Nearly 88% employees working with Indian organizations say that if offered a choice, they would like to switch to multinational companies
January 19, 2016: It is time for Indian companies to do some effective employer branding as talent in the country continues to crave for jobs in multinational companies (MNCs). This also makes Prime Minister Narendra Modi’s ‘Make In India’ push seem like a challenging dream.
In a recent JobBuzz study, nearly two thirds of India Inc. employees say they would prefer to work with international companies as opposed to working in an Indian company.
“While the cultural differences between MNCs and Indian corporations are shrinking, there still exist good and bad perceptions on both fronts, MNCs are lauded for their processes and professionalism while Indian companies are valued for job security and appreciating people rather than profiles. On the other hand, MNCs suffer from the ‘perform or perish’ environment perception, while Indian companies have to deal with issues of favoritism and the like,” says Vivek Madhukar, COO, TimesJobs.com.
The ‘JobBuzz Indian Vs. MNC Workplace Study 2016’ received responses from 1,023 employees from across the country. Of the respondents, 71% work in Indian organizations while 29% working in multinational companies.
Interestingly, even though the representation is more from Indian companies, the preference for international companies remains higher still. In fact, 59% employees working with Indian organizations say MNCs are better employers while 79% MNC employees say their organizations are better places to work.
A mere 20% employees in the automobile and banking sectors and 25% employees in IT, telecom, dotcom and internet sectors feel Indian companies are better employers. However, nearly 80% employees from the construction sector vote for Indian companies as preferred places to work, highlights the JobBuzz.in study.
While opinion of mid-level staff is divided with a 50-50 split preferring international companies and Indian companies, 89% junior professionals and 80% senior-level professionals say international companies are better than their Indian counterparts.
The preference for international companies is higher for women employees with 80% female employees and 68% male employees voting in favor of MNCs.
What makes international companies better?
According to nearly 33% of the surveyed employees, international organizations score on better pay packages and perks. About 65% employees of these organizations even state they are happy with the way they are being paid while only 33% employees of Indian organizations feel satisfied with their compensations.
Nearly 22% employees from MNCs say their organizations offer better opportunities for career growth and development while a further 19% are impressed with the work environment and culture in international organizations, reveals JobBuzz.in.
Professional exposure for career advancement is another aspect where Indian organizations (2%) lag way behind their international counterparts (12%).
However, Indian companies offer better work-life balance, according to 30% of the thousand odd employees who responded to JobBuzz.in. Only 12% employees gave thumbs-up to work-life balance in international companies. However, long working hours is the common pain point for employees of both Indian and international companies with 21% (respondents from each segment) claiming such.
Indian organizations also scored better on work environment, feel 37% employees – with greater bonhomie and camaraderie among staffers and other stakeholders. Incidentally, 50% employees in international companies complained of higher stress levels while only 8% employees of Indian organizations say they faced stress at work.
However, employees of Indian organizations criticized workplace politics, favoritism and nepotism, saying it resulted in unfair practices and bias while staffers in MNCs did not have such grievances about their employers.
The final verdict
When asked if they would like to switch places, employees of Indian organizations readily agreed while employees working in international companies were quite simply ‘not interested’.
Nearly 88% employees currently working with Indian organizations say that if offered a choice, they would definitely like to move to international companies.� On the other hand, 63% employees of international organizations declined the offer to shift to an Indian company, according to the JobBuzz.in study.
About TimesJobs.com:
TimesJobs.com, India’s leading career and recruitment portal, is one of the best-selling online ventures of the Times of India Group. Conceived and launched in 2004, TimesJobs.com currently has a candidate database of more than 25 million registered job-seekers across levels and functions who clock-in over 60 million page views a month.
TimesJobs.com is positioning itself as an engagement platform and knowledge resource for insights, information, analysis and opinions on the recruitment market. Well-known for its product innovations and unmatched deliverables, TimesJobs.com has pioneered the platforms of:
– JobBuzz.in for candidate engagement with company reviews and ratings
– TechGig.com as India’s leading IT network for careers, coding and competitions
– StepAhead for career assessment and enhancement services
– RecruiteX as the definitive demand and supply recruitment index
– The TJinsite knowledge series and a lot more.
TimesJobs.com serves a corporate customer base of more than 25,000 clients from across the globe. It has been serving clients like HCL, IBM, Yamaha, Godrej, HSBC, Mahindra, Bajaj Allianz, TCS and Thomson Reuters to name a few.