1/3 firms struggle to find right talent
Also, 1 in 3 organisations find it difficult to retain existing staff
image for illustrative purpose
Employees value company culture and ethics more than the organisations realize, while organisations overvalue the importance of brand and incentives - Michael Page in its report ‘Talent Trends 2024 - India Expectation Gap’
Widening Gap
- Employer expectations, employee realities continue to grow
- Top priorities include flexibility, higher salaries and career progression
Mumbai: Around 34 per cent of organisations in India struggle to find the right talent and one in three grapples with retaining existing employees as the gap between employer expectations and employee realities regarding hiring and retention continues to grow, according to a report.
Even as employers and job seekers agree that flexibility, higher salaries and career progression are top priorities, employees value company culture and ethics more than the organisations realize, while organisations overvalue the importance of brand and incentives, said Michael Page ‘Talent Trends 2024 - India Expectation Gap’ report.
Coming out of the pandemic, a convergence of factors resulted in a subtle, but transformative change in workplace dynamics, with people thinking more holistically about the value their job gives to their lives, said Nicolas Dumoulin, Michael Page Senior Managing Director for India, Thailand, Philippines, and Vietnam.
Michael Page ‘Talent Trends 2024 - India Expectation Gap’ report is based on interviews among 3,087 respondents across India. The report further revealed that, on one hand, companies struggle to meet salary expectations, while on the other hand, they face a scarcity of applicants with the required skills who also align with the organisation’s culture.
Meanwhile, the report found that most employees are open to new careers and job roles in 2024 compared to last year and 94 per cent of respondents were open to exploring different roles this year, according to the report.
