Microsoft has been recognized as India’s most ‘attractive employer brand’ for 2024, as reported by the Randstad Employer Brand Research (REBR) 2024. The tech giant is followed by Tata Consultancy Services (TCS) in second place and Amazon in third. Microsoft’s high ranking is attributed to its outstanding performance in financial health, reputation, and career progression opportunities, which are the top three Employee Value Proposition (EVP) drivers according to the survey.
Other Leading Employer Brands
The REBR 2024 also highlights other prominent employers in its top ten list. Tata Power Company is ranked fourth, followed by Tata Motors in fifth place. Samsung India occupies the sixth position, with Infosys seventh, Larsen & Toubro eighth, Reliance Industries ninth, and Mercedes-Benz rounding out the top ten.
Survey Methodology and Insights
The REBR 2024 is an independent survey encompassing nearly 173,000 respondents and 6,084 companies globally, with approximately 3,507 respondents from India. According to Viswanath PS, MD & CEO of Randstad India, the survey reflects evolving workforce expectations, emphasizing work-life balance and equity. As such, organizations must adapt their talent acquisition and retention strategies to meet these changing demands.
Trends and Employer Strategies
The report notes that the intent to switch jobs has stabilized compared to the previous year. However, employers are encouraged to offer comprehensive benefits packages that balance work-life balance, career progression, and a favorable work environment to retain top talent. Additionally, it is encouraging to see that most employees received some form of inflation compensation from their employers. The survey also points to a growing interest in leveraging AI, suggesting that employers should invest in upskilling their workforce in emerging technologies.
Key EVP Drivers for Indian Workforce
The survey identifies work-life balance, equity, and attractive salary and benefits as the three most critical EVP drivers for Indian employees when selecting an employer. The newly introduced measure of equal opportunities has emerged as a significant factor, surpassing salary and benefits.
Impact of Artificial Intelligence
Regarding AI’s impact on the job market, the survey finds that about half of the respondents use AI daily or regularly, with the trend most pronounced among Gen Z (60%). Approximately 88% of the talent expects AI to influence their jobs in the next five years, with only 8% viewing AI’s potential impact negatively.
Sector-Specific Attractiveness
The attractiveness of various sectors has risen similarly. In 2024, the automotive sector leads with 77%, followed by IT, Communication, Telecom, and ITeS at 76%. FMCG, Durables, Retail, and E-Commerce are at 75%, while BFSI and Consulting stand at 74%.
Reasons for Leaving Employers
The report also reveals why employees leave their employers: 38% cite a lack of career growth opportunities, 34% point to insufficient compensation relative to the cost of living, and 30% mention inadequate flexible work options.
