health, good reputation and career progression opportunities — the top 3 Employee Value Proposition (EVP) drivers for the organization that helped the brand get to the winning spot from rank 9 in 2022.
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Importance of Work-Life Balance
One of the primary factors influencing the choice of an employer is work-life balance. The REBR 2023 reveals that the value placed on work-life balance has grown slightly in relative importance over the years. This aspect is particularly significant for women, who tend to emphasize work-life balance more than men. In fact, 49 percent of the respondents mentioned 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, with 91 percent agreeing that an employer becomes more attractive if they are allowed to take up additional jobs or assignments for supplemental income. This sentiment is stronger among women (92 percent) compared to men (89 percent), indicating the 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.
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Changing Expectations and Long-Term Career Progression
Viswanath P.S, MD & CEO of Randstad India, emphasizes that changing times lead to changing expectations among the talent community. It is becoming increasingly important for employees to envision their long-term career progression and job satisfaction. Organizations worldwide are recognizing the pivotal role of people in driving business success. Employees seek not only job stability but also non-material benefits associated with being part of an employer brand. This includes identifying a clear purpose at work, which plays a crucial role in attracting and retaining talent.
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