Mumbai, May, 2016: The New Year has invited a fresh wave of optimism in the Indian job market with a significant majority (73%) of employees expecting a career progression in the next 12 months, according to Michael Page India’s Job Confidence Index for the first quarter of 2016. Interestingly, the survey, which is a current and historical snapshot of active job seekers and their experiences looking for work in India, finds that there has been an overall dip in confidence levels compared to the last quarter.
The study analysing responses from 688 employees from mid-senior level, across organisations and sectors, in the four key metros, finds:
• 62% of employees in India are satisfied with their working conditions compared to 54% in Asia-Pacific
• Bengaluru holds the top spot with 75% respondents satisfied with their general working conditions
• New skill development (42%), salary (40%) and better working conditions (39%) remain the top three reasons for looking for a job in India
Employees in India are more optimistic than the average Asia Pacific employee when predicting their situation in the next 12 months. Sebastien Hampartzoumian, Senior Managing Director, Michael Page India, says, “They seem to be pinning their hopes on their annual performance appraisal and will only look at changing roles if the new role offers better opportunities in terms of skill development or a hike in remuneration. The drop in overall confidence levels can be attributed to a general belt-tightening witnessed in the start-up sector, which fueled job growth in the last quarter.”
Comparing city to city, Bengaluru holds the top spot with 75% respondents satisfied with their general working conditions, followed by Mumbai (62%), Delhi (62%) and Chennai (58%). “This is primarily due to Bengaluru’s image as India’s own Silicon Valley. Adoption of global practices such as BYOD (Bring Your Own Device), flexible work hours and mature employee benefits programmes gives Bengaluru a definite edge over the other metro cities”, adds Sebastien.
View the full APAC Job Confidence Index India Q1 Report here.